The report forecasts the global blood pressure monitoring testing market to grow at a CAGR of 7.42% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
A trend which is boosting market growth is the focus on preventive treatment. Hospitals and other healthcare centers are required to lower healthcare expenditures without compromising on the quality of treatment and by increasing better patient outcomes. Therefore, early diagnosis and preventive treatment are increasingly being implemented by healthcare providers, particularly for cardiovascular disorders as this is one of the leading causes of death among global population. Also, preventive treatment helps reduce hospital stays and treatment costs.
According to the report, a key growth driver is the consumer preference for home healthcare monitoring. Patients are trying to reduce their hospital cost and long hospital stays, and, are therefore opting for home-based healthcare monitoring. Thus, to measure the blood pressure level, most people prefer digital, portable, and easy-to-use blood pressure monitors that can be used at home. The focus on quality care will lead to an increase in adoption of portable, self-care, ambulatory blood pressure monitoring devices, especially in developed countries.
Further, the report states that one challenge that could curtail market growth is pricing pressure and availability of counterfeit products.