- Market Growth.
- Geographical Growth.
The major factors responsible for the growth of the pressure monitoring are the rising prevalence of chronic and acute diseases, growth of aging population, new product launches, increase in the lifestyle related diseases, and technological advancements.
The overall market for pressure monitoring is expected to reach $8,040.6 million by 2020 from $6,000.0 million in 2015, growing at a CAGR of 5.0% from 2015 to 2020.
Factors such as rising prevalence of chronic and acute diseases increase in the aging population, new product launches, and technological advancements are driving the growth of this market. On the other hand, high cost of technological advancements, lack of trained professionals, accuracy of the devices and short shelf life is hindering the growth of this market.
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Increase in the prevalence of the above mentioned diseases and growing aging population have increased the need for pressure monitoring and control in the market.
Due to these factors, the demand for pressure monitoring is increasing. On the other hand, lack of trained professionals, short shelf life of the device, accuracy of devices has may restrain the growth of the market.
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Geographical Growth Analysis:
Geographically, the market is dominated by North America, followed by Europe. North America is expected to account for the largest share of the global market in 2015, with Asia having the highest growth rate during the forecast period.
Some key players mentioned in the research report are:Key players in the Pressure Monitoring Market include Philips Healthcare (The Netherlands), GE Healthcare (U.K.), Welch Allyn, Inc. (U.S.), Medtronic (U.S.), and Drägerwerk AG & Co. KGaA (Germany).
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