Dublin, June 23, 2021 (GLOBE NEWSWIRE) -- The "Pulse Oximeter Market by Product (Equipment, Sensor), Type (Portable, Handheld, Table Top, Wearable), Technology (Conventional, Connected), Age Group (Adult, Infant, Neonatal), End User (Hospitals, Home Care), COVID-19 Impact - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global pulse oximeter market is projected to reach USD 3.7 billion by 2026 from USD 2.3 billion in 2021, at a CAGR of 10.1% during the forecast period.
Growth in this market is majorly driven by the high prevalence of respiratory diseases worldwide; the increasing number of surgical procedures; the growing geriatric population and increasing incidence of chronic diseases; the growing investments to improve healthcare infrastructure and technological advancements in pulse oximeter device. The growing medical device companies in emerging economies and upcoming opportunities in point-of-care testing are expected to offer significant growth opportunities for market players during the forecast period. Currently, with the surge in COVID-19 cases, there is a rising focus on respiratory monitoring along with the increasing adoption of pulse oximeters for remote and self-monitoring. This, in turn, is expected to propel market growth in the next two years.
However, the concerns regarding the accuracy of non-medical pulse oximeters and regulations on pulse oximeters are expected to limit market growth to some extent in the coming years. This, along with factors such as poor health infrastructure in various regions, is expected to restrain the growth of this market.
Based on product, the equipment segment holds the largest market share during the forecast period.
Based on the product, the pulse oximeters market is segmented into sensors and equipment. The Equipment segment accounted for the largest share of the pulse oximeter market in 2020. The large share of this segment is attributed to the increasing adoption of fingertip devices during the COVID-19 pandemic for monitoring blood oxygen levels and technological advancements in wearable pulse oximeters.
Based on type, the portable pulse oximeter segment is expected to account for the largest share of the pulse oximeter market
Based on type, the pulse oximeters market is segmented into portable pulse oximeters and bedside/tabletop pulse oximeters. The market for portable pulse oximeters is further segmented into fingertip, handheld, and wearable pulse oximeters. In 2020, the portable pulse oximeters segment accounted for the largest share of the pulse oximeters market. The rising demand and adoption of fingertip and wearable oximeter devices during the COVID-19 pandemic for continuous patient monitoring is the major factor driving the growth of this segment.
Based on technology, the conventional devices segment accounted for a larger market share of the pulse oximeter market
Based on technology, the pulse oximeters market is segmented into conventional and connected devices. In 2020, the conventional devices segment accounted for a larger market share of the pulse oximeter market. This can be attributed to the adoption of wired pulse oximeters in conjunction with EKG sensors and other status monitors in hospital settings with the increasing need to monitor patients continuously. However, the connected devices segment is expected to register the highest CAGR during the forecast period. The high adoption of such wireless oximeters in home care and ambulatory care settings for continuous patient monitoring of COVID-19 patients is expected to support market growth
Based on age group, the adult pulse oximeter segment accounted for a larger market share of the pulse oximeter market
Based on age group, the pulse oximeters market is segmented into adults (18 and over) and pediatrics (neonates under 1 month, infants between 1 month and 2 years of age, children between 2 and 12 years, and adolescents between 12 and 16 years). In 2020, the adults segment accounted for the larger market share of the market. This can be attributed to the growing incidence of chronic respiratory diseases, the rapid increase in the geriatric population, the increasing adoption of oximeters during the COVID-19 pandemic, and the growing demand for home care monitoring and therapeutic devices.
Based on end user, the hospitals segment is expected to register the highest CAGR during the forecast period.
Based on end users, the pulse oximeters market has been segmented into hospitals, home care settings, and ambulatory care centers. The hospitals segment accounted for the largest share of the pulse oximeters market in 2020. The large share of this segment can be attributed to the widespread adoption of pulse oximeters for the evaluation of oxygen saturation in patients affected by COVID-19. The rising geriatric population and the increasing incidence of various chronic respiratory diseases are also key factors driving the adoption of monitoring devices such as oximeters during the diagnostic and treatment stages.
North America is expected to account for the largest share of the pulse oximeter market in 2020
In 2020, North America accounted for the largest share of the pulse oximeters market, followed by Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The large share of the North American market is attributed to the growing number of COVID-19 cases and the need for pulse oximeters during the treatment phase. The surge in the geriatric population in the coming years and the subsequent increase in the prevalence of respiratory diseases, the need for respiratory monitoring devices, technological advancements, the presence of advanced healthcare infrastructure in the US and Canada, and the increased funding for research and development are also driving the growth of the pulse oximeters market in the region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights4.1 Pulse Oximeters Market Overview4.2 Asia-Pacific: Pulse Oximeters Market, by Type and Country (2020)4.3 Pulse Oximeters Market: Geographic Growth Opportunities4.4 Pulse Oximeters Market, by Region (2019-2026)4.5 Pulse Oximeters Market: Developed Vs. Developing Markets
5 Market Overview5.1 Introduction5.2 Market Dynamics5.2.1 Market Drivers5.2.1.1 Rising Prevalence of Respiratory Diseases5.2.1.2 Increasing Prevalence of Congenital Heart Disease (Chd) Among the Pediatric Age Group5.2.1.3 Increasing Number of Surgical Procedures and Hospitalizations5.2.1.4 Growing Geriatric Population and the Rising Incidence of Chronic Diseases5.2.1.5 Technological Advancements in Pulse Oximeter Devices5.2.1.6 Growing Investments to Improve Healthcare Infrastructure5.2.1.7 Outbreak of Communicable Diseases Affecting the Respiratory System5.2.2 Market Restraints5.2.2.1 Regulations and Accuracy Concerns Over OTC Pulse Oximeters5.2.2.2 Poor Healthcare Infrastructure in Few Regions5.2.3 Market Opportunities5.2.3.1 Growing Medical Device Companies and Outsourcing Operations in Emerging Economies5.2.3.2 Growing Demand for Patient Monitoring in Non-Hospital Settings5.2.3.3 Upcoming Opportunities in Point-Of-Care Testing and Growing Demand for Noninvasive Devices5.2.3.4 Rising Adoption of Telemedicine5.2.4 Market Challenges5.2.4.1 Increased Pressure on New Players due to Continuous Technological Advancements by Key Market Players5.2.4.2 Development of Alternative Devices for Oximetry
6 Industry Insights
7 Pulse Oximeters Market, by Product
8 Pulse Oximeters Market, by Type
9 Pulse Oximeters Market, by Technology
10 Pulse Oximeters Market, by Age Group
11 Pulse Oximeters Market, by End-user
12 Pulse Oximeters Market, by Region
13 Competitive Landscape
14 Company Profiles14.1 Key Players14.1.1 Medtronic plc14.1.2 Masimo14.1.3 Koninklijke Philips N.V.14.1.4 Nonin Medical, Inc.14.1.5 Nihon Kohden Corporation14.1.6 Smiths Medical, Inc.14.1.7 GE Healthcare14.1.8 Contec Medical Systems Co., Ltd.14.1.9 Dragerwerk AG & Co. KGaA14.1.10 Spacelabs Healthcare (A Subsidiary of Osi Systems, Inc.)14.1.11 Honeywell International Inc.14.1.12 Meditech Equipment Co., Ltd.14.1.13 Choicemmed14.1.14 Dr Trust Usa14.1.15 Shanghai Berry Electronic Tech Co., Ltd.14.2 Other Players14.2.1 Promed Group Co., Ltd.14.2.2 Tenko Medical System Corp.14.2.3 Hum GmbH14.2.4 Beurer GmbH14.2.5 Shenzhen Aeon Technology Co., Ltd.
15 Appendix
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