The global pressure monitoring market size was USD 8.38 billion in 2023 and is expected to register a steady revenue CAGR of 6.3% during the forecast period. Key factors driving global market revenue growth are increasing incidence of various chronic and acute diseases, rapid advancements in pressure monitoring devices, improving healthcare infrastructure, increasing number of hospitals, clinics, and ambulatory care services across the globe, and rising number of product approvals.
Pressure monitoring plays a crucial role in evaluating general health and detecting various health problems and conditions. Over the years, increasing prevalence of various chronic and acute diseases such as diabetes, cardiovascular diseases, pulmonary dysfunctions others have led to technological advancements in pressure monitoring devices. One of the key factors responsible for surging demand of pressure monitors is the increasing prevalence of glaucoma and brain injuries worldwide.
Request a Sample@ https://www.qyresearchmedical.com/sample/119308
In addition, there has been high prevalence of high blood pressure (hypertension) in elderly population due to lifestyle changes, unhealthy eating habits, excessive smoking, alcohol, and tobacco consumption. Various market players are also launching compact and easy-to-use pressure monitors and organ-specific monitors owing to increasing adoption of remote monitoring and ambulatory care services. Blood pressure monitors/cardiac pressure monitors, pulmonary pressure monitors, intraocular pressure monitors, and intracranial pressure monitors are some of the commonly used pressure monitors. Demand for pressure monitors has drastically increased during the COVID-19 outbreak owing to increasing cases of lung infections, high blood pressure, and increasing adoption of remote monitoring due to social distancing norms and travel restrictions. Various market players are thus heavily investing in developing advanced pressure monitors and wearable devices. This is also expected to drive global market revenue growth going ahead.
Market Dynamics:
Drivers: Increasing prevalence of high blood pressure and rapid advancements in pressure monitoring devices are key factors fueling global market growth
Pressure monitors are rapidly gaining traction over recent years owing to the rising prevalence of high blood pressure and associated diseases across the globe. According to World Health Organization, around 1.38 billion people between the age group of 37 and 79 years across the globe have high blood pressure. Some key factors driving global pressure monitoring market revenue growth include rapidly increasing global geriatric population and rising prevalence of pulmonary infections among an increasing number of individuals in various countries due to increasing air pollution and other contaminants and harmful particulate matter ending up in the atmosphere. In addition, technological advancements in pressure monitors and related medical devices and rising demand for intracranial pressure monitors, cardiac pressure monitors, and rising investments in research and development initiatives are factors expected to continue to support market growth going ahead. Moreover, increasing focus on developing mobile pressure monitors and rising demand for compact, user-friendly, and cost-effective pressure monitors are expected to create lucrative growth opportunities for emerging and existing market players.
Restraints: High initial investments and technical issues in pressure monitors are key factors expected to affect global market growth during the forecast period
One of the major drawbacks of many pressure monitoring devices is short shelf life and technical issues associated with accuracy and sensitivity. Other factors such as high cost of advanced devices, side effects of certain devices such as skin irritation, pain, bruising, and lack of skilled healthcare professionals to handle advanced pressure monitors are expected to hamper global market growth to a certain extent during the forecast period. In addition, many hospitals, clinics, and population in developing economies are unaware of these devices or are unable to avail the latest devices due to budget constraints which in turn is expected to hamper overall market growth.
Key Takeaways:
Type Outlook:
The global pressure monitoring market is broadly segmented into blood pressure monitors/cardiac pressure monitors, pulmonary pressure monitors, intraocular pressure monitors, intracranial pressure monitors, and others. Among these, the blood pressure monitors segment is expected to account for significantly larger revenue share over the forecast period. This can be attributed to increasing prevalence of blood pressure fluctuations and hypertension, increasing elderly population, rapid advancements in blood pressure monitoring systems, availability of compact, easy to use, accurate, and wearable devices, and high adoption of home care settings and ambulatory care services. Hypertension is a serious medical condition that can be acquired by unhealthy eating habits, lack of physical inactivity, obesity, diabetes, excess tobacco consumption, and a major cause of premature death across the globe. According to a report presented by WHO, around 1 in 5 women and 1 in 4 men have this condition. Various market players are focused on developing enhanced and compact blood pressure monitors at affordable prices.
Therapeutic Application Outlook:
Based on therapeutic application, the global market is segmented into respiratory disorders, glaucoma, cardiac disorders, neurological disorders, dialysis, and others. The respiratory diseases segment is expected to account for significant revenue growth between 2021 and 2028. This can be attributed to increasing prevalence of respiratory diseases, availability of advanced pulmonary pressure monitors, rising demand for various types of pulmonary pressure monitors such as oximeters, capnographs, spirometers, and increasing adoption of pulmonary pressure monitors for home care settings and ambulatory services. In addition, there has been a rapid increase in the production of enhanced and compact pulmonary pressure monitors, oximeters and spirometers owing to increasing COVID-19 cases across the globe and this is another factor driving revenue growth of the segment.
End Use Outlook:
Based on end use, the global market is segmented into hospitals, home care settings, ambulatory surgical centers and clinics, diagnostic laboratories, and others. Among these, the hospital segment is expected to account for largest revenue share in the global market over the forecast period owing to increasing prevalence of chronic and acute diseases, improving healthcare infrastructure, increasing prevalence of acute and chronic diseases across the globe, and rising awareness about routine checkups. In addition, availability of latest pressure monitoring devices and highly skilled healthcare professionals are other factors that are expected to continue to drive revenue growth of the segment.
Regional Outlook:
Geographically, North America is expected to account for largest revenue share in the global market over the forecast period owing to increasing prevalence of cardiovascular, neurological diseases, rising cases of blood pressure, presence of well-developed hospitals, clinics, and other healthcare systems, and rapid advancements in pressure monitoring devices. Other factors such as availability of skilled practitioners, high demand for non-invasive pressure monitors, increasing adoption of home care settings, and increasing investments in research and development activities are expected to continue to boost market growth in North America over the forecast period.
The Asia Pacific market is expected to register rapid revenue CAGR of 7.3% during the forecast period owing to factors such as high prevalence of chronic diseases, increasing incidence of traumatic accidents and high blood pressure, improving healthcare infrastructure, and increasing healthcare expenditure. In addition, increasing demand for non-invasive techniques, high adoption of latest pressure monitors, increasing elderly population, and increasing focus on developing cost-effective pressure monitoring systems are expected to fuel Asia Pacific market growth during the forecast period.
Competitive Landscape:
The global pressure monitoring market is quite competitive and comprises of key players at global and regional levels. Major players in the market are focused on product development and are adopting various strategies such as mergers and acquisitions, partnerships, license agreements, joint ventures, and collaborations to expand their product base and strengthen their market. Philips Healthcare, Welch Allyn, Inc., GE Healthcare, Nihon Kohden Corporation, Raumedic, Drägerwerk AG & Co. KGaA, Medtronic plc., Becton, Dickinson and Company, Nonin Medical Inc., A&D Medical, Omron Healthcare, Inc., SunTech Medical, Inc., Smiths Medical, Pulnovo Medical (Wuxi) Co.,Ltd, Icare Finland OY, Essilor Group, and Nidek Co., Ltd. are some key players operating in the global pressure monitoring market.
Pipeline Analysis:
In January 2020, Raumedic launched a novel home-use device, Raumed Home ICP for monitoring intracranial pressure (ICP) for patients with hydrocephalus. In this, a telemetric catheter is implanted in cranium of the patient for 20 minutes that measures ICP from brain’s tissue and an antenna is placed above the catheter to store and register data. The patient can freely move and perform his/her daily activities during the measurement.
In January 2021, Omron healthcare, Inc., a global leader in remote patient monitoring and personal heart health technology. The company launched VitalSight, the first remote and easy to use blood pressure monitoring service specially designed for high risk hypertensive patients. VitalSight is a home kit that patients receive with an Omron connected blood pressure monitor along with a preset data hub to share reports with the physician and care team through Electronic Medical Record (EMR) system.
Segments Covered in the report
This report offers historical data and forecasts revenue growth at a global, regional, and country level, and provides analysis of the market trends in each of the sub-segments from 2023 to 2032. For the purpose of this report, has segmented the global pressure monitoring market on the basis of type, application, end use and region:
Pressure Monitoring Market Report Scope
Segments covered By Type Outlook, Therapeutic Application Outlook, End Use Outlook, Regional Outlook
By Type Outlook
Blood Pressure Monitors/Cardiac Pressure Monitors
By Device
Automated BP Monitors
Ambulatory BP Monitors
Sphygmomanometers
BP Transducers
By Technology
Digital
Aneroid
Wearable
By Accessory
Blood Pressure Cuffs
Manometers
Valves and Tubing
Bulbs
Pulmonary Pressure Monitors
By Device
Oximeters
Capnographs
Spirometers
By Accessory
Flanged Mouth Pieces
Nasal Probes
Filters
Nasal Plugs
Valves
Others
Intraocular Pressure Monitors
By Accessory
Prisms
Prisms Sterilizers
Tip Covers
Sensors
Others
Intracranial Pressure Monitors
Other Pressure Monitoring Devices
By Therapeutic Application Outlook
Respiratory Disorders
Glaucoma
Cardiac Disorders
Neurological Disorders
Dialysis
Others
By End Use Outlook
Hospitals
Home Care Settings
Ambulatory Surgical Centers and Clinics
Diagnostic Laboratories
Others
Regional scope
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Buy quantitative research Report at discounted price – USD 1500 https://www.qyresearchmedical.com/report/checkout/119308/1500
You can place an order or ask any questions, please feel free to contact sales@qyresearchmedical.com | +1 9197 992 333
Blog: https://www.novaoneadvisor.com/
Blog: https://www.visionresearchreports.com/
About Us
QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover North America, Europe, Latin America, Middle East and Africa, Asia- Pacific.
For Latest Update Follow Us:
URL – http://www.qyresearchmedical.com/
https://www.linkedin.com/company/qyresearch-medical/
https://www.facebook.com/QYResearch-Medical-108186514228917/