Ambulatory blood pressure monitoring: Key market research findings
- Shift from a physician-centric model to a patient-centric model
- Increased sales due to the availability of ambulatory blood pressure monitors online
- Key vendors—A&D Company, Omron, Spacelabs Healthcare, SunTech Medical, and Welch Allyn
Technavio’s market research analysts estimate the global ambulatory blood pressure monitoring market to grow at a CAGR of almost 11% between 2016 and 2020. The increasing preference for home care monitoring devices is the fundamental driving force behind the growth of the market. The number of people opting for home care-based treatment is on the rise due to the increasing focus on reducing medical expenditure and hospital stays. People are increasingly adopting devices such as digital, portable, and easy-to-use ambulatory blood pressure monitors to diagnose and manage hypertension from the comfort of their homes. At present, the Americas dominate the market and occupy over 47% of the overall market share. A favorable reimbursement scenario, the presence of a large number of vendors and an increase in cognizance brought on by awareness campaigns are factors that will influence growth of the market of the market in this region by 2020.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments
“The latest trend in the market is the shift from a physician-centric model to that of a patient-centric one. This shift is causing a substantial increment in peoples’ involvement in treatment options. Vendors are investing more in advertising and campaigns for proper value positioning, and eventually, high returns on investment. Moreover, there are various awareness initiatives taken by medical facilities about blood pressure monitoring devices,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
Vendors are making use of online marketing and promotional strategies to create awareness and offer better accessibility to their products in an attempt to boost sales. The use of online strategies helps minimize setup, distribution, and operational costs. Furthermore, the availability of ambulatory blood pressure monitors online makes it convenient for the customers looking to purchase them. Omron and Microlife are some of the vendors that are offering their products online.
The key vendors in the global ambulatory blood pressure monitoring market include A&D Company, Omron, Spacelabs Healthcare, SunTech Medical, and Welch Allyn. The global ABPM system market is fragmented owing to the presence of numerous global, local, and emerging vendors. In this market, a few small- and medium-sized companies are offering products that are fairly priced so that they can consolidate their market shares. Though these small- and medium-sized enterprises offer products at lower prices, they are facing intense competition from vendors who are marketing products with better quality, features, and capabilities.
A more detailed analysis is available on the Technavio report, Global Ambulatory Blood Pressure Monitoring Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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