The market for tonometry device worldwide is forecasted to be priced at US$ 109.68 million in the year 2022 and is anticipated to show a CAGR of 6.1% in the projected period from 2022 to 2030, as issued in a newly report by Coherent Market Insights.
The rising use of strategies of inorganic type by the main companies in the market like partnerships in developing devices for monitoring heart health is anticipated to fuel the growth of the market in the predicted period. For example, Mobvoi Inc., is an artificial intelligence company started its partnership with Cardiex which is a company of health technology across the world on 1st March, 2022, introduced its launch of TicWatch GTH Pro, a smartwatch to monitor the condition of the heart. This smartwatch is based on the technology of ATCOR’s, which is a subsidiary of Cardiex which can measure the vital; arterial waveforms, with the help of dual Photoplethysmography sensor in measuring the arterial health.
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Global Tonometry Device Market– Impact of Coronavirus (COVID-19) Pandemic
The pandemic of coronavirus pandemic (COVID-19) and its outbreak was reported first on 31st December, 2019 in Wuhan, China. WHO or the World Health Organization confirmed COVID-19 a pandemic on 11th March, 2020. Globally, nationwide lockdowns were imposed or led down by the governments that adversely affected the economies’ private healthcare sectors across the world.
Several industrial set ups were closed down due to the lockdown, excluding some the manufacturing of the essential commodities and interruption in the supply chain and distribution network of the products. Therefore, the pandemic the economies were affected in three main ways- the production and the demand got severely affected directly, creation of interruption in the distribution networks and impacting the firms and the market’s financial condition. The activities of supply chain and manufacturing in North America, Europe and Asia Pacific and other regions across the world faced interruptions owing to lockdown.
Furthermore, the providers of the healthcare were encountering many threats because of extra manpower, consumables, equipment and many other things which is needed to enable hospital safety and in giving treatments to patients suffering from different ailments also adversely affected the market.
The Study Objectives are:
✔️ A comprehensive insight into key players operating in the Tonometers Market and their corresponding data.
✔️ It includes product portfolio, annual revenue, expenditure on research and development, geographical presence, key developments in recent years, and growth strategies.
✔️ Regional analysis, which includes insight into the dominant market and corresponding market share.
✔️ It also includes various socio-economic factors affecting the evolution of the market in the region.
✔️ The report offers a comprehensive insight into different individuals from value chains such as raw materials suppliers, distributors, and stockholders.
Global Tonometry Device Market: Key Developments
A global health technology company, Cardiex on 13th April, 2022 declared that the company’s subsidiary, CONNEQT- a digital company had filed a clearance submission for the smartphone application CONNEQT app, with USFDA (United States Food and Drug Administration). The application of CONNEQT makes use of the technology of SphygmoCor blood pressure and is driven by ATCOR, the subsidiary firm of Cardiex. It is combinedly used with the device of CONNEQT Pulse in monitoring the blood pressure.
Itamar Medical Ltd is a multinational medical equipment company whose CEO announced in October 2021 in carrying out R&D (research and development) of the launch of new era Home Sleep Apnea Testing WatchPat having Peripheral Arterial Tonometery (PAT) at reasonable price.
Furthermore, the companies of the market emphasized on the growth strategies which were inorganic in form like collaborating with other company in expanding its portfolio of the product. For example, a medical device company named AliveCor and a medical equipment manufacturing company, named OMRON Healthcare, Co., announced their partnership where ECG technology of the AliveCor and OMRON’s blood pressure devices to be used together in expanding entry in the care for remote patients on April 2020. The partnership bring into lines the world tendency to set-up the a remote clinical in monitoring devices and in enabling monitoring of patients and in reduction of contacts among the number of patient and healthcare providers at the time of COVID-19.
Key Takeaways of the Global Tonometry Device Market
- The market for tonometry device across the world is anticipated to show a CAGR of 6.1% in the predicted period owing to the use of strategies like partnerships by the main players in strengthening the market presence. For example, Millar Inc., and Schwarzer Cardiottek, both are electrophysiology measurement systems company in August 2021, introduced their strategic partnership in promoting Millar Mikro-Cath and EP-Tracer recording system. Millar Mikro-Cath pressure catheter with EP-Tracer helps in improving the implantation efficiently and with optimum pacemaker’s placement.
- Based on the application, the segment of hypertension is forecasted in holding a strong position in the market for tonometry device across the world in the predicted period, due to the incidence of hypertension getting raised with age resulting in high blood pressure risks. Blood pressure can be controlled if correct measurement is done with accurate diagnosis and treatment decisions.
- Based on the region, North America is forecasted to report for the major share of the market in the market of tonometry device worldwide in the predicted period due to novel patents getting approved by the government. For example, a health technology subsidiary of ATCOR, named Cardiex in September 2021 received the novel patent of EPO or the European Patent Office for its SphygmoCor technology, which is applied in the cuff-based blood pressure monitors. The patent aims in protecting the intellectual properties of the company in regard to measuring central BP (blood pressure) waveform with cardiovascular features by means of an arm cuff.
- The main companies in the market of tonometry device worldwide are ATCOR, Millar, OMRON HEALTHCARE Co.,Ltd., DAEYOMEDI, MedTach, Itamar Medical Ltd., DiaTecne s.r.l., Alam Medical, Cardiovascular Engineering Inc., OCULUS, Keeler, Haag-Streit Group, SunTechMedical, Inc., Osypka Medical and Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
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Reasons to buy this Tonometers Market Report:
✅️ It attempts an analysis of the competing scenario.
✅️ The current and exceptional product revenue market.
✅️ An in-depth data on the regional investigation and competitive landscape structure.
✅️ It benefits in creating an awareness of the important key product segments.
✅️ The marketing strategies, opportunities, and development factors are explained.
✅️ Tonometers market size estimation and recent advancements in the industry are explained.
Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Tonometers Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Tonometers Industry Impact
Chapter 2 Global Tonometers Competition by Types, Applications, and Top Regions and Countries
2.1 Global Tonometers (Volume and Value) by Type
2.3 Global Tonometers (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Tonometers Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Tonometers Market Analysis
Chapter 6 East Asia Tonometers Market Analysis
Chapter 7 Europe Tonometers Market Analysis
Chapter 8 South Asia Tonometers Market Analysis
Chapter 9 Southeast Asia Tonometers Market Analysis
Chapter 10 Middle East Tonometers Market Analysis
Chapter 11 Africa Tonometers Market Analysis
Chapter 12 Oceania Tonometers Market Analysis
Chapter 13 South America Tonometers Market Analysis
Chapter 14 Company Profiles and Key Figures in Tonometers Business
Chapter 15 Global Tonometers Market Forecast (2022-2028)
Chapter 16 Conclusions
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