LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global digital blood pressure monitors market is expected to grow at a CAGR of almost 10% during the forecast period.
This research report titled ‘Global Digital Blood Pressure Monitors Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global digital blood pressure monitors market is in its growth phase. Owing to growing market opportunities, companies are focusing on developing digital blood pressure monitors for homecare settings. There is a growing demand for digital blood pressure monitors among end-users such as hospitals, clinics, nurse-led clinics, ASCs, and physicians’ offices owing to their ease-of-use, which also helps to reduce the time period to monitor each patient.
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Technavio’s healthcare and life sciences research analysts categorize the global digital blood pressure monitors market into the following segments by end-user. They are:
- Hospitals and clinics
- Homecare settings
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Hospitals and clinics
Hospitals are the key end-users that influence market growth. They focus on providing better treatment and patient care by adopting digital blood pressure monitors, which can reduce the chances of error. For instance, hospitals have increased the demand for this equipment that is used in both outpatient and inpatient facilities. Most hospitals have budget constraints and are required to reduce medical expenses. This has made many hospitals avoid purchasing only blood pressure monitoring devices.
According to Srinivas Sashidhar, a lead patient monitoring devices research analyst from Technavio, “Large and medium-sized hospitals have the advanced medical infrastructure to cater to the needs of the people. In these hospitals, the diagnosis and monitoring of most surgical events are conducted in outpatient settings. The sales of digital blood pressure monitors in hospitals will increase due to the growing number of hospital admittance for surgical care.”
There is an increased need for monitoring chronic conditions outside of hospitals. The growing focus on offering more consumer-friendly outpatient services and locations has increased the demand for ASCs. ASCs have a limited number of suppliers. These centers often require third-party laboratory testing support and medical equipment for their healthcare services. Unlike large hospitals, the administration of these centers is often decentralized.
“In the UK, in March 2015, Tenet Healthcare, a hospital group company, announced that it would partner with United Surgical Partners International to build a short stay surgical center in the UK and spend more than USD 580 million for the same. Short stay centers or ASCs will increase patient adoption, which can lead to market growth,” adds Srinivas.
Homecare settings is a new trend and the fastest growing sector in the healthcare industry. Here, under the direction of a physician, a skilled professional provides treatment to an individual in his/her home.
Portable patient monitoring equipment was launched in the market for outpatient procedures and homecare settings. These equipment use remote monitoring wireless technology, which will propel the growth of the digital blood pressure monitors as well.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Omron Healthcare
- Philips Healthcare
- Smiths Medical
- Welch Allyn.
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