Blood pressure (BP) monitoring devices are used for the measurement three types of blood pressure: high, low, and blood pressure, which shows excessive or maladaptive fluctuations. Blood pressure is one of the main risk factors for chronic heart disease diseases and strokes, which are the leading cause of death around the world.
The global blood pressure monitoring devices market was valued at $1,981 million in 2015, and is estimated to reach $2,926 million by 2022, registering a CAGR of 5.7% from 2016 to 2022. This is due to the increase in importance of blood pressure monitoring devices in home care settings and emergence of advanced technologies. In addition, upsurge in geriatric population and sedentary lifestyle have fueled the demand for blood pressure monitoring devices. Moreover, the increase in obese population and improvement in awareness about the harmful effects of hypertension have fueled the market growth. However, lack of awareness about these devices in the low- and middle-income countries is use to hamper the market growth.
The blood pressure monitoring devices market is segmented on the basis of product type, and geography. Based on product type, the market is classified into aneroid BP monitors, digital BP monitors, blood pressure instrument accessories, and ambulatory BP monitors. Furthermore, on the basis of four geographical regions, it is categorized as North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, Malaysia, and rest of Asia-Pacific), and LAMEA (Brazil, Middle East, Africa, and rest of LAMEA).
Prominent players have adopted product development including product launches and approvals, as their key developmental strategy to expand their product portfolio. For instance, Omron healthcare was the first company to manufacture a wearable device called Project Zero Wrist Blood Pressure Monitor in April 2016. It was the first watch-sized sphygmomanometer that accurately measured blood pressure of the wearer. Moreover, reimbursement policies for blood pressure monitoring devices have fueled the demand for these products. For instance, Medicare offers reimbursement for ambulatory blood pressure monitoring (ABPM) devices used for a patient receiving blood dialysis at home or suffering from white coat hypertension. The three codes covered by Medicare for ABPM devices are 93784, 93786, and 93790.
Blood Pressure Monitoring Devices Market Key Segments:
By Product Type
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