Dublin, Oct. 28, 2024 (GLOBE NEWSWIRE) -- The "Digital/Electrical Sphygmomanometer - Market Insights, Competitive Landscape, and Market Forecast - 2030" report has been added to ResearchAndMarkets.com's offering.
The global digital/electrical sphygmomanometer market was valued at USD 977.78 million in 2023, growing at a CAGR of 10.57%% during the forecast period from 2024 to 2030 to reach USD 1.78 billion by 2030.
The increasing incidence of hypertension and other circulatory disorders has fueled the demand for regular blood pressure monitoring, driving the market for digital/electrical sphygmomanometers. These disorders often require continuous monitoring to manage risks, which increases reliance on home-use devices. Increased health awareness is boosting regular monitoring, making digital sphygmomanometers popular for their ease of use and portability. Additionally, continuous innovations, such as Bluetooth connectivity and smartphone integration, are enhancing their appeal to both consumers and healthcare providers, further propelling market growth. This expansion of treatment options and increased competition enhances patient outcomes and propels market growth from 2024 to 2030.
Digital/Electrical Sphygmomanometer Market Dynamics:
As per the latest data provided by World Health Organization (2023), an estimated 1.28 billion adults aged 30-79 years worldwide had hypertension, with most (two-thirds) residing in low- and middle-income countries. An estimated 46% of adults with hypertension were unaware of their condition, and less than half (42%) had been diagnosed and treated.
According to a recent data provided by British Heart Foundation (2024), globally, approximately 620 million people, or about 1 in 13 individuals, lived with heart and circulatory diseases. Additionally, as per the same source, the prevalence of heart and circulatory diseases was 100 million in Europe and 340 million in Asia and Australia in 2021. Furthermore, as per the recent data provided by the British Heart Foundation (2024), coronary (ischemic) heart disease, was the most commonly diagnosed worldwide, affected an estimated 200 million people globally. Approximately 110 million men and 80 million women were affected. Additionally, around 56 million women and 45 million men were stroke survivors. It was estimated that at least 13 million people worldwide lived with congenital heart disease, with potentially millions more undiagnosed.
As hypertension is a major risk factor for various cardiovascular conditions, including heart attacks, strokes, and heart failure, there is an increasing need for regular and accurate monitoring of blood pressure to manage these diseases effectively. Thus, digital sphygmomanometers, with their user-friendly interfaces, portability, and ability to provide reliable readings without requiring extensive medical training, have become indispensable tools for both patients and healthcare providers thereby escalating the overall market of digital/electrical sphygmomanometer across the globe.
Along with the factors mentioned above, technological advancements in the field of digital/electrical sphygmomanometer such as the development of new techniques to enhance the yield and diagnostic accuracy are also expected to aid in the growth of the digital/electrical sphygmomanometer market. For instance, in January 2022, Aktiia announced a landmark hypertension trial in the United States in collaboration with a top US hypertension center, for its world's 24/7 blood pressure monitor, which automatically gathers over 100x the data and has over 10x the engagement of other blood pressure monitors.
However, digital/electrical sphygmomanometer being very sensitive due to which body movements affect its accuracy and the need for continuous recalibration of the devices may be certain limiting factors of the digital/electrical sphygmomanometer market growth.
Digital/Electrical Sphygmomanometer Market Segment Analysis:
In the product type segment of the overall digital/electrical sphygmomanometer market, the wrist type digital/electrical sphygmomanometer are expected to hold the largest share in the year 2023. Wrist-worn digital/electrical sphygmomanometers are playing a significant role in boosting the overall market for blood pressure monitoring devices. Their unique design and user-friendly features cater to a growing demand for convenience, portability, and real-time health monitoring, contributing to their increasing popularity among consumers and healthcare providers alike.
Additionally, the primary advantages of wrist-worn sphygmomanometers is their portability. Wrist-worn models are compact and lightweight, making them ideal for users who need to monitor their blood pressure regularly while on the go. This convenience appeals to a broad range of consumers, including those who travel frequently or have busy lifestyles, thereby expanding the market reach of digital sphygmomanometers. These devices are typically easier to position and operate than their upper-arm counterparts, which can be especially beneficial for elderly users or individuals with limited mobility. The simplicity of wrist-worn sphygmomanometers encourages more frequent monitoring, aligning with the growing trend of proactive health management. As people become more aware of the importance of tracking their blood pressure regularly to prevent or manage conditions like hypertension, the demand for user-friendly, accessible devices increases, further boosting the market.
Furthermore, the technological advancements in wrist-worn digital sphygmomanometers are also contributing to their rising popularity. Modern devices often feature integration with smartphones and other digital health platforms, allowing users to easily track and analyze their blood pressure data over time. This ability to monitor trends and share data with healthcare providers enhances the utility of wrist-worn devices, making them an attractive option for tech-savvy consumers and those managing chronic conditions.
North America is expected to dominate the overall digital/electrical sphygmomanometer market:
Among all the regions, North America is expected to hold the largest share in the global digital/electrical sphygmomanometer market in 2023. Owing to significant growth factors such as hypertension, cardiovascular diseases. Additionally, increasing health awareness, rising government initiatives, and increasing product launches and product approvals are expected to aid in the growth of the North American digital/electrical sphygmomanometer market during the forecast period from 2024 to 2030.
According to the latest data provided by the Centre for Disease Control and Prevention (2023), approximately, 48.1% population of adults age 18 and older in the United States are living with hypertension. Additionally, as per the recent data from the Centers for Disease Control and Prevention (2024), approximately 4.9% of adults were diagnosed with coronary heart disease in 2022. Furthermore, by 2023, an estimated 12.1 million individuals in the United States were projected to have atrial fibrillation. Additionally, each year, over 795,000 people in the U.S. experience a stroke, with around 610,000 of these being first-time strokes. Notably, nearly 185,000 of these strokes, or about one in four, occur in individuals who have previously had a stroke. With hypertension being a critical risk factor for cardiovascular conditions, including heart attacks, strokes, and heart failure, there is an escalating need for reliable and consistent blood pressure monitoring. Digital sphygmomanometers, with their user-friendly design, portability, and precision, have become indispensable for effective disease management. This trend is accelerating the growth of the digital/electrical sphygmomanometers across the region.
Furthermore, the increased emphasis on product development activities and high interest of device manufacturers in accessing local markets further aid in the growth of the regional markets for digital/electrical sphygmomanometer. For instance, in March 2021, Qardio, Inc. announced the US Food and Drug Administration (FDA) 510k clearance for its QardioCore ambulatory ECG device.
Digital/Electrical Sphygmomanometer Market Key Players:
Some of the key market players operating in the Digital/Electrical Sphygmomanometer market include OMRON Healthcare, Hill-Rom Services, A&D Company, SunTech Medical, American Diagnostic, Withings, General Electric, Microlife, GF Health Products, Spacelabs Healthcare, Rudolf Riester, Contec Medical Systems, ARCHOST, Panasonic, Yuwell-Jiangsu Yuyue medical equipment & supply Co., ERKA Kallmeyer Medizintechnik, BOSCH + SOHN, Beijing Choice Electronic Tech Co.,, Koninklijke Philips, SPENGLER HOLTEX Group and others.
Key Takeaways From the Digital/Electrical Sphygmomanometer Market Report Study:
- Market size analysis for current digital/electrical sphygmomanometer size (2023), and market forecast for 6 years (2024 to 2030)
- Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
- Key companies dominating the digital/electrical sphygmomanometer market.
- Various opportunities available for the other competitors in the digital/electrical sphygmomanometer market space.
- What are the top-performing segments in 2023? How these segments will perform in 2030?
- Which are the top-performing regions and countries in the current digital/electrical sphygmomanometer market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for digital/electrical sphygmomanometer market growth in the coming future?
Key Topics Covered:
1. Digital/Electrical Sphygmomanometer Market Report Introduction
1.1. Scope of the Study
1.2. Market Segmentation
1.3. Market Assumption
2. Digital/Electrical Sphygmomanometer Market Executive Summary
2.1. Market at Glance
3. Competitive Landscape
4. Regulatory Analysis
4.1. The United States
4.2. Europe
4.3. Japan
4.4. China
5. Digital/Electrical Sphygmomanometer Market Key Factors Analysis
5.1. Digital/Electrical Sphygmomanometer Market Drivers
5.1.1. Increasing incidence of hypertension, cardiovascular diseases, and other circulatory system disorders
5.1.2. Increasing awareness for health
5.1.3. Growing technological advancements in the field of digital/electrical sphygmomanometer
5.2. Digital/Electrical Sphygmomanometer Market Restraints and Challenges
5.2.1. Accuracy concerns related to digital/electrical sphygmomanometer
5.2.2. Need for continuous recalibration of sphygmomanometer devices
5.3. Digital/Electrical Sphygmomanometer Market Opportunities
5.3.1. Increase in shift toward remote patient monitoring, combined with the emergence of wearable devices
6. Digital/Electrical Sphygmomanometer Market Porter's Five Forces Analysis
7. Digital/Electrical Sphygmomanometer Market Assessment
7.1. By Product Type
7.1.1. Upper Arm
7.1.2. Wrist Type
7.2. By Technology
7.2.1. Full-Automatic
7.2.2. Semi-Automatic
7.3. By Portability
7.3.1. Portable
7.3.2. Non-Portable
7.4. By End-User
7.4.1. Hospitals & Clinics
7.4.2. Ambulatory Care Centers
7.4.3. Homecare Settings
7.4.4. Others
7.5. By Geography
8. Digital/Electrical Sphygmomanometer Market Company and Product Profiles
- OMRON Healthcare, Inc.
- Hill-Rom Services, Inc.
- A&D Company Limited
- SunTech Medical, Inc.
- American Diagnostic Corporation
- Withings
- General Electric Company
- Microlife Corporation
- GF Health Products
- Spacelabs Healthcare
- Rudolf Riester
- Contec Medical Systems
- ARCHOST
- Panasonic Corporation
- Yuwell-Jiangsu Yuyue medical equipment & Supply Co.
- ERKA Kallmeyer Medizintechnik
- Bosch + Sohn
- Beijing Choice Electronic Tech Co.
- Koninklijke Philips
- Spengler Holtex Group
9. KOL Views
10. Project Approach
For more information about this report visit https://www.researchandmarkets.com/r/fdv3dt
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