The Global Sphygmomanometer Market To Reach By Growing Healthcare Expenditure

Sphygmomanometer Market 

Sphygmomanometers, popularly known as blood pressure monitors, are medical devices used to measure blood pressure non-invasively. They work on the basis of occlusion and compression of arteries by an inflatable cuff to measure blood pressure. Growing healthcare expenditure, increasing awareness about hypertension monitoring, rise in lifestyle diseases are some key factors driving the demand for affordable and accurate blood pressure monitoring devices globally.

The Global Sphygmomanometer Market is estimated to be valued at US$ 3.92 Billion in 2024 and is expected to exhibit a CAGR of 9.1% over the forecast period 2024 to 2031. 

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.

Key Takeaways:

Key players: Omron Healthcare is a leading player in sphygmomanometer market with strong distribution network globally. It offers range of affordable and accurate blood pressure monitoring devices for hospitals as well as homecare segment. The market is witnessing rising prominence of private label brands from players such as Microlife and Panasonic Healthcare.

Growing demand: Sphygmomanometer Market Size Growing prevalence of hypertension and cardiovascular diseases has increased the adoption of sphygmomanometers globally. However, demand is higher from developed markets where awareness about hypertension self-monitoring is well established. Homecare blood pressure monitors segment is growing at fastest pace.

Technological advancement: Recent technological advancements are focused on integrating smartphone connectivity and wireless data transmission capabilities in sphygmomanometers for telehealth and remote patient monitoring. Portable, wearable and automated cuffless blood pressure monitors are new genres emerging with improved accuracy.

Market Trends:

- Increased preference for wireless, portable and wearable blood pressure monitors for self-monitoring at home as well as remote patient monitoring.

- Growing popularity of automatic inflating cuff technology reducing human error in measurement.

- Integration of blood pressure monitoring devices with EHR and telemedicine platforms for centralized monitoring of patients.

Market Opportunities:

- Untapped opportunities exist in developing Asian and African markets with increasing healthcare spending.

- Growing geriatric population prone to hypertension presents an opportunity for targeted product development.

- Development of affordable, smartphone-compatible devices for self-monitoring presents a significant opportunity.

Impact of COVID-19 on Sphygmomanometer Market Growth

The COVID-19 pandemic has significantly impacted the growth of the sphygmomanometer market. During the outbreak, demand for blood pressure monitoring devices surged globally as monitoring blood pressure was critical for detecting COVID-19 symptoms and managing patients. However, supply chain disruptions caused by lockdowns and trade restrictions adversely affected the production and distribution of sphygmomanometers. This led to shortages of devices in the initial months of the pandemic.

As the pandemic progressed, governments and healthcare organizations prioritized increasing domestic production of sphygmomanometers to meet the growing demand. Major players also focused on ramping up manufacturing while ensuring safety protocols. Remote patient monitoring also gained prominence during this time due to social distancing norms. This boosted demand for portable, Bluetooth-enabled home-use sphygmomanometers allowing self-monitoring and transmission of readings to doctors online. Telehealth emerged as an important avenue for blood pressure checks.

Going forward, demand for personal use devices is expected to remain high even post-pandemic. This is attributed to increased health awareness among the masses and growing preference for self-monitoring. However, returns or replacements may decline due to budget constraints caused by the economic crisis triggered by the pandemic. The market will continue prioritizing affordability and precision to expand access in the emerging regions severely impacted by COVID-19.

Europe currently generates the highest revenue in the sphygmomanometer market due to sophisticated healthcare infrastructure and growing incidence of hypertension. However, Asia Pacific is slated to be the fastest-growing regional market in the coming years. The massive patient pool, rising healthcare expenditure, and rapid infrastructure development in countries like China and India offer immense opportunities. Moreover, increasing awareness regarding benefits of regular monitoring and availability of low-cost devices are propelling adoption.

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About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)