Global Sphygmomanometer Market is expected to grow at a CAGR of 10.2% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Sphygmomanometer Market by Product (Mercury Sphygmomanometer, Digital Sphygmomanometer, Aneroid Sphygmomanometer), Operation (Electric, Manual, Automatic, Semi-automatic), Configuration (Portable, Desk Mounted, Floor Standing, Wall Mounting), End-Users (Ambulatory Surgical Centers, Hospitals, Clinics, Others), Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global sphygmomanometer market is expected to grow from USD 1.7 billion in 2019 to USD 3.7 billion by 2027, at a CAGR of 10.2% during the forecast period 2020-2027. North America holds the largest share, owing to the increasing demand for technologically enhanced products. In the region, the U.S. and Canada are the major consumers of a sphygmomanometer, owing to the increasing prevalence of chronic disorders. The Asia-Pacific region is anticipated to witness significant growth in India, China, and Japan. In Japan, the sphygmomanometer market is expected to witness significant growth, owing to a growing old age population with chronic disorders, a rise in awareness among people regarding health, and an increase in the number of people suffering from hypertension.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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The product segment includes mercury sphygmomanometer, digital sphygmomanometer, and aneroid sphygmomanometer. The digital sphygmomanometer is further segmented into wrist electronic sphygmomanometer, and arm electronic sphygmomanometer. The digital sphygmomanometer holds the largest share, as these devices are easy to use, accurate, mercury free, and have automatic functioning. Rising awareness among people regarding their health propels the market growth. The operation segment includes electric, manual, automatic, and semi-automatic. The manual segment holds the largest market share, owing to its accurate readings compared to other devices, and also helps confirm the diagnosis of hypertension among patients. The configuration segment includes portable, desk mounted, floor standing, and wall mounting. The portable blood pressure monitors hold the largest market share, owing to an increase in growing awareness regarding preventive treatment, an increase in the geriatric population, and the need for convenient blood pressure monitor tools. Based on end-user, the market is segmented into ambulatory surgical centers, hospitals, clinics, and others. The hospital segment holds the largest share, owing to an increasing number of physicians, high demand, and the adoption rate of basic diagnostic equipment.
The factors influencing the market are the evolution of advanced sphygmomanometer, increasing awareness about hypertension and risks associated with it, technological advancement, increase in average patient visits in healthcare settings, and growing innovations in sphygmomanometer device offering convenient and precise readings. The factor restraining the market growth is decreasing adoption of mercury thermometer.
About the report:
The global sphygmomanometer market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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