Pressure Monitoring Market Size, Share, Industry Trends and Forecast to 2030

Pressure Monitoring Market Size & CAGR in 2021:

The global pressure monitoring market is expected to witness a Compound Annual Growth Rate (CAGR) of 5.8% from 2021 to 2026. The market size is projected to reach USD 11.3 billion by 2026, up from USD 8.4 billion in 2021.

COVID-19 Impact on Pressure Monitoring Market:

The COVID-19 pandemic had a mixed impact on the pressure monitoring market. Initially, there was a slowdown in elective procedures and non-emergency medical services, leading to a temporary dip in market growth. However, the increased focus on monitoring critically ill patients in intensive care units (ICUs) boosted the demand for advanced pressure monitoring devices.

Pressure Monitoring Dynamics:

The pressure monitoring market is driven by factors such as the rising prevalence of chronic diseases, technological advancements in pressure monitoring devices, and increasing demand for minimally invasive surgeries. On the other hand, stringent regulatory requirements and the high cost of advanced pressure monitoring systems are some of the key challenges faced by market players.

Segments and Related Analysis:

The pressure monitoring market is segmented based on product type, application, end-user, and region. Product types include invasive and non-invasive pressure monitoring devices, while applications cover cardiovascular, respiratory, and neurological disorders. Hospitals, ambulatory surgical centers, and specialty clinics are the key end-users.

By Region Analysis:

The pressure monitoring market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America currently leads the market due to the presence of advanced healthcare infrastructure and high adoption of innovative medical technologies.

Key Market Players and Competitive Landscape:

Some of the key players in the pressure monitoring market include Medtronic, Philips Healthcare, GE Healthcare, Siemens Healthineers, and Nihon Kohden Corporation. These companies are focusing on product innovation, strategic partnerships, and mergers & acquisitions to maintain a competitive edge.

Recent Happenings in the Pressure Monitoring Market:

In recent developments, Medtronic launched a new wireless pressure monitoring system for real-time remote patient monitoring. Philips Healthcare introduced a compact pressure monitoring device for home use. GE Healthcare collaborated with academic institutions to conduct clinical trials for pressure monitoring technologies.