Pulse Oximeters Market Trends Share and Product Value Forecast To 2025
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<strong>Pulse</strong> <strong>Oximeters</strong> <strong>Market</strong> <strong>Trends</strong> | <strong>Share</strong> <strong>and</strong> <strong>Product</strong> <strong>Value</strong> |<br />
<strong>Forecast</strong> <strong>To</strong> <strong>2025</strong><br />
“Global <strong>Pulse</strong> <strong>Oximeters</strong> <strong>Market</strong> report includes in-depth analysis of industry<br />
by recent technologies, trends, opportunities, challenges, key players <strong>and</strong><br />
business strategies considering types, segment <strong>and</strong> future outlook.”<br />
The global pulse oximeters market size was worth USD 1.5 billion in 2015 which is anticipated<br />
to grow at a CAGR of more than 6.1% during the forecast period. The crucial application of the<br />
pulse oximeters in patient monitoring is responsible for its growth. Moreover, its use in<br />
anesthesia monitoring <strong>and</strong> safety have greatly reduced anesthesia-related deaths, which further<br />
contributes to the market potential.<br />
Surgical safety has been a major concern <strong>and</strong> so its provision is a priority worldwide. Global<br />
initiatives such as the WHO Surgical Safety Checklist, which was created in 2008 as an outcome<br />
of 2007 WHO Safe Surgery Saves Lives program, aims in the application of minimum safety<br />
st<strong>and</strong>ards across hospitals in all countries. <strong>Pulse</strong> oximeter, being an essential monitoring device<br />
in surgical treatments, is largely affected by such global initiatives that influence its dem<strong>and</strong> <strong>and</strong><br />
are likely to trigger the market growth.<br />
Modernization has boosted accessibility with the technological advancements in the cell phones<br />
operating systems. In 2014, a company named Masimo launched iSpO2 pulse oximeter, which<br />
is supported by the Android devices, facilitating ease of use <strong>and</strong> monitoring.<br />
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Type Insights<br />
The segmentation based on the type of devices is h<strong>and</strong>held, fingertip, <strong>and</strong> others. In 2016, the<br />
h<strong>and</strong>held oximeter devices dominated the market owing to the ease of use of the device in the<br />
case of emergency. The oxygen saturation of a patient highly affects the course of treatment to<br />
be undertaken. Rising number of emergency cases of strokes <strong>and</strong> surgeries is anticipated to<br />
augment the market over the forecast period.<br />
With the growing preference towards portable technology due to its feasibility in use, fingertip<br />
pulse oximeter segment is gaining prominence in the pediatric treatment procedures <strong>and</strong> so are<br />
expected to show significant market growth over the forecasted period. The fingertip pulse<br />
oximeters can withst<strong>and</strong> varying storage conditions <strong>and</strong> thus is preferred.<br />
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https://www.millioninsights.com/industry-reports/pulse-oximeters-market<br />
Other types of oximeters include st<strong>and</strong>-alone units that have provisions to monitor parameters<br />
such as blood pressure <strong>and</strong> ECG. Lack of sufficient operative room facilities in most of the<br />
developing countries, as per the findings of WHO, initiatives are taken to increase the operative<br />
room facilities where each room is equipped with at least one st<strong>and</strong>-alone monitoring units that<br />
would help in increasing the penetration of the devices.<br />
End User Insights<br />
The conventional use of pulse oximeters is done in hospitals pre <strong>and</strong> post surgeries. It is also<br />
used during surgeries when the patient is anesthetized. The rising number of surgeries <strong>and</strong><br />
emphasis on patient safety are responsible for the increased use of pulse oximeters during every<br />
procedure. These devices are once purchased <strong>and</strong> require servicing <strong>and</strong> are not replaced<br />
frequently. The use of pulse oximeters in newborn screening also adds to the number of devices<br />
procured by the hospitals in their maternity <strong>and</strong> pediatric care divisions.<br />
However, there is an upward trend of use of pulse oximeters in homecare settings due to the<br />
expansion of the homecare market. Hospices <strong>and</strong> even nursing care centers are procuring<br />
oximeters to provide better care to their customers.<br />
Regional Insights
The inequality in the distribution of the healthcare facilities worldwide is very significant. For<br />
instance, North America has low burden of diseases but high presence of healthcare workers<br />
<strong>and</strong> finances. Moreover, strong technological base, availability, <strong>and</strong> adaptability of the recent<br />
advances in technology makes North America dominate the market. However, African region<br />
has high burden of the diseases but low presence of healthcare workers <strong>and</strong> finances, thus,<br />
although a potential market, low awareness <strong>and</strong> affordability hinder the development of pulse<br />
oximeter market in African region.<br />
Asia Pacific is anticipated to show fast growth over the forecasted period owing to the moderate<br />
burden of global disorders <strong>and</strong> high adoption of modernization <strong>and</strong> developing technology,<br />
realizing the need of better healthcare facilities <strong>and</strong> early detection of disorders through<br />
increased use of monitoring devices such as the pulse oximeters.<br />
Competitive Insights<br />
With the trend of customized facilities, some companies are working toward developing devices<br />
that are supported by the cell phones operating systems, facilitating flexible, wireless <strong>and</strong> easy<br />
monitoring. For instance, Masimo’s iSpO2 <strong>and</strong> Zensorium’s Tinke are the oximeter devices that<br />
are compatible with iPhones, thus providing the iPhone users with the benefits of the new<br />
technology. Such innovations are likely to attract the population <strong>and</strong> widen the market size.<br />
<strong>Market</strong> Segment:<br />
Type Outlook (<strong>Market</strong> Revenue in USD Million, 2013 - <strong>2025</strong>)<br />
• Fingertip pulse oximeters<br />
• H<strong>and</strong>held pulse oximeters<br />
• Others<br />
End-Users Outlook (<strong>Market</strong> Revenue in USD Million, 2013 - <strong>2025</strong>)<br />
• Hospitals <strong>and</strong> other healthcare facilities<br />
• Homecare<br />
Regional Outlook (<strong>Market</strong> Revenue in USD Million, 2013 - <strong>2025</strong>)<br />
• North America<br />
• U.S.<br />
• Canada
• Europe<br />
• UK<br />
• Germany<br />
• Asia Pacific<br />
• Japan<br />
• China<br />
• Latin America<br />
• Brazil<br />
• Mexico<br />
• Middle East <strong>and</strong> Africa<br />
• South Africa<br />
See More Reports of this Category by Million Insights @<br />
https://www.millioninsights.com/industry/medical-devices<br />
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