Market Overview:
The Pressure Monitoring System Market size is expected to grow from USD 15.1 Billion in 2022 to USD 39.4 Billion by 2030, at a CAGR of 12.8 % during the forecast period.
Pressure monitoring plays an important role in detecting the health problems of a patient. The major fluctuations of pressure in the vital areas of the body may cause various chronic and acute diseases such as diabetes, cardiac arrest, and glaucoma. The increase in the prevalence of the above-mentioned diseases and the growing aging population have increased the need for pressure monitoring and control in the market. In addition, pressure monitoring devices are an absolute necessity for accurately measuring and keeping an eye on a patient's hypertension.
Top Key Players for Pressure Monitoring System Market:
Philips Healthcare (The Netherlands), GE Healthcare (United Kingdom), Weich Allyn inc. (United States), 3F Medical Systems (China), A&D Company Limited (Japan), Medtronic (United States), Drägerwerk AG & Co KGaA (Germany), and Other Major Players
Market Dynamics and Factors for Pressure Monitoring System Market:
Drivers:
Rising Prevalence of Chronic and Acute Diseases
The rising prevalence of chronic and acute diseases indeed serves as a significant driver for the pressure monitoring system market. Pressure monitoring systems play a crucial role in healthcare settings, as they enable continuous monitoring and management of patients' vital signs, particularly blood pressure, which is a vital parameter in diagnosing and managing various medical conditions. Chronic diseases like hypertension, cardiovascular diseases, and diabetes require continuous monitoring of blood pressure to assess patients' health status and response to treatments. Pressure monitoring systems provide real-time data, allowing healthcare providers to make timely and informed decisions for better patient outcomes.
Opportunities:
Opportunity in Growing Adoption in Home Care
The growing adoption of pressure monitoring systems in home care settings presents a significant opportunity for the pressure monitoring system market. Home care is a healthcare delivery model that allows patients to receive medical services and monitoring in the comfort of their own homes. As the global population continues to age, the prevalence of chronic diseases, such as hypertension and cardiovascular conditions, also increases. Pressure monitoring systems enable older adults to manage their blood pressure at home, empowering them to actively participate in their health management.
Segmentation Analysis of the Pressure Monitoring System Market:
By Device Type, A blood pressure device, also known as a blood pressure monitor or sphygmomanometer, is a medical device used to measure and monitor a person's blood pressure. It provides essential information about the pressure of blood against the walls of the arteries as the heart pumps blood throughout the body. Blood pressure is typically expressed as two values: systolic pressure (the higher value) and diastolic pressure (the lower value).
By End-User, Hospitals are healthcare institutions that provide medical treatment, care, and services to patients suffering from various illnesses, injuries, and medical conditions. Hospitals are an essential part of the healthcare system and play a critical role in promoting health, preventing diseases, and saving lives.
Regional Analysis of the Pressure Monitoring System Market:
The market is dominated by North America, which is also responsible for a sizable portion of the total market share. This is the case because North America is the largest market. The expansion of this market is being fueled by a number of different factors, the most important of which are the presence of key market players in North America, the rising prevalence of chronic and acute diseases such as hypertension and cardiac diseases, technological advancements, the acceptability of non-invasive pressure monitors among patients, and the increasing availability of these monitors. Other factors that are contributing to the growth of this market include the increasing availability of these monitors.
Key Industry Development:
In February 2022, InBody has introduced an autonomous blood pressure monitor that may be used at home. Inbody has come out with a brand-new automatic blood pressure monitor called the BP 170. This monitor gives consumers the choice to self-record and keeps track of important health metrics in their own homes. The new device, which employs the oscillometric approach, is capable of correctly monitoring a person's diastolic and systolic blood pressure as well as their pulse rate on a daily basis. The new InBody BP 170 at-home device can be used by attaching the one-touch cuff to one of your arms and beginning the reading with the press of a button.
In May 2021, Biobeat, a global leader in wearable remote patient monitoring solutions for the healthcare continuum, launched its new wearable and continuous ambulatory blood pressure monitoring (ABPM) chest-monitoring device. ABPM stands for ambulatory blood pressure monitoring, and it monitors a patient's blood pressure while they move around.
For this report, Introspective Market Research has segmented the Pressure Monitoring System Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
