The global Blood Pressure Monitors Market will continue witnessing fierce competition, finds Fortune Business Insights in a recent study. The report is titled “ — Blood Pressure Monitors Market Size, Share and Global Trend By Product Type (Sphygmomanometers, Digital Blood Pressure Monitors, Ambulatory Blood Pressure Monitors & Hospitals), End User (Ambulatory Surgery Centers & Clinics, Home Healthcare & Others) and Geography Forecast Till 2025.” According to the report, the global blood pressure monitor market will exhibit a healthy CAGR of 9.1% between 2018 and 2025. At this pace, the market will reach US$ 2,074.6 Mn by the end of 2025 as compared to US$ 1,037.2 Mn in 2017.
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“The global Blood Pressure Monitors Market will continue showing steep growth, spurred by the rising incidence of cardiovascular diseases worldwide,” said a lead analyst at Fortune Business Insights. Besides this, the rising prevalence of hypertension is likely push sales of blood pressure monitors for home use in the coming years. Furthermore, government support towards curbing the incidence of chronic ailments will aid the expansion of the market in the near future.
Fueled by Diverse Factors, Demand for Blood Pressure Monitors Forecast to Remain High
Growth spelled in the Blood Pressure Monitors Markets attributable to diverse factors. For instance, the rising demand from healthcare establishments is a chief driver of the market. Against this backdrop, the report projects the demand from hospitals and ambulatory surgery centers to rise significantly, creating growth opportunities for the market in the coming years. In addition to this, improved distribution network of leading players is expected pave way for the market’s growth in emerging nations.
In the coming years, an increasing number of patients are likely to opt for homecare settings. This will create an ideal environment, increasing sales of blood pressure monitors for home use. Furthermore, the launch of digital blood pressure monitors has enabled the market buoy growth. Fortune Business Insights identifies digital blood pressure monitors as the leading segment in terms of product type. The report predicts it to exhibit a CAGR of 10.1% between 2018 and 2025.
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Prevalence of Sedentary Lifestyle Encourages Growth in Asia Pacific
Regionally, Asia Pacific offers attractive growth opportunities to the market. The high prevalence of sedentary lifestyle is enabling the Blood Pressure Monitors Market accelerate its pace in the region. Besides this, the increasing incidence of cardiovascular diseases has remained a chief growth driver. Currently however the realms are with North America as the region held a dominant share of 40% in the global market in 2018. The presence of several leading players in the U.S. and Canada is identified as a key growth driver of the market in North America.
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Omron Healthcare Emerges as Leading Player
Among leading companies operating in the global blood pressure monitors market, Omron Healthcare has successfully established a very strong foothold. Its presence across the globe is a key factor enabling Omron Healthcare sustain its lead in the global market. The report also identifies American Diagnostic Corporation, Welch Allyn, Philips, and GE Healthcare as leading market players. Leading companies in the blood pressure monitor market are currently focusing on expanding their footprint across emerging nations to capitalize on the prevailing unmet medical needs. Spurred by expansion strategies adopted by the leading players, the global Blood Pressure Monitors Market is expected to report growth at a promising rate in the coming years.
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