Pulse oximeters have evolved as an integral device in evaluation of a patient’s oxygen status and are utilized in various departments within healthcare field.
INDORE, MADHYA PRADESH, INDIA, June 2, 2021 /EINPresswire.com/ — Global Pulse Oximeter Market is valued at approximately USD 2.298 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 7.15% over the forecast period 2020-2027. Pulse oximeters have evolved as an integral device in the evaluation of a patient’s oxygenation status and are therefore utilized widely in numerous departments within healthcare settings. It is a sort of a non-invasive test that determine the oxygen saturation level, or the level of oxygen in the patient’s blood. Peripheral oxygen saturation (SpO2) interpretations are generally within 2% accuracy (within 4% precision in the worst 5% cases) of the desirable (and invasive) scanning of arterial oxygen saturation (SaO2) from arterial blood gas analysis. However, the two are linked well sufficient that the safe, non-invasive, inexpensive, and convenient pulse oximetry method is useful for determining oxygen saturation in clinical use. Also, this technique is considered to be as easy, painless amount of oxygen transmission to parts of the patient’s body furthest from the heart, such as the arms and legs. As a result, it is a promising technology for determining the effects of oxygen saturation level, which can contribute significantly towards the higher growth of the pulse oximeter market. Moreover, a pulse oximeter can often measure blood oxygen saturation with the help of wavelengths, thereby reducing the risk of cardiovascular diseases. Therefore, the rising prevalence of cardiac diseases, such as heart strokes on account of the increase in the geriatric population, along with technological developments in pulse oximetry devices are the few factors responsible for the high CAGR of the market during the forecast period. According to the World Health Organization (WHO), cardiovascular disease (CVD) remains a leading cause of death and disability globally, with nearly 17.6 million died due to CVD in 2016. Also, the burden of cardiovascular diseases is expected to reach almost 23.6 million by the year 2030. This, in turn, is likely to strengthen the demand for pulse oximeter, thereby contributing to the market growth around the world. However, that high cost of pulse oximeters, along with the frequent recall of the products are the few factors restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the global Pulse Oximeter market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to increasing awareness associated with the monitoring of respiratory conditions, along with the presence of large number of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in incidence of cardiovascular diseases and severe respiratory disorder, coupled with improving healthcare infrastructure and economic development in the developing nations, such as China and India, are the few factors creating a lucrative opportunity for the growth of the pulse oximeter market in the Asia-Pacific region.
Major market player included in this report are:
CareFusion Corp (Vyaire)
Koninklijke Philips NV
CASMED (Edwards Lifesciences Corporation.)
Opto Circuits India Ltd.
Nonin Medical, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Fingertip Pulse Oximeter
Handheld Pulse Oximeter
Hospitals & Clinics
Home Care Settings
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Pulse Oximeter Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers