A new Transparency Market Research report states that the global blood pressure monitoring testing market stood at US$1.7 bn in 2012 and is predicted to reach US$3.6 bn by 2019. It is expected to expand at a striking CAGR of 11.50% between 2013 and 2019. The title of the report is "Blood Pressure Monitoring Testing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019".
As per the report, the increasing occurrence of low/high blood pressure around the world is owing to the rise in the aging population, and absence of physical activity, increasing stress levels, and sedentary lifestyles of younger demographics. The geriatric population, i.e. people over the age of 50, are more prone to high blood pressure - they have a close to 90% chance of developing high blood pressure. There are a number of factors responsible for causing hypertension in human beings, such as behavioral, metabolic, and social. Consuming tobacco and alcohol and following an unhealthy diet majorly contribute to hypertension. This is why there is a growing requirement for automated personal and self-care personal monitoring devices utilized for blood pressure monitoring testing.
The report segments the blood pressure monitoring testing market on the basis of product type and geography.On the basis of type, the market is segmented into automated blood pressure monitors, sphygmomanometers, ambulatory blood pressure monitors, blood pressure instrument accessories, and blood pressure transducers. Amongst these, the segment of digital sphygmomanometers is predicted to develop at a swift rate in comparison with the other types of sphygmomanometers such as aneroid and mercury. This is because digital sphygmomanometers are simple to utilize and present precise results. Factors such as the rising occurrence of heart diseases, obesity, diabetes, and other chronic conditions have boosted the market for blood pressure monitoring testing.
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On the basis of geography, the market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Among these, North America held the biggest share in the global market for blood pressure monitoring and testing owing to the fact that hypertension, i.e. high blood pressure, is amongst the main causes of cardiovascular diseases in this region. Around 76 mn Americans have low/high blood pressure and it is predicted that within the U.S., approximately 7 mn people die each year due to illnesses caused via hypertension. The increase in awareness amongst patients has raised the requirement for blood pressure monitoring devices in the U.S. and here the total cost of controlling hypertension is over US$75 bn.
According to the report, the blood pressure monitoring testing market is highly fragmented in nature. A&D Medical, Omron Healthcare, GE Healthcare, and Philips Healthcare, among others, are the prominent players dominating the market.