The Global Blood Pressure Monitoring and Measurement Instruments Market is Forecast to Exceed US$2.6 Billion by 2020
Aging Population Drives Demand for Blood Pressure
Monitoring & Measurement Instruments, According to a New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Blood
Pressure Monitoring and Measurement Instruments. The global Blood Pressure Monitoring and
Measurement Instruments market is forecast to exceed US$2.6 billion by 2020, driven by the rising prevalence of hypertension among the elderly.
Hypertension is
rapidly becoming a worrisome public health issue worldwide. The rising
prevalence of high blood pressure in adults represents a major economic and
social burden in both developed and developing countries. By 2025, the number
of hypertension cases globally is projected to rise to 1.5 billion, equating to
approximately 30% of the total adult population. About 75% of these patients are
forecast to come from the developing countries. Major lifestyle factors
aggravating the prevalence of high blood pressure include unhealthy lifestyles,
lack of outdoor exercise, excessive alcohol consumption, obesity, rise in
stress levels, and diets high in sodium and low in proteins and essential
minerals. Other risk factors for developing hypertension include age, genetic
predisposition, and pre-existing health conditions like cardiovascular diseases
and kidney diseases. In North America, elevated blood pressure is the leading
cause behind the rising number of cardiovascular diseases. Each year,
approximately seven million Americans succumb to illnesses caused by high blood
pressure.
Future growth in the market will be driven by the rapidly aging
population, changing lifestyles particularly in the developing countries, and introduction
of technically advanced products. Prevalence of hypertension is very high in
the elderly population with about 70% of high blood pressure patients being
above the age of 60. Government policies and initiatives for the control
and effective management of the epidemic nature of hypertension, bodes well for
growth in the market. Technology innovations benefiting growth include the
development of advanced, lightweight, discreet BP monitors; morning
hypertension indicators; solar-powered, talking blood pressure monitors; and monitors
with memory, time and date features. Poised to witness strong sales are smart blood
pressure monitoring systems with the capacity to automatically measure
blood-glucose levels and send out alerts when changes in blood pressure
readings are outside the normal range.
As stated by the new market research report on Blood Pressure
Monitoring and Measurement Instruments, the United States represents
the single largest market worldwide. Asia-Pacific represents the fastest growing
market with a CAGR of 9.2% over the analysis period. Key factors driving growth
in the region include the rise in health literacy among the growing population,
establishment of new healthcare institutions and public health systems, rising
standards of living, increasing per capita healthcare spending, and
consumer adoption of sophisticated self-care regimes.
Key players covered
in the report include A&D Medical, American Diagnostic Corporation, Bokang
Instruments Co., Ltd., Briggs Healthcare, Draegerwerk AG & Co., KGaA, Spirit
Medical Co., Ltd., GE Healthcare Ltd., Kaz Inc., GF Health Products Inc., Microlife
AG, Omron Healthcare Co., Ltd.,
Philips Healthcare, Rossmax International Ltd., Shenzhen Kingyield Technology
Co., Ltd., Spacelabs Healthcare Inc., SunTech Medical Inc., W. A. Baum Co.
Inc., Welch Allyn Inc., and Withings, among others.
Comments
Post a Comment