- Pulse Oximeter Market Size – USD 2,180.9 million in 2019, Pulse Oximeter Market Growth - CAGR of 7.1%, Pulse Oximeter Industry Trends – Prevalence of Congenital Heart Disease (CHD) and Chronic Obstructive Pulmonary Disease (COPD), potential investment opportunities and technological advancements.
- Technological progress in pulse oximeter devices, prevalence of neonatal conditions with favorable reimbursement scenarios are expected to fuel the market growth
VANCOUVER, B.C., Sept. 15, 2020 /PRNewswire/ -- The global pulse oximeter market is expected to reach USD 3,534.4 Billion by 2027, according to a new report by Emergen Research. Rising consciousness regarding severity and growing incidence of neonatal conditions along with awareness about patient monitoring is anticipated to boost the pulse oximeter sales in the forecast period. The increasing frequency of hypertension, asthma, chronic obstructive pulmonary disease (COPD), diabetes, sleep apnea, and cardiac arrhythmia, among other diseases, contribute to the growth prospects of pulse oximeter market.
Tests related to pulse oximetry are painless, non-invasive, and enable rapid detection of oxygen saturation levels in the body. These gainful features are anticipated to drive the industry demand for pulse oximeters over the forecast period. Besides, the outbreak of novel coronavirus has led to frequent monitoring of respiratory conditions in infected patients. The integration of artificial intelligence in pulse oximeters is set to raise the demand for target medical devices.
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Key Highlights From The Report
- The probe in hand-held oximeters is replaced easily; thus, the device is proficient and advanced as compared to other associated devices. Due to such favorable features, the hand-held products segment accounted for the largest market share of 56.7% in 2019 and is anticipated to exhibit lucrative growth during the forecast period
- Protonic Medical Systems launched a pulse oximeter in July 2020, named, POM-600, which is also approved with CE mark is used for monitoring the amount of oxygen carried in the body.
- Due to expedient features like continuous monitoring and rapid detection of oxygen levels in the body, the reusable oximeters segment accounted for the largest market share of around 56.7% in 2019 and is expected to grow extensively through the forecast period.
- In December 2019, Masimo's Neonatal RD Set Pulse oximetry sensors got clearance from the US Food and Drug Administration (FDA). The clearance was received for improved oxygen saturation (SpO2) accuracy specifications for neonatal patients.
- Key market companies studied and profiled for this research include GE Healthcare, Philips Healthcare, Medtronic, CAS Medical Systems, Masimo, Nonin Medical, Smiths Medical, Welch Allyn, Spacelabs Healthcare and Meditech Equipment among other companies.
- North America accounted for largest market share in the pulse oximeter market in 2019, chiefly owing to expanding geriatric population, better healthcare infrastructure and technological advancements in oximeters among other favorable driving factors.
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Emergen Research have segmented the global Pulse Oximeter Market on the basis of product, sensor type, end-uses, and region:
Product Outlook (Revenue in Million USD; 2017–2027)
Sensor Type Outlook (Revenue in Million USD; 2017–2027)
End User Outlook (Revenue in Million USD; 2017–2027)
- Healthcare & Diagnostic Centers
- Home Care
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of the Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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