Global blood pressure monitoring market to reach $3.7 Billion in 2019.
According to a new market report published by Transparency Market Research, the global blood pressure monitoring testing market was valued at USD 1,713.3 million in 2012 and is estimated to reach a market worth USD 3,661.3 million in 2019 at a Compound Annual Growth Rate (CAGR) of 11.5 percent from 2013 to 2019.
This underscores the global prevalence of high blood pressure. The researchers said in a press statement that hypertension is one of the leading causes of heart diseases and strokes globally. The exact cause is unknown, but it develops with changing lifestyle and growing age. They added that the rise in prevalence of high/low blood pressure is attributed to sedentary lifestyle, lack of physical activity geriatric population and rising stress.
Blood pressure monitors are widely used by physicians in clinics, hospitals and even by patients themselves at home for self-monitoring. Also, “with the rising incidence rate of hypertension there is an increase in awareness about monitoring techniques, creating a substantial rise in demand for blood pressure monitoring devices.”
They said that manufacturers are also coming up with new and innovative digital blood pressure monitoring devices that are easy to use and provide accurate readings instantly. The digital sphygmomanometers market, for example, is expected to grow at a faster rate compared to other types of sphygmomanometers (mercury and aneroid) as they are easier to use and provide comparatively accurate results.
Technological advancement, such as the ubiquitous and successful use of mobile technology in the healthcare industry, is another important factor responsible for the growth of this market. Since prevention and early detection are the important factors for regular monitoring, mobile and portable devices would help the patient population to monitor their parameters. Devices when connected wirelessly would also automatically transmit the required data of the patients to healthcare professionals.
According to the report, which included sphygmomanometers, automated blood pressure monitors, ambulatory blood pressure monitors, blood pressure transducers and blood pressure instrument accessories, the North American market accounted for the largest share of more than 40 percent in 2012 and is expected to dominate the market during the forecasted period. This accelerated growth is mainly due to rising population, sedentary lifestyle, increasing stress and changing lifestyles. It is estimated that one in every three Americans suffer from hypertension and an individual is three times more susceptible to heart diseases when suffering from hypertension.
Another finding was that the prevalence of high blood pressure is more rampant in low or middle income countries as compared to high-income countries due to a growing number of people with undiagnosed, uncontrolled and untreated high blood pressure.