September 24, 2020
According to the research report titled ‘Sphygmomanometer Market Size By Product, By Operation, By Configuration, By End-use, Industry Analysis Report, Regional Outlook, Application Development Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, global sphygmomanometer market is expected to showcase a strong CAGR between 2020 and 2026.
High occurrence of hypertension and rising population of baby boomers are key factors driving the growth of global sphygmomanometer market share. For those uninitiated, sphygmomanometer is blood pressure measuring equipment which consists of an inflatable rubber cuff. It is usually wrapped around the arm.
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As per product type, the report cites that mercury sphygmomanometer market segment accounted for USD 38.1 million in the year 2019 but is anticipated to experience a decent growth during the study period. Mercury-based sphygmomanometer are not only easy to operate but also have a longer lifecycle. Moreover, ability of the product to produce accurate results is fueling the segmental share.
In terms of operation type, worldwide sphygmomanometer industry share from electric segment was worth USD 81.1 million in the year 2019 and is predicted to expand with a CAGR of 11.1% through 2026. On the other hand, the semi-automatic segment reached a valuation of USD 281.9 million in 2019 and is poised to showcase 11.7% CAGR between 2020 and 2026.
Moving on to configuration type, the floor standing segment of global sphygmomanometer market amassed returns worth USD 113.2 million in the year 2019 and is reckoned to record a CAGR of 10% through 2026. Meanwhile, the wall mounted segment was valued at USD 97.8 million and is slated to witness 9.6% CAGR during the study duration.
Citing the end-user landscape, global sphygmomanometer market revenues from clinics were recorded at USD 102.1 million in the year 2019 and is expected to grow with a CAGR of 10.4% between 2020 and 2026.
Regionally, Latin America sphygmomanometer industry size reached a valuation of USD 94 million in the previous year and is poised to witness 10.6% CAGR through 2026. Rapid expansion of the healthcare sector and increasing collaborations between market majors in order to integrate & offer advanced technologies are boosting the business outlook in Latin America.
On the other hand, Middle East & Africa market accounted for USD 35.4 million in 2019 and is estimated to record a y-o-y growth rate of 10.8% during the forecast duration, primarily driven by flourishing healthcare sector, availability of advanced medical infrastructure, and increasing awareness pertaining to regular pediatric check-ups.
The companies that formulate global sphygmomanometer market are Yuwell-Jiangsu Yuyue Medical Equipment & Supply Co. Ltd., Hill-Rom Services Inc. (Welch Allyn), Troge Medical GmbH, Timesco Healthcare Ltd., Sklar Surgical Instruments, Spengler Co. Inc., Rudolf Riester GmbH (Halma Plc), Rossmax International Ltd., Omron Corporation, Microlife Corporation, 3B Scientific, HEINE Optotechnik GmbH & Co. KG, Contec Medical Systems Co. Ltd., CIGA Healthcare Ltd., Bremed Ltd., A&D Co. Ltd., Amico Group of Companies, American Diagnostic Corporation, AmbulanceMed, and Acoma Medical Industry Co. Ltd. among others.