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Sphygmomanometer is a device manufactured and designed to monitor the blood pressure by measuring the force of the blood in the heart. It is crucial to monitor blood pressure by using sphygmomanometer for the patients with heart diseases. Various parameters such as pulse rate and heartbeat rate can be monitored in addition to BP from a single device. Sphygmomanometers are inexpensive, durable, lightweight, and portable. Growing prevalence of chronic diseases such as hypertension and ischemic heart disease are boosting the growth of the market.
Increase in the prevalence of chronic diseases such as diabetes, hypertension, and ischemic heart diseases are the major factors driving the growth of the market. According to the World Health Organization (WHO), in 2019, estimated 1.13 billion people worldwide had hypertension and cardiovascular disease (CVDs) is the number 1 cause of death globally, taking an estimated 17.9 million lives each year. Long-term blood pressure managing and observing is necessary for the patients that are at risk of any cardiovascular disorders this factor is anticipated to propel the growth of the market in the forecast period. Moreover, technological advancements in manufacturing of mobile and wireless sphygmomanometers are likely to provide thrust to the market growth in the forecast period. The overall market growth can be attributed to the rising awareness about healthcare, increasing geriatric population, and technological advancements. Moreover, rising initiatives by public and private organizations to improve healthcare across the globe is also fuelling the growth of this market.
Key Market Driver -
Growing prevalence of chronic diseases such as hypertension and ischemic heart diseases
Key Market Restraint -
Accuracy concerns and stringent regulatory requirements for product approval
However, concerns regarding accuracy of sphygmomanometer and stringent regulatory requirements for the approval of medical devices are also impeding the growth of the market.
Globally, the sphygmomanometer market can be segmented on the basis of products, operation, configuration, end-users, and region. Based on the product, the market can be segmented into mercury sphygmomanometer, aneroid sphygmomanometer, and digital sphygmomanometer. Based on the operation, the market can be segmented into automatic and semi-automatic. Based on the configuration, the market can be segmented into portable, desk mounted, floor standing, and wall mounted. Based on the end-users the market can be segmented into hospitals, clinics, ambulatory surgery centres, and others.
Geographically, the sphygmomanometer market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Some of the major companies that are present in the sphygmomanometer market are HEINE Optotechnik GmbH & Co. KG, AmbulanceMed, ACOMA Medical Industry Co., Ltd, American Diagnostic Corporation, Amico Group of Companies, Omron Healthcare, Inc., Ciga Healthcare, Holtex, Microlife Corporation, Timesco Healthcare Ltd, Bremed Ltd, iHealth Labs Inc., and other prominent players.
Geographically, the sphygmomanometer market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North American region is likely to hold the largest share of the market and is anticipated to follow the same impetus over the forecast period. This growth of the market can be attributed to the presence of refined healthcare infrastructure along with growing awareness regarding physical and health related issues. Moreover, increase in the prevalence of the chronic diseases and availability & high adoption of technologically advanced products are also driving the market in this region. Europe is projected to be the second most productive market throughout the forecast period.
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The factors such as adoption of innovative medical devices, increases in the prevalence of chronic diseases, and rise in geriatric population in this region are likely to boost the growth of the sphygmomanometer market in this region. However, Asia-Pacific is likely to expand at high growth rate in near future. The growth of the market can be attributed to the increase in the elderly population, presence of large patient pool suffering from hypertension, and increase in the prevalence of ischemic heart diseases. The market in Latin America and the Middle East and Africa are expected to grow moderately in the forecast period.
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