GLOBAL PULSE OXIMETER MARKET FORECAST 2019-2028
NEW YORK, May 12, 2020 /PRNewswire/ --
KEY FINDINGS
The global oximeter market is estimated to project a CAGR of xx% during the forecast period, 2019-2028. The rising healthcare expenditure, increasing demands for portable monitoring devices, growing geriatric population, and the increasing occurrence of respiratory diseases, are the factors projected to propel the market growth during the forecast period.
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MARKET INSIGHTS
A pulse oximeter is a non-invasive medical device used for measuring the level of oxygen in the blood.It is conventionally used in hospitals in pre and post surgeries.
The increasing prioritization of patient safety and the growing number of surgeries are resulting in the growing use of pulse oximeters.The expanding homecare market has given rise to the trend of pulse oximeters utilization in homecare settings.
They are also being procured by hospitals for newborn screening.Several factors, like the rising aging population and innovations in the smart pulse oximeter, have resulted in enhanced data collection procedures in order to make them user-friendly.
At the same time, the incidence of heart-related diseases and trauma conditions and the availability of cost-effective smart pulse oximeters, are the other factors contributing to overall market growth.
A large number of patients suffer from respiratory complications post-operative.The need for monitoring and detecting such complications thus becomes necessary.
Hence, devices like pulse oximeters are recommended on the basis of evidence-based studies that suggest patient monitoring strategies can lessen the chances of respiratory complications.The lack of awareness regarding pulse oximeters in developing countries is one of the main factors affecting market growth in a negative manner.
The low- and middle-income countries adopt traditional methods when it comes to patient monitoring due to their low costs.
REGIONAL INSIGHTS
The geographical segregation of the global pulse oximeter market entails the market analysis of Asia Pacific, Europe, North America, and the rest of the world.The region of North America garnered the largest market share as of 2018, and the region of Asia Pacific is set to record the highest CAGR by the end of the forecast period.
The Asia Pacific market growth is attributed to factors like growing awareness regarding advanced pulse oximeters, rising disposable incomes, and huge populace.
COMPETITIVE INSIGHTS
Some of the eminent companies operating in the market include, CAS Medical Systems, General Electric Company, Koninklijke Philips NV, GE Healthcare, Becton, Dickinson and Company, etc.
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• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
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Companies mentioned
1. BECTON, DICKINSON AND COMPANY
2. CAS MEDICAL SYSTEMS
3. GE HEALTHCARE
4. GENERAL ELECTRIC COMPANY
5. KONINKLIJKE PHILIPS NV
6. MASIMO
7. NIHON KOHDEN CORPORATION
8. NONIN MEDICAL INC
9. OMRON CORPORATION
10. OPTO CIRCUITS
11. SMITHS MEDICAL INC
12. SPACELABS HEALTHCARE
13. WELCH ALLYN
14. MEDTRONIC PLC
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