Global Sphygmomanometer Market - 2023-2030

Global Sphygmomanometer Market - 2023-2030

The global Sphygmomanometer market reached US$ 2.8 billion in 2022 and is estimated to witness lucrative growth by reaching up to US$ 5.2 billion by 2030. The global Sphygmomanometer market is expected to exhibit a CAGR of 8.3% during the forecast period (2023-2030). Increasing adoption of Sphygmomanometers in homecare settings is one of the key trend of the market.

A sphygmomanometer consists of a rubber cup wrapped around the arm, a bulb to innate the cup, a valve to release the pressure, and a measuring instrument to measure the cup's pressure. A digital or electronic sphygmomanometer employs an oscillometric measurement approach. It is simple to operate, battery-powered, automated, and mercury-free.

Digital sphygmomanometers include manual, automatic, wrist, upper arm, neonatal, and paediatric sphygmomanometers. The most often used sphygmomanometers are wrist and automated digital sphygmomanometers.

Market Dynamics

Technological Advancements in Sphygmomanometers

Sphygmomanometers are crucial for assessing blood pressure for diagnosis and management, with reviews focusing on their functionality and advancements in technology. Technological advancements in the consumer healthcare category, such as innovations in wearable technology, apps, and mobiles, as well as reducing average selling prices for retailers and manufacturers, are boosting firm growth.

Microlife WatchBP home A, QardioArm, LifeSource Sophisticated one-step auto inflate blood pressure monitor, and Omron Healthcare's iHealth blood pressure monitor are some of the most technologically sophisticated digital BP monitors on the market. Omron Healthcare is a well-known manufacturer of digital blood pressure monitors, including the Omron Platinum and Evolv Wireless Upper Arm Monitors.

Increasing Adoption of Sphygmomanometers In Homecare Settings

Over the previous few years, telehealth usage has increased. Patients quickly realized that there were additional advantages to telemedicine, despite the fact that the Covid-19 pandemic was the reason for the move from regular clinic visits to virtual ones. Telemedicine can deliver precise and prompt healthcare suggestions that were previously sought by a doctor. With this rising adoption of telehealth, the need for at-home monitoring of health data such as blood pressure has become crucial.

Sphygmomanometers in homecare settings provide convenience, accessibility, and improved health outcomes by allowing patients to test their blood pressure at home. This results in more frequent monitoring, improved hypertension control, early diagnosis and avoidance of anomalies, prompt treatments, and personalised care. Home blood pressure monitoring also decreases clinic visits and avoids problems and hospitalisations, making it cost-effective.

Increasing Competition in the Market

One of the primary factors hindering the growth of the sphygmomanometer market is strong competition among providers, as well as the presence of unauthorised products. The industry has grown extremely competitive as a result of the existence of several new and small firms, as well as well-established vendors. The majority of sphygmomanometers are comparable in form and technology, and they are available from both foreign and local vendors. Multinational firms invest much in marketing, promotion, and brand quality development to maximise their profit margins.

COVID-19 Impact Analysis

COVID-19 will had a numerous impact on the sphygmomanometer industry since people with high blood pressure will be more susceptible to infection owing to the indirect transmission of viral illnesses. Blood pressure monitors are commonly used by healthcare practitioners and contain germs and bacteria that may be transmitted through human skin. As a result, being able to test and monitor one's own blood pressure without risking infection will boost market revenue.

Russia-Ukraine War Impact Analysis

The Russia-Ukraine conflict has increased the healthcare burden for chronic noncommunicable illnesses, which previously accounted for the largest portion. Negative coping techniques, like increased alcohol use and smoking, have exacerbated these health concerns, potentially increasing cardiovascular risks, especially hypertension, and increasing the need for sphygmomanometers in the future.

Segment Analysis

The global sphygmomanometer is segmented based on product, operation, configuration, end user and region.

HomeCare Settings From the End User Segment Accounts for 37.3% of Market Share Owing to Rising Novel Product Launches

The homecare settings from the end user segment with around 37.3% is expected to dominate during the forecast period owing to an increase in the usage of homecare digital sphygmomanometers with sophisticated technology that can communicate patient information wirelessly to clinicians.

For instance, in January 2022, OMRON Healthcare, Inc., a subsidiary of OMRON Corporation, launched Remote Patient Monitoring Services. The service would broaden Digital Health Services to support consumers on each step of their heart health journey. Moreover, this service is created to strengthen the guide behaviour change, patient-physician connection, and reducing risk.

Geographical Analysis

Asia Pacific estimated to hold for Approximately 38.4% of the Market Share

Asia Pacific is estimated to hold about 38.4% of the total market share in the forecasted period, due to the availability of untapped potential, growing hypertension prevalence, and rising awareness levels, is expected to rise substantially over the projected period.

Rapidly improving healthcare facilities, as well as a rise of misdiagnosed patients, are driving regional market expansion. Government efforts to improve public awareness, as well as a rapidly growing target disease population base, are all contributing to the lucrative expansion of this area's BP monitoring devices industry.

For instance, in March 2023, Xiaomi launched the MIJIA electronic blood pressure monitor in China, also known as the MIJIA Electronic Sphygmomanometer. This tie-free device measures blood pressure with just one clamp and stick, eliminating the need for repeated cuff adjustments.

Competitive Landscape

The major global players in the sphygmomanometer include OMRON Corporation, 3B Scientific, Acoma Medical Industry Co, AmbulanceMed, American Diagnostic Corporation, Amico Group of Companies, A D Company Ltd, Bremed Ltd., CIGA Healthcare Ltd, HEINE Optotechnik GmbHCo. KG and among others.

Why Purchase the Report?
• To visualize the global sphygmomanometer market segmentation based on product, operation, configuration, end user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of sphygmomanometer market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global sphygmomanometer report would provide approximately 53 tables, 54 figures and 195 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies