Oct 22 2015
The report, titled 'Blood Pressure Monitoring Testing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019', shows that the market is growing at a CAGR of 11.5% from 2013 to 2019. It is expected to reach an estimated value of US$3,661.3 million by 2019, from a value of US$1,713.3 million in 2012.
The rising incidences of hypertension, which is the primary cause for fluctuations in blood pressure, has led to the emergence of blood pressure monitoring testing, states Transparency Market Research in its newly-published report, which studies the global blood pressure monitoring testing market.
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The report also states that the market for blood pressure monitoring testing is witnessing new trends and innovations owing to manufacturers coming up with various digital blood pressure devices that are easy to use and gauge accurate readings instantly.According to analysts at TMR, "Aging population, mainly people above the age of 55, are more prone to high blood pressure and have a 90% risk of developing hypertension or other chronic conditions, which could prove to be fatal. As a result, the need for automated self-care and personal monitoring devices increases. This certainly highlights the need for blood pressure monitoring testing."
The report discusses some of the current trends and recent developments taking place within the market on a global level. Studies help to determine the growth rate of the overall market in terms of value for the forecast period 2013-2019. The report also elaborates on the four major geographic regions - North America, Europe, Asia Pacific, and Rest of the World (RoW) - active in this market. In addition, details about the future opportunities of this market are provided in the report.
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Based on type, the overall blood pressure monitoring testing market is segmented into automated blood pressure monitors, sphygmomanometer (mercury sphygmomanometer, aneroid sphygmomanometer, and digital sphygmomanometer), blood pressure transducers, blood pressure instrument accessories, and ambulatory blood pressure monitors. The digital sphygmomanometers sub-segment is expected to grow rapidly because they are easy to use and provide accurate results. This sub-segment leads all the other types of sphygmomanometers (mercury and aneroid).
Moreover, the trend of regular monitoring is rapidly growing with patients opting for automated self-care. Majority of the automated blood pressure monitoring devices are based on the oscillometric method that is known to provide accurate results in addition to comfort and ease of use. This is pushing the market for personal monitoring devices as well. Other factors such as increase in incidences of heart diseases, chronic conditions, and rise in obese population are impacting the growth of this market.Geographically, the market in North America holds the largest percentage share of the global blood pressure monitoring and testing market. The report states that approximately 76 million Americans suffer from high/low blood pressure, which drives them to use blood pressure monitoring devices. The key players of the global blood pressure monitoring testing market include Philips Healthcare, A&D Medical Inc., GE Healthcare, and Omron Healthcare.