US$ 3.8 Billion for Blood Pressure Monitoring Devices Market by 2023, Key driver: Introduction of Highly Innovative & Low Priced Monitors by the Manufacturers: TMR

Albany, NY, May 03, 2016 (GLOBE NEWSWIRE) -- Transparency Market Research has published a new market report titled, “Blood Pressure Monitoring Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2023.” According to the report, the global blood pressure monitoring devices market was valued at US$ 2.0 Bn in 2014 and is estimated to reach US$ 3.8 Bn by 2023 at a CAGR of 7.3% from 2015 to 2023.

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Hypertension, also known as high blood pressure, is a long-term medical condition, wherein blood pressure in the arteries is persistently elevated. High blood pressure usually does not cause symptoms. Long-term high blood pressure; however, is a major risk factor for coronary artery disease, stroke, heart failure, and chronic kidney disease. Factors such as rising obese population, growing incidence of heart diseases, chronic conditions, and diabetes, and increasing hypertensive patients have accelerated demand for blood pressure monitoring devices globally.

According to the World Health Organization (WHO), approximately 50% of the total patient population is unaware about the fact that they suffer from hypertension and in some population, awareness is very low, less than 10%. Hence, the WHO has introduced initiatives such as the World Hypertension Day, which aims to increase awareness about hypertension globally.

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The automated blood pressure monitors held the largest share of the global blood pressure monitoring devices market in 2014. Major factors driving the automated blood pressure monitors segment include portability, easy to use interface, and multiple display functions such as blood pressure levels and pulse rate that are easy to read. Automated blood pressure monitors also have the feature to store the last measurement of up to 10 readings. With rising preference for home-based monitoring devices, manufacturers are coming up with high-end blood pressure devices that have low cost, show quick and accurate results, and that measure, monitor, store, and notify blood pressure readings to patients as well as health care professionals. Moreover, with rising implementation and acceptance of eHealth and mHealth globally, health care professionals are able to monitor and track the health of patients more efficiently and rapidly. Thus, the automated blood pressure monitors segment is anticipated to expand at a CAGR of 9.0% during the forecast period.

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Home blood pressure monitoring devices was the largest end-user segment of the market in terms of revenue in 2014. The segment is projected to dominate the market during the forecast period. Increasing trend of home health care and rising demand for home-based blood pressure monitors have augmented market growth.

For instance, in November 2012, OMRON Healthcare introduced HEM-7251G digital blood pressure monitor along with Medical LINK system that transmits blood pressure measurement data automatically through a network. Incorporation of new and advanced technologies by key players would attract new customers, which in turn is likely to drive the home blood pressure monitors market. The kiosk end-user segment is anticipated to expand at the highest CAGR of 10.3% owing to the increasing trend of blood pressure monitoring at kiosks in developed regions such as North America and Europe.

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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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