Preference for Home Care Monitoring Devices to Create Opportunities for the Global Ambulatory Blood Pressure Monitoring Market Through 2020, Reports Technavio

Technavio analysts forecast the global ambulatory blood pressure monitoring market to grow at a CAGR of over 10% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global ambulatory blood pressure monitoring market for 2016-2020. The report divides the market into three regions which are the Americas, Europe and APAC. The report also presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market. It also examines key emerging trends and their influence on current and future market scenarios.

Technavio healthcare and life sciences analysts highlight the following four factors that are contributing to the growth of the global ambulatory blood pressure monitoring market:

• Increasing incidence of hypertension
• Preference for home care monitoring devices
• Favorable reimbursement scenario in Europe
• Online marketing strategies

Increasing Incidence of hypertension

A rise in hypertension, obesity, and depression cases worldwide leads to the demand for ambulatory blood pressure monitors. These devices can help monitor the blood pressure and diagnose the onset of various cardiovascular disorders such as heart failure, stroke, coronary artery disease, and peripheral vascular disease, which result in over 17 million deaths each year according to WHO.

According to Barath Palada, a lead analyst at Technavio for patient monitoring devices research, “The hazards of modern life-styles such as unhealthy food habits and limited physical activity along with smoking and alcohol consumption have led to the increasing incidence of hypertension among people. Therefore, a large number of individuals need to undergo regular blood pressure monitoring to keep their condition in check, which in turn, augurs well for the growth of the ambulatory blood pressure monitoring market.”

Preference for home care monitoring devices

Hypertension is a chronic condition, but can be managed with medication and a better lifestyle. Many people are focusing on reducing their medical expenditure and hospital stays, with emphasis on quality care and disease management. Since 2005, most people have opted for home care-based treatment over hospital care. This paradigm shift has helped people take an active role in managing hypertension. They can opt for devices such as digital, portable, and easy-to-use ambulatory blood pressure monitors that allow better diagnosis and management of hypertension from the comfort of their homes. These devices have enabled self-care for people with low or high blood pressure thus leading to a worldwide increase in demand for ambulatory blood pressure monitoring devices, particularly in developed countries.

Favorable reimbursement scenario in Europe

Reimbursement policies governing ambulatory blood pressure monitors are favorable in some European countries. WHO ranks Spain seventh in the world for the country's universal public healthcare system. Medical facilities in the country continuously improve their infrastructure and implement advanced diagnostics and technologies. In Spain, public healthcare is free and covers all citizens. Italy also provides a national health plan that is universal and provides minimal or free medical coverage for citizens. The plan covers in-patient and outpatient costs and hospital stays. In the UK, the National Health Service follows the concept of universal coverage. Citizens are entitled to use free medical services at the point of use. “Medical facilities in these countries offer ambulatory blood pressure monitoring services for free, thus leading to a rise in the demand for the procurement of associated devices,” says Barath.

Online marketing strategies

Vendors are using online marketing and promotional strategies to offer better accessibility of their products to consumers and increase their product sales. Online marketing strategies also help vendors minimize setup, distribution, and operational costs. Many large and small vendors are selling ambulatory blood pressure monitors online, which offers greater convenience to consumers. Vendors also provide online discounts or promotional offers, which has further surged online sales of ambulatory blood pressure monitors. The products available online are also sold with the manufacturer's warranty card. Online selling of ambulatory blood pressure monitors can further boost sales, thus increasing the revenue of vendors. Omron and Microlife are two of the vendors offering their products online.

Browse Related Reports:

• Global Blood Pressure Monitoring Market 2016-2020
• Global MEMS Pressure Sensors Market 2015-2019
• Global Hemodynamic Monitoring Market 2016-2020

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About Technavio

Technaviois a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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