Sphygmomanometer Market Poised to Grow Owing to Rising Prevalence of Hypertension
A sphygmomanometer, commonly known as a blood pressure meter, is a device used to measure blood pressure. It provides an indirect measurement of arterial blood pressure and is one of the most basic clinical tools for screening for hypertension. With rising cases of hypertension worldwide coupled with increasing health awareness, demand for home-use and professional blood pressure meters has seen considerable growth in recent years.
The global sphygmomanometer market is estimated to be valued at US$ 3.92 Bn 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 include 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, and Homedics.
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, and Homedics. These players are focusing on new product launches and strategic collaborations to gain more market share.
The rising awareness about hypertension and its management through regular monitoring of blood pressure levels has opened lucrative growth opportunities such as increased demand for home-use and wearable blood pressure monitors. Sphygmomanometer Market Size Additionally, the growing geriatric population who are more prone to cardiovascular diseases will contribute to the growth of the market.
Key players are expanding their presence globally through partnerships with distributors in different countries. Market players are also focusing on emerging markets in Asia Pacific and Latin America expecting rising health expenditures and growing medical device industry in these regions.
Market Drivers
Some key drivers influencing the growth of the sphygmomanometer market are:
- Rising prevalence of hypertension - Hypertension is a major public health issue impacting over 1 billion people worldwide. Regular blood pressure monitoring is considered important for effective hypertension management which drives the demand for sphygmomanometers.
- Increasing healthcare expenditures - Growing investments in healthcare infrastructure development and rising per capita healthcare expenditures globally are favoring the market growth.
Market Restrains
Few challenges restraining the market growth include:
- Product recalls - Frequent product recalls owing to device malfunctions pose significant challenges for market players and undermine user confidence in devices.
- Availability of alternative technologies - The emergence of alternate monitoring technologies like wearable blood pressure cuffs threatens the sales of conventional sphygmomanometers.
Segment Analysis
Sphygmomanometer market is divided based on product type which includes desk/table top sphygmomanometers, floor-standing sphygmomanometers, portable sphygmomanometers. Among these, portable sphygmomanometers dominate the market as they offer mobility and easy measurement of blood pressure at any location. They are lightweight and compact in design making it easy to carry while traveling or during house visits by doctors or nurses.
Global Analysis
Regionally, North America holds the largest share in the sphygmomanometer market owing to high prevalence of hypertension in the region. According to estimates, over 100 million Americans suffer from hypertension. Moreover, increasing healthcare spending and availability of advanced devices propel market growth. Asia Pacific market is growing at fastest pace due to rising healthcare awareness, expanding healthcare infrastructure and improving reimbursement policies in major countries like India and China. Meanwhile, key players are focusing on emerging economies of Latin America and Middle East & Africa to tap growth opportunities.
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