A study by Triton Market Research with the title ‘Global Pulse Oximeter Market,’ covers the Global Analysis and Forecast for 2019-2028 by Industrial Vertical (Hospitals & Other Healthcare Facilities, Homecare), Component (Fingertip Pulse Oximeter, Table-top/Bedside Pulse Oximeter, Handheld Pulse Oximeter, Wrist-worn Pulse Oximeter, Pediatric Pulse Oximeter), and by Geographical Region (North America, Europe, Middle East and Africa, Latin America, Asia-Pacific).
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As per the report, the global pulse oximeter market is estimated to generate $2616.7 million in revenue by the year 2028, showcasing a CAGR of 5.57% during the forthcoming years 2019-2028.
A pulse oximeter is a small, clip-like device that is commonly put on a finger, used to measure one’s heart rate, pulse rate and respiratory rate. It is generally used to measure the function of the heart and lungs.
The ever-increasing geriatric population across the world is anticipated to drive the demand for the pulse oximeter market. According to a report by the World Health Organization, the proportion of the world’s population that is over 60 years is anticipated to double from 12% to 22% between the years 2015 and 2050. The increase in the elderly population increases the prevalence of chronic diseases like COPD and increases the burden on the healthcare systems. This is likely to boost the demand for pulse oximeters in the coming years.
However, smaller players from countries like China offer low cost and poor quality devices, which is hampering the credibility of the products and the growth of the studied market. These low-priced devices are available easily in general stores like Wal-Mart. This factor is responsible for creating a price erosion for established industry players, which, in turn, may also compromise the quality.
The pulse oximeter market is primarily segmented into two parts, industry vertical and component. The first segment, industry vertical, includes hospitals & other healthcare facilities and homecare. The second segment, component, divides into fingertip pulse oximeter, table-top/bedside pulse oximeter, handheld pulse oximeter, wrist-worn pulse oximeter and pediatric pulse oximeter.
Considering the geographical landscape, the Middle East and Africa anticipated to be the fastest-growing pulse oximeter market, globally, over the forthcoming years. The major factor contributing to this growth is the alarming prevalence of respiratory disorders in this region. Lifestyle problems like rising tobacco smoking and other factors, including high exposure to sand storms, are leading to a high incidence of pulmonary diseases in the Middle East. There is an increase in the healthcare reforms in the region, which is likely to influence the development of the pulse oximeter market. Also, the number of healthcare centers in the region is expected to rise, leading to an increased demand for pulse oximeters. The increasing awareness among the public regarding the use of these devices is also favoring the regional market growth.
Major players in the pulse oximeter market are Welch Allyn, GE Healthcare (General Electric Company), Spacelabs Healthcare, MASIMO, Koninklijke Philips NV, Cas Medical Systems Inc (Acquired by Edwards Lifesciences), Invacare Corporation, Nihon Kohden Corporation, Opto Circuits Limited, Omron Corporation, Smiths Medical Group Limited, BD (Becton, Dickinson and Company), Zensorium, Nonin and Medtronic.
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Question & Answer: Pulse Oximeter Market
Question 1: Which factors are anticipated to drive the demand for the pulse oximeter market?
Answer: The ever-increasing geriatric population across the world is anticipated to drive the demand for the pulse oximeter market. According to a report by the World Health Organization, the proportion of the world’s population that is over 60 years is anticipated to double from 12% to 22% between the years 2015 and 2050. The increase in the elderly population increases the prevalence of chronic diseases like COPD and increases the burden on the healthcare systems. This is likely to boost the demand for pulse oximeters in the coming years.
Question 2: What is hampering the growth of the pulse oximeter market?
Answer: Smaller players from countries like China offer low cost and poor quality devices, which is hampering the credibility of the products and the growth of the pulse oximeter market. These low-priced devices are available easily in general stores like Wal-Mart. This factor is responsible for creating a price erosion for established industry players, which, in turn, may also compromise the quality.
Question 3: How is the Middle East and Africa influencing the pulse oximeter market outlook?
Answer: Considering the geographical landscape, the Middle East and Africa anticipated to be the fastest-growing pulse oximeter market, globally, over the forthcoming years. The major factor contributing to this growth is the alarming prevalence of respiratory disorders in this region. Lifestyle problems like rising tobacco smoking and other factors, including high exposure to sand storms, are leading to a high incidence of pulmonary diseases in the Middle East. There is an increase in the healthcare reforms in the region, which is likely to influence the development of the pulse oximeter market. Also, the number of healthcare centers in the region is expected to rise, leading to an increased demand for pulse oximeters. The increasing awareness among the public regarding the use of these devices is also favoring the regional market growth.
Question 4: Which are the major players in the pulse oximeter market?
Answer: Major players in the pulse oximeter market are Welch Allyn, GE Healthcare (General Electric Company), Spacelabs Healthcare, MASIMO, Koninklijke Philips NV, Cas Medical Systems Inc (Acquired by Edwards Lifesciences), Invacare Corporation, Nihon Kohden Corporation, Opto Circuits Limited, Omron Corporation, Smiths Medical Group Limited, BD (Becton, Dickinson and Company), Zensorium, Nonin and Medtronic.
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