Hypertension, also called as High Blood Pressure (HBD) is the major cause of concern among the society. It is a long-term medical condition, which affects blood pressure in the arteries. Severe complications in hypertension could lead to major health complications such as stroke, heart failure, coronary artery disease, atrial fibrillation, vision loss, and other problems. According to the American Heart Association, Inc. report in 2013, around 77.9 million (1 out of every 3) adults are suffering from high blood pressure in the U.S. Pressure monitoring devices effectively monitor and measure various types of pressure such as blood pressure, pulmonary pressure, and intraocular pressure. These devices have evolved a lot in the recent and have become more accurate. They are available in various types and sizes depending on the requirement of the application. Increasing adoption of these devices is due to advantages offered by it such as user-friendliness and compactness.
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Market Dynamics- Drivers
Growing demand for compact and smart devices for estimating pressure is expected to drive growth of the global pressure monitoring device market during the forecast period. In the recent past, there has been huge increase in people suffering from hypertension or high blood pressure. For instance, in 2008, World Health Organization (WHO) reported 9.4 million deaths worldwide every year due to hypertension, which in turn increased the demand for tools and services to manage their symptoms. Moreover, introduction of novel technology in pressure monitoring devices is expected to drive growth of the global pressure monitoring devices market in the near future. For instance, Blumio, the U.S. based medical device developer designed a wearable blood sensor that can continuously monitor blood pressure without requiring an inflatable cuff, enabling users to track and monitor blood pressure throughout the day. Furthermore, increasing awareness among the patients related disease monitoring and fitness is expected to boost growth of global pressure monitoring device market over the forecast period.
Market Dynamics- Restraints
Inaccuracy of the devices in monitoring medical parameters by fluctuating the actual and displayed results is expected to restrain growth of the global pressure monitoring devices market over the forecast period. For instance, a survey article published by Oakland University in 2016, reported that, out of 126 aneroid blood pressure monitoring devices around 22.6% had calibration error for the clinical applications.
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On the basis of region, the global pressure monitoring device market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. Among regions, North America holds the dominant position in market in terms of revenue, owing to quick adoption of technologically advanced devices in this region and presence of major market players in this region especially in the U.S. Furthermore, Asia Pacific is estimated to witness significant growth in the market over the forecast period, owing to a massive pool of vulnerable population to various chronic diseases and wide availability of innovative products offering better solutions to the patient at the marginally lower costs. For Instance, CotinUse Biometrics Ltd. an Israel-based company uses laser nanotechnology to measure blood pressure, respiration, lung activity, and muscle activity simultaneously.
The key players operating in the global pressure monitoring devices market include Smiths Groups Plc., Omron, Welch Allyn, Microlife Corporation, General Electric Company, Koninklijke Philips N.N., Halma plc, Hill-Rom Holdings, Inc., A&D Company, Spacelabs Healthcare, Criticare Technologies, Hingmed, CITIZEN SYSTERMS JAPAN, ERKA, Opto Circuits, Beurer, CAS Medical Systerms, Geratherm Haiying Medical, Medical, Nihon Kohden, Schiller, Shenzhen Mindray Bio-Medical Electronics, Vasomedical, Gaeltec Devices, Rudolf Riester, Rossmax International, Truly Healthcare, and Norditalia. Key players are engaged in developing new technologies in order to retain dominant position in the market. For instance, Microlife Corporation introduced AIFB technology inside its BP monitors, which allows patients to screen for Atrial Fibrillation (AF) during the blood pressure measurement process.
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On the basis of product type, the global pressure monitoring devices market is segmented into:
- Blood Pressure Monitors
- Automated Blood Pressure Monitors
- Ambulatory Blood Pressure Monitors
- Blood Pressure transducers
- Components and Accessories
- Pulmonary Pressure Monitors
- Intraocular Pressure Monitors
- Intracranial Pressure Monitors
On basis of application type, the global pressure monitoring devices market is segmented into:
- Respiratory Disorders
- Cardiac Disorders
- Neurological Disorders
On the basis of end users, the global pressure monitoring devices market is segmented into:
- Diagnostics laboratories
On the basis of procedure type, the global pressure monitoring devices market is segmented into:
- Invasive monitoring devices
- External Ventricular Drainage
- Microtransducer Monitor
- Non-Invasive monitoring devices
- Transcranial Doppler Ultrasonography
- Optic Nerve Sheath Displacement
- Tympanic Membrane Displacement (TMD)
- Fundoscopy (papilledema)
On the basis of region, the global pressure monitoring devices market is segmented into
- North America
- Latin America
- Asia Pacific
- Middle East
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