This market research report presents a detailed segmentation of the global blood pressure monitoring testing market by product (sphygmomanometers, automated and ambulatory blood pressure monitors, blood pressure transducers, and blood pressure monitor consumables), by end users (large hospitals, mid-sized hospitals, and other settings), and by geography (the Americas, APAC, and EMEA). The leading vendors in this market are A&D Medical, GE, Omron, Philips, SunTech Medical, and Welch Allyn.
Blood Pressure Monitoring Testing Market insights
According to the blood pressure monitoring testing industry analysis, Technavio’s market research analyst predicts that the global blood pressure (BP) monitoring testing market will grow at a significant CAGR of over 7% during the forecast period. One of the primary drivers for this market is the rising preference of consumers for home healthcare monitoring. Recently, it has been observed that many people have started to suffer from chronic hypertension, which can be controlled with the help of drugs and a regulated lifestyle. People now prefer home healthcare to reduce hospital stays and associated costs. Consequently, most people have started using digital, portable, and easy-to-use blood pressure monitors as they can be used at home and are highly accurate. This recent increase in the number of people opting for portable devices to manage their condition better will lead to the growth of this market during the predicted period.
In this industry report, the analysts estimate factors like the increasing focus on preventive treatment to play a vital role in the adoption of BP monitoring devices during the estimated period. Hospitals and healthcare centers like other businesses have to lower their expenses without compromising on the quality of care. People with cardiovascular disorders can get diagnosed early and implement preventive treatment methods prescribed by healthcare providers. Based on the blood pressure monitoring testing market trends, BP monitors are reliable tools as they offer accurate results and are easy to use. The increased adoption of BP monitors and a focus on preventive care will boost growth in the global BP monitoring testing market until the end of 2020.
Product-based segmentation of the BP monitoring testing market
- Sphygmomanometers
- Automated and ambulatory blood pressure monitors
- Blood pressure transducers
- Blood pressure monitor consumables
The sphygmomanometers segment was the largest in the global BP monitoring testing market with a market share of close to 54% in 2015. Increased awareness about the importance of managing BP levels will drive the demand for sphygmomanometer in hospitals and other settings.
Geographical segmentation of the BP monitoring testing market
- Americas
- APAC
- EMEA
The Americas dominated the global BP monitoring testing market in 2015 with a market share of over 43%. This area will experience significant growth due to an increase in obese and older populations who need treatment for cardiovascular problems. Technological advances and the easy availability of BP monitoring devices in this region have resulted in its increased acceptance and use by consumers.
Competitive landscape and key vendors
The global BP monitoring testing market is highly fragmented due to the presence of several vendors and some niche suppliers. The market is also characterized by the presence of well-diversified international and local suppliers, with the global vendors occupying a dominant position. Many vendors adopt product bundling strategies and offer a combination of two or more products/services to augment product sales. However, these companies are losing market shares to medium- and small-sized suppliers who compete with them on the basis of price. In this market, the level of competition will intensify with the introduction of technological innovations and product extensions.
Key vendors in the market are
- A&D Medical
- GE
- Omron
- Philips
- SunTech Medical
- Welch Allyn
Other vendors in the market include American Diagnostic, Beurer, Bosch + Sohn, Briggs Healthcare, ChoiceMMed, CITIZEN SYSTEMS JAPAN, CONTEC MEDICAL SYSTEMS, Erka, Geratherm Medial, HONSUN, Medtronic, Masimo, Microlife, Nihon Kohden, Norditalia Group, Riester, Rossmax International, Schiller, Shenzhen Mindray Bio-Medical Electronics, Spacelabs Healthcare, Suzuken, Truly Healthcare, Vasomedical, and Withings.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global BP monitoring testing market?
- What are the key market trends influencing the growth of the global BP monitoring testing market?
- What are the challenges to market growth?
- Who are the key vendors in the global BP monitoring testing market?
- What are the market opportunities and threats faced by the vendors in the global BP monitoring testing market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global BP monitoring testing market?
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