Global Pulse Oximeters Market to Surpass US$ 6,123.0 Million by 2030 - Coherent Market Insights
28 Jun 2022
AcquisitionCollaborate
SEATTLE, June 28, 2022 /PRNewswire/ -- According to
Coherent Market Insights, the global
pulse oximeter market is estimated to be valued at
US$ 6,123.0 million in 2022 and is expected to exhibit a
CAGR of 7.5% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Pulse Oximeter Market:
Key trends in market include, inorganic activities such as acquisitions, by key market players in order to expand their product portfolio. For instance, in December 2021, Zynex Inc., a medical device manufacturer, announced that it had acquired 100% of Kestrel Labs, Inc., a laser-based, noninvasive patient monitoring Technology Company. The products of Kestrel Labs, Inc., include laser-based products, multi-parameter pulse oximeter, the NiCO CO-Oximeter, and HemeOx, a total hemoglobin oximeter that allows continuous arterial blood monitoring.
Market Dynamics
Pulse oximeter companies have adopted inorganic growth strategies such as partnership in order to expand their product portfolio and strengthen their position in market. In July 2020, Welch Allyn, a subsidiary of Hill-Rom Services Inc., partnered with Nonin Medical, a company designing and manufacturing noninvasive pulse oximeters, to offer its clinically-proven PureSAT SpO2 technology to Welch Allyn. This partnership will help the company expand its product portfolio.
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Key Market Takeaways:
Global pulse oximeter market is expected to exhibit a CAGR of 7.5% during the forecast period, owing to increasing product launches by key players in market. For instance, in January 2021, TytoCare Ltd., a telehealth company, launched Pulse oximeter to measure blood oxygen level and heart rate remotely. It is US Food and Drug Administration (FDA) approved fingertip pulse oximeter device which measures blood oxygen saturation levels and heart rate. The virtual examination helps to monitor patients with Covid-19 and chronic lung or heart conditions, at the comfort of home, thereby helping them avoid clinic and hospital visits.
Among product type, Table-top pulse oximeter segment is expected to hold a dominant position in the global medical pulse oximeter market in 2022. Desktop oxygen meter/table-top pulse oximeter can monitor blood oxygen saturation (SPO2), carbon dioxide (ETCO2), noninvasive blood pressure (NIBP), and other major parameters. Increasing product launches by market players are expected to drive the segment growth over the forecast period. For instance, in July 2020, Opto Circuits (India) Limited, a multinational medical technology company relaunched its U.S. Food and Drug Administration (U.S.FDA)-approved pulse oximeters which include finger pulse oximeter, bedside/Intensive Care Unit (ICU) pulse oximeters, and multiparameter patient monitoring systems under the brand names of Mediaid and Criticare.
On the basis of sensor type, disposable sensor pulse oximeter segment is expected to dominate in terms of market share in 2022, and is expected to retain its dominance over the forecast period. Increasing product launches by market players is expected to drive the segment growth over the forecast period. For instance, in March 2021, Nonin Medical, Inc., a global leader in noninvasive medical monitoring, announced the launch of two new disposable products – a single-use wristband and a sensor to use with WristOx2 3150 wrist-worn pulse oximeter (SpO2). This new single-use wristband and sensor offer secure placement on a patient's wrist or finger and are comfortable for extended wear for pulse oximetry and pulse rate monitoring.
Key players operating in the global pulse oximeters market include
Masimo, Medtronic Plc, Nihon-Kohden Corporation, GE Healthcare, Koninklijke Philips N.V., Hill-Rom Services, Inc., Smiths Medical, Nonin, MICROTEK, OSI Systems, Inc., Honeywell International Inc., Promed Technology Co., Ltd., Beurer, Contec Medical Systems Co., Ltd., ChoiceMMed, CONMED Corporation, Stryker, Medline Industries, Inc., Curbell Medical Products, Inc., and Ecomed.
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Detailed Segmentation:
Global Pulse Oximeter Market, By Product Type:
Table-top/Bedside Pulse Oximeters
Fingertip Pulse Oximeter
Wrist-worn Pulse Oximeter
Handheld Pulse Oximeter
Global Pulse Oximeters Market, By Sensor Type:
Disposable Sensor Pulse Oximeter
Reusable Sensor Pulse Oximeter
Reprocessed Sensor Pulse Oximeter
Global Pulse Oximeters Market, By End User:
Hospital
Clinics
Ambulatory Surgical Centers
Other End User
Global Pulse Oximeters Market, By Region:
North America
By Country:
U.S.
Canada
Europe
By Country:
U.K.
Germany
Italy
France
Spain
Russia
Rest of Europe
By Country:
China
India
Japan
ASEAN
Australia
South Korea
Rest of Asia Pacific
Latin America
By Country:
Brazil
Mexico
Argentina
Rest of Latin America
Middle East & Africa
By Country:
GCC Countries
Israel
South Africa
Rest of Middle East & Africa
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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SOURCE Coherent Market Insights
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