NEW YORK, Nov. 8, 2023 /PRNewswire/ — The pulse oximetry market size is expected to grow by USD 1,139.54 million from 2022 to 2027, progressing at a CAGR of 8.27% as per the latest Technavio market research report. The pulse oximetry market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. American Diagnostic Corp., Baxter International Inc., Contec Medical Systems Co. Ltd., Dragerwerk AG and Co. KGaA, General Electric Co., Halma Plc, Heal Force Biomeditech Holdings Ltd., ICU Medical Inc., Konica Minolta Inc., Koninklijke Philips NV, Lepu Medical Technology Beijing Co. Ltd., Masimo Corp., Medical Information Technology Inc., Medtronic Plc, Mindray Bio medical Electronics Co. Ltd., Nihon Kohden Corp., Nonin Medical Inc., OMRON Corp., SCHILLER AG, and Vyaire Medical Inc. For more insights on the market share of various regions – Download a sample report in MINUTES
Pulse Oximetry Market: Increasing prevalence of chronic respiratory diseases to drive growth
- The increasing prevalence of chronic respiratory diseases drives the growth of the pulse oximetry market.
- Pulse oximetry is used for a wide range of applications including various indications, such as endotracheal intubation, cardiac arrest, procedural sedation, asthma/chronic obstructive pulmonary disease (COPD), respiratory complaints, acute respiratory distress syndrome (ARDS), sleep disorders/sleep apnea, and shunts in cyanotic heart disease.
- Furthermore, COPD is the third-leading cause of death worldwide and caused over 3.2 million deaths globally in 2022.
- Hence, owing to such factors, the pulse oximetry market will grow during the forecast period.
Pulse Oximetry Market: Increasing Online Marketing Strategies by Market Vendors
- The increasing online marketing strategies by market vendors is an emerging pulse oximetry market trend.
- Owing to the increasing preference for home care settings, there is a shift in the marketing strategies adopted by vendors for pulse oximeters.
- Various market vendors innovate new ways to market pulse oximeters to increase their market presence via online marketing activities to achieve more product sales.
- Hence, due to such trends, the pulse oximetry market will grow during the forecast period.
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Pulse Oximetry Market: Segmentation and Geographical Analysis
This pulse oximetry market report extensively covers market segmentation by product (bedside/desktop pulse oximeters, handheld pulse oximeters, fingertip pulse oximeters, and wrist-worn pulse oximeters), end-user (hospitals, clinics, and alternative care settings), and geography (North America, Europe, Asia, and Rest of World (ROW)).
- The bedside/desktop pulse oximeter segment will be significant for market growth during the forecast period. It is a type of pulse oximeter that is stationary and is placed on a desk or supported by a stand. They have wide applications to provide inpatient healthcare across hospitals and clinics. The applications include enhanced measurement accuracy, data-tracking/transmission capabilities, network connectivity/wireless connectivity options, and higher durability than other types of pulse oximeters. Thus, such applications are expected to drive the growth of this segment which in turn will drive the global pulse oximetry market during the forecast period.
- North America will account for 42% of the market’s overall growth. The growth of the regional market can be attributed to factors such as the high prevalence of respiratory disorders and chronic diseases, increasing the number of surgeries, the presence of skilled physicians, and advances in healthcare infrastructure. Furthermore, there is also a rising case of mortality rate due to respiratory disorders and cardiovascular diseases (CVDs) over the years, resulting in early diagnosis and prevention. Hence, due to such factors, the pulse oximetry market will grow in the North American region during the forecast period.
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-User
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
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