by A sphygmomanometer or a blood pressure monitor consists of an inflatable cuff wrapped around the patients arm and a mercury or electric air pressure manometer to measure the air pressure inside the cuff. Blood pressure monitoring is an essential part of care for patients with cardiovascular diseases. Regular monitoring helps manage blood pressure levels and prevents further complication.
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.
Rising cases of cardiovascular diseases due to sedentary lifestyles and unhealthy diets have increased the demand for blood pressure monitors significantly. Self-monitoring of blood pressure levels has become common as it helps identify irregularities and enables timely medical intervention.
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.
Rising prevalence of hypertension and cardiovascular diseases globally has increased the demand for blood pressure monitoring devices substantially. Self-monitoring helps manage blood pressure levels efficiently and aids early diagnosis and treatment. Growing focus on preventive healthcare is augmenting market revenue.
The surging geriatric population base that is highly susceptible to hypertension has boosted the Sphygmomanometer Market Size. Additionally, manufacturers are increasingly focusing on developing technologically advanced connected blood pressure monitors with WiFi and Bluetooth connectivity. This is expected to open lucrative growth opportunities for market players globally.
Market Key Trends
The sphygmomanometer market is witnessing a major trend towards development of connected blood pressure monitoring devices. These devices can seamlessly transmit readings to smartphones and enable remote monitoring by doctors. This facilitates continuous monitoring of patients with hypertension. OMRON Healthcare offers Bluetooth enabled upper arm blood pressure monitors that transmit readings to Omron Connect app on smartphones. Users can easily share reports with doctors. Similarly, iHealth align monitor from iHealth Labs transfers readings to iOS and Android devices through Bluetooth connectivity. The connected technology enables accurate, long-term monitoring while improving patient-doctor communication. This emerging trend is expected to significantly drive the demand for smart sphygmomanometers over the forecast period.
Porter’s Analysis
Threat of new entrants: Low startup costs for manufacturing sphygmomanometers allow new companies to enter the market easily. However, established brands have strong brand loyalty and global distribution networks that new entrants will find difficult to replicate.
Bargaining power of buyers: Individual consumers have low bargaining power due to a variety of sphygmomanometer offerings at different price points. However, large volume buyers like hospitals can negotiate on price and demand better services.
Bargaining power of suppliers: A few key components manufacturers exist, giving them some control over pricing and supply. However, suppliers also rely on equipment producers for demand, balancing their influence.
Threat of new substitutes: New remote monitoring devices may threaten sales but cannot replace traditional sphygmomanometers altogether due to regulations and accurate readings needs.
Competitive rivalry: Major players compete on technology, pricing and services that benefit consumers.
Geographical Regions
North America accounts for the largest share of the sphygmomanometer market value due to higher healthcare spending and device affordability in the US and Canada. The growing number of diagnostic centers, hospitals and increasing cases of hypertension also support market growth.
The Asia Pacific region is projected to witness the fastest growth during the forecast period attributed to rising healthcare infrastructure, large patient pools in countries like China and India, and growing medical tourism. Rising affluence, health awareness and greater acceptability of digital devices are driving the regional market.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya,a 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, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
