Global Tonometry Device Market, by DeviceType (Applanation Tonometers, Pascal Dynamic Contour Tonometers, Rebound Tonometers, Indentation Tonometers), by Application (Heart failure, Hypertension, Arteriosclerosis, Others (COPD, and Diabetes etc.)), by End User (Hospitals, Specialty Clinics and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 109.68 Million in 2022 and is expected to exhibit a CAGR of 6.1% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
The increasing adoption of inorganic strategies by the key players in the market such as partnerships for the development of heart health monitoring devices is expected to boost the market growth over the forecast period. For instance, on March 1, 2022, Mobvoi Inc., an artificial intelligence employing company, in partnership with CardieX, a global health technology company, announced the launch of a heart health monitoring smartwatch, the TicWatch GTH Pro. The TicWatch GTH Pro is a smartwatch which is developed using CardieX subsidiary ATCOR's technology that can measure central arterial waveforms, with dual (PPG) Photoplethysmography sensors to measure the atrial health.
Global Tonometry Device Market– Impact of Coronavirus (COVID-19) Pandemic
The coronavirus (COVID-19) pandemic is the most recent outbreak, which was first reported on December 31, 2019 in Wuhan, China. The World Health Organization declared COVID-19 a pandemic on March 11, 2020. Lockdown or shutdown was imposed in many countries globally, which had a negative impact on the economy of the private healthcare sector globally.
This lockdown resulted in the closure of industrial establishments, except manufacturing of essential commodities, and disruption in the supply chain of products. Thus, the COVID-19 pandemic has affected the economy in three main ways: by directly affecting the production and demand, by creating disruptions in distribution channels, through its financial impact on firms and financial markets. Supply chain and manufacturing activities in North America, Asia Pacific, Europe, and other global regions have been disrupted due to lockdown
Moreover, healthcare providers were facing challenges in terms of additional manpower, equipment, consumables, and other resources, which are required to ensure safety in hospitals and provide treatment to patients with other diseases, which also impacted the market negatively.
Global Tonometry Device Market: Key Developments
On April 13, 2022, CardieX, a global health technology company, announced that its subsidiary CONNEQT, a digital company, had filed a clearance submission for its smartphone application CONNEQT app, with the U.S. Food and Drug Administration (FDA). The CONNEQT app uses SphygmoCor blood pressure monitoring technology and is powered by Cardiex's other subsidiary firm, ATCOR. It is used in conjunction with the CONNEQT Pulse device to monitor blood pressure.
In October 2021, Itamar Medical Ltd., a multinational medical equipment manufacturing company CEO announced that the company will carry out research and development for the launch of new era of Home Sleep Apnea Testing WatchPAT with Peripheral Arterial Tonometry (PAT) at affordable price.
Browse 34 Market Data Tables and 39 Figures spread through 163 Pages and in-depth TOC on “Global Tonometry Device Market”- Forecast to 2030, Global Tonometry Device Market, by by DeviceType (Applanation Tonometers, Pascal Dynamic Contour Tonometers, Rebound Tonometers, Indentation Tonometers), by Application (Heart failure, Hypertension, Arteriosclerosis, Others (COPD, and Diabetes etc.)), by End User (Hospitals, Specialty Clinics and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/tonometers-market-66
Moreover, The market players are focused on inorganic growth strategies such as partnership with other market players to expand its product portfolio. For instance, in April 2020, AliveCor, a medical device company, and OMRON Healthcare, Co., Ltd., a medical equipment manufacturing company, announced a global partnership in which AliveCor's ECG technology and blood pressure devices from OMRON is combined together to expand access in remote patient care. This partnership aligns with global trends to deploy non-invasive remote monitoring devices to facilitate patient monitoring while reducing patient and healthcare provider contact during the current pandemic i.e. COVID-19.
Key Takeaways of the Global Tonometry Device Market:
- The global tonometry device market is expected to exhibit a CAGR of 6.1% during the forecast period due to the increasing adoption of strategies such as partnerships by the key players to strengthen presence in the market. For instance, in August 2021, Millar, Inc. and Schwarzer Cardiotek, an electrophysiology measurement systems company, announced their strategic partnership to promote Millar Mikro-Cath and EP-Tracer recording system. Millar Mikro-Cath pressure catheter with EP-TRACER improves the efficient implantation and optimal placement of pacemakers.
- Among applications, hypertension segment is estimated to hold a dominant position in the global tonometry device market over the forecast period, owing to the prevalence of hypertension is increasing with age results into rising the lifetime risk of high blood pressure. Controlling of blood pressure starts with accuracy measurement leading to an appropriate diagnosis and treatment decisions.
- Among regions, North America is estimated to account for the largest market share in the global tonometry device market over the forecast period owing to new patent approvals by government. For instance, in September 2021, CardieX, a health technology subsidiary of ATCOR, received a new patent from the European Patent Office (EPO) for its SphygmoCor technology used in cuff-based blood pressure monitors. The patent protects the company's intellectual property related to the measurement of central blood pressure (BP) waveform with cardiovascular features using an arm cuff.
- Major players operating in the global tonometry device market include 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.
