Blood Pressure Transducers Market Insights
The blood pressure transducer is a device for monitoring blood pressure. The main applications of blood pressure transducers are blood or venous pressure measurements, urodynamic measurements, intrauterine pressure measurements, and intracranial pressure measurements. Market Research Future predicted that the global blood pressure transducers market would reach a CAGR at 5.2% during the forecast period, 2018-2023.
The increasing geriatric population is one of the most important factors in the blood pressure transducer market. As per the data from the World Health Organization, the world’s population aged 60 and over should reach up to 2 billion people, and 80% of all older people will dwell in low and middle-income countries by 2050. The pace of the growing geriatric population is much faster than in the past. In 2015, 900 million people were 60 or older. These figures directly impact the demand for desired treatment.
Several other factors, such as sedentary lifestyle, lack of physical activity, technological progress, presence of a large group of target patients, increased patient awareness of the benefits of blood pressure transducers, availability of fiber optic transducers, and increasing demand for single-use blood pressure transducers also spurs market growth.
However, severe government regulations, high costs related to technological development, and the lack of skilled professionals might limit the progress of the global market during the forecast period.
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Blood Pressure Transducers Market Segmentation
The blood pressure transducers market is segmented by type, procedure, and technology.
On the basis of type, the global blood pressure transducers market is segmented into reusable transducers and disposable transducers. The demand for disposable BP transducers is radically increased due to rising occurrence of hypertension owing to inactive lifestyle. Peaking of blood pressure are majorly caused by lack of exercise, consumption of alcohol and tobacco, obesity, and other risk factors such as increased levels of stress and diabetes.
The global market for blood pressure transducers is segmented by digital, portable, and aneroid.
Based on the procedure, the market is segmented between intravascular blood pressure monitoring and extravascular pressure monitoring.
Based on the end-user, the market is divided into hospitals, clinics, outpatient clinics, diagnostic laboratories, and so on. The hospital segment is a major contributor, based on the largest market share, due to the increasing number of cases of cardiovascular disease. Diagnostic centers are expected to experience the greatest growth due to the growing demand for early diagnosis.
Blood Pressure Transducers Market Regional Insights
The Americas leads the global market for blood pressure transducers due to the presence of major market players and the high prevalence of blood pressure in the region.
In 2017, Europe was the world’s second-largest blood pressure transducer market. This can be attributed to increased investment in research and development to develop high-tech blood pressure transducers.
The Asia Pacific region is likely to face the fastest growth in 2017. Factors such as rising population awareness, rising prevalence of high blood pressure in the region, rising obesity, and health spending are fueling regional markets in the Asia Pacific region.
On the other hand, the Middle East and Africa had the lowest share in the world blood pressure transducer market due to low per capita income, especially in the African region.
Blood Pressure Transducers Market Major Players
Technology companies are majorly focusing on adopting latest technologies such as nano components and analytic tools to 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.
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