The global Digital Pressure Monitoring Market is expected to reach USD 13.66 billion in 2028 and register a revenue CAGR of 6.3% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth are increasing prevalence of chronic diseases such as cardiovascular diseases, neurological disorders, and pulmonary illnesses, increasing adoption of homecare settings, rising number of product approvals and increasing disposable income.
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There has been rapid increase in the prevalence of various chronic diseases such as cardiac diseases, high blood pressure, brain injuries, pulmonary disorders across the globe mainly due to changing lifestyle, unhealthy eating habits, excess tobacco consumption. Pressure monitors play an important role in analyzing and detecting various health issues. These monitors help the healthcare professionals and healthcare teams to provide treatment and take necessary actions. Revenue growth of the global market is attributed to factors such as increasing demand for advanced pressure monitoring devices amidst the COVID-19 pandemic, increasing adoption of remote monitoring, and rising investments for developing advanced, cost-effective, and user-friendly pressure monitoring devices. However, factors such as high initial investments, inaccessibility to latest pressure monitoring services in many hospitals, and clinics in underdeveloped countries due to budget constraints, and side effects such as pain, bruising, or skin irritation are expected to hamper overall market growth during the forecast period. In addition, dearth of skilled healthcare professionals to operate advanced systems and short shelf life of devices are other factors expected to hamper global market growth.
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The report further provides a thorough estimation of market share and size in each key geographical region along with key factors such as regulatory framework, investment and funding, technological advancements, import/export, and consumer demand in each region. In addition, the report also present a complete coverage of key companies in each region along with their company profiles, production and manufacturing capacities, product portfolio, and business expansion plans.
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Some key highlights of the report:
- Based on product, the pulmonary pressure monitors segment is expected to register fastest CAGR during the forecast period. Factors such as increasing pulmonary diseases and subsequent complications, high demand for advanced, compact pulmonary pressure monitors in hospitals, ambulatory services, and home care settings, and increasing production of various pulmonary pressure monitoring systems during the COVID-19 outbreak are expected to drive revenue growth of the segment going ahead.
- Among the end-use segment, the hospital segment accounted for largest revenue share in 2020 and is expected to continue its leading position during the forecast period. This can be attributed to factors such as increasing patient admission, rising number of hospitals across the globe, availability of advanced pressure monitoring devices such as intracranial pressure monitors, blood pressure monitors, and increasing healthcare expenditure.
- Europe is expected to account for significant revenue growth over the forecast period. This can be attributed to factors such as increasing prevalence of cardiovascular diseases, pulmonary illnesses, and neurological disorders, rising investments for developing enhanced, easy to use, and durable pressure monitoring systems, and increasing geriatric population. High adoption of ambulatory care services, presence of skilled healthcare professionals, and availability of various pressure monitoring systems are other factors fueling global market growth in Europe.
- Asia Pacific market revenue is expected to expand at rapid CAGR of 7.3% between 2021 and 2028 owing to factors such as rising incidence of chronic and acute diseases, increasing adoption of latest pressure monitoring devices, and increasing geriatric population. In addition, increasing healthcare spending, improving healthcare infrastructure, and increasing demand for oximeters, spirometers amidst the coronavirus pandemic are expected to fuel market growth going ahead.
- Philips Healthcare, Welch Allyn, Inc., GE Healthcare, Nihon Kohden Corporation, Raumedic, Drägerwerk AG Co. KGaA, Medtronic plc., Becton, Dickinson and Company, Nonin Medical Inc., AD Medical, Omron Healthcare, Inc., SunTech Medical, Inc., Smiths Medical, Pulnovo Medical(Wuxi) Co.,Ltd, Icare Finland OY, Essilor Group, and Nidek Co., Ltd. are some key players operating in the global Digital Pressure Monitoring Market.
For the purpose of this report, Reports and Data has segmented the global Digital Pressure Monitoring Market on the basis of type, application, end use and region:
Type Outlook (Revenue, USD Billion, 2018-2028)
- Blood Pressure Monitors/Cardiac Pressure Monitors
- By Device
- Automated BP Monitors
- Ambulatory BP Monitors
- Sphygmomanometers
- BP Transducers
- By Technology
- Digital
- Aneroid
- Wearable
- By Accessory
- Blood Pressure Cuffs
- Manometers
- Valves and Tubing
- Bulbs
- Pulmonary Pressure Monitors
- By Device
- Oximeters
- Capnographs
- Spirometers
- By Accessory
- Flanged Mouth Pieces
- Nasal Probes
- Filters
- Nasal Plugs
- Valves
- Others
- Intraocular Pressure Monitors
- By Accessory
- Prisms
- Prisms Sterilizers
- Tip Covers
- Sensors
- Others
- Intracranial Pressure Monitors
- Other Pressure Monitoring Devices
- By Accessory
- By Device
- By Device
Therapeutic Application Outlook (Revenue, USD Billion, 2018-2028)
- Respiratory Disorders
- Glaucoma
- Cardiac Disorders
- Neurological Disorders
- Dialysis
- Others
End Use Outlook (Revenue, USD Billion, 2018-2028)
- Hospitals
- Home Care Settings
- Ambulatory Surgical Centers and Clinics
- Diagnostic Laboratories
- Others
Regional Outlook (Revenue, USD Billion, 2018-2028)
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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Key Questions Address in the Report:
- What is the growth rate of the Digital Pressure Monitoring Market? What is the market size the Digital Pressure Monitoring Market is expected to reach by 2028?
- What are the key growth driving and restraining factors of the Digital Pressure Monitoring Market?
- Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
- What are key opportunities and growth prospects of the Digital Pressure Monitoring Market over the forecast period?
- Which region is expected to show significant growth in the coming years?
- Which application segment is expected to be the most lucrative over the forecast period?
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