Blood Pressure Monitoring Devices Market Size, Share & Trends Analysis Report By End-use, By Product, By Region And Segment Forecasts, 2023 - 2030
Blood Pressure Monitoring Devices Market Size, Share & Trends Analysis Report By End-use (Hospitals, Homecare), By Product (Ambulatory, Aneroid BP Monitors), By Region, And Segment Forecasts, 2023 - 2030.
New York, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Blood Pressure Monitoring Devices Market Size, Share & Trends Analysis Report By End-use, By Product, By Region And Segment Forecasts, 2023 - 2030" - https://www.reportlinker.com/p06423472/?utm_source=GNW
Blood Pressure Monitoring Devices Market Growth & Trends
The global blood pressure monitoring devices market size is expected to reach USD 7.96 billion by 2030, registering a CAGR of 9.4%. The growing global geriatric population base is expected to widen the consumer base by triggering incidence rates of hypertension, which is expected to drive the demand for blood pressure monitoring devices. The increasing incidences of hypertension have led to rising demand for cost-effective, rapid, and accurate diagnostic solutions. Blood pressure monitors are one of the vital sign monitors of life. The cost-effective and accurate results offered by these indicators are responsible for the rapid expansion of business scale.
In addition, new product launches, coupled with the rising adoption of technologically advanced products due to the high penetration of health insurance, are considered other factors fueling the demand for blood pressure (BP) monitoring devices.The increasing popularity of mHealth platforms in the healthcare sector is propelling the industry’s growth.
Rising patient awareness levels about the advantages associated with portable monitoring devices are expected to positively reinforce market growth.
Blood Pressure Monitoring Devices Market Report Highlights
• Based on the type of product, sphygmomanometer/aneroid BP monitors dominated the overall market in 2021 in terms of revenue share, owing to the increasing prevalence of high blood pressure cases worldwide
• The ambulatory blood pressure monitoring devices market is driven by factors such as increasing adoption by clinicians and increasing awareness about it
• The digital BP monitors segment is expected to witness lucrative growth in the coming years owing to advantages associated with these devices such as ease of use, immediate results, and low cost. In addition, continuous improvement in these devices is expected to present this market with further growth opportunities
• The home healthcare segment is expected to witness lucrative growth owing to various government initiatives to promote home healthcare
• In 2021, North America was the key regional market in terms of revenue share. Key factors attributing to its large share include the presence of advanced healthcare infrastructure and the increasing prevalence of lifestyle-associated diseases with a high risk of hypertension
• Higher awareness levels, increasing demand for early diagnostics & prevention, and increasing stress levels leading to high blood pressure are the factors responsible for the market growth
• The Asia Pacific blood pressure monitoring devices market is expected to demonstrate rapid growth during the forecast period with a CAGR of 13.6%. Key factors attributed to its rapid growth include favorable government initiatives such as the government of India’s campaign "Make In India", which is intended to attract FDI and international players to invest in the Indian market. In addition, rapidly improving healthcare facilities in the region are anticipated to aid market growth
Read the full report: https://www.reportlinker.com/p06423472/?utm_source=GNW
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