Global pulse oximetry market size is anticipated to reach USD 2,194.72 million by
2022. Pulse Oximeter is a device that catches pulsatile signal in toe or finger
and can calculate the amount of pulse rate and hemoglobin. The factors that
propel the growth of the market include increasing need for home monitoring,
rising cases of chronic diseases such as obesity, surge in the occurrence rate
of chronic obstructive pulmonary disorder, cardiovascular disorders, and
growing consciousness about progressive pulse oximeters, increase in the
occurrence rate of chronic obstructive pulmonary disease, upsurge in healthcare
spending in the developing economies, and high demand for proactive monitoring.
On the other hand, there are factors that may hamper the growth of the market
including lack of consciousness in emerging regions.
Market could be explored
by product type, end users and geography. Market could be explored by product
type as Handheld pulse oximeters, Fingertip pulse oximeters, and Others. The
“Handheld pulse oximeters” segment led the pulse oximetry market in 2015 and
will continue to lead in the forecast period. The key factors that could be
attributed to the growth of the market includes an increasing number of
surgeries, usage of vital stats monitoring devices during every procedure and
increasing consciousness about the importance of monitoring.
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Based on end users, market could span
Homecare and Hospitals and other healthcare services. The “Hospitals and other
healthcare facilities” segment led the market in 2015 and will continue to lead
in the forecast period. The key factors that may be attributed to the growth of
the market includes the presence of a huge patient base with target diseases
such as hypertension, COPD, cardiac arrhythmia, and sleep apnea.
North America accounted for the major
share of the pulse oximetry market in 2015 and will continue to lead in the
forecast period. The factors that could be attributed to the growth include the
existence of key players, good health consciousness among people, a huge number
of respiratory diseases and rising aged population in this region. North
America is followed by Europe and Asia-Pacific region owing to growing
consciousness about patient security during anesthesia and surgery, increasing
demand.
Some of the key players that fuel the
growth of the pulse oximetry market comprise CareFusion Corp; Covidien; GE
Healthcare; Masimo; Koninklijke Philips N.V.; Opto Circuits India Ltd.; CAS
Medical Systems, Inc.; Nonin Medical, Inc.; Welch Allyn; Smiths Medical;
Zensorium; Spacelabs Healthcare; Nihon Kohden Corporation and Meditech
Equipment Co. Ltd. The leading companies are taking up partnerships, mergers
and acquisitions, and joint ventures in order to boost the inorganic growth of
the industry.
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