Portland, OR, April 29, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global ABPM device market was estimated at $84 million in 2017 and is anticipated to reach $142 million by 2025, growing at a CAGR of 6.7% from 2018 to 2025. The report offers a detailed analysis of growing market trends, competitive scenario, key segments, drivers & opportunities, and major investment pockets.
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Increase in geriatric population, growth in the prevalence of hypertension, high demand for non-invasive methods, and transformation of medical procedures from physician-centered to patient-centered model have driven the global Ambulatory Blood Pressure Monitoring (ABPM) device market. On the other hand, high cost of ABPM devices and lack of awareness about the tools in the developing countries have restricted the growth to some extent. However, increase in healthcare expenditure in emerging economies has created multiple opportunities in the segment.
By product, the ARM ABPM segment accounted for more than four-fifth of the total market in 2017 and is expected to dominate throughout the forecast period. On the other hand, the wrist ABPM segment is expected to grow at the fastest CAGR of 10.80% till 2025.
Based on end-user, the hospitals segment contributed to more than half of the total market in 2017 and is estimated to keep ruling the roost throughout 2017-2025. Simultaneously, the ASCs segment is anticipated to mount up at the fastest CAGR of 10.80% during the study period.
Based on region, North America held the largest share, accounting for nearly two-fifth of the total market in 2017. Asia-Pacific, on the other hand, would be growing at the fastest CAGR of 8.30% throughout the period.
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Key market players analyzed in the research include Welch Allyn, Inc., SunTech Medical, Schiller AG, Spacelabs Healthcare, BPL Group, Contec Inc. (Parent Company: DAIFUKU CO., LTD.), Inc., GE Company, Rudolf Riester GmbH, Vaso Corporation, and Bosch & Sohn GmbH & Co. KG. They have implemented different strategies such as partnerships, joint ventures, collaborations, mergers & acquisitions, expansions, and others to retain a strong stand in the market.
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