Dublin, Aug. 24, 2021 (GLOBE NEWSWIRE) -- The "Global Pulse Oximeter Market Outlook, 2026" report has been added to ResearchAndMarkets.com's offering.
The report categorizes the market to forecast the revenues and analyze the trends in each of the following segments: based on product type (Fingertip, Handheld & Others), based on end-users (Hospital and Health Care Facilities & Home Care), based on region, countries & major companies. The Pulse Oximeter market has been revamped considering the Covid-19 impact.
The growing prevalence of breathing disorders and diseases like asthma, hyperlipidemia, hypertension, diabetes, ischemic conditions, cardiac arrhythmia, sleep apnea, COPD, etc. have been a major market driver for the Pulse Oximeter industry, allowing it to reach a value of USD 1.65 Billion in 2015. A high-quality Pulse Oximeter is critical for the early diagnosis and treatment of patients with Covid-19. Even though the manufacturing & supply chain of the industry suffered challenges due to the pandemic restrictions, the manufactures ensured an adequate supply to the countries in dire need. The market is expected to witness a growth of over 7% CAGR in the forecasted period.
Majorly divided into two types, the handheld segment dominates the market with over half of the share, yet declining in the coming years. The market is driven by a fact that these products are user-friendly and are easy to use in emergency cases. A rise in the number of stroke cases and surgeries is anticipated to boost market growth over the forecast period. The market shift is a result of technological advancements such as easy transfer of data, extensive memory, alarm system, and Bluetooth feature. Through the forecasted period, the fingertip segment is to grow with a CAGR of over 10%, recording the highest growth.
The hospitals & health care centers holds a clear dominance in the Pulse Oximeter market accounting closely to 90% in the year 2020. It is due to an increase in the number of surgeries and emergency room visits across the world. The Covid-19 pandemic has restricted the visits to medical facilities hindering medical care services, giving a hike in the homecare segment. With the increasing awareness of self-monitoring, people are now actively participating in health management from their homes themselves, augmenting the demand for such monitoring devices. The home care segment is expected to demonstrate growth of 15.42% in the coming years.
North America dominated the market, holding to a share of less than 35% in 2020, owing to increasing awareness of respiratory vitals monitoring among the common population. Recent changes in regulatory norms in Europe, which is the second-largest market, are expected to affect all medical device manufacturers. Although the Asia Pacific has a slightly declining birth rate, the number of infants born every day is considerably large. This results in a large target population for CHD. Latin America, along with the Middle East & Africa could hardly contribute to a market share of 15% by the end of the forecasted period.
According to the WHO, around 64 million patients are currently living with COPD worldwide with approximately 90% of deaths due to COPD occurring in low- and middle-income countries. The global market is led by the US, where around 43 states have made pulse oximetry mandatory for newborn screening. Following this, China & Germany contributes to over 12.86% in the year 2020. Other major countries are becoming a popular market for the product due to applications in the detection of Congenital Heart Defects and other heart and respiratory conditions.
Key industry players are undertaking other major initiatives, such as licensing agreements and strategic partnerships, to strengthen their market presence.
Report Scope:
- Market Size by Value for the period (2015-2026F)
- Market Share by Product type (Fingertip, Handheld & Others)
- Market Share by End User (Hospital and Health Care Facilities & Home Care)
- Market Share by Region
- Market Share by Country
- Market Share by Company
Key Topics Covered:
1. Executive Summary
2. Report Methodology
3. Global Pulse Oximeter Market Outlook
4. North America Pulse Oximeter Market Outlook
5. Europe Pulse Oximeter Market Outlook
6. Asia-Pacific Pulse Oximeter Market Outlook
7. Latin America Pulse Oximeter Market Outlook
8. Middle East & Africa Pulse Oximeter Market Outlook
9. Market Dynamics
10. Market Trends and Developments
11. Company Profiles
11.1. Beckton Dickinson
11.2. CASMED (Edwards Lifesciences Corporation)
11.3. Drager Medical Systems Inc.
11.4. GE Healthcare
11.5. Covidien (Medtroni PLCc)
11.6. Masimo
11.7. Koninklijke Philips NV
11.8. Meditech
11.9. Nihon Kohden Corporation
11.10. Nonin Medical Inc
11.11. Smiths Medical Internation
11.12. Welch Alyn Inc
11.13. Company Overviews
11.13.1. CareFusion Corp
11.13.2. Contec Medical Systems Co., Ltd
11.13.3. Edan Instruments Inc.
11.13.4. Korrida Medical System
11.13.5. Microtek International Private Limited
11.13.6. Mindray
11.13.7. Rossmax International Ltd
11.13.8. Spacelabs Healthcare
12. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/w81cuc
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