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The global pulse oximeters market size valued at USD 1,587.3 Million in 2017 and is projected to reach USD 2,657.6 Million by 2025, exhibiting a CAGR of 6.7% in the forecast period (2018-2025).
A pulse oximeter is an electronic device which is widely used to monitor the amount of oxygen in the blood as well as to track the pulse rate. Certain conditions such as suffocation, choking, drowning, heart failures, sleep apnea, and allergic reaction are prominently responsible for hypoxemia, lowering of oxygen percentage in the blood. Moreover, undiagnosed or untreated hypoxemia may lead to shortness of breath, dizziness, rapid breathing, lack of coordination, and visual disorders. These products provide benefits such as offering valuable insights about oxygen saturation percentage, monitoring and alerting for lower oxygen levels in anesthesia condition, and observation of breathing activity of neonates under certain drugs. Increasing prevalence of heart conditions such as heart failure, chronic obstructive pulmonary disease, and others is expected to boost the pulse oximeters market growth by 2025.
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"Higher accuracy and precision of fingertip devices to fuel the global market growth"
Fingertip pulse oximeter is a type of oximeter in which the device is simply clipped to the fingers, and it measures the level of oxygen in the blood with the help of wavelength. Factors such as effective ergonomics, better precision, and minimal cost are expected to drive the growth of fingertip devices adoption by 2025. In January 2019, Masimo got FDA approval for its MightSat Rx finger pulse oximeter. The newly developed fingertip variant is capable of measuring oxygen saturation percentage, pulse rate, perfusion rate, and respiration rate of the patient. In 2017, tabletop oximeter held a significant share in the pulse oximeters market size. Since the benefits offered by fingertip types are high, it is projected to be the fastest-growing among product type segment during the forecast period. Tabletop oximeters held an estimated 42.2% share in the global market in 2017.
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Based on product type, the pulse oximeters market segments include fingertip oximeters, handheld oximeters, tabletop oximeters, and others. Based on end users, the market segments include hospitals, clinics & ambulatory surgery centers, home healthcare, and others. The hospitals in end user segment are expected to register comparatively higher share in the global market owing to the higher adoption and higher utilization of these devices in hospitals.
"Higher Adoption of Pulse Oximeters Enables Market to Hold Considerable Share in North America"
North America generated a pulse oximeters market share of USD 604.5 Mn in 2017 and is expected to dominate the market throughout the forecast period. Higher adoption of these devices and higher awareness amongst patients and caretakers are responsible for the higher share of North America in the global pulse oximeters Industry. Moreover, increasing prevalence of pulmonary disorders coupled with ease of availability of the product, is anticipated to offer a favorable environment for the growth of the market by 2025. The Asia Pacific holds significant potential for the growth during the forecast period. Certain factors such as increasing awareness about advanced healthcare technologies, increasing patient population and market penetration by emerging players are expected to play a major role in the increase of the pulse oximeters market share in the Asia Pacific. The market in Europe is projected to witness a comparatively higher CAGR owing to demand for advanced devices. The Middle East & Africa accounted for a smaller share in the global market in 2017.
North America Pulse Oximeters Market, 2017
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"Omron Healthcare, Inc. and Koninklijke Philips N.V to Account for the Maximum Market Share in Terms of Revenue"
Omron Healthcare, Inc. is one of the major players in the global market. Omron Healthcare Inc. is estimated to retain its position in the forecast duration owing to its diverse product portfolio and efficient customer reach. Moreover, strong research and development division of Omron Health Inc. is helping the company to innovate new concepts and to design products with maximum efficiency. This company, together with Koninklijke Philips N.V., currently holds maximum share in the global market. Other players operating in the market are GENERAL ELECTRIC COMPANY, Masimo, Messe Düsseldorf GmbH, VYAIRE, Opto Circuits (India) Limited, Medtronic, Omron Healthcare, Inc., Nonin, and B Smiths Group plc.
The oxygen blood level is the amount of oxygen present in the cells. Most of the oxygen is actively transported by red cells and supplied to all parts of the body. Pulse oximeters enable measuring of these oxygen levels with the help of wavelengths. The rapidly increasing prevalence of cardiac conditions, as well as Hypoxemia across the globe, is expected to boost the growth of the global market during the forecast period.
The pulse oximeters market report provides qualitative and quantitative insights on the pulse oximeters industry trends and detailed analysis of market size and growth rate for all possible segments in the market. The market is segmented by product type, by end user, and by region. On the basis of the product, the market is segmented into fingertip pulse oximeters, tabletop pulse oximeters, handheld pulse oximeters, and others. Various end users covered under the report are hospitals, clinics & ambulatory surgery centers, home healthcare, and others. Geographically, the market is segmented into four major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further categorized into countries.
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Along with this, the report analysis includes market dynamics and competitive landscape. Various key insights provided in the report are Recent Industry Developments- Partnerships, Mergers, and Acquisitions, Technological Advancements in the Market, and New Product Launch by Key players, and Key Industry Trends.
By Product Type
· Fingertip Oximeters
· Handheld Oximeters
· Tabletop Oximeters
By End User
· Ambulatory Surgery Centers and Clinics
· Home Healthcare
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico, and Rest of Latin America)
· Middle East & Africa (GCC, South Africa, and Rest of Middle East & Africa)
Fortune Business Insights says that the value of the global Pulse Oximeters Market was USD 1,587.3 Million in 2017.
The Pulse Oximeters Market is projected to reach USD 2,657.6 Million by 2025.
The Pulse Oximeters Market will grow at the rate of 6.7% CAGR.
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