Global Pulse Oximeter Market Overview, 2020-26
Bharat Book Bureau Provides the Trending Market Research Report on “Global Pulse Oximeter Market Overview, 2020-26” under Life Sciences Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
A Pulse Oximeter is a small, lightweight & noninvasive device used to monitor the oxygen level in the body. Usually attached to fingertips, this device assesses the pulse rate & displays the oxygen percentage and the current pulse rate. The research report titled Global Pulse Oximeter Market Overview, 2020-26 by our Research categorizes the market to forecast the revenues and analyze the trends in each of the following segments: based on product type (Fingertip, Handheld & Others), based on end-users (Hospital and Health Care Facilities & Home Care), based on region, countries & major companies. The Pulse Oximeter market has been revamped considering the Covid-19 impact.
Cardiovascular diseases are the number one cause of death globally, taking an estimated 17.9 million lives each year. In the year 2015, the global pulse oximeter market was valued at USD 1.65 Billion. The major factors for the growth of the pulse oximeters market apart from the rising cases of cardiovascular diseases are an increase in the geriatric population and the growing demand for portable monitoring devices.
The rising awareness regarding applications of pulse oximeters post the Covid-19 and the increasing prevalence of target diseases is expected to drive the market growth at an anticipated CAGR of 7%. The availability of new products and high unmet needs in developing and least-developed economies are expected to boost market growth over the forecast period.
The handheld segment dominated the market for the pulse oximeter and accounted for the largest revenue share of over half of the market share. The market is primarily driven by the fact that these oximeters are easy to use in case of emergencies. A rise in the number of stroke cases and surgeries is anticipated to boost market growth over the forecast period. Recording the highest anticipated growth rate, the fingertip segment is expected to grow at over 10%. Technological advancements in oximeters are expected to drive the segment.
The pulse oximeters are used in a medical setting, home as well as at the site of a medical emergency. The hospitals & health facilities segment is the highest revenue contributor to the global market, holding closely to 90% of the market share. These devices facilitate early detection of patients deteriorating health conditions; thereby, enabling speedy intervention and diagnosis of diseases.
Factors such as an increase in the geriatric population, a rise in inclination towards home monitoring, an upsurge in the incidence rate of chronic diseases, and a rise in awareness among patients about advanced pulse oximeters are expected to drive the market. The home care segment is expected to demonstrate the growth of 15.42% in the coming years. However, a lack of awareness about these devices in low- and middle-income economies is hampering market growth.
According to the WHO, around 64 Million patients are currently living with COPD worldwide with approximately 90% of deaths due to COPD occurring in low- and middle-income countries. Latin America, along with the Middle East & Africa could hardly contribute to a market share of 15% by the end of the forecasted period. Globally, North America leads the market, attributing to the increasing respiratory disorders and awareness about the cost-effective devices coupled with the availability of advanced healthcare facilities across the region. However, Asia-Pacific is expected to be the fastest-growing region in the future, owing to its high population base, high disposable incomes, and improvement in patient awareness about advanced pulse oximeters.
Key industry players are undertaking other major initiatives, such as licensing agreements and strategic partnerships, to strengthen their market presence. The market leaders are introducing new products with additional features to sustain them in the competitive market. The Koninklijke Philips NV & CASMED (Edwards Lifesciences Corporation) together accounted for slightly higher than 10% of the total market share. Other major players are Covidien (Medtroni PLCc), Nihon Kohden Corporation, Smiths Medical International, Welch Allyn INC, Spacelabs Healthcare, Meditech, GE Healthcare, etc.
CONSIDERED IN THE REPORT
• Geography: Global
• Base year: 2020
• Historical year: 2015
• Forecasted year: 2026
REGIONS COVERED:
• North America
• Europe
• Asia
• Latin America
• Middle East & Africa
ASPECTS COVERED IN THE REPORT
• Market Size by Value for the period (2015-2026F)
• Market Share by Product type (Fingertip, Handheld & Others)
• Market Share by End User (Hospital and Health Care Facilities & Home Care)
• Market Share by Region
• Market Share by Country
• Market Share by Company
Browse our full report with Table of Content :
https://www.bharatbook.com/report/871061/global-pulse-oximeter-market-overview
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