Sphygmomanometers (aneroid, mercury, and digital), automated blood pressure monitors, ambulatory blood pressure monitors, blood pressure transducers, and blood pressure instrument accessories are all used in blood pressure monitoring and testing.
The market for medicines used in blood pressure monitoring testing is anticipated to reach US$ 4,560.1 million in 2021 and grow at a CAGR of 11.7% during the forecast period (2021-2028).
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The debut of Biobeat’s new wearable and continuous ambulatory blood pressure monitoring (ABPM) chest-monitoring gadget is scheduled for May 26, 2021, according to the company, a leader in wearable remote patient monitoring solutions for the healthcare continuum.
The need for disposable blood pressure cuffs will rise as a result of Vancouver Coastal Health, a regional health authority, replacing its reusable blood pressure cuffs with disposable ones in July 2020 to minimize cross-contamination and stop the spread of COVID-19.
The new VitalSight home blood pressure monitoring device will be made available to patients in July 2020 thanks to a collaboration between Omron Healthcare Inc. and Mount Sinai Health System, the largest academic medical center in New York City.
In terms of volume, North America owned the majority of the market for blood pressure monitoring tests in 2020, with a 44.9% share, followed by Europe and Asia Pacific. The rising incidence of cardiac illnesses, an increase in product introductions in recent years, and the expanding use of home blood pressure monitors in the region are all factors contributing to the growth of the North American market over the projection period. For instance, according to data from the Centers for Disease Control and Prevention (CDC), approximately 500,000 deaths in the United States occurred in 2018 as a result of primary or secondary hypertension, and nearly half of adults with uncontrolled hypertension (45%) have blood pressure readings of 140/90 mm Hg or higher. 37 million adult Americans are included in this.
Global Blood Pressure Monitoring Testing Market: Drivers
Over the projection period, rising rates of hypertension are anticipated to fuel market expansion for global blood pressure monitoring tests. For instance, a cross-sectional population-based study titled “Diabetes and Hypertension in India: A Nationally Representative Study of 1.3 Million Adults” reported that the overall prevalence of hypertension in India was 25.3% between 2012 and 2014 (JAMA Internal Medicine, March 2018).
Moreover, a growing geriatric population is anticipated to support market expansion. For instance, the U.S. Census Bureau projects that by 2034, there will be 77 million elderly people living in the country.
Global Blood Pressure Monitoring Testing Market: Opportunities
Players in the worldwide blood pressure monitoring testing market may benefit from lucrative growth possibilities due to the rising prevalence of cardiovascular disorders in emerging economies. For instance, the study “Cardiovascular Diseases in India Compared With the United States” found that in 2016, the estimated age-standardized prevalence of CVD in India was 5,681 per 100,000.
Moreover, industry participants can concentrate on creating wearable blood pressure monitoring gadgets to broaden their product line.
The market’s major players are concentrating on implementing collaboration strategies to increase the scope of their product offering. For instance, in April 2020, OMRON Healthcare, Co., Ltd. and AliveCor, Inc. collaborated to combine blood pressure devices from OMRON with AliveCor’s ECG technology for non-invasive remote monitoring devices.
Leading industry participants are also concentrating on raising awareness of cardiovascular disorders. For instance, Withings SA collaborated with the World Heart Federation in September 2019 to increase awareness of cardiovascular disorders.
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Global Blood Pressure Monitoring Testing Market: Competitive Landscape
A&D Medical, Inc., Contec Medical Systems Co., Ltd., Covidien Plc, GE Healthcare, Masimo Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., SunTech Medical, Inc., Nihon Kohden Corporation, Philips Healthcare, Spacelabs Healthcare, Omron Healthcare, Inc., Withings sas, and Welch Allyn, Inc. are major players in the global blood pressure monitoring testing market (Hill-Rom, Inc.)
Key Takeaways of the Graph:
- Sphygmomanometer/Aneroid BP Monitors, which accounted for 50.0% of the market for blood pressure monitoring tests globally in 2020, had a prominent position in the market among product types. In 2028, the segment is anticipated to generate US$ 4,417.1 million.
- Sphygmomanometer/Aneroid BP Monitors held a dominant position in the global market in 2020 as a result of new product introductions, inventive product advancements using cutting-edge technologies, and the growing popularity of home blood pressure monitoring.
- In 2020, hospitals, who made up the majority of end users, accounted for 61.3% of the worldwide blood pressure monitoring testing market. In 2028, the market is projected to generate US$6,167.9 million.
- The expanding use of BP monitoring devices and the presence of a sizable patient base with a need for quick, affordable, and accurate diagnostic tools in hospitals are two factors contributing to the segment’s dominance.
Global Blood Pressure Monitoring Testing Market: Restraints
It is anticipated that unfavorable reimbursement policies may impede market expansion. Not all forms of blood pressure monitoring equipment are covered by insurance. For instance, Medicare only pays out for ambulatory blood pressure monitors used to diagnose white coat hypertension in the United States.
Moreover, particularly in emerging nations, lifestyle diseases frequently go undiagnosed, which is also anticipated to restrain market expansion.
Global Blood Pressure Monitoring Testing Market: Key Developments
To increase the variety of items they offer, the major market participants are concentrating on launching new and revised products. For instance, OMRON Healthcare, Inc. introduced new, improved variants of its blood pressure monitors in October 2019 along with new features.
Similar to this, Withings sas introduced two new at-home blood pressure monitors in July 2019: the Withings BPM Connect, an upgraded version of the original Withings BPM, and the Withings BPM Core, an over-the-counter gadget that measures blood pressure.
𝐊𝐞𝐲 𝐑𝐞𝐩𝐨𝐫𝐭 𝐏𝐨𝐢𝐧𝐭𝐞𝐫𝐬 & 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬:
- In which appropriate, authenticated market size information and data in terms of value and volume with statistically validated analyses of historical, current, and projected industry trends.
- The industry’s primary and indirect influencing factors, as well as anticipated future industry-related rationales.
- Historical and Current Demand (Consumption) and Supply (Production) Scenarios as well as Projected Supply-Demand Scenario Analysis.
- A thorough list of important customers and consumers, broken down by regions and applications.
- Supply chain and value chain analysis, as well as scenarios for horizontal and vertical integration.
- Overview of the most important marketing tactics and sales channels used in the market.
- Analysis of the manufacturing and production cost structure, including labour cost, raw material costs, and other manufacturing expenses, where applicable.
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Table of Contents with Major Points:
- Key Findings
- Definitions and Assumptions
- Definition of Blood Pressure Monitoring Testing Market
- Market Dynamics
- Trends and Developments
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Blood Pressure Monitoring Testing Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Data Sources
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