LONDON--(EON: Enhanced Online News)--Technavio’s latest report on the global blood pressure transducers market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
“Major vendors in the market are adopting product bundling strategy and offering a combination of two or more related products or services. This strategy not only ensures product differentiation with better product offerings but also come across as a cost-effective alternative to many end-users”
The research study by Technavio on the global blood pressure (BP) transducers market for 2017-2021 provides detailed industry analysis based on product type (reusable and disposable blood pressure transducers), procedure (intravascular and extravascular), end-user (hospitals, ambulatory surgery centers, and clinics), and geography (the Americas, EMEA, and APAC).
The global blood pressure transducers market size is projected to reach USD 396.96 million by 2021, growing at a CAGR of more than 4% over the forecast period, according to Technavio analysts. APAC will generate the highest incremental growth, with vendors swiftly penetrating the relatively new market space.
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The top three emerging trends driving the global blood pressure transducers market according to Technavio healthcare and life sciences research analysts are:
- Growing demand for disposable blood pressure transducers
- Availability of fiber optic blood transducers
- Growing adoption of product bundling strategy by vendors
Growing demand for disposable blood pressure transducers
“Medical personnel worldwide are increasingly opting for disposable blood pressure transducers as they prevent risks of contamination, hospital-acquired infections, and nosocomial infections. The disposable transducers are especially useful in remote areas and underdeveloped markets,” says Barath Palada, one of the lead analysts at Technavio for medical imaging research.
Disposable BP transducers also have low maintenance costs and do not require sterilization. Also, the materials and components used in disposable products are very affordable. With more vendors focusing on developing more efficient products, the market will see a clear rise in revenue.
Availability of fiber optic blood transducers
The launch of advanced fiber optic blood pressure transducers by major vendors is a very important trend in the market. The highly competitive nature of the market is driving the introduction of products with advanced technologies. With blood pressure transducers swiftly increasing market penetration in APAC, companies are aiming to introduce new products, tailor-made to meet the requirements of this market segment. Additionally, the introduction of bonded strain gauge, electrical, and fiber optic transducers, more of these devices will be purchased, leading to the growth of the market.
Growing adoption of product bundling strategy by vendors
“Major vendors in the market are adopting product bundling strategy and offering a combination of two or more related products or services. This strategy not only ensures product differentiation with better product offerings but also come across as a cost-effective alternative to many end-users,” says Barath.
For instance, vendors offer blood pressure monitoring systems along transducers with cuffs and other accessories that the end-user requires. Also, vendors are launching complete personal testing kits, which include blood pressure monitors, blood pressure transducers, blood glucose monitors, pulse oximeters, and thermometers. This marketing strategy has helped several vendors gain a competitive advantage and also increase the demand for blood pressure transducers.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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