The coronary pressure monitoring plays a vital role in detecting the health issues of the patients as major fluctuation is the coronary pressure can cause various chronic and acute diseases and can also prove to be fatal in some cases. The coronary pressure monitors are the devices used for the examination of the coronary pressure of the patients with hypertension, diabetes, and other cardiovascular diseases. Market Research Future (MRFR) has recently availed a report asserting that the global coronary pressure monitors market is anticipated to flourish at a noteworthy CAGR of 6.65% during the forecast period of 2017-2023.
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Global Coronary Pressure Monitors Market: Drivers and Restraints
The increasing prevalence of cardiovascular diseases due to changing lifestyles and inclination towards non-invasive medical devices are driving the global coronary pressure monitors market. The increasing incidences of diabetes and rapid rise in obesity among the population of developed and developing countries is propelling the demand for coronary pressure monitors in the market, leading to the expansion of the global coronary pressure monitors market.
The large geriatric population is one of the important drivers propelling the growth of the global coronary pressure monitors industry. The increasing investments by the prominent players in the global market for research and development in order to introduce technologically advanced products is fueling the expansion of the global coronary pressure monitors market.
However, the lack of trained professionals, concerns regarding the accuracy of the devices, low shelf life of the products and lack of awareness among the population of the underdeveloped regions are likely to act as major restraints to the expansion of the global coronary pressure monitors market during the forecast period.
Global Coronary Pressure Monitors Market: Segmental Analysis
The global coronary pressure monitors market has been segmented on the basis of devices, technology, and end-users. Based on devices, the coronary pressure monitors market is segmented into sphygmomanometer, BP transducers, automated blood pressure monitor, ambulatory blood pressure monitor, instruments and accessories, and others.
Based on technology, the global coronary pressure monitors market has been segmented into digital, android, wearable and others.
Based on end-users, the coronary pressure monitors market is segmented into hospitals, cardiac care centers, ambulatory centers and home care, academic institutes, and others.
Global Coronary Pressure Monitors Market: Regional Analysis
On the basis of region, the global Coronary Pressure Monitors industry has been segmented into four major regions such as Americas, Europe, Asia Pacific (APAC) and the Middle East and Africa. Among these regions, the global market for coronary pressure monitors is dominated by the Americas owing to the well-developed healthcare infrastructure, easy adoption of advanced technology in the healthcare sector, and the increasing prevalence of diabetes and obesity in this region.
The coronary pressure monitors market in the Europe region is majorly driven by the increasing healthcare expenditure, rise in the number of patients with cardiovascular and other diseases, and availability of funds for research and development in healthcare by the government sector in this region, making it a second largest market for coronary pressure monitors in the global market.
The Asia Pacific region is projecting fastest growth in the global coronary pressure monitors market owing to the rapid development in the healthcare sector, increasing public awareness regarding adverse effects of fluctuations in blood pressure and increased incidences of cardiovascular diseases in this region.
The coronary pressure monitors market in the Middle East and Africa region is projecting slow growth due to the poor economic conditions and lack of primary healthcare services in the Africa region. Whereas, the Middle East accounts for the major market share in the coronary pressure monitors market in the Middle East and Africa region due to the well-developed healthcare sector in the Dubai, Qatar, Saudi Arabia, and Kuwait.
Global Coronary Pressure Monitors Market: Competitive Analysis
The prominent players in the global coronary pressure monitors market are aiming towards the expansion of their business through mergers and acquisitions and are increasing the investments in research and development for new product launch in order to sustain the increasing competition in the global coronary pressure monitors market.
In January 2018, Omron Healthcare, one of the leading players in the global coronary pressure monitors market, has launched its new innovation in the form of a wearable oscillometric wrist blood pressure monitor named ‘Omron HeartGuide’ which is the single at-home device that measures blood pressure.
Some of the key players of the global coronary pressure monitors market are Koninklijke Philips N.V. (Europe), General Electric Company (United States), Medtronic (Europe), Omron Corporation (Asia Pacific), A&D Medical Inc. (Asia Pacific), Drägerwerk AG & Co. KGaA (Europe), Rossmax International Ltd. (Asia Pacific), American Diagnostics Corp. (U.S.), and others.
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