Growth Drivers
Concerns Associated with the Increasing Prevalence of Blood Pressure
Growing Geriatric Population
Rising Awareness about Health Issues
Challenges
Lack of Skilled Experts
Issues Associated with Inaccurate Measurements of Blood Pressure Transducers
Geographically, the blood pressure transducers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing incidents of hypertension, rising health awareness and growing investments by manufacturers. Moreover, rising emphasis to improve healthcare sector by governments of developing nations is also expected to drive growth to the market. For instance, according to secondary sources, Indian government aims to increase healthcare expenditure to almost 3% of the total GDP share by 2022.
As of 2021, the market in North America is estimated to generate the highest revenue. The growth of the market in the region can be attributed to the well-established and developed healthcare facilities in nations such as the United States. Ongoing technological advancements to develop more effective medical devices also play a crucial role in the progress of the market in this region.
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The global blood pressure transducers market is further classified on the basis of region as follows:
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
6.6% |
Base Year Market Size (2024) |
USD 2.29 billion |
Forecast Year Market Size (2037) |
USD 5.26 billion |
Regional Scope |
|
Author Credits: Radhika Pawar
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