Newark, NJ, Sept. 17, 2020 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global sphygmomanometer market is expected to grow from USD 1.7 billion in 2019 and to reach USD 3.7 billion by 2027, growing at a CAGR of 10.2% during the forecast period 2020-2027.
The sphygmomanometer market is witnessing significant growth from the past years. This growth is attributed to the growing geriatric population pool, rising incidence of cardiovascular disorders including hypertension, technological advancements in sphygmomanometers, and an increase in average patient visits in healthcare settings. Availability of inexpensive sphygmomanometers, growing demand from end-users, and rising use of enhanced technology allow this device to connect with smartphones, propelling the market growth. Technological innovations in technology offer convenient and precise reading and will influence the market.
An instrument that is used for the measurement of blood pressure is known as a sphygmomanometer. A gauge with a mercury column and a dial face comprising inflatable cuff and measuring unit are the two major sphygmomanometers used. The sphygmomanometer consists of an inflatable rubber cuff that is applied to the arm and connected to a column of mercury next to the graduated scale, enabling the determination of systolic and diastolic blood pressure by increasing and slowly releasing the pressure in the cuff. Diastolic refers to the period when the heart refills with blood. Systolic pressure means the period when the heart pumps blood out into the aorta. A sphygmomanometer is used with a means to determine at what pressure blood flow is starting and at what pressure it is unimpeded.
Global sphygmomanometer market is expected to witness significant growth, owing to the evolution of advanced sphygmomanometer, growing innovations in sphygmomanometer devices, and increasing the use of sphygmomanometer for self-monitoring to reduce the risk of infection. A decrease in the adoption of a mercury thermometer and an increase in the usage of blood pressure monitors by healthcare professionals that carry several pathogens and bacteria will hamper the market growth. The factor providing market growth opportunity is the development of a cloud-based healthcare system.
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Key players operating in global sphygmomanometer include GE Healthcare, iHealth Labs, Heine, Bosch + Sohn, ERKA, Spacelab Healthcare, Philips Healthcare, Suzuken, OMRON Healthcare, GF Health Products, EmsiG, Microlife AG, and CA-MI. To gain a significant market share in the global sphygmomanometer market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. GE Healthcare and OMRON Healthcare are some of the leading manufacturers of the sphygmomanometer.
- For instance, in January 2020, Spengler was merged with Holtex to form leading medical devices firm. This merger is expected to expand distribution and sales network and drives the business revenue of the firm.
- In January 2019, HeartGuid, a wearable pressure monitor, is launched by OMRON Healthcare to expand and develop an existing portfolio by offering growth opportunities to the firm through innovation.
Digital Sphygmomanometer segment dominated the market and held the largest share of 36.4% in the year 2019
On the basis of product, the global sphygmomanometer market includes mercury sphygmomanometer, digital sphygmomanometer, and aneroid sphygmomanometer. The digital sphygmomanometer is further segmented into wrist electronic sphygmomanometer, and arm electronic sphygmomanometer. Digital Sphygmomanometer segment dominated the market and held the largest share of 36.4% in the year 2019. This growth is attributed to the rising awareness among people regarding their health, and easy usage of devices, accuracy, mercury free, and have automated functioning.
Manual segment dominated the market and held the largest market share of 31.26% in the year 2019
On the basis of operations, the global sphygmomanometer market includes electric, manual, automatic, and semi-automatic. Manual segment dominated the market and held the largest market share of 31.26% in the year 2019. This growth is attributed to its accurate readings compared to other devices, and also helps confirm the diagnosis of hypertension among patients.
Portable segment dominated the market and held the largest market share of 28.17% in the year 2019
On the basis of configuration, the global sphygmomanometer market includes portable, desk mounted, floor standing, and wall mounting. Portable segment dominated the market and held the largest market share of 28.17% in the year 2019. This growth is attributed to the need for convenient blood pressure monitor tools and an increase in the geriatric population.
Hospitals segment dominated the market and held the largest share of 31.2% in the year 2019
On the basis of end-user, the global sphygmomanometer market includes ambulatory surgical centers, hospitals, clinics, and others. Hospitals segment dominated the market and held the largest share of 31.2% in the year 2019. This growth is attributed to increasing adoption of basic diagnostic equipment, and increasing number of physicians.
Regional Segment of Sphygmomanometer Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global sphygmomanometer market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America region held a major share of 33.17% in the year 2019. This growth is attributed to the high demand for technologically enhanced products. Canada and the U.S. are the major consumers of a sphygmomanometer in the region. The market in the Asia-Pacific market is expected to witness significant growth in India, China, and Japan. In Japan, the sphygmomanometer market is expected to witness significant growth, owing to a growing old age population with chronic disorders, a rise in awareness among people regarding health, and an increase in the number of people suffering from hypertension.
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About the report:
The global sphygmomanometer market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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