Electronic Sphygmomanometer Market Report Overview
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The global electronic sphygmomanometer market size was valued USD 2.537 billion in 2021 the market is expected to reach USD 4.899 billion in 2030, exhibiting a Compound annual growth rate (CAGR) of 7.5% during the forecast period.
A sphygmomanometer is a tool to take a patient's blood pressure while wearing a belt around their upper arms. The conventional sphygmomanometer takes blood pressure readings using a mercury tube, bulb, and valve. The only components of an electronic sphygmomanometer are a wire with an armband to secure it to the patient's upper arm and a digital screen to display the readings. The sphygmomanometer is a crucial and life-saving tool for those with cardiac conditions. In addition to measuring blood pressure, an electronic-sphygmomanometer also displays pulse rate.
It is very easy-to-use, portable, and durable to utilize an electronic-sphygmomanometer. These gadgets are simple enough for anyone to operate independently and without supervision. This is one of the main factors driving the market's expansion due to many people are susceptible to or already afflicted with cardiovascular diseases.
Covid-19 Impact: Surge In Market Growth Due To The Pandemic Related Health Scares
The COVID-19 outbreak has badly impacted many industries since it started, although the healthcare sector has seen a rise in revenues due to the pandemic. The COVID-19 pandemic has had a significant negative influence on people's health, which has increased demand for a variety of medical products such as oxygen generators, sphygmomanometers, oximeters, atomizers, life-support machines, and other medical equipment to maintain health. Since the COVID-19 pandemic, the healthcare sector has benefited greatly. The market has had a good upsurge, unlike anything that has ever happened before. Due to stringent regulations that made them essential for everyone, not just healthcare workers, protective gear, including gloves, masks, and goggles, has become increasingly in demand. The electronic-sphygmomanometer market would experience increased sales in the future if these variables were taken into consideration.
Latest Trends
"Adoption Of Wearable Devices Causes Market Hike"
The development of wearable technology has completely revolutionized the healthcare sector. Heart patients now have rapid and simple access to blood-pressure measurement equipment thanks to wearable technology advancement. The first wearable blood pressure monitor, HeartGuide, was introduced in January 2019 by Omron Health Inc. of the United States. The blood pressure monitor is connected to the mobile program HeartAdvisor for monitoring purposes. After its release, other companies created their wearable gadgets, which may be what drives the electronic sphygmomanometer market growth.
Electronic Sphygmomanometer Market Segmentation
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- By Type Analysis
Upper arm electronic sphygmomanometers and wrist arm electronic sphygmomanometers are the two categories into which the market can be split. The upper arm electronic sphygmomanometer is anticipated to be the market's dominant type during the years 2021–2030.
- By Application Analysis
The market can be segmented into hospital, clinic, home, and other segments based on application. During the anticipated period, the hospital segment is anticipated to dominate the market by application segment.
Driving Factors
"Rising Risk Of Hypertension Due To Lifestyle Changes Drives Market Growth"
One of the main drivers of the growth of the electronic sphygmomanometer market is the increased risk of hypertension among many people today due to the adoption of new lifestyles. As more people become aware of the risk and health concerns, they are eager to keep their blood pressure under control, among other things. Due to their senility, seniors make up a particularly substantial segment of the market for electronic-sphygmomanometers, and their extensive usage of the tools is driving the market's expansion.
"Rise Of Innovative Devices Could Augment Market Advancement"
The electronic sphygmomanometer market is expanding significantly due to the increase of wearable medical devices that may link to smartphones. The conventional sphygmomanometer appears antiquated and heavy due to the general populace and their changing lifestyle. Everyone's lives have been made easier by adopting the electronic sphygmomanometer, including both older and younger people. The market for electronic sphygmomanometer is growing due to the electronic sphygmomanometer's portability and lightweight, making it simple to possess as well.
Restraining Factors
"Higher Cost Of Devices May Hinder Market Expansion"
Due to the high cost of many electronic sphygmomanometers currently on the market, the potential growth of the electronic-sphygmomanometer market is anticipated to be constrained over the projected period. Additionally, many people may find it challenging to use an electronic sphygmomanometer if they lack the necessary skills. Seniors make up a large portion of the device's user base; therefore, their technical proficiency with electronic sphygmomanometers could potentially effectively impede the market's growth. Another factor is that many healthcare facilities already have traditional sphygmomanometers since their readings are generally more accurate, many choose not to upgrade to newer electronic sphygmomanometers, which limits the market's expansion for such devices.
Electronic Sphygmomanometer Market Regional Insights
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"Rise Of Chronic Heart Diseases Proliferate European Market "
Geographically, the Europe area currently holds the largest electronic sphygmomanometer market share. The primary factor contributing to the region's leadership is the rise of heart-related diseases there. The number of senior residents in the area, more prone to developing a wide range of disorders linked to either elevated or low blood pressure, has also increased the demand for electronic sphygmomanometers. Additionally, the region has many manufacturing businesses for the same, which has increased the need for electronic sphygmomanometers in the area.
The Asia Pacific region is second in line to have the largest market share of the electronic-sphygmomanometer market. Due to rising consciousness among the population in the Asia Pacific region about the hazards of cardiovascular illnesses, the market for electronic-sphygmomanometers is expanding at an accelerated rate. The market in this region is also boosted by a growing population that is mindful of their well-being and that of their loved ones, since Asia Pacific is the region with the highest population on earth.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Omron (Japan)
- A&D Medical (U.S.)
- Yuwell (China)
- Andon (China)
- Microlife (Switzerland)
- Health & Life (Taiwan)
- Rossmax (Taiwan)
- SunTech Medical (U.S.)
- Welch Allyn (U.S.)
- American Diagnostic (U.S.)
- Beurer (Germany)
- Bosch + Sohn (Germany)
- Briggs Healthcare (U.S.)
- Medisana (Germany)
- Citizen (Japan)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors such as segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 2.537 Billion in 2021 |
Market Size Value By |
US$ 4.899 Billion by 2030 |
Growth Rate |
CAGR of 7.5% from 2021 to 2030 |
Forecast Period |
2023-2030 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the global electronic sphygmomanometer market expected to touch by 2030?
The global electronic sphygmomanometer market is expected to touch USD 4.899 billion by 2030.
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What CAGR is the electronic sphygmomanometer market expected to exhibit during 2022-2030?
The electronic sphygmomanometer market is expected to exhibit a CAGR of 7.5% over 2022-2030.
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Which are the driving factors of the electronic sphygmomanometer market?
Some of the factors driving the electronic sphygmomanometer market include the rise in changing lifestyles that may result in cardiovascular diseases and the more recent inventions in the field of sphygmomanometers.
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Which are the top companies operating in the electronic sphygmomanometer market?
A few of the notable key players in the market are- Omron (Japan), A&D Medical (U.S.), Yuwell (China), Andon (China), and Microlife (Switzerland) are the top companies operating in the electronic sphygmomanometer market.