A new market study, titled “Blood Pressure Monitoring Devices Market in ASEAN Analysis, Forecast to 2025”, has been featured on Allied Market Research
The ASEAN Blood Pressure Monitoring Devices Market was valued at $31.5 million in 2017 and is projected to reach $53.3 million by 2025, growing at a CAGR of 6.8% from 2018 to 2025. Based on product, the digital BP monitors accounted for half of the total market share in 2017.
Malaysia made the largest contribution to the ASEAN market in 2017 as major manufacturers such as Omron Corporation, GE Healthcare and others, as well as government initiatives to raise awareness of high blood pressure in the country, invested more in health care. In Indonesia, due to the increasing prevalence of cardiovascular disease, hypertension and obesity, the highest growth rate is expected over the entire forecast period.
The surge in demand for self-monitoring BP devices as well as rise in the incidence of hypertension across the ASEAN countries supplements the market growth.
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Blood pressure monitoring devices are used to monitor a patients blood pressure prior to or during patient care. BP monitoring devices automatically obtain and record the blood pressure at certain intervals, using the direct or indirect method of determining pressure. The advent of digital monitoring devices has enabled the patients to monitor their blood pressure precisely even at home, or at the site of medical emergency. In addition, factors such as increase in geriatric population, rise in inclination toward home monitoring, and surge in prevalence of chronic diseases that include cardiovascular disorders and obesity, are expected to drive the market.
Based on product, the digital BP monitors segment generated the highest revenue in 2017 and is expected to maintain this dominance throughout the forecast period. This is attributed to the fact that these devices are compact, convenient, easy to use, eliminate chances of human error and provide accurate results.
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Based on country, the ASEAN blood pressure monitoring devices market is analyzed across Malaysia, Indonesia, Thailand, Vietnam, Philippines, and rest of ASEAN countries. Malaysia dominated the market in 2017, accounting for the highest share, and is anticipated to maintain this trend throughout the forecast period, owing to the significant increase in healthcare expenditure and high adoption of advanced medical technology. However, Indonesia is projected to register the highest growth rate from 2018 to 2025 owing to surge in prevalence of hypertension in this region
Leading industry players:
A&D Company, limited, Contec Medical Systems Co. ltd., GE Healthcare, Hill Rom Holdings, Inc., Koninklijke Philips N.V., Masimo Corporation, Nihon Kohden Corporation, Omron Corporation, Smiths Group Plc., and Halma PLC.
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