Ambulatory blood pressure monitoring market globally is expected to foresee a compound annual growth rate (CAGR) of 6.8% from 2020 to 2027. Due to the growing demand for self-health monitoring devices to record blood pressure, the market for ambulatory blood pressure monitors (ABPM) is expected to see increasing demand trend during the forecast period. The demand for ambulatory blood pressure monitors is expected to see substantial growth over the forecast period, as these personalized and portable devices are used due to their simple handling mechanism in a large number of home healthcare settings. The demand for self-health monitoring devices is growing dramatically due to the increasing population of diabetes and chronic kidney disease being at risk of high blood pressure.
Global Ambulatory Blood Pressure Monitoring (ABPM) market is segmented into by product, by end user and by geography. By product, the market is segmented into arm monitors and wrist monitors. By end user the market is further segmented into hospitals, ASCs and Other applications. By end users, the global Ambulatory Blood Pressure Monitoring (ABPM) market is segmented into hospitals, ambulatory surgical centers and others. The hospital segment acquires the maximum revenue share at present and is expected to remain so during the entire forecast period. The major geographies covered under the scope of Global Ambulatory Blood Pressure Monitoring (ABPM) market are North America, Asia Pacific, Europe and Rest of the Global (RoW). North America is further segmented into the U.S., Mexico and Canada. Europe is segmented into UK, Germany, France, Italy, Spain and Rest of Europe. The key countries covered under Asia Pacific are China, India, and Rest of APAC. Similarly, Rest of the World (RoW) is bi-furcated into South & Central America, Middle East and Africa.
The scenario at present is different as it had been few years before. There are many suppliers and buyers in the ambulatory blood pressure monitoring systems market. This is a new trend that has emerged ion the few years recently. Going to the hospitals and clinics had been the historical trend when people used to go to a hospital or a clinic to have their blood pressure checked. There are many players in the market offering ambulatory blood pressure monitoring devices across the globe such as OSI Systems Inc., SunTech Medical Inc., Andon Health Co. Ltd., Schiller AG, Omron Healthcare Co. Ltd., Beurer GmBH, Finapres Medical Systems B.V., Welch Allyn, Inc., and Koninklijke Philips N.V. among others. Also, there are many buyers of the ambulatory blood pressure monitoring devices. So, the switching cost is high as availability of similar products is available in the market easily. The competitive rivalry among market players is found to be high in the current scenario and is expected to be high during the forecast period as well. There are big healthcare companies offering level-1 products and competing against the manufacturers who are competing at their level. In the other scenario, the manufacturers offering substitutes compromising the quality are also facing tough competition among each other.
There are many players operating in the global ambulatory blood pressure monitoring systems market such as OSI Systems Inc., SunTech Medical Inc., Andon Health Co. Ltd., Schiller AG, Rudolf Riester GmbH, Vaso Corporation, BPL Group, Omron Healthcare Co. Ltd., Bosch & Sohn GmbH & Co. KG, Spacelabs Healthcare, Inc., Beurer GmBH, Finapres Medical Systems B.V., Contec Inc., Welch Allyn, Inc., and Koninklijke Philips N.V. Other players involve Mortara Instrument, Inc., Daray Medical, Omron Healthcare Company, and Microlife Corporation. These players are competing against each other to acquire the major chunk of the market. However, the competition among these players is expected to be high even during the forecast period. Further, the threat of new entrants entering the market as it holds huge potential during the forecast period would also increase the competition. Rising demands of the ambulatory blood pressure monitoring systems has attracted many other players to enter the market as the adoption rate of such products is analyzed to be very high in the coming years as well.
Scope of Global Ambulatory Blood Pressure Monitoring (ABPM) Market Segments
The market is segmented on the basis of product, end user and geography.
• Arm ABPM
• Wrist ABPM
By End User
• Ambulatory Surgical Centers (ASCs)
• Other End Users
• Rest of Europe
• Rest of Asia-Pacific
Rest of the World (RoW)
• South & Central America
• Middle East