According to a new report published by Allied Market Research, titled,"ASEAN Blood Pressure Monitoring Devices Market by Product and Country: Opportunity Analysis and Industry Forecast, 2018 - 2025," 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.
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.
Key Findings of the ASEAN Blood Pressure Monitoring Devices Market:
- Based on product, the digital BP monitors segment dominated the ASEAN blood pressure monitoring devices market in 2017 and is expected to maintain this trend during the forecast period.
- The ambulatory BP monitors segment is expected to register the highest CAGR of 6.9% (in terms of volume) from 2018 to 2025.
- Malaysia generated the highest revenue in the ASEAN blood pressure monitoring devices market in 2017, accounting for one-fourth of the market share.
- Indonesia is anticipated to experience rapid growth during the forecast period.
Malaysia was the leading revenue contributor to the ASEAN market in 2017, owing to increase in healthcare investments by leading manufacturers including Omron Corporation, GE Healthcare & others, and government initiatives toward spreading awareness in the country regarding hypertension. Indonesia is expected to witness the highest growth rate throughout the forecast period, due to increase in prevalence of cardiovascular diseases, hypertension, and obesity.
The report provides an extensive competitive analysis and profiles of the key market players, such as 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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