Pressure monitoring devices help to process optimization within industrial settings. By delivering real-time data on pressure variations, these devices empower operators to identify and respond to any fluctuations in the system promptly. This ability to make swift adjustments ensures that industrial processes operate within optimal conditions, promoting enhanced efficiency. The continuous monitoring facilitated by these devices aids in preventing potential issues and minimizing downtime. The energy consumption is reduced, contributing to cost savings and sustainable and eco-friendly industrial practices.
According to Data Bridge Market Research analyses, the Global Pressure Monitoring Devices Market, which was USD 2.50 billion in 2022, is expected to reach USD 4.26 billion by 2030 and undergo a CAGR of 7.20% during the forecast period 2023-2030.
"Rise in elderly population boosts the market growth"
The rise in the elderly population serves as a significant driver for the global pressure monitoring devices market. As the aging demographic increases worldwide, there is a heightened prevalence of conditions such as hypertension and cardiovascular diseases among the elderly. This demographic shift creates a growing demand for accurate and continuous blood pressure monitoring devices to manage and prevent related health issues. Consequently, the healthcare industry is witnessing an upsurge in adopting pressure monitoring devices, driving market growth.
What restraints the growth of the global pressure monitoring devices market?
“High costs associated with the market hinder its growth”
The high cost attributed to technological advancements is a significant restraint in the global pressure monitoring devices market. The continuous evolution of monitoring technologies often leads to increased production costs, making these devices less accessible to a wider market. This pricing barrier poses a challenge for healthcare facilities and consumers seeking affordable solutions for pressure monitoring. The elevated expenses associated with incorporating cutting-edge features and materials into these devices limit their adoption, hindering widespread accessibility and potentially impeding market growth.
Segmentation: Global Pressure Monitoring Devices Market
The global pressure monitoring devices market is segmented on the basis of product, procedure, application, and end-user.
- On the basis of product, the global pressure monitoring devices market is segmented into blood pressure monitors, pulmonary pressure monitors, intraocular pressure monitors, and intracranial pressure monitors
- On the basis of procedure, the global pressure monitoring devices market is segmented into invasive monitoring devices, and non-invasive monitoring devices
- On the basis of application, the global pressure monitoring devices market is segmented into respiratory disorders, glaucoma, cardiac disorders, neurological disorders, dialysis, and others
- On the basis of end-user, the global pressure monitoring devices market is segmented into hospitals, home care settings, ambulatory surgical centers and clinics, diagnostic laboratories, and other
Regional Insights: North America dominates the Global Pressure Monitoring Devices Market
North America dominates the global pressure monitoring devices market, driven by a surge in product approvals for treatment and proactive initiatives by government and pharmaceutical organizations to raise awareness about related diseases. The region's commitment to advancing healthcare infrastructure and fostering awareness campaigns contributes to its projected highest growth rate in the market.
The Asia-Pacific is expected to experience the highest growth in the global pressure monitoring devices market from 2023 to 2030. This surge is attributed to a notable increase in the prevalence of chronic diseases within the region. As healthcare awareness rises and the burden of chronic conditions escalates, the demand for pressure monitoring devices is expected to soar, driving market expansion.
To know more about the study, visit https://www.databridgemarketresearch.com/ar/reports/global-pressure-monitoring-devices-market
The Prominent Key Players Operating in the Global Pressure Monitoring Devices Market Include:
- Withings (France)
- Koninklijke Philips N.V. (Netherlands)
- American Diagnostic Corporation (U.S.)
- General Electric Company (U.S.)
- Welch Allyn (U.S.)
- Omron Corporation (Japan)
- A&D Company, Limited (Japan)
- SunTech Medical, Inc., (U.S.)
- Drägerwerk AG & Co. KGaA (Germany)
- Siemens (Germany)
- Medtronic (Ireland)
- Rossmax International Ltd. (Taiwan)
- GF Health Products, Inc. (U.S.)
- OSI Systems, Inc. (U.S.)
- NIHON KOHDEN CORPORATION (Japan)
- Compumedics Limited (Australia)
- Electrical Geodesics, Inc. (U.S.)
- Smiths Medical (U.S.)
- Raycome (China)
Above are the key players covered in the report, to know about more and exhaustive list of global pressure monitoring devices market companies contact, https://www.databridgemarketresearch.com/ar/contact
Research Methodology: Global Pressure Monitoring Devices Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
