The digital blood pressure monitors market share is projected to grow up to USD 1.54 billion, accelerating at a CAGR of 9.89% during the forecast period. The increasing incidence of hypertension coupled with the geriatric population is notably driving the digital blood pressure monitors market growth. However, the intense competition among vendors and counterfeit products may hamper the market growth. Technavio's research report delineates the growth drivers that will boost market growth along with a detailed analysis of the market segments, trends, and challenges that are likely to impact market growth.
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Technavio has identified the increasing incidence of hypertension coupled with the geriatric population as one of the key factors that will drive this market. Blood pressure above 130/80 mmHg is considered high and may affect the heart and kidneys. High blood pressure can also cause harm to the brain. Factors such as the aging population and the increasing incidence of hypertension are likely to spur the digital blood pressure monitor market growth.
In addition, the growing demand for ambulatory blood pressure monitoring systems is one of the major digital blood pressure monitors market trends that will positively influence market growth. However, the intense competition among vendors and counterfeit products is one of the key challenges hindering the market.
Technavio's digital blood pressure monitor market report provides a comprehensive analysis of all the other factors that will propel market growth. The report also takes into account the current market scenario, trends, and challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their businesses.
The digital blood pressure monitors market is segmented by Type (Stand-alone and Integrated) and Geography (North America, Europe, Asia, and ROW). The digital blood pressure monitors market growth in the stand-alone will be significant during the forecast period.
By geographic segmentation, 47% of the market's growth will originate from North America. The US is the key region for the North American market. Factors such as the high prevalence of high blood pressure causing white coat hypertension, availability of wireless digital blood pressure monitors, and sophisticated healthcare infrastructure will facilitate the digital blood pressure monitors market growth in North America.
The market is concentrated due to the presence of several players. A&D Co. Ltd., Care Touch, ERKA. Kallmeyer Medizintechnik GmbH & Co. KG, General Electric Co., Geratherm Medical AG, Hillrom, Koninklijke Philips NV, Microlife Corp., Omron Healthcare Inc., and Smiths Medical Inc. are some of the major digital blood pressure monitors market vendors. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations. Download the Free PDF Sample Report
