PUBLISHER: The Business Research Company | PRODUCT CODE: 1414600
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414600
“Sphygmomanometer Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on sphygmomanometer market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for sphygmomanometer? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The sphygmomanometer market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
A sphygmomanometer is a device designed for measuring blood pressure, specifically the pressure in arteries. It comprises an inflatable cuff, which is used to restrict blood flow, and a gauge to measure the pressure.
The primary types of sphygmomanometers include electronic sphygmomanometers, aneroid sphygmomanometers, and mercury sphygmomanometers. An electronic sphygmomanometer is a medical device utilized for measuring blood pressure. It finds applications in clinical settings and is also suitable for self-monitoring of blood pressure at home. These electronic sphygmomanometers come in various configurations, including portable, desk-mounted, floor-standing, and wall-mounted options. They operate using electricity and may be manual, automatic, or semi-automatic. These devices are commonly employed in diverse healthcare settings such as hospitals, ambulatory surgical centers, clinics, home healthcare, and other end-user environments.
The sphygmomanometer market research report is one of a series of new reports from The Business Research Company that provides sphygmomanometer market statistics, including sphygmomanometer industry global market size, regional shares, competitors with a sphygmomanometer market share, detailed sphygmomanometer market segments, market trends and opportunities, and any further data you may need to thrive in the sphygmomanometer industry. This sphygmomanometer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The sphygmomanometer market size has grown strongly in recent years. It will grow from $2.8 billion in 2023 to $3.06 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth observed in the historical period can be attributed to several factors, including the expansion of the construction industry, increased demand from the agricultural sector, the versatility and reach of the equipment, involvement in infrastructure projects, efficiency in material handling, and rising demand from the rental market.
The sphygmomanometer market size is expected to see strong growth in the next few years. It will grow to $4.38 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%.The anticipated growth in the forecast period can be attributed to various factors, including the development of renewable energy projects, the trend of urbanization and vertical construction, the adoption of precision agriculture practices, a heightened focus on environmental sustainability, compliance with safety regulations, and the expected global economic recovery. Major trends expected in the forecast period include a focus on product innovation, the adoption of compact and maneuverable designs, the rise of electric and hybrid models, the integration of telematics and the Internet of Things (IoT), and the use of high-strength materials. These trends reflect the industry's commitment to advancing technology, sustainability, and safety in response to evolving market demands.
The anticipated growth in the sphygmomanometer market is driven by the increasing prevalence of chronic illnesses such as diabetes, hypertension, and ischemic heart disease. Chronic illnesses, characterized by their long-lasting nature, necessitate ongoing management and medical care. Sphygmomanometers play a crucial role in the management of these conditions, aiding in diagnosis, monitoring cardiovascular health, and identifying secondary causes of hypertension. For example, data from the Journal of the American College of Cardiology (JACC) in December 2022 revealed that ischemic heart disease alone accounted for 9.44 million cardiovascular deaths in 2021, with hypertensive heart disease and pulmonary arterial hypertension contributing to 1.41 million and 23,300 deaths, respectively. The rising prevalence of chronic illnesses underscores the importance of sphygmomanometers in healthcare, driving market growth.
The increasing number of ambulatory surgery centers is expected to contribute significantly to the growth of the sphygmomanometer market. Ambulatory Surgery Centers (ASCs), dedicated to performing surgical procedures without overnight hospital stays, heavily rely on sphygmomanometers (blood pressure cuffs) to monitor patients' vital signs throughout the surgical process. Recent data from VMG Health in September 2023 indicates a 2.9% increase in the total number of Medicare-certified ambulatory surgery centers, from 1752 in 2021 to 1804 in 2022. This growth in ambulatory surgery centers reflects an expanding healthcare landscape, driving the demand for sphygmomanometers in these facilities.
Technological advancements in wireless and mobile sphygmomanometers are emerging as a key trend in the sphygmomanometer market. Major players in the market are actively focusing on technological innovation to introduce advanced products and maintain a competitive position. For example, in February 2021, Pylo Health, a US-based medical device manufacturer, launched the Pylo 802-LTE, a cellular blood pressure monitor. This innovative device enables patients to monitor their blood pressure from home and share real-time data with healthcare professionals. The Pylo 802-LTE utilizes encrypted 4G wireless technology to transmit accurate measurements to the Pylo API, facilitating automatic real-time data transmission to the patient's doctor, caregiver, or healthcare organization. This advancement enhances patient outcomes and reduces the need for in-person visits.
Major companies in the sphygmomanometer market are actively engaged in developing innovative monitors, particularly at-home automatic blood pressure monitors, to gain a competitive edge. These devices allow individuals to measure blood pressure conveniently from the comfort of their homes. In February 2022, Inbody, a South Korea-based provider of health and wellness technology, introduced the InBody BP 170 at-home device. This clinically validated automatic blood pressure monitor enables users to measure systolic and diastolic blood pressure as well as pulse rate. The device utilizes an oscillometric technique to precisely monitor daily variations in pulse rate and blood pressure. The BP 170 can be connected to the InBody app via Bluetooth, enabling users to track blood pressure readings over time.
In September 2021, SunTech Medical Inc., a US-based subsidiary of Halma plc. specializing in ambulatory blood pressure monitoring (ABPM) products, acquired Meditech Kft. The acquisition aimed to extend SunTech's product portfolio by incorporating Meditech's blood pressure (BP) business unit, providing enhanced blood pressure monitoring solutions globally. Meditech Kft., based in Hungary, is a medical device manufacturer specializing in blood pressure monitoring solutions. This strategic move reinforces the commitment of major players to offering advanced and comprehensive solutions in the sphygmomanometer market.
Major companies operating in the sphygmomanometer market report are A&D Company Ltd., American Diagnostic Corporation, Omron Healthcare Inc., Microlife Corporation, Acoma Medical Industry Co. Ltd., Beurer GmbH, General Electric Company, Amico Group of Companies, CIGA Healthcare Ltd., HEINE Optotechnik GmbH and Co. KG, Rossmax International Ltd., Rudolf Riester GmbH, Welch Allyn Inc., Koninklijke Philips N.V., Paul Hartmann AG, 3B Scientific, Hill-Rom Services Inc., Sklar Surgical Instruments, Spengler, Abbott Laboratories, AmbulanceMed, Harvard Health Publishing, Holtex Ltd., Timesco Healthcare Ltd., Bremed Ltd., iHealth Labs Inc., Baxter International Inc., Contec Medical Systems Co. Ltd., Halma plc, SunTech Medical Inc.
North America was the largest region in the sphygmomanometer market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global sphygmomanometer market during the forecast period. The regions covered in the sphygmomanometer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the sphygmomanometer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The sphygmomanometer market consists of the sale of digital sphygmomanometers, portable sphygmomanometers, and hybrid sphygmomanometers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.