Pressure Monitoring Devices Market Overview
Pressure Monitoring Devices are useful in assessing the health condition of an individual. Pressure Measurement is the analysis of an applied force by a fluid on a surface. It is usually measure in terms of force per unit surface area. One the most commonly used pressure monitoring devices is sphygmomanometer, also referred as blood pressure monitor is a devices used to measure blood pressure. Measurement of the blood pressure is carried out in the diagnosis and treatment of hypertension (high blood pressure), and in many other healthcare scenarios. Similarly, there are other types of pressure monitoring devices used for various other purposes.
Primary factors accounted for driving the market are increasing prevalence of chronic and acute diseases like hypertension and cardiac diseases, growing geriatric population, technological advancements and increasing demand for non-invasive pressure monitors are boosting the pressure monitors devices market. However, factors like expensive product prices, lack of trained professionals, accuracy of devices and their short shelf life are hindering the growth of market.
Pressure Monitoring Devices Market Forecast Report (2018-2023)
Global Pressure Monitoring Devices Market was worth USD 7,293.04 million in 2018 and estimated to be growing at a CAGR of 5.0%, to reach USD 9,307.97 million by 2023.
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Pressure Monitoring Devices Market Segmentation
The Global market for Pressure Monitoring Devices is segmented based on Product Type, Procedure, Therapeutic Application, Usability and End User. Based on Product Type it is divided into Blood Pressure Monitors, Intraocular Pressure Monitoring, Pulmonary Pressure Monitoring, Intracranial Pressure Monitoring and Others. Based on Procedure it is divided into Invasive and Non Invasive. Based on Therapeutic Application it is divided into Respiratory Disorders, Glaucoma, Cardiac Disorders, Neurological Disorders, Dialysis and Others. Based on Usability it is divided into Disposable and Reusable. Based on End User it is divided into Hospitals, Home Care Settings, Ambulatory Surgical Centers/Clinics, Diagnostic Laboratories and Others.
Blood pressure monitoring devices hold the major share in the market due to high prevalence of hypertension and are expected to grow the fastest due to increasing use of non-invasive devices and patient compliance. Based on End Users hospitals hold the major share in the market while home care settings are expected to grow the fastest due to increasing shift towards home based health care system which reduces hospital costs and stays.
Based on Geographical analysis the market is separated into regions of North America, Asia-Pacific, Europe, Latin America and Middle East and Africa. North America is dominating the market due to presence of a developed healthcare infrastructure as well as market players. Asia Pacific is expected to grow the fastest owing to its increasing disposable income, increasing R&D expenditure and advancements in healthcare facilities.
The major companies dominating this market for its products and services are
- Philips Healthcare,
- GE Healthcare,
- Medtronic PLC,
- Drägerwerk Ag & Co. KGAA,
- Welch Allyn,
- Dickinson and Company,
- Nonin Medical Inc.,
- Smiths Medical and
- A and D Medical.
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