The sphygmomanometer market comprises blood pressure monitoring devices such as mercury sphygmomanometers, aneroid sphygmomanometers, digital sphygmomanometers and ambulatory blood pressure monitoring devices. These devices help in maintaining accurate blood pressure readings which is important for effective management of hypertension.

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.

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.

The rising prevalence of hypertension and chronic diseases worldwide is fuelling the demand for Sphygmomanometers Market Demand. According to WHO, the number of adults with hypertension was around 1.13 billion in 2015 and is expected to increase by around 60% to around 1.5 billion globally by 2025.

Major market players are expanding their geographical presence to strengthen their market position. For instance, in 2021, Koninklijke Philips N.V. opened a new global manufacturing facility in Tamil Nadu, India to help expand its business in the country. Similarly, other players are focusing on emerging markets in Asia Pacific and Latin America to leverage growth opportunities.

Market drivers

The growing geriatric population is a major driver for the sphygmomanometer market. According to the United Nations, the number of people aged 60 or above is expected to double from 12% to 22% between 2015 and 2050. Hypertension is highly prevalent in the elderly population driving demand for easy to use, affordable blood pressure monitoring devices. Furthermore, increasing awareness about hypertension management, technological advancements in blood pressure monitoring devices and growing adoption of home healthcare are expected to propel market growth during the forecast period. Additionally, favorable reimbursement policies in developed markets and increasing healthcare expenditure in developing countries are supplementing the sphygmomanometer market growth.

Get more insights on This Topic- Sphygmomanometers Market