Global Blood Pressure Monitor Market – Overview
Blood pressure can be defined as a force that is exerted by flowing blood on the walls of vessels as heart pumps it. If the blood pressure increases about the normal pressure, it may lead to several health problems such as diabetes, heart attack, stroke, peripheral vascular disease, hypertension, and other cardiovascular problems. The global blood pressure monitor market is expected to witness a highly promising growth in the coming years of the forecast period as sedentary and unhealthy lifestyles are causing hypertension problems among global population.
Blood pressure monitoring instruments include sphygmomanometers (aneroid sphygmomanometers and digital sphygmomanometers), blood pressure transducers (reusable transducers and disposable transducers) and ambulatory and automated BP monitors. Among all the instruments digital sphygmomanometers is likely to grow at a faster rate in the coming years as they are easy to use and provides accurate analysis.
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Global Blood Pressure Monitor Market – Key Players
The competition in the global blood pressure monitor market is high. The companies in the market are constantly doing R&D activities to stay ahead of the competition. In addition to this, the companies are adopting aggressive growth strategies such as mergers, acquisitions, collaborations, strategic alliances and partnerships in order to stay ahead of the competitive curve. The growth in the industry is characterized by the growing investments by the leading companies for the development of cost-efficient equipment.
- In February 2019, PhysIQ Inc. and Omron Healthcare entered into a collaborative agreement for integrating HeartGuide wearable BP monitor of Omron into pinpointIQ platform used in outpatient facilities.
Some of the key players in the in the global blood pressure monitor market are Omron Healthcare Welch Allyn, Inc., A&D Medical Inc., SunTech Medical, Inc., American Diagnostics Corporation, Withings, Briggs Healthcare, GE Healthcare, Kaz Inc., Microlife AG, Rossmax International Ltd., GF Health Products Inc., Spacelabs Healthcare Inc., and Philips Healthcare.
Global Blood Pressure Monitor Market – Drivers and Restraints
There are multiple factors that are projected to drive the overall development of the global blood pressure monitor market. One of the key factors that is driving the market growth has been the increasing cases of diabetes among global population. In addition to growing geriatric population is also a key growth factor for the development of the global market in recent years.
Another important factor helping to drive the development of the global blood pressure monitor market is the increasing initiatives undertaken by government all across to spread awareness about emergence of hypertension and ways to control it.
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Global Blood Pressure Monitor Market – Geographical Outlook
Based on the geographical segmentation, there are five key regions of the global blood pressure monitor market. These regions are North America, Latin America, Middle East and Africa, Asia Pacific, and Europe. Of these, currently, the global blood pressure monitor market is being dominated by the regional segment of North America. The region is expected to continue to dominate over the course of the given forecast period ranging from 2020 to 2030. The growth of the region is mainly attributed to the increasing prevalence of age-related physical degeneration among the population residing there. In addition to this, presence of a highly developed healthcare infrastructure to drive the growth of the regional market.
On the other hand, the regional segment of Asia Pacific is expected to witness a promising growth rate in the coming years of the forecast period. One of the key factors driving the market growth has been the increased spending by emerging economies for the development of their healthcare infrastructure.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.