According to the latest report published by Credence Research, Inc. “Blood Pressure Monitoring Devices Market – (Device Type – Sphygmomanometer, Automated Blood Pressure Monitors, Ambulatory Blood Pressure Monitors, Transducers and Accessories, End User – Home, Hospital and Physician/Clinic) :Market Growth, Future Prospects and Competitive Analysis, 2016-2022,” the market was valued at USD 1,840.1 Mn in 2015, and is expected to reach USD 3,482.4 Mn by 2022, expanding at a CAGR of 6.7% from 2016 to 2022.
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Rising prevalence of heart diseases, a growing obese population and a rising geriatric population are key factors driving the global market for blood pressure monitoring devices. North America has the largest regional market, accounting for a market share of more than 30% in 2015, and is projected to dominate the global market for blood pressure monitoring devices in the 2016-2022 forecast period.
Rising geriatric population in the region, susceptible to heart disease, and higher household health spending together drive the market for blood pressure monitoring devices in North America. Asia Pacific is expected to grow at the highest growth rate during the focus period due to the development of healthcare infrastructure, increased awareness of better health among the masses and an increasing number of regional blood pressure monitoring equipment manufacturers in the region.
Among the device types, automated blood pressure monitors is the most widely used device in terms of revenue. Portability, ease in handling, high accuracy and value for money are the major factors driving automated blood pressure monitors market. Ambulatory blood pressure monitors is anticipated to be the fastest growing segment in the device type segment, due to the effective use in the the diagnosis of white-coat hypertension and masked hypertension. Moreover, introduction of high end ambulatory blood pressure monitors by leading companies would further drive the market.
Home end user segment held the largest share in end user segment of the global blood pressure monitoring devices market. Growing trend in the development of home health care in the developed countries is the major driver for this segment. The introduction of novel blood pressure monitors suitable for the home setting would further fuel the market. Physician/Clinics segment is anticipated to grow at a fastest rate during the forecast period due to the rising preference of the of the patients.