The global “digital blood pressure monitor market” is expected to gain from increasing incidence of chronic diseases worldwide. Recently Fortune Business Insights published a report, titled “Digital Blood Pressure Monitors Market Size, Share and Global Trend By Product Type (Arm Type & Wrist Type), End User (Hospitals, Ambulatory Surgical Centers & Clinics, Homecare Settings & Others) and Geography Forecast till 2025,” shading light into various factors responsible for the growth in the market. According to the report, in 2017 the global digital blood pressure monitors market was valued at US$ 666.6 Mn. The global market is expected to progress at a CAGR of 10.1% and reach US$ 1440.3 Mn by the end of 2025. The report classifies the global digital blood pressure monitor market in terms of various segments.According to the report, the market in Asia Pacific is expected to expand at a relatively higher CAGR. Favorable reimbursement policies in nations such as India and China are anticipated to contribute to the market’s expansion in Asia Pacific.
Among companies operating in the market, Omron Heath holds a dominant share backed by its widespread distribution network in Asia Pacific. As stated in the report, North America emerged dominant in the global market in 2017. It was valued at US$ 270.4 Mn in 2017. The region is anticipated to continue dominating the market through the forecast period. The growth witnessed is attributable to the increasing incidence of coronary heart diseases in the region. Moreover, in nations such as the U.S. the government is taking initiatives to prevent and cure heart diseases. This is likely to fuel the demand for digital blood pressure monitors.
Wrist Segment to Dominate the Market with Recent Technological Upgrades
In terms of product, the wrist type segment is anticipated to witness impressive growth during the forecast period. Innovation and technological advancements such as integration of ECG sensors in smart watch is likely to propel the growth in the segment. This is further anticipated to fuel the demand in the market.
Improved accuracy and precision of the digital blood pressure monitor and increasing adoption of smartwatches in-built with ECG sensors are a few factors anticipated to drive the market. Furthermore, shift of consumer preference towards digital readouts and automated machines in the healthcare sector is likely to fuel the demand in the market.
However, high cost and complications associated with the digital blood pressure monitor is a factor that may hamper the growth of the global digital blood pressure monitor market.
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Omron to Expand its Operations Across Regions to Gain Higher Share
The global digital blood pressure monitor market is expanding and witnessing entry of new players. At present Omron Health is leading the global market and is anticipated to lead during the forecast period as well. The growth witnessed is attributable to organization’s strong brand presence and diverse product portfolio. This is expected to increase the growth rate in market. Some of the organizations operating in the global digital blood pressure monitor market are American Diagnostic Corporation, Welch Allyn, Koninklijke Philips N.V., Nihon Kohden Corporation, GE Healthcare, Smiths Group, and Masimo Corporation.
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An Overview of the Impact of COVID-19 on this Market:
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Key Segments Within the Market
- By Product Type
- Arm Type
- Wrist Type
- By End Users
- Ambulatory Surgical Centers & Clinics
- Homecare Settings
- By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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