Changing the lifestyle of the people have introduced many diseases, which has ignited the demand for diagnosis, which requires a diagnostic device. The demand for such diagnostic devices has facilitated the development of the healthcare industry, along with the introduction of blood pressure test devices. Market focused reports associated with the healthcare sector and related to it have been lately available by Market Research Future, which states that global blood pressure test market is likely to nurture at a CAGR of 6.1% during the forecast period.
Blood pressure test market is expected to reach USD 1562 Million by 2030 at 5.6% CAGR during the forecast period 2022-2030.
Blood pressure test usually is practiced diagnosing hypertension, which is one of the significant risk factors for coronary heart disease. The tests are practiced mainly at hospitals, clinics, and diagnostic centers, to determine the elevation in the blood pressure in emergency cases. The blood pressure tests can also be performed at home with numerous blood pressure testing devices available in the market.
Key Players
The names of the key players operating in the global blood pressure test market are OMRON Corporation, SunTech Medical, Inc., SPENGLER, Koninklijke Philips N.V., Schiller AG, Spacelabs Healthcare, American Diagnostic Corporation, Bosch + Sohn GmbH u. Co. KG, Withings SA, Welch Allyn, Inc. (Hill-Rom), AD Medical, and General Electric Company.
Market Drivers Trends
The blood pressure test market has witnessed a gradual growth over the years due to the intensifying incidence of chronic diseases such as cardiovascular diseases, hypertension, diabetes, and others. The sturdiness of the devices, as well as prominent features, have led to a higher approval rate of the product. Increased preferences of usage of blood pressure test devices have boosted the growth of the global blood pressure test remarkably. The developing regions across the world are enforcing various benefits related to the tests for patients, which is considered to be another driving factor for the market to grow.
Apart from this, there has been relative changes in the lifestyle of the people, which has caused the development of many diseases. Therefore, to diagnose diseases among people, blood pressure tests are preferred, which is gaining the maximum traction for the market to grow considerably during the assessment period. Furthermore, the increasing demand for diagnostic devices for cardiovascular diseases is also facilitating market growth. Competitors in the market are investing increasingly in the development of testing devices to make available in every hospitals and healthcare centers. Besides, the competitors are also investing primarily to improve the technological advancements to the test devices to make it fast and accurate when required for any diagnosis, which is considered as another factor driving the market’s progress positively.
However, on the flip side, factors such as limited reach to the trained personnel associated to the diagnosing process of blood pressure and the high cost of diagnosis and treatment of cardiovascular diseases could be vital restrains for the growth of the global blood pressure test market in the years to come.
Market Segmentation
The blood pressure test market is segmented into product, indication, and end-user. In terms of the product, the market segment comprises of sphygmomanometers, blood pressure transducers, blood pressure instrument accessories, and others. Whereas, sphygmomanometers is further segmented into mercury, aneroid, and digital. Blood pressure transducers segment has sub-segments such as disposable and reusable and blood pressure instrument accessories is also further segmented as blood pressure cuffs, bladders, and bulbs valve. In terms of indication, the market segment comprises of hypertension, coronary heart disease, and others. Lastly, in terms of the end-user, the market segment includes hospitals clinics, diagnostic centers, home care, and others.
Detailed Regional Outlook
The blood pressure test market is segmented through regions such as Americas, Europe, Asia Pacific, and the Middle East Africa. Between these regions, the Americas have been the largest market for the global blood pressure test owing to the mounting incidence of cardiovascular diseases and diabetes. These have been the major factors for the rise of the market in this region. The study also includes that, according to the Center for Diseases Control and Prevention (CDC), approximately 9.3% of the total American population is suffering from diabetes. Apart from this, an increasing number of obese population, rising demand for better treatment for the diseases coupling with well-developed infrastructure has fueled the growth of the market in the Americas. The presence of advanced blood pressure test market has paved ways for market players to bring lucrative opportunities in treatment in the future.
The quick development of the healthcare sector is powering the growth of the blood pressure test market in the Europe region, which now stands at the second-largest position in market share. The steady increase in patient population along with high healthcare expenditure to present lucrative market growth potentials. Additionally, the increasing prevalence of diabetes in the European Union (EU) is also fueling the market progress. The existence of populated countries such as Germany, the U.K., and France hold the first, second, and third position in the market share, respectively.
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