Blood Pressure Transducers Market Highlights 2020 – 2029
The blood pressure transducers market is estimated to garner a significant revenue by growing at a notable CAGR over the forecast period, i.e., 2021-2029. The growth of the market can be attributed to the growing geriatric population and increasing prevalence of hypertension among individuals worldwide. According to the World Health Organization (WHO), it is predicted that the number of people aged 60 years and older will rise up from 1 billion in 2019 to 1.4 billion by the end of 2030. Moreover, the lifetime risk of suffering from hypertension is more than 80% for individuals between the ages of 60-65 years. Major lifestyle changes and lack of physical activities intensify the possibility of blood pressure issues as well, which is anticipated to raise the demand for BP transducers, and in turn drive the growth of the market. Technological advancements and increasing awareness about health problems are also projected to fuel the market progress.
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The market is segmented by type into reusable and disposable, out of which, the segment for disposable transducers is anticipated to hold a notable market share in the year 2021 on account of their ease of use and low cost of these appliances. As the name suggests, disposable transducers are disposable in nature, and these medical equipment helps in reducing hospital infections.
The market is also segmented on the basis of end-user into hospitals, clinics, ambulatory surgical centers, and diagnostic laboratories, out of which, the diagnostic centers segment is anticipated to grow at the highest CAGR throughout the forecast period. The growth of the segment can be attributed to the growing need for early diagnosis of diseases, whereas, the hospitals section occupies the largest market share in the year 2021 owing to the rising prevalence of cardiovascular diseases.
Global Blood Pressure Transducers Market Regional Synopsis
Geographically, the blood pressure transducers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing incidents of hypertension, rising health awareness and growing investments by manufacturers. Moreover, rising emphasis to improve healthcare sector by governments of developing nations is also expected to drive growth to the market. For instance, according to secondary sources, Indian government aims to increase healthcare expenditure to almost 3% of the total GDP share by 2022.
As of 2021, the market in North America is estimated to generate the highest revenue. The growth of the market in the region can be attributed to the well-established and developed healthcare facilities in nations such as the United States. Ongoing technological advancements to develop more effective medical devices also play a crucial role in the progress of the market in this region.
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The global blood pressure transducers market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Blood Pressure Transducer Market Segmentation
Our in-depth analysis of the global blood pressure transducers market includes the following segments:
By Type
- Reusable
- Disposable
By Technology
- Digital
- Aneroid
- Wearable
By End-User
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Diagnostic Laboratories
Growth Drivers
- Concerns Associated with the Increasing Prevalence of Blood Pressure
- Growing Geriatric Population
- Rising Awareness about Health Issues
Challenges
- Lack of Skilled Experts
- Issues Associated with Inaccurate Measurements of Blood Pressure Transducers
Top Featured Companies Dominating the Market
- Utah Medical Products, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- ICU Medical, Inc.
- Edwards Lifesciences Corporation
- B. Braun Melsungen AG
- Argon Medical Devices, Inc.
- Koninklijke Philips N.V.
- OMRON Corporation
- A & D Company, Limited
- Hillrom Services, Inc.
