The Global Blood Pressure Monitors Market is likely to grow exponentially driven by the increasing FDA approvals for newer devices. According to a report published by Fortune Business Insights, titled “Blood Pressure Monitors Market Size, Share and Global Trend By Product Type (Sphygmomanometers, Digital Blood Pressure Monitors, Ambulatory Blood Pressure Monitors & Hospitals), End User (Ambulatory Surgery Centers & Clinics, Home Healthcare & Others) and Geography Forecast Till 2025,” the market was valued at US$ 1,037.2 Mn in 2017. Fortune Business Insights states that the market is likely to expand at a CAGR of 9.1% in the forecast period and will be valued at around US$ 2,074.6 Mn by the end of 2026.
Omron Introduces Blood Pressure Monitors with EKG Capability
In May 2019, Omron introduced a new blood pressure monitoring device with the ability to read electrocardiogram pulses. The device had earlier received clearance from the Food and Drug Administration (FDA) for clinical use. The company made these products available for commercialization in May 2019, after a series of successful clinical trials. Omron’s blood pressure monitors are quickly adopted by many healthcare professionals due to their efficiency and EKG capability.
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Omron’s innovative blood pressure devices have encouraged its competitors, as a result of which many healthcare companies are acting swiftly to introduce their own products. Many renowned companies are now focusing on investing more in the research and development of new blood pressure monitors and introducing newer concepts as well as additional features within the devices. The success of Orman’s product had a massive impact on the global market and is likely to favor the growth of the global blood pressure monitoring market in the forecast period.
Omron Healthcare to Emerge as Leading Market Player
The rising practice of sedentary lifestyle in emerging nations of Asia Pacific is a major factor spurring the incidence of cardiovascular diseases. This is a chief driver of the digital blood pressure monitors in China and India. Additionally, the presence of a large number of players in the U.S. and Canada has helped the market in North America to emerge dominant. In 2017, the North America market was valued at US$ 415.2 Mn. This is also attributable to the improvements in domestic level distribution of blood pressure monitors in the region. The prevalence of cardiovascular diseases and the introduction of smart health monitors will help Asia Pacific emerge as the fastest growing region.
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Market players are investing huge sums in research and development activities in order to introduce innovative blood pressure monitors. An analyst at Fortune Business Insights foretells Omron Healthcare to lead the market on account of its widespread geographical reach. Some of the other companies operating in the global digital blood pressure monitors market are Masimo Corporation, Philips, Smiths Group, Nihon Kohden Corporation, American Diagnostic Corporation, Welch Allyn, and GE Healthcare.
Digital Blood Pressures are by far, the Most Used Product Type
Digital blood pressure monitors are a growing favorite among healthcare professionals. The high caliber functional ability and precise readings due to digital devices have led to an increasing use among end users, globally. Single handedly, the digital blood pressure monitor devices have accounted for around 64% of the total market share. Product benefits such as low cost and lesser time for diagnosis are likely to favor the digital blood pressure devices and they will continue to dominate the global market in the forecast period.
Some of the leading companies that are operating in the global digital blood pressure monitors market are American Diagnostic Corporation, Welch Allyn, Philips, Nihon Kohden Corporation, GE Healthcare, Smiths Group, Masimo Corporation and Omron Healthcare.
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