Magnetic resonance imaging (MRI) pulse oximeters are crucial medical devices used to monitor patients' oxygen saturation levels during MRI procedures. They provide real-time, non-invasive measurements, enabling healthcare professionals to ensure patient safety and detect oxygen fluctuations promptly. These oximeters feature robust and accurate sensor that can withstand the MRI environment's strong magnetic fields and radiofrequency interference. The data they provide aids in managing anesthesia, detecting respiratory issues, and assessing a patient's overall health status during MRI scans, making them indispensable tools in modern healthcare settings.
According to Data Bridge Market Research, the Global Magnetic Resonance Imaging (MRI) Pulse Oximeters Market accounted for USD 557.8 million by 2021 and is expected to reach USD 706.60 million by 2029. The market is expected to grow with a CAGR of 5.10% in the forecast period of 2022 to 2029.
“Increase in chronic disease cases boosts the market’s growth”
The increase in chronic disease cases is a significant factor driving the growth of the magnetic resonance imaging (MRI) pulse oximeters market. MRI pulse oximeters are essential devices used to monitor patients' oxygen levels during MRI procedures, especially in critical conditions. As chronic diseases, such as cardiovascular and respiratory disorders, become more prevalent, the demand for accurate and non-invasive monitoring tools such as pulse oximeters rises. This trend supports the expansion of the MRI pulse oximeters market to meet the growing healthcare needs worldwide.
What restraints the growth of the global magnetic resonance imaging (MRI) pulse oximeters market?
“High cost of MRI diagnostic equipment restraints the market’s growth”
The high cost of MRI diagnostic equipment acts as a restraint on the magnetic resonance imaging (MRI) pulse oximeters market growth. MRI machines are expensive to procure and maintain, leading to increased overall healthcare expenses. Consequently, healthcare facilities may face budget constraints, limiting their capacity to invest in additional equipment such as pulse oximeters. As a result, the adoption of MRI pulse oximeters might be restricted, hindering market growth despite their importance in enhancing patient safety during MRI procedures.
Segmentation: Global Magnetic Resonance Imaging (MRI) Pulse Oximeters Market
The global magnetic resonance imaging (MRI) pulse oximeters market is segmented on the basis of type, modality, end-users, and product.
- On the basis of type, the magnetic resonance imaging (MRI) pulse oximeters market is segmented into wired MRI pulse oximeters, wireless MRI pulse oximeters.
- On the basis of modality, the magnetic resonance imaging (MRI) pulse oximeters market is segmented into sensor with monitor, sensor without monitor.
- On the basis of end-users, the magnetic resonance imaging (MRI) pulse oximeters market is segmented into hospitals, diagnostic laboratories, and ambulatory surgical centers.
- On the basis of product, the magnetic resonance imaging (MRI) pulse oximeters market is segmented into fingertip pulse oximeters, hand- held pulse oximeters, and others.
Regional Insights: North America dominates the Global Magnetic Resonance Imaging (MRI) Pulse Oximeters Market
North America dominates the magnetic resonance imaging (MRI) pulse oximeters market in forecast period of 2022 to 2029 due to the presence of leading manufacturers and advancements in the medical industry are expected to enhance market growth in the region. With well-established companies and continuous innovations in medical technology, there is increased accessibility to cutting-edge medical devices such as RI pulse oximeters, driving their adoption and contributing to market expansion.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 owing to rising health awareness among people and the growing demand for advanced medical technology are driving factors in the market growth. With increased awareness of health and wellness, there is a greater emphasis on early detection and accurate monitoring, leading to a higher adoption of advanced medical devices such as MRI pulse oximeters to ensure better healthcare outcomes.
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The Prominent Key Players Operating in the Global Magnetic Resonance Imaging (MRI) Pulse Oximeters Market Include:
- Koninklijke Philips N.V. (Netherlands)
- EMCO Meditek Pvt. Ltd. (India)
- IRadimed Corporation (U.S.)
- MIPM - Mammendorfer Institut für Physik und Medizin GmbH (Germany)
- Hamilton Medical (Switzerland)
- General Electric (U.S.)
- Turner Medical. (U.S.)
- Welch Allyn (U.S.)
- Bio – X (Israel)
- Nihon Kohden Corporation (Japan)
- Spacelabs Healthcare (U.S.)
- CareFusion Corp (U.S.)
- Medtronic (Ireland)
- Masimo (U.S.)
- Nonin Medical (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global magnetic resonance imaging (MRI) pulse oximeters market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Magnetic Resonance Imaging (MRI) Pulse Oximeters Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
