Pulse oximeters are gaining immense traction across the globe as more and more people around the world are considering self-health assessment tests at home, especially during and after the pandemic
Pulse Oximeter Industry Overview:
Pulse oximeters are gaining immense traction across the globe as more and more people around the world are considering self-health assessment tests at home, especially during and after the pandemic. It is essentially among numerous types of devices that were pertinent during the adverse and concerning hours of the pandemic. Thus, the importance of pulse oximeters among health care professionals and patients across the globe cannot be overstated. The demand for pulse oximeters surged exponentially during the pandemic, and is still hugely growing day by day, owing to the increasing prevalence of respiratory diseases among both millennials and the geriatric populations across the globe.
Moreover, the demand for pulse oximeters is expected to grow expeditiously due to the initiation of innovative initiatives by prominent companies and governments of various countries across the globe. They have worked their way in the best way possible by helping nations in providing all the necessary health care supplements and medical devices. For instance, Government of the Federal Democratic Republic of Ethiopia, Koninklijke Philips N.V., Masimo Foundation and Bill & Melinda Gates Foundation joined forces to provide necessary health and support to the Government of Ethiopia in providing medical devices like oxygen and pulse oximeters for children and women. Thus, dynamic participation of the government in providing necessary aids to the developing nations is expected to boost the demand for pulse oximeters market in the upcoming years.
Similarly, persistent technological advancements and introduction of new, enhanced pulse oximeters is further expected to raise its demand. Thus, various manufacturers across the globe are rigorously displaying their improved models and impressive study results to maximize the usage of pulse oximeters. Besides, increasing popularity of undergoing efficient diagnosis and tracking health conditions and status of patients in home settings is expected to subsequently increase the demand for pulse oximeters in the coming years. In addition, significant rise in the incidence of chronic diseases among people coupled with the exponential growth in the geriatric populations across the globe is further expected to raise the demand for pulse oximeters in the forthcoming years.
Moreover, remarkable surge in the demand for proactive monitoring along with the eminence of rising healthcare investments in the developed and developing countries around the world is anticipated to create tremendous opportunities for the growth of the global pulse oximeter market. According to the report published by Allied Market Research, the global pulse oximeter market is expected to reach $1,901 million by 2022.
Request for Sample Report for More Insights @ https://www.alliedmarketresearch.com/request-sample/1944
Top Leading Players:
The key players operating in the global pulse oximeter market include Contec Medical Systems Co., Ltd., General Electric Company, Halma plc, Koninklijke Philips N.V., Masimo Corporation, Medtronic plc, Nihon Kohden Corporation, Nonin Medical, Inc., Omron Corporation, and Smiths Group plc.
Covid-19 Scenario-
Here, it’s worth mentioning that the outbreak of the Covid-19 pandemic gave way to adjournment of the majority of pulse oximeters across the world, which in turn resulted into a steep decline in demand for pulse oximeters, thereby impacting the market negatively, especially during the initial period. However, as the global situation is getting back to normalcy, the market is also projected to revive soon.
Numerous players of the market are launching impressively innovative pulse oximeters to cater the health care professionals and individuals across the globe, effectively transforming people’s lives and the healthcare industry for years to come. For instance, TytoCare, a creative telehealth company that manufactures products for on-demand and AI-powered remote medical examinations, launched its fingertip Pulse Oximeter (SpO2) medical device. This product is capable of checking heart rate and blood oxygen levels remotely. Patients can conduct the blood oxygen examination in home settings by simply placing their finger in the SpO2 device for about 15 seconds. The results then soon display on both the handheld device and the Pulse Oximeter adaptor. Thus, this product essentially eliminates the requisites of going through tedious clinic and hospital visits since the virtual examination solution also supports clinicians in monitoring the health of the patients with severe, acute disorders.