Dublin, Nov. 25, 2020 (GLOBE NEWSWIRE) -- The "Pulse Oximeters Market Size, Share & Trends Analysis Report by Type (Fingertip, Handheld), by End Use (Hospitals & Healthcare Facilities, Homecare), by Region (North America, Europe, APAC, LATAM, MEA), and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global pulse oximeters market size is expected to reach USD 3.2 billion by 2027, expanding at a CAGR of 6.4%
Technological advancement in design and development of pulse oximeter is expected to boost market growth during the forecast period. Market players are introducing devices that are more compact, portable, ease to use, accurate, and efficient. For instance, in May 2019, Masimo received FDA clearance for its first tetherless SET pulse oximeter, Radius PPG.
Oxygen saturation monitors are conventionally used in pre and postsurgical settings. They are used during surgeries when patients are anesthetized. Increase in number of surgeries being performed and focus on patient safety are among the key factors responsible for increased use of the medical device during most procedures.
These devices are purchased once and require servicing, without the need for frequent replacement. The use of oxygen saturation monitors in newborn screening can boost the demand and procurement of these devices by hospitals for maternity and pediatric care divisions.
Pulse Oximeters Market Report Highlights
- The sale of fingertip pulse oximeters has witnessed a significant spike since the first week of March 2020 due to COVID-19 pandemic
- Handheld pulse oximeters are expected to be in high demand during the COVID-19 pandemic, as these devices are more accurate and come with probes that can be used for individual patients to limit spread of the virus
- There is an upward trend in the use of oxygen saturation monitors in homecare settings due to expansion of the homecare market. Hospices and nursing care centers are procuring the medical device to provide better care to their patients
- North America held the largest share in the market in 2019. Demand for oxygen saturation monitors is increasing in U.S. and Canada due to high prevalence of Congenital Heart Diseases (CHD) in infants
- in the Asia Pacific, the market is anticipated to witness significant growth during the forecast period. In countries such as Australia and New Zealand, oxygen saturation monitors are part of the standard patient observation procedures in hospitals and clinics. The device plays a vital role in monitoring and treatment of respiratory diseases in newborns and adults, as it provides independent information for a more comprehensive respiratory assessment
- The industry is also witnessing mergers, acquisitions, and licensing agreements. For instance in April 2019, Philips Respironics moved the rights for direct sales of pulse oximeter in homecare market to Nonin Medical, an OEM manufacturer.
Key Topics Covered:
Chapter 1 Research Scope
Chapter 2 Research Methodology
2.1 Research Methodology
2.2 Information or Data Analysis
2.3 Market Formulation & Validation
2.4 Model Details
2.5 List of Secondary Sources
2.6 List of Abbreviations
Chapter 3 Executive Summary
3.1 Market Outlook
3.2 Segment Outlook
3.2.1 End-use
3.2.2 Type
3.3 Competitive Insights
Chapter 4 Market Variables, Trends & Scope
4.1 Market Dynamics
4.1.1 Market Driver Analysis
4.1.1.1 Growing healthcare costs and readmission limbo
4.1.1.2 Increasing prevalence of target diseases
4.1.1.3 Growing importance of patient monitoring in diagnosis and treatment regime
4.1.1.4 High unmet need in developing and least developed economies
4.1.1.5 Rising awareness regarding use of pulse oximeters for COVID-19 patients
4.1.2 Market Restraint Analysis
4.1.2.1 Increasing price erosion
4.1.2.2 Lack of training
4.1.2.3 Presence of non - penetrated markets
4.1.2.4 Frequent recalls of the products
4.2 Penetration & Growth Prospect Mapping
4.3 Business Environment Analysis tools
4.3.1 SWOT Analysis, by PESTL
4.3.2 Porter's Five Forces Analysis
4.4 Pulse Oximeters Market Competitive Landscape: Market Position Analysis
4.5 Clinical Trials: Pulse Oximeters Market
Chapter 5 Pulse Oximeters Market: End-use Analysis
5.1 Pulse Oximeters Market: End Use Movement Analysis
5.1.1 Hospitals and Other Healthcare Facilities
5.1.2 Homecare
Chapter 6 Pulse Oximeters Market: Type Analysis
6.1 Pulse Oximeters Market: Type Movement Analysis
6.1.1 Fingertip Pulse Oximeters
6.1.2 Handheld Pulse Oximeters
6.1.3 Others
Chapter 7 Regional Outlook
7.1 Pulse Oximeters Market Share by Region, 2019 & 2027
Chapter 8 Competitive Analysis
8.1 Recent Developments & Impact Analysis, by Key Market Participants
8.2 Company Profiles
8.2.1 Company overview
8.2.2 Financial performance
8.2.3 Product benchmarking
8.2.4 Strategic initiatives
- Covidien (Medtronic)
- CareFusion Corp (Vyaire)
- GE Healthcare
- Koninklijke Philips NV
- Masimo
- CASMED (Edwards Lifesciences Corporation.)
- Opto Circuits India Ltd.
- Nonin Medical, Inc.
- Smiths Medical
- Welch Allyn
- Spacelabs Healthcare
- Zensorium
- Meditech Equipment Co., Ltd.
- NIHON KOHDEN CORPORATION
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