June 16, 2024
Sphygmomanometers

Sphygmomanometer Market is Poised to Grow at a Robust Pace Due to Increased Adoption of Digital Devices

The sphygmomanometer market has witnessed significant growth in recent years owing to the rising prevalence of hypertension and other cardiovascular diseases. A sphygmomanometer, commonly known as a blood pressure monitor, is a device used to measure blood pressure non-invasively. It consists of an inflatable cuff that wraps around the upper arm and a mercury or aneroid manometer to display pressure readings in mmHg. Sphygmomanometers find widespread application in hospitals, clinics, and home settings to detect high or low blood pressure.

The global sphygmomanometer market is estimated to be valued at US$ 3.92 Bn in 2024 and is expected to exhibit a CAGR of 9.1% over the forecast period of 2024 to 2031.

Key Takeaways

Key players operating in the sphygmomanometer market are Omron Healthcare, ICU Medical Inc., Koninklijke Philips N.V., Baxter, Nihon Kohden, AD Medical, Spengler, SunTech Medical, Rudolf Riester GmbH, Microlife Corporation, American Diagnostic Corporation, Panasonic Healthcare, Beurer, Rossmax International Ltd., PAUL HARTMANN, BPL Medical Technologies, Homedics.

The key opportunities in the market include rising healthcare expenditure in developing countries and increased adoption of home-use devices. Furthermore, the development of smart, wireless, and wearable blood pressure monitors is expected to provide lucrative growth opportunities over the forecast period.

Technological advancements such as integration of Bluetooth and Wi-Fi connectivity in digital Sphygmomanometers Market Demand  are allowing remote monitoring capabilities. Moreover, development of oscillometric technology has facilitated automatic blood pressure measurement and eliminated errors associated with auscultatory methods.

Market Drivers

The primary drivers boosting the sphygmomanometer market include the increasing geriatric population susceptible to hypertension, favourable government initiatives to curb cardiovascular mortality, and growing awareness about regular blood pressure screening. Furthermore, the COVID-19 pandemic has underscored the need for self-monitoring and prevention of COVID-associated hypertension, thus driving sales of home-use devices.

Current challenges in Sphygmomanometer Market

The Sphygmomanometer market is facing challenges due to increasing preference for home healthcare devices and availability of substitutes in the market. Monitoring of blood pressure at home is becoming increasingly popular as it allows for frequent monitoring without visiting a clinic. This has impacted the sales of sphygmomanometers in hospitals and clinics. Further, wearable blood pressure monitors are emerging as an attractive substitute as they can continuously track blood pressure without the need for a separate device. Their compact size and connectivity features make them a preferable option for patients. Maintaining accuracy of readings is another challenge for sphygmomanometer manufacturers due to variability in cuff positions, device errors and individual physiology. Standardization and stringent validation of devices is required to address this issue.

SWOT Analysis
Strength: Accurate and reliable technology for blood pressure monitoring; Established brands with proven reliability and safety.
Weakness: Bulkier size compared to substitutes; Requires skill to obtain accurate readings; Periodic replacement of parts leading to maintenance costs.
Opportunity: Growth in home healthcare segment; Expanding older population prone to hypertension; Integration with connectivity and data analytics.
Threats: Competition from wearable blood pressure monitors; Preference shifting towards self-measurement; Stringent regulatory norms affecting product development cycles.

Geographical Regions
North America accounts for the major share in the global sphygmomanometer market in terms of value. This is attributed to the presence of established healthcare infrastructure and higher diagnosis rates for hypertension. Asia Pacific is expected to witness the fastest growth during the forecast period. Rising healthcare expenditure, growing elderly population vulnerable to cardiovascular diseases, and increasing awareness about regular health monitoring are driving the market in the region. Countries such as China, India and Japan are projected to present lucrative opportunities.

The Europe region currently dominates the market, followed by North America and Asia Pacific. The high market share of Europe is attributed to the enhanced healthcare infrastructure and increasing preference for home healthcare devices in countries like Germany, UK and France. Further, presence of leading industry players and support from government and private organizations fosters market growth.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it