Blood pressure transducers market is expected to grow significantly over the forecast period. It is projected to grow at a CAGR of 5.2% over the forecast period.
Blood pressure transducer is a blood pressure monitoring equipment. The major applications of blood pressure transducers are arterial or venous blood pressure measurement, urodynamic measurement, intrauterine pressure measurement, and intracranial pressure measurement.
Rising geriatric population is one of the key factors driving the blood pressure transducers market. According to the data suggested by the World Health Organization (WHO), the world’s population aged 60 years and older is expected to total 2 billion and 80% of all older people will live in low- and middle-income countries by 2050. The pace of population ageing is much faster than in the past. In 2015, 900 million individuals were 60 years and older.
Various other factors such as sedentary lifestyle, lack of physical activities, technological advancements, presence of a large target patient population, rising patient awareness regarding the benefits of blood pressure transducers, availability of fiber optic blood transducers, and growing demand for disposable blood pressure transducers are also expected to propel the growth of the market.
However, stringent government regulations, high cost associated with technological development, and lack of trained professionals can hamper the market growth over the forecast period.
The Global blood pressure transducers market is segmented based on type, technology, procedure and region.
The Global market for blood pressure transducers, by type is segmented into reusable blood pressure transducers, and disposable blood pressure transducers.
The Global market for blood pressure transducers, by technology is segmented into digital, aneroid, and wearable.
Based on procedure, the market is segmented into intravascular blood pressure monitoring, and extravascular blood pressure monitoring.
Based on end user, the market is segmented into hospitals, clinics, ambulatory surgical centres, diagnostic laboratories, and others. The hospitals segment is anticipated to hold the largest market share owing to the increasing cases of cardiovascular disorders. The diagnostic centres are expected to grow at the highest growth rate owing to the rising demand for early diagnosis.
In the current scope of the study, the above-mentioned segments are covered into the four global regions, namely the Americas, Europe, Asia-Pacific and the Middle East & African region.
The blood pressure transducers market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European blood pressure transducers market has been segmented into Western Europe and Eastern Europe. Western Europe has been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The blood pressure transducers market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The blood pressure transducers market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary
Global Blood Pressure Transducers market Share (%), by Region, 2017
Sources: MRFR Analysis
The Americas dominated the global market for blood pressure transducers owing to presence of major market players and high prevalence of blood pressure within the region. According to the 2017 data suggested by the American College of Cardiology Foundation, around 34% of the Americas population have high blood pressure, and more than 45% of non-Hispanic Black women have hypertension.
In 2017, it was estimated that Europe stood second in the blood pressure transducers market. This can be attributed to the rising research and development investments.
Asia Pacific was projected to be the fastest growing region in 2017. Factors such as growing awareness among population, increasing prevalence of high blood pressure within the region, rising occurrence of obesity, and increasing healthcare expenditure drives the regional markets of the Asia Pacific region. According to the 2015 data suggested by the Australian Institute of Health and Welfare, nearly two-thirds (63%) of Australian adults were overweight or obese.
On the other hand, the Middle East and Africa held least share in the blood pressure transducers market due to the low per capita income, especially within the African region.
Some of the key players in the blood pressure transducers market are Medtronic plc, Omron Healthcare, GE Healthcare, Inc., Masimo Corporation, Spacelabs Healthcare, Utah Medical products, Inc., Edwards Lifesciences, ICU Medical, Becton, Dickinson and Company (BD), MEMSCAP, Argon Medical Devices, Merit Medical Systems, Fiso Technologies, Fogg System Company, Iworx Systems, Junken Medical, Medline Industries, and others.
Market Research Future research is conducted by industry experts who offer insights into industry structure, market segmentation, assessment, Competitive Landscape (CL), penetration, as well as on emerging trends. Besides primary interviews (~ 80%) and secondary research (~ 20%), their analysis is based on their years of professional expertise in respective industries. Our analysts also predict where the market will be headed in the next five to ten years, by analysing historical trends and current market positions. Furthermore, the varying trends of segments and categories geographically presented are studied and are estimated based on the primary and secondary research.
Extensive primary research was conducted to gain a deeper insight of the market and the industry performance. In this particular report we have conducted primary surveys (interviews) with key level executives (VPs, CEOs, Marketing Directors, Business Development Managers, and many more) of major players who are active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed, over the next five to ten years.
Secondary research was mainly used to collect and identify information useful for extensive, technical, market-oriented, and commercial study of the Blood Pressure Transducers. It was also used to obtain key information about major players, market classification, and segmentation according to industry trends, geographical markets, and developments related to the market and perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, SEC filings, journals, white papers, corporate presentations, company web sites, international organization of chemical manufacturers, some paid databases, and many others.
Market Segmentation and Key Market Players
Blood Pressure Transducers Market, by Type
Blood Pressure Transducers Market, by Technology
Blood Pressure Transducers Market, by Procedure
Blood Pressure Transducers Market, by End User