Stress Blood Pressure Monitors Market Demand and Growth Analysis with Forecast up to 2024
Diagnosis and monitoring of cardiopulmonary disorders is gaining importance in the health care industry to reduce deaths occurring due to various cardiovascular and pulmonary disorders. Measurement of systolic and diastolic blood pressure during exercise is difficult due to patient motion and environmental noise. Stress blood pressure monitors are specifically designed to overcome the high noise and high motion environment of a stress lab. Stress blood pressure monitors are used by cardiology professionals in a stress lab while performing a cardiac stress test.
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The global geriatric population has increased rapidly in the past few years. According to the World Health Organization (WHO), people aged above 65 years form the fastest growing population segment globally. The percentage of the world’s population above 60 years is projected to double from 11% to 22% between 2000 and 2050. Moreover, the global geriatric population is likely to increase at the fastest rate in developed countries such as the U.S., the U.K., and Japan. Brazil, China, Thailand, and South Korea are expected to have a large geriatric population in a short span of time in the near future. This demographic shift toward geriatric population will result in higher burden of coronary artery disease (CAD), as aged individuals are more prone to cardiac disorders due to high total serum cholesterol levels. CAD accounts for 82% deaths in people aged 65 years and above. The prevalence rate of coronary heart disease in the U.S. is likely to increase by 26% between 2010 and 2040.
The global stress blood pressure monitors market can be segmented based on end-user and region. In terms of end-user, the market can be classified into hospitals, ambulatory surgical centers, and cardiac centers. Based on region, the global stress blood pressure monitors market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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North America is projected to account for the largest share of the global stress blood pressure monitors market in terms of revenue during the forecast period, followed by Europe. These two regions are expected to retain their leadership positions from 2018 to 2026. This is attributed to the large pool of cardiopulmonary patients and presence of high number of hospitals that are increasingly adopting innovative products. Moreover, the presence of leading manufacturers in the region and high awareness about stress testing contribute to the leadership position of the two regions. Factors such as rapid adoption of innovative products and high infrastructure investment to support medical treatment are expected to drive the market in North America and Europe.
Asia Pacific has been identified as the most attractive market for stress blood pressure monitors during the forecast period. China and India are the major countries in the region that offer large opportunities in the stress blood pressure monitors market. Cardiovascular disease is among the top five causes of death in Asia and is characterized by high unmet needs that provide ample opportunities for the players in the region. Furthermore, increase in incidence rate of coronary artery diseases or coronary heart diseases such as acute myocardial infarction and angina pectoris in Asia Pacific is expected to fuel demand for stress testing products. Middle East & Africa and Latin America are expected to be lucrative markets for stress blood pressure monitors in the near future due to high rate of adoption of advanced medical devices and rapidly developing health care industry.
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Major players operating in the global stress blood pressure monitors market include Schiller AG, SunTech Medical, Inc., Welch Allyn, Inc., GE Healthcare, Spacelabs Healthcare, Inc., Koninklijke Philips N.V., and Smiths Medical.
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