Medical Pressure Transducers Market Forecast, Trend Analysis And Competition Tracking - Global Market insights 2015 to 2031

Medical Pressure Transducers Market Introduction

A pressure transducer or sensor is a medical device that measures and converts an applied pressure of blood or others into an electrical signal. Usually, the pressure transducer consists of two parts, one is an elastic material that deforms under pressure, and the other is an electrical part that detects such deformation. There are various types of pressure transducers based on their design, shape, size, or technology. The various pressure transducers based on its technology are strain gauge pressure transducers, capacitance pressure transducers, potentiometric pressure transducers, resonant wire pressure transducers, etc.

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Medical Pressure Transducers Devices Value Chain

Source: FDA, 2021

Global Medical Pressure Transducers Market Revenue Outlook:

The global medical pressure transducers market was valued at US$ 313.5 Mn in 2021 and is projected to register а САGR of 6.0 % by 2031.

The global medical pressure transducers market is segmented by product type, application, end-user, and region. The single disposable transducers segment accounts for the highest revenue share among type segments and is projected to register the fastest growth rate shortly. This is due to the rising prevalence of high blood pressure and the increasing geriatric population. Based on the application, the blood pressure monitoring segment holds a significant share in revenue due to increasing awareness among patients about the benefits of these transducers. Based on end-user, the hospitals' segment accounts for a major revenue share in the target market. Based on the region, the North American market is estimated to account for the highest revenue share. It is projected to dominate the medical pressure transducers market soon, followed by Europe. This is attributable to increasing aging individuals, rapid urbanization, increasing disposable income, and changing lifestyle patterns.

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PDF report and online dashboard will help you understand:

• Competitive benchmarking
• Market forecasts
• Company market shares
• Market opportunities
• Latest trends & dynamics

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Increasing Incidence of Cardiovascular Diseases to Fuel the Market Growth

The increasing prevalence of hypertension globally is a key factor driving the growth of the global medical pressure transducers market.

• According to the Center for Diseases Control and Prevention in 2018, about 1 in 3 US adults —or about 75 Mn people—had high blood pressure.
• In January 2018, it was estimated by the American Heart Association that nearly 103 Mn US adults suffered from high blood pressure

Also, the increasing number of cases for drug-resistant hypertension and higher occurrence rate and mortality rate of CVS diseases are among the other factors expected to drive revenue growth of the target market to a significant extent. Rapid urbanization, coupled with high spending capacity, are some of the other factors supporting the revenue growth of the target market.

Cardiovascular Diseases Death Rate

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Growing Number of Elderly Population Increasing the Demand

The increasing geriatric population across the globe has driven the development of advanced devices in order to treat blood pressure, heart failure, diabetes, and others. This is another factor proliferating the growth of the target market over the forecast period.

• As per World Population Prospects 2019 report published by the UN, the number of people aged around 80 years old or above is projected to triple from 137 Million in 2017 to 425 Million by 2050. By the year 2100, this number is expected to increase to 909 Million, around seven times that of 2017.
• According to the UN, approximately 962 Mn people were 60 years old and above globally in 2017, comprising 13% of the global population. This number is projected to reach 1.4 Bn by 2030 and 2.1 Bn by 2050.

Number and Distribution of Population Aged 60 Years or Above by Region, 2017 & 2050

Stringent Regulations for Invasive Devices Hamper Market Growth

Strict regulations and rules for invasive devices concerning body orifices are expected to hamper the growth of the target market.

• In April 2018, the US FDA (Food and Drug Administration) revised regulations under Sec. 876.5130 for Urological catheter and accessories
• In April 2017, the European Parliament and of the Council issued Regulation (EU) 2017/745 on medical devices, amending Directive 2001/83/EC, Regulation (EC) No 178/2002 and Regulation (EC) No 1223/2009 and repealing Council Directives 90/385/EEC and 93/42/EEC. On 25 May 2017, this regulation entered into force.

Increasing Clinical Trials Creating a New Opportunity

Clinical trials' operational costs are comparatively lower in BRIC countries (Brazil, Russia, India, and China). The regulatory and ethics filings process is faster, which can help reduce the overall time and expenses to a certain extent. Outsourcing of administrative parts of the research to developing countries is expected to create opportunities in terms of high revenue profits and quick filings for key players operating in the target market

• In July 2017, ClinicalTrials.gov published data, according to which the countries of BRIC can perform clinical trials at charges around half of the costs in the US. In recent years, these countries have marked an increased number of trials. Additionally, 36% of clinical trials were conducted in the US, and 47% were done in non-US countries in the same year.

Increasing investments and initiatives by leading organizations and various governments to improve human resource development, health care infrastructure, and regulations in the public health domain. Furthermore, the approach to track the untapped market by prominent manufacturers is another factor offering lucrative opportunities for market growth.

Global Medical Pressure Transducers Market Analyst Point by Region, 2014-2020

North America in the global medical pressure transducers market is expected to register a Y-o-Y growth rate of more than 5.6% during the forecast period 

In 2019, the market in Europe was estimated to be valued at US$ 74.5 Mn and register a market share of 26.6%. The market is expected to reach a value of US$ 138.6 Mn and register a CAGR of 6.5% between 2020 and 2029

The Medical Pressure Transducers market in APAC is estimated to account for a revenue share of 20.3% in 2019 and is expected to register a CAGR of 7.1% during the forecast period

Medical Pressure Transducers Market: Competitive Landscape

The medical pressure transducers market landscape appears highly consolidated, with a major chunk dominated by the players.

• Edwards Lifesciences
• ICU Medical
• Blue Sail Medical Co., Ltd.
• Utah Medical
• Braun Melsungen Aktiengesellschaft
• Merit Medical Systems
• Smiths Group Plc
• Lepu Medical Technology
• Argon Medical Devices, Inc.
• Other Players

Report Scope

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020

The Market for Medical Pressure Transducers is segmented based on Product Type, Application, End-User, and Region

Based on Product Type

• Single Disposable Transducers
• Single Pressure Line Transducers Kits
• Double Pressure Line Transducers Kits
• Triple Pressure Line Transducers Kits

Based on Application

• Blood Pressure Monitoring
• Respiration Systems
• Infusion / Syringe Pump

Based on End-User

• Hospitals
• Ambulatory Surgical Centers & Clinics
• Home Care Settings

Key Regions Covered

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa