SPHYGMOMANOMETER MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

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The North American region currently dominates the global sphygmomanometer market and is anticipated to contribute 41.6% of the market share in 2024. This can be attributed to several factors. The high healthcare expenditures in countries like the U.S. and Canada have translated to greater adoption of advanced medical devices including automated blood pressure monitors. Moreover, the presence of leading medical device companies in the region has ensured steady supply of innovative products. These companies have also engaged in strategic collaborations and partnerships to strengthen their distribution networks across the region. Growing instances of lifestyle diseases like hypertension have created a constant demand for sphygmomanometers from both hospitals as well as households. Favorable reimbursement policies have further encouraged patients to regularly monitor their blood pressure.

The Asia Pacific region has emerged as the fastest growing market for sphygmomanometers in recent times. This growth can be attributed to rising healthcare expenditures of developing countries in South East Asia. Rising incomes have improved access to advanced medical treatments. There is also a growing focus on preventive healthcare approaches to control diseases. This has augmented the sales of home-use blood pressure monitors. Rapid urbanization in countries like China and India has led to growing prevalence of sedentary lifestyle diseases. This has necessitated regular screening and monitoring of blood pressure levels both in healthcare facilities as well as households. Local manufacturing of affordable sphygmomanometers by Chinese and Indian companies has further fueled market penetration.