Growing Adoption in Homecare Settings to Boost Pulse Oximeters Market Growth by 2029
North America is Expected to Hold Approximately 40% of the Total Revenue Generated in the Pulse Oximeters Market by 2029
Fact.MR’s latest report on Pulse Oximeter Market offers unbiased industry analysis for the period between 2019 and 2029. The study divulges exclusive information about existing opportunities and emerging trends across leading segments in terms of product, usage and end user. It also highlights various strategies employed by key manufacturers to gain edge in the market.
Fact.MR – A Market Research and Competitive Intelligence Provider: According to the latest Fact.MR analysis, the global pulse oximeters market size is estimated at US$ 1.2 Bn in 2019 and projected to witness at a healthy CAGR of 7% during the forecast period.
Continuous technological advancements and introduction of efficient pulse oximeters are the key driving factors for pulse oximeters market growth. The global pulse oximeters market is estimated at US$ 1.2 Bn in 2019, and projected to witness moderate growth during the forecast period (2019 - 2029).
In January 2017, Masimo launched two patient monitoring products in India namely, Rad-97 Pulse-CO Oximeter and SedLine Brain Function Monitoring. These products are expected to improve the patient monitoring capabilities of clinicians. Moreover, government-driven price management and reimbursement controls, particularly in China and Japan, are offering significant opportunities for manufacturers to invest in these regions. Increasing government initiatives to spread awareness related to various respiratory diseases are boosting the sales of pulse oximeter devices.
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Key Takeaways of Pulse Oximeter Market Study
- A large number of companies manufacturing handheld pulse oximeters significantly contributed to the market share in terms of revenue in the pulse oximeters market.
- North America and Europe collectively hold over 60% of the pulse oximeters market share owing to rapid new product launches in these regions.
- In terms of end user, hospitals are expected to dominate the pulse oximeters market during the forecast period.
- The pulse oximeter market is highly fragmented. Some of the prominent manufacturers include Masimo Corp, Medtronic plc., Koninklijke Philips NV, GE Healthcare, Rossmax International Ltd. and few others.
“Technological advancements leading to the introduction of new and advanced products and emergence of number of players in the market have intensified pulse oximeter sales,” says a Fact.MR analyst.
Awareness Drives for Treatment of COPD and Asthma Remains USP
Several awareness programs have been introduced and promoted by various health organizations or healthcare societies such as online education programs for healthcare professionals, medication maintenance programs and environmental programs, across the globe to control respiratory disorders such as asthma, COPD and other respiratory disease. The introduction and promotion of various awareness programs are expected to increase the growth of Wireless pulse oximeters market. These government programs encourage people to adopt early medication, which is expected to increase the revenue generation for the global pulse oximeters market sales in the forecast years.
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Growing Adoption of Pulse Oximeters in Homecare Settings Boosting Market Growth
The increasing demand for pulse oximeters at home care settings is expected to propel growth of the pulse oximeter market. Pulse oximeters were initially used at home in the early 1990s for continuous monitoring with home mechanical ventilation and sleep studies.
Intermittent spot-check use at home has become more common in recent years with conditions such as Congestive Heart Failure (CHF), Chronic Obstructive Pulmonary Disease (COPD), and others requiring oxygen therapy. The artificial intelligence (AI) with pulse oximeters have increased the adoption of this device in home care settings.
Key players operating in the Pulse Oximeters market include Masimo Corp., Medtronic plc, Philips Respironics Inc., Nonin Medical Inc., GE Healthcare LLC., Smiths Medical, Rossmax International Ltd., Contec Medical Systems Co Ltd., Omron Healthcare Co Ltd.
Key Questions Answered in Fact.MR’s Pulse Oximeters Market Report
- Which regions will continue to remain the most profitable regional markets for pulse oximeters market players?
- Which factors will induce a change in demand for pulse oximeters manufacturers during the assessment period?
- How will changing trends impact the pulse oximeters market?
- How can market players capture the low-hanging opportunities in the pulse oximeters market in developed regions?
- Which companies are leading the pulse oximeters market?
- What are the winning strategies of stakeholders in the pulse oximeters market to upscale their position in this landscape?
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