The global pulse oximeter market is accounted for more than US$ 1.9 Bn in 2019
Meridian Market Consultants (MMC) has published a new report titled, “2020-2025 Global and Regional Pulse Oximeters Industry Production, Sales and Consumption Status and Prospects Professional Market Research Report (Enhanced Version)”
Global Pulse Oximeter Market, By Product Type (Fingertip Oximeters, Handheld Oximeters, Tabletop Oximeters, Others), By End-User (Hospitals, Clinics & Ambulatory Surgery Centers, Home Healthcare, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2025.
In terms of value, the global pulse oximeter market is accounted for more than US$ 1.9 Bn in the year 2019, and expected to grow at a CAGR of 6.9% during the forecast period and expected to reach to the value of US$ XXX Bn in 2025.
As per the report, the rising prevalence of diseases among the population across the globe that requires continuous monitoring is majorly contributing to the growth of the global pulse oximeter market. Basically, a non-invasive device used for tracking oxygen saturation of a person is known as pulse oximeter market.
The device displays the proportion of blood which is loaded with oxygen, when placed at the thin of the skin, usually fingertip or earlobe in adults and across the foot in infants. The device measures the quantity of a protein in blood which carries oxygen, called hemoglobin, present in blood.
The device is considered convenient for measuring hemoglobin in blood as it is a non-invasive medical device and much easier to use. Owing to which, the pulse oximeter is having a huge demand in hospitals, clinics as well as homes across the world, thereby it is expected to boost the growth of the global pulse oximeter market. One of the crucial factors expected to drive the growth of the pulse oximeter market is the increase in the stress level in patient’s safety in the course of anesthesia.
Moreover, some of the major factors such as rise in aging population, huge shift of population towards home monitoring, growing incidence of chronic diseases, such as obesity, cardiovascular disorders, and growth in understanding among patients with regards to advanced Pulse Oximeters are also projected to augment the growth of the global Pulse Oximeter Market during the forecast period.
Furthermore, the technological advancement in design and development of pulse oximeters by key manufacturers across the world is also expected to give a positive push to the growth of the global Pulse Oximeter Market as Market players are introducing devices that are more compact, portable, easy to use, accurate, and efficient.
For instance, FDA gave clearance to Masimo for its first tether less SET pulse oximeter, Radius PPG, in May 2019. However, inadequacy of knowledge about these devices in low and middle-income economies across the world is expected to hinder the growth of the global pulse oximeter market.
MMC Study identifies some of the key participating players in the Pulse Oximeter Market globally are Contec Medical Systems Co., Ltd., General Electric Company, Halma plc, Koninklijke Philips N.V., Masimo Corporation, Medtronic plc, Nihon Kohden Corporation, Nonin Medical, Inc., Omron Corporation, and Smiths Group plc, among others.
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