Sphygmomanometer Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.
Growing burden of cardiovascular diseases (CVD) in healthcare facilities will impact sphygmomanometer market outlook through 2026. World Health Organization (WHO) disclosed that CVD is among the most dominating mortality factors and registers almost 18 million deaths annually. Constant prevalence of hypertension and changing lifestyles in addition to smoking and unhealthy dietary habits worldwide will urge the adoption of sphygmomanometers.
Hypertension or high blood pressure can be termed as a serious medical state that considerably elevates the risk of diseases. Nearly one billion people across the globe suffer from hypertension with over two-third of this population residing in developing economies. The recurrence of the diseases, as well as hike in the geriatric population will significantly impact product deployment in the coming years.
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Estimates state that global sphygmomanometer market size will reach over USD 2.9 billion with regards to annual remunerations by 2026. Sphygmomanometer products can be bifurcated into mercury, aneroid, and digital sphygmomanometers. On comparison, aneroid sphygmomanometers are affordable as well as easy to use and are highly preferred among medical students.
Revenues from aneroid sphygmomanometer segment was estimated at USD 618 million in 2019 and are likely to stir owing to rapid access to quick and easy blood pressure readings. Based on mode of operation, the device can be segmented as manual, electric, automatic, and semi-automatic components.
Simplicity of machine use and technical advancements will augment demand for effective measurement tools. Manual sphygmomanometers contributed to an annual valuation of USD 656 million in 2019. The segment may also witness a substantial rise over the next few years with the increasing adoption across healthcare professionals for accurate blood pressure computations.
Portable, desk mounted, floor standing, and wall-mounted are some of the configurations associated with sphygmomanometer devices. The portable segment recorded the highest market share in 2019 and will exhibit substantial consumption across healthcare professionals owing to their small, lightweight, and user-friendly benefits.
The product is widely deployed across hospitals, ambulatory surgical centers, clinics, and other applications. Sphygmomanometer industry share from fueling requirements across hospitals gathered the largest revenues in 2019. The growth can be attributed towards the burgeoning number of patients inspecting high blood pressure, chest pain, heart attacks, respiratory problems through hospital visits.
Globally, Germany led the Europe sphygmomanometers industry share in 2019, accumulating more than 16% yearly revenues and is likely to expand over 2026 due to an extending geriatric population. There is also a rise in installation investments for effective and accurate blood pressure monitors in this geography. Standardization initiatives by the European Union for the accuracy and safety of sphygmomanometers will lead to higher demand and deployment of monitoring devices among regional masses through and post the coronavirus pandemic.
Device manufacturers across the globe are consistently working towards partnerships, mergers, and acquisitions along with technological innovations to provide monitoring capability solutions in healthcare. For instance, Spengler collaborated with Holtex in early 2020 to expand its medical equipment sales and supply.
The competitors are also keen on novel product developments for strengthening their market position. OMRON Healthcare introduced HeartGuide, wearable sphygmomanometers in January 2019. During the same year, the firm also launched Complete, a leading blood pressure monitor equipped with EKG Capability in a single machine.
Some of the other participants in the industry include Acoma Medical, Hill-Rom Services Inc, CIGA Healthcare, American Diagnostic Corporation, Microlife Corporation, OMRON Corporation, A&D Company, and CONTEC Medical, among several others.
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Partial Chapter of the Table of Content
Chapter 2. Executive Summary
2.1. Sphygmomanometer industry 3600 synopsis, 2015 - 2026
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Operation trends
2.1.4. Configuration trends
2.1.5. End-use trends
2.1.6. Regional trends
Chapter 3. Sphygmomanometer Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2026 (USD Million and Units)
3.3. Industry impact forces
3.3.1. Growth drivers
126.96.36.199. Rising incidence of cardiovascular disorders including hypertension
188.8.131.52. Increase in average patient visits in healthcare settings
184.108.40.206. Technological advancements in sphygmomanometers
220.127.116.11. Growing geriatric population pool
3.3.2. Industry pitfalls & challenges
18.104.22.168. Decreasing adoption of mercury thermometer
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By operation
3.4.3. By configuration
3.4.4. By end-use
3.5. COVID-19 impact analysis
3.6. Regulatory landscape
3.7. Porter’s analysis
3.8. Competitive landscape, 2019
3.8.1. Company matrix analysis, 2019
3.9. PESTEL analysis