The global pulse oximeters market reached grew at a CAGR of around 6% during 2014-2019. A pulse oximeter refers to a medical device that is used to monitor the oxygen levels in the patient’s blood. It is a small clip-like device that is externally attached to the individual’s finger, toe or earlobe to detect the timing and levels when the oxygen drops below the adequate levels. It is commonly used for monitoring pulse during surgical procedures, emergencies, treatments and recovery in hospital wards. The device determines the percentage of oxygen in the red blood cells by using a cold light source that transmits light through the point of contact and analyzes the amount of light that can pass to reach the other end.
The increasing prevalence of chronic medical ailments, along with the rising geriatric population across the globe, is one of the key factors driving the growth of the market. Furthermore, growing preference for non-invasive medical devices and procedures by both patients and healthcare providers is also providing a boost to the market growth. The widespread adoption of portable and wearable oximeter variants, especially among chronic obstructive pulmonary disease (COPD) patients, is contributing to the product demand. Additionally, various technological advancements, including the improvements in microprocessor technology, light-emitting diodes and photoelectric sensors for enhanced accuracy and reliability of pulse oximeters, are acting as another growth-inducing factor. Other factors, including rising healthcare expenditures, the integration of oximeters with artificial intelligence (AI) and the advent of variants that are compatible with Android and Apple operating systems for maintaining electronic medical records (EMR), are projected to drive the market further. Looking forward, IMARC Group expects the global pulse oximeters market to witness moderate growth during the next five years.
Breakup by Type:
Breakup by Sensor Type:
Breakup by End-Use:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being CAS Medical Systems Inc. (Edward Lifesciences), Contec Medical Systems Co. Ltd., Koninklijke Philips NV, Masimo, Medtronic Plc, Nonin Medical Inc., Opto Circuits, Smiths Medical, Inc., Spacelabs Healthcare (OSI Systems), Welch Allyn (Hill-Rom), etc.
Key Questions Answered in This Report:
The global pulse oximeter market was worth around US$ 1.34 Billion in 2019.
The market for pulse oximeter is catalyzed by the sudden outbreak of the COVID-19 as there is an increasing demand for continuous monitoring of the respiratory parameters of the patients suffering from the coronavirus disease.
According to the estimates by IMARC Group, the global pulse oximeter market will exhibit moderate growth during the next five years.
The high prevalence of chronic ailments, along with the rising geriatric population across the globe, is primarily driving the growth of pulse oximeter market.
The rapid integration of oximeters with artificial intelligence (AI) and the advent of advanced oximeters providing high compatibility with smart devices for maintaining electronic medical records (EMR), are some of the key trends in the global pulse oximeter market.
On the basis of the type, the market has been bifurcated into fingertip, handheld, wrist-worn and others, where handheld pulse oximeter currently accounts for the highest market share.
On the basis of the sensor type, the market has been bifurcated into reusable and disposable, where reusable sensors currently account for the highest market share.
Based on the patient type, the market has been segmented into neonatal, pediatric, and adult patients.
Based on the end use, the market has been segmented into hospitals and clinics, ambulatory surgery centers, home healthcare, and others, where hospitals and clinics currently account for the highest market share.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America currently accounts for the highest market share.
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