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The blood pressure monitoring device market share is expected to increase by USD 1.95 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.67%.
This blood pressure monitoring device market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers blood pressure monitoring device market segmentations by product (sphygmomanometers, home-based BP monitors, BP transducers, BP monitoring consumables, and ambulatory BP monitors) and geography (North America, Europe, Asia, and ROW). The blood pressure monitoring device market report also offers information on several market vendors, including A&D Co. Ltd., General Electric Co., Geratherm Medical AG, Halma Plc, Hill-Rom Holdings Inc., Koninklijke Philips NV, Masimo Corp., Nihon Kohden Corp., OMRON Corp., and Smiths Medical Inc. among others.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growing preference for home-based bp monitoring is notably driving the blood pressure monitoring device market growth, although factors such as the presence of a high undiagnosed population may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the blood pressure monitoring device industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Blood Pressure Monitoring Device Market Driver
The growing preference for home-based bp monitoring is notably driving the blood pressure monitoring device market growth. Home-based ambulatory BP monitoring devices monitor BP and diagnose white coat hypertension, masked hypertension, labile hypertension, and resistant hypertension. They also monitor and assess nocturnal BP, which improves diagnosis and enables accurate clinical decision-making and treatment. Home-based BP monitors improve the ability to evaluate the risk of target organ damage and hypertension-related mortality and morbidity. They assess nocturnal and diurnal changes to predict the risks associated with high BP. They also simplify the diagnosis and management of hypertension. Hence, the growing preference for home-based BP monitoring will drive the growth of the global BP monitoring devices market during the forecast period.
Key Blood Pressure Monitoring Device Market Trend
The growing demand for ambulatory BP monitoring systems is the key market trend driving the blood pressure monitoring device market growth. The demand for ambulatory BP monitors, which are primarily used to diagnose white coat hypertension and masked hypertension, is growing. Ambulatory BP monitors are compact, arm-based, or wrist-based devices that have user-friendly features that improve accessibility. Measuring BP using ambulatory BP monitoring systems is noninvasive. The use of ambulatory BP monitors allows the monitoring of the BP of people during participation in daily activities. These devices also monitor the effectiveness of BP medications. Ambulatory BP monitors are used for diagnosing arterial hypertension at home and in healthcare facilities such as clinics. Several vendors offer advanced ambulatory BP monitors. Hence, the growing demand for ambulatory BP monitoring systems will drive the growth of the global BP monitoring devices market during the forecast period.
Key Blood Pressure Monitoring Device Market Challenge
The major challenge impeding the blood pressure monitoring device market growth is the presence of a high undiagnosed population. Hypertension is the leading cause of heart attacks and the largest contributor to the global burden of diseases. A large proportion of the population remained undiagnosed or was inadequately treated. Hence, they are at high risk of morbidity and mortality from hypertension-related conditions such as stroke and other CVDs. In the US, in Missouri, 1.5 million adults have hypertension but have not been diagnosed. The CDC had started the Million Hearts initiative, a national effort to prevent one million heart attacks and strokes by 2017 by controlling BP. The initiative encourages healthcare professionals (HCPs) to identify patients with undiagnosed hypertension. The American Heart Association (AHA) and the American College of Cardiology (ACC) have reclassified 130/80 mm Hg as the threshold for hypertension. Earlier, it was 140/80 mm Hg. Due to the reclassification, more than 103 million people in the US have high BP. Hence, the presence of a high undiagnosed population is a challenge for the growth of the global BP monitoring devices market.
This blood pressure monitoring device market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global blood pressure monitoring device market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the blood pressure monitoring device market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the blood pressure monitoring device market encompasses successful business strategies deployed by the key vendors. The blood pressure monitoring device market is fragmented and the vendors are deploying growth strategies such as focusing on product differentiation and distribution agreements to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The blood pressure monitoring device market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the blood pressure monitoring device market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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