According to the latest report by IMARC Group, titled “Pulse Oximeters Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global pulse oximeters market exhibited moderate growth during 2015-2020. A pulse oximeter refers to a small, lightweight medical device that is utilized for monitoring the amount of oxygen present in the patient’s blood. It is non-invasively attached to the fingertip, toe or earlobe of individuals and efficiently detects minor changes in the oxygen levels. It also assesses the saturation of oxygen by utilizing specific wavelengths of light. Upon assessment, the pulse rate and the percentage of oxygen are reflected in the display attached to the device. It is mostly used in critical care settings during emergencies, surgical procedures and recovery in hospital wards.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Pulse Oximeters Market Trends:
The market is primarily driven by the rising incidences of chronic diseases on the global level. Patients suffering from serious health conditions, such as sleep apnea, asthma, hyperlipidemia, cardiac arrhythmia, and chronic obstructive pulmonary disease (COPD), require constant monitoring of pulse rates and oxygen saturation levels. The rising number of such patients is boosting the uptake of pulse oximeters on the global level. Apart from this, a significant increase in the geriatric population and the growing emphasis on patient safety and monitoring are catalyzing the market growth. There has also been an increasing preference for the adoption of non-invasive medical devices among patients and healthcare professionals. This, along with the introduction of portable and wearable oximeters, is expected to create a positive outlook for the market. Furthermore, extensive research and development (R&D) and clinical trials have led to the advent of efficient variants in the market. The integration of these devices with artificial intelligence (AI), smartphones, and advanced sensors and microprocessor technology, is expected to provide an impetus to the market growth. The market is further driven by the sudden outbreak of the coronavirus disease (COVID-19) across the globe as patients suffering from the condition need continuous monitoring of their respiratory parameters, among various other medical aids. Looking forward, IMARC Group expects the market to grow at a CAGR of 8.6% during 2021-2026.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- CAS Medical Systems Inc.
- Contec Medical Systems Co. Ltd.
- Koninklijke Philips NV
- Medtronic Plc
- Nonin Medical Inc.
- Opto Circuits
- Smiths Medical, Inc.
- Spacelabs Healthcare (OSI Systems),
- Welch Allyn (Hill-Rom)
Pulse Oximeters Market Segmentation:
Our report has categorized the market based on Region, Type, Sensor Type and End-Use.
Breakup by Type:
- Fingertip pulse oximeters
- Handheld pulse oximeters
- Wrist-worn pulse oximeters
Breakup by Sensor Type:
Breakup by End-Use:
- Hospitals and Clinics
- Ambulatory Surgery Centers
- Home Healthcare
Breakup by Region:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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