Pulse Oximeters–Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3843
Pulse Oximeters Market size is projected to experience significant growth from 2019 to 2025.
Growing incidence of chronic diseases such as chronic obstructive pulmonary disease (COPD), asthma, sleep apnea, cardiovascular diseases, and other ischemic conditions will positively impact pulse oximeters industry growth during the forecast period. According to the Centers for Disease Control and Prevention (CDC), in the U.S., about 1,40,000 individuals die from stroke every year. Also, about 87% of all strokes are ischemic strokes, as a result of restricted blood flow to the brain. Thus, increasing incidence of ischemic conditions will create significant demand for pulse oximeters in the estimation period.
Growing customer preference towards advanced technologies for oxygen saturation monitoring solutions will stimulate the global pulse oximeters market growth in the upcoming years. High growth is due to rise in demand for such devices due to greater efficiency, ease-of-use, and cost-effectivity. Also, in May 2017, Oxitone Medical received the U.S. FDA approval for wrist-worn pulse oximeter, a consumer-friendly and comfortable device that monitor patient’s blood oxygen saturation level more naturally during everyday activities. Thus, product approvals for advanced solutions will escalate the adoption of pulse oximeters over the projected timeframe.
However, high cost coupled with limited reimbursement for pulse oximeters may restrain the product demand. Moreover, lack of awareness about oxygen monitoring solutions in developing and underdeveloped economies will hinder the pulse oximeters market growth in the forthcoming years.
Fingertip pulse oximeters segment will hold a significant revenue size over the forecast years due to its extensive features such as easy transfer of data and wide memory storage capacities. These devices are battery-operated and non-invasive, thereby making a preferred option for patients, especially for infants and neonates. Furthermore, increasing awareness regarding early detection and management of chronic diseases will augment the demand for fingertip pulse oximeters in the coming years.
Homecare segment will show momentous growth over the projected timeframe due to rising prevalence of chronic diseases coupled with growing awareness about oxygen monitoring procedures during emergency conditions. Advanced technological aspects including portability along with addition of comfort features during monitoring and user-friendliness will further drive the segmental growth. Moreover, growing inclination of patients towards non-invasive monitoring devices due to its accuracy and convenience will accelerate the segmental growth during the forecast period.
U.S. pulse oximeters market is estimated to witness lucrative growth over the forecast period owing to increasing adoption of advanced oxygen monitoring solutions and sophisticated healthcare infrastructure. Rising obese population with high susceptibility to suffer from various chronic diseases that require oxygen detection will enhance the market growth. Moreover, rising healthcare expenditure to develop innovative products, and introduction of smart pulse oximeters with high efficacy features will augment U.S. pulse oximeters industry growth.
India pulse oximeters market is estimated to witness lucrative growth over the forecast period due to the increasing prevalence of chronic diseases coupled with growing geriatric population base. Robust growth can be attributed to government guidelines, that mandate pulse oximetry during surgery. As per the Indian Society of Anaesthesiologists’ recommendations, pulse oximetry procedure is necessary for detection of both, saturation and heart rate. Furthermore, rising government investment. Assisting in R&D activities for disease monitoring will accelerate India market growth.
Few of the major players operating in the global pulse oximeters market share include Koninklijke Philips N.V., General Electric Company, Smiths Medical, Nonin and Masimo among other players. These industry players implement various strategies such as mergers & acquisitions, partnerships, and new product launch to enhance profitability and company growth. For instance, in August 2018, Koninklijke Philips N.V. acquired Xhale Assurance, a leading producer of disposable pulse oximetry sensor that is used to monitor heart rate and blood oxygenation under low perfusion conditions. The strategy aimed at expanding the company’s existing oxygen saturation monitoring solutions portfolio.
Pulse Oximeters Market By Product, 2014-2025 (USD Million)
- Handheld Pulse Oximeters
- Fingertip Pulse Oximeters
- Bedside/Desktop Pulse Oximeters
- Wrist-worn Pulse Oximeters
- Pediatric Pulse Oximeters
Pulse Oximeters Market By End-Use, 2014-2025 (USD Million)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Acare Technology Co., Ltd.
- Delta Electronics, Inc.
- Edan Instruments, Inc.
- General Electric Company
- General Meditech, Inc.
- Heal Force
- Koninklijke Philips N.V.
- Medzone Healthcare
- Omron Corporation
- Shanxi Jerry Medical Instrument Co., Ltd.
- Shenzhen Creative Industry Co., Ltd.
- Smiths Medical
- Solaris Medical Technology, Inc.
- Yu Yue medical
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