Invasive Blood Pressure Monitoring Transducers Market Forecast (2021-2026)

Invasive Blood Pressure Monitoring Transducers Market Overview

Invasive Blood Pressure Monitoring Transducers Market is set to register a CAGR of 4.9% during the forecast period 2021-2026 and registered a market value of $169.1 million in 2020. Invasive blood pressure monitoring transducers are designed to provide an accurate and consistent reading of arterial and venous blood pressure measurement. It is available with an integral Velcro strap that helps in easy mounting. The transducer displays the blood pressure data graphically on screen by connecting it to a pressure monitor. Recently standards for blood pressure transducers have been developed by the Association for the Advancement of Medical Instrumentation (AAMI) and adopted by the American National Standards Institute (ANSI). These standards should greatly simplify transducer selection and will eventually allow the same transducer to be used interchangeably with any monitor. The transducers are used in Intensive Care Units and Operating Rooms as they relay blood pressure information from a pressure monitoring catheter (arterial line, central venous pressure line, or other pressure monitoring products) to the patient's monitoring system. The demand for invasive blood pressure monitoring transducers is increasing owing to the increasing incidences of chronic diseases and rising advancement in technology is the major factor driving the growth of the Invasive Blood Pressure Monitoring Transducers Market. Furthermore, rising investments in research and development activities for developing technologies help in enhancing the overall market demand for Invasive Blood Pressure Monitoring Transducers Market for the period 2021-2026.

Report Coverage

The report: “Invasive Blood Pressure Monitoring Transducers Market Forecast (2021-2026)” covers an in-depth analysis of the following segments of the Invasive Blood Pressure Monitoring Transducers Market.

By Type: Reusable, and Disposable

By Application: Intracranial Pressure (ICP), Intrauterine Pressure (IUP), Abdominal, Bladder, and Others

By End User: Hospitals/Clinics, Diagnostic Facility, Home Care Settings, and Others

By Geography: North America (U.S., Canada, Mexico), Europe (U.K, Germany, Italy, France, Spain, Russia, Rest of Europe), Asia Pacific (China, Australia, Japan, South Korea, India, Rest of Asia Pacific), South America (Brazil, Argentina, Others) and Rest of the World (Middle East, Africa)

Key Takeaways

• In 2020, North America dominated the Invasive Blood Pressure Monitoring Transducers Market. This is owing to advancement of technology in healthcare industry, rising number of healthcare infrastructure and increasing prevalence of hypertension are some factors enhancing the market growth.
• Rising number of chronic disease among patients and growing development in technology helps in improving the growth of the Invasive Blood Pressure Monitoring Transducers Market.
• The prominent manufacturers operating in the Invasive Blood Pressure Monitoring Transducers market will be provided detailed analysis of Strength, Weakness, and Opportunities in the Market report.
• High costs associated with invasive blood pressure monitoring transducers create hurdles for the Invasive Blood Pressure Monitoring Transducers Market.

Invasive Blood Pressure Monitoring Transducers Segment Analysis - By Type

The Invasive Blood Pressure Monitoring Transducers Market based on Type can be further distributed into Reusable, and Disposable. The Disposable segment is the major segment generating revenue in 2020. This is mainly owing to its high availability and low cost, easy to use, and helps in decreasing hospital-acquired infection. Moreover, various manufacturers are offering disposable transducers owing to their safe usage and no side effects that increased the adoption of disposable transducers in the healthcare industry. The Disposable segment is estimated to register the fastest CAGR of 5.3% for the period 2021-2026. Disposable transducers provide more accurate and consistent results which is rising the use of disposable in various hospitals, clinics, home care settings, and many more. Moreover, disposable transducers are available in various types such as single, double, triple that helps the healthcare professional to use the products according to the criteria of patients thereby propelling the growth of Invasive Blood Pressure Monitoring Transducers Market.

Invasive Blood Pressure Monitoring Transducers Segment Analysis - By Application

The Invasive Blood Pressure Monitoring Transducers Market based on Application can be further segmented into Intracranial Pressure (ICP), Intrauterine Pressure (IUP), Abdominal, Bladder, and Others. The Bladder segment registered for the highest Invasive Blood Pressure Monitoring Transducers Market share in 2020. Recently, the bladder urine volume/pressure among children, diabetics, and the elderly population are increasing above normal ranges which is rising need for blood pressure transducers as it helps to measure bladder volume/pressure accurately by maintain the patient’s quality of life. The Abdominal segment is forecasted to register the fastest CAGR of 5.9% over 2021-2026. Recently, the incidence of intra-abdominal hypertension increased at a rate of 15.8% in 2019 that is growing the need for accurate measurement for intra-abdominal pressure. This factor helps in increasing the demand for invasive blood pressure monitoring transducers and therefore propelling the growth of Invasive Blood Pressure Monitoring Transducers Market.

Invasive Blood Pressure Monitoring Transducers Segment Analysis - By Geography

North America dominated the Invasive Blood Pressure Monitoring Transducers Market with major share of 40% in 2020. This is owing to advancement of technology in healthcare industry, increasing the innovation in a variety of medical devices. Moreover, according to Center for Disease Control and Prevention, nearly 47% of people suffered from hypertension in 2020 which is increasing the need for invasive blood pressure monitoring transducers and thus expanding the growth of this region.

However, Asia Pacific is projected to be the growing market during the forecast period 2021-2026 owing to a lack of activity among population that are rising the risk of health problems. In India, about 64% of people meet the minimum healthy levels of physical activity that is rising the incidence of low and high blood pressure which needs the use of invasive blood pressure monitoring transducers in various healthcare industry.

Invasive Blood Pressure Monitoring Transducers Market Drivers

Increasing number of chronic diseases among population is driving the growth of the market

The demand for invasive blood pressure monitoring transducers is increasing owing to the increasing incidences of the chronic diseases as they can facilitate early diagnosis of the patients deteriorating health conditions. According to the World Health Organization in 2020, around 2.50 billion people were suffering from hypertension that is the major cause of premature death. The increasing incidences of hypertension globally have led to an increase in the demand for home monitoring devices. In addition, the benefits associated with automated devices such as repetitive measurements of blood pressure to check the accuracy and banned mercury devices are also escalating the growth of the Invasive Blood Pressure Monitoring Transducers Market during the forecast period 2021 - 2026.

Growing Advancement in Technology is Escalating the Growth of the Market

Technological advancement in the medical industry helps manufacturers to develop a variety of innovative medical devices. For instance, Valencell, biometric technology company has been developing innovative sensor technologies for wearables and hearables to enable impactful health outcomes. Most recently, the researchers have cultivated a calibration-free, cuffless blood pressure monitoring transducers that can be used in a range of devices including smartwatches, fitness bands, patches, and pulse oximeter finger clips among others to provide accurate readings which helps in accelerating the growth of Invasive Blood Pressure Monitoring Transducers Market.

Covid Impact:

COVID-19 pandemic had greatly impacted the growth of Invasive Blood Pressure Monitoring Transducers Market. During pandemic, patients are suffering from various types of diseases that increase the requirement of blood pressure transducer for measuring accurate blood pressure and this has positively impact on the growth of Invasive Blood Pressure Monitoring Transducers Market.

Invasive Blood Pressure Monitoring Transducers Market Challenges

High Cost Associated With Invasive Blood Pressure Monitoring Transducers Market

The usage of invasive blood pressure monitoring transducers are limited in many developing countries owing to the high prices of these devices, thus hindering the growth of the market. The retail prices of the invasive blood pressure monitoring transducers varies from USD 40 to USD 60 according to Cleveland Clinic based on the type of the device. New players are entering the market having low-cost devices but the overall average retail prices seem to be higher for the people in the low income countries. Thus, it is set to hinder the growth of the market during the forecast period 2021-2026.

Invasive Blood Pressure Monitoring Transducers Landscape

Product launches, acquisitions, collaboration, joint ventures, and geographical expansions are key strategies adopted by players in the Invasive Blood Pressure Monitoring Transducers Market. Invasive Blood Pressure Monitoring Transducers top 10 companies include:

• BL Lifesciences
• CODAN
• ITL Biomedical
• Henleys Medical
• BQ+ Medical
• Wellona Pharma
• Shenzhen Antmed Co. Ltd.
• Biometrix
• Smiths Medica
• Fluke Biomedical

Development

• In 2020, BQ+ Medical co. Ltd. expanded its invasive blood pressure transducer products by adding 3-way stopcock. This expansion helps to treat critically ill patients such as shock patients, cardiac surgery, and organ transplantation and are widely used in the clinical practices which increases the demand of 3-way stopcock in invasive blood pressure transducers products.