Global Pulse Oximeters Market, By Type (Fingertip, Handheld, Wrist-Worn, Table-Top, Earlobe, Forehead, Palm/Foot, Nose, Others), Sensor Type (Reusable, Disposable), Patient Type (Neonatal, Pediatric, Adult), End- User (Hospitals and Other Healthcare Facilities, Diagnostic Centers, Homecare), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights Global Pulse Oximeters Market
Data Bridge Market Research analyses that the pulse oximeters market to be grow at a CAGR of 7.9% in the forecast period of 2022-2029 and is likely to reach the USD 3.94 billion by 2029.
A pulse oximeter is a medical gadget that measures the amount of oxygen in a patient's blood. It is a little clip-like device that is externally connected to an individual's finger, toe, or earlobe to detect the timing and amounts of oxygen deficiency. It is often used in hospital wards to measure pulse during surgical procedures, emergencies, treatments, and recovery. The device uses a cold light source to estimate the percentage of oxygen in red blood cells by transmitting light through the point of contact and analyzing the amount of light that can pass to reach the other end.
The rise in the prevalence of congenital heart disease (CHD) amongst pediatric age group and high adoption rate of oximeters during COVID-19 pandemic will act as major drivers accelerating the pulse oximeters market’s growth rate. The surging number of surgical procedures and hospitalizations will increase the demand for pulse oximeters and further propel the market’s growth rate. Another significant factor resulting in the expansion of market is the upsurge in the number of geriatric population. Furthermore, surging healthcare expenditure and technological advancement are the major drivers that will enhance the growth of market. Likewise, rise in the incidences of chronic diseases will show positive impact on the market’s growth rate. Rapid urbanisation, changing lifestyle and rise in the level of disposable incomes in developing and developed countries will influence the growth rate of pulse oximeters market. The rise in the prevalence of respiratory diseases will flourish the growth rate of pulse oximeters market. Increase in the level of investment for improving healthcare infrastructure and outbreak of communicable diseases affecting respiratory system will enhance the growth rate of pulse oximeters market. The addition of oximeters with artificial intelligence and the introduction of variants which are compatible with Apple and Android operating systems for the maintenance of electronic medical records (EMR) will propel the market’s growth.
Moreover, the rise in the demand for patient monitoring in non-hospital settings and increase in the adoption rate of telemedicine will provide beneficial opportunities for the pulse oximeters market growth. Additionally, increasing demand for non-invasive devices and various increasing opportunities in point-of-care testing will further expand the pulse oximeters market’s growth rate in the future.
On the other hand, high cost of pulse oximeter and poor healthcare infrastructure in underdeveloped regions will obstruct the market growth. Also, regulations and accuracy concerns over OTC pulse oximeters and availability of alternative devices for oximetry will challenge the pulse oximeters market. However, rising pressure on new players owing to technological advancement by major market players and less awareness about these devices in low-and middle-income countries will act as restrain and further impede the growth rate of market.
This pulse oximeters market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on pulse oximeters market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Pulse Oximeters Market Scope and Market Size
The pulse oximeters market is segmented on the basis of type, sensor type, patient type and end- users. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of type, the pulse oximeters are segmented into fingertip, wrist- worn, table top, earlobe, palm/foot, nose and other.
- The sensor type segment of the pulse oximeters market is segmented into reusable and disposable.
- The patient type segment of the pulse oximeters market is segmented into neonatal, pediatric and adult.
- On the basis of end- users, the pulse oximeters market is segmented into hospitals and other healthcare facilities, diagnostic centers and homecare.
Pulse Oximeters Market Country Level Analysis
The pulse oximeters market is segmented on the basis of type, sensor type, patient type and end- users.
The countries covered in the pulse oximeters market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the pulse oximeters market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the presence of major key players and growing demand for technologically advanced products in this region. Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period due to the growing awareness about the patient safety during anaesthesia and surgery in this region.
The country section of the pulse oximeters market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The pulse oximeters market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for pulse oximeters market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the pulse oximeters market. The data is available for historic period 2010 to 2020.
Competitive Landscape and Global Pulse Oximeters Market Share Analysis
The pulse oximeters market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to pulse oximeters market.
Some of the major players operating in the pulse oximeters market are Medtronic, BD, General Electric Company, Koninklijke Philips N.V., Masimo, Nonin, Smiths Medical, Welch Allyn, Spacelabs Healthcare, EDAN Instruments, Inc., Meditech Equipment Co.,Ltd, NIHON KOHDEN CORPORATION., VYAIRE, Drägerwerk AG & Co. KGaA, Edan Instruments, Inc., Korrida Medical Systems, Honeywell International Inc., Beurer GmbH, and Tenko Medical System Corp., among others.
In January 2021, Tyto Care had launched its US Food and Drug Administration (FDA)-cleared fingertip pulse oximeter (SpO2) medical device for measuring blood oxygen saturation levels and heart rate. A cable links the Pulse Oximeter to the Tyto Care device. By inserting their finger in the SpO2 gadget for 15 seconds, users can do a blood oxygen test.