Global Sphygmomanometer Market Trends,
Medical Equipment

5 Key Insights On The Sphygmomanometer Market 2024

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Sphygmomanometer Global Market Report 2024, the sphygmomanometer market is expected to show significant growth in the forecast period.

The sphygmomanometer market has witnessed robust growth in recent years, fueled by various factors contributing to its expansion and innovation.

Current Market Landscape

  • The market size surged from $2.8 billion in 2023 to $3.06 billion in 2024, reflecting a Compound Annual Growth Rate (CAGR) of 9.1%.
  • Historic growth is attributed to the construction industry’s expansion, demand from the agricultural sector, versatility, and efficiency in material handling.

Anticipated Growth Patterns

  • Forecasts indicate a strong growth trajectory, with the market expected to reach $4.38 billion by 2028, driven by factors such as renewable energy projects, urbanization, and precision agriculture practices.
  • Emerging trends include product innovation, compact designs, and integration of telematics and IoT, reflecting the industry’s commitment to technological advancements.

Rising Prevalence of Chronic Illnesses Fueling Growth in the Sphygmomanometer Market
The increasing prevalence of chronic illnesses, including diabetes and hypertension, serves as a primary driver for market expansion. Sphygmomanometers play a crucial role in managing chronic conditions and diagnosing cardiovascular diseases.

  • Statistics reveal a significant burden of chronic illnesses, driving the demand for efficient diagnostic tools.
  • Major players such as A&D Company Ltd., Omron Healthcare Inc., and Microlife Corporation dominate the market, showcasing innovation and reliability.

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Technological Advancements Drive the Rise of Wireless and Mobile Sphygmomanometers
Technological innovations, particularly in wireless and mobile sphygmomanometers, are reshaping the market landscape. Market leaders are investing in advanced solutions to enhance patient monitoring and healthcare outcomes.

  • Pylo Health’s cellular blood pressure monitor exemplifies innovation, enabling real-time data transmission for improved patient care.
  • SunTech Medical Inc.’s acquisition of Meditech Kft. underscores the industry’s strategic initiatives to expand product portfolios and cater to evolving customer needs.

Market Segmentation Insights
The sphygmomanometer market is segmented based on product type, configuration, operation, and end-user applications, providing insights into diverse consumer preferences and industry requirements:

  1. By Product: Electronic Sphygmomanometer, Aneroid Sphygmomanometer, Mercury Sphygmomanometer
  2. By Configuration: Portable, Desk Mounted, Floor Standing, Wall Mounted
  3. By Operation: Electric, Manual, Automatic, Semi-automatic
  4. By End User: Hospitals, Ambulatory Surgical Centers And Clinics, Home Healthcare, Other End Users

Regional Perspectives

  • North America led the sphygmomanometer market in 2023, highlighting the region’s significant contribution to industry revenue.
  • Asia-Pacific emerges as the fastest-growing region, reflecting increasing healthcare investments and technological advancements.

The sphygmomanometer market’s evolution reflects the healthcare industry’s commitment to innovation, efficiency, and patient care. As the market continues to mature, stakeholders remain poised to capitalize on emerging opportunities and address evolving healthcare challenges worldwide.

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