Pulse Oximeters Market Dynamics, Major Companies Analysis and Forecast 2023
Namely
Pulse Oximeters Market Report has Been Published by Market Research Future
Which Covers All the Geographical Locations with Demand, Trend Analysis with
near about Forecasted results and Also Covers the Market Expectations.
Market -
Global Overview:
The
worldwide pulse oximeters market is predicted to grow at around 6.5 percent
during the forecast period (2017 to 2023). Pulse oximeters are used to assess
key medical parameters; like cardiac, pulse, and breathing rates. They are
employed to analyze the health of patients during the detection of their
illnesses or when they display symptoms.
These
products are adopted across homes, healthcare settings, healthcare emergencies.
Rising elderly populace, preference for home surveillance, and chronic illnesses
are some of the factors that drive this industry. Apart from these, heart
problems and obesity coupled with unhealthy living conditions can also
contribute market sales in the near future.
Bad
eating choices and consumption of junk food are the probable factors, reported
to cause heart ailments, hypertension, and diabetes. Both these factors augur
well for the industry and propel its revenues. In addition to the above
factors, consumer awareness regarding ‘state-of-the-art’ pulse oximeters is
said to boost market growth.
On the
other hand, the key factor which hinders the industry is the shortage of
awareness about these devices across middle & low income families.
Considering the overall scenario, the pulse oximeters market is set to attain
remarkable growth from 2017 to 2023. This fact is credited to the wider
presence of cardiac arrhythmias, ischemic ailments, sleep apnea, and some
others.
Pulse Oximeters Market Key Players:
Top
Leading Players are CAS Medical Systems, Nonin Medical, Spacelabs Healthcare,
and GE Healthcare and Others.
Innovations
in technologies have resulted in customer-friendly and enhanced devices,
resulting in higher market demand. For example, back in 2015, a wireless
fingertip oximeter was introduced that could operate through Bluetooth. The
said device possesses low power and was directed at recognizing
untimely-involvement patients suffering from COPD and other breathing
disorders.
Scarcity
of well-established reimbursement regulations and heavy medical expenses urge
patients to select home care and the convenience that comes along with it. This
factor raises the need for remote patient surveillance devices, again leading
to the growth of pulse oximeters. Quick sanctions on novel products &
services also go a long way in promoting this market.
The
global industry is experiencing constant mergers and acquisitions coupled with
its other expansion strategies. Such an instance is the acquirement of a ‘Vital
Signs’ company unit in 2013 by ‘CareFusion Corp.’ The deal was too good
& reported to generate more incomes for specialized disposable businesses.
The market is fragmented on the basis of products, applications, and regions.
Segments
- Detailed Outlook:
The pulse
oximeters industry, in terms of products, consists of handheld, fingertip, and
others. The various application sub-segments are medical amenities, hospitals,
respiratory & cardiac centers, homecare, etc. Regions into which the market
is split, comprise Asia Pacific, Europe, Americas, and the Middle East and
Africa. Among products, handheld devices led the market.
The
shares of handheld pulse oximeters were ascribed to massive ‘vital stats’
device usage and escalating surgical procedures. Additionally, the early
diagnosis of life-long illnesses & disorders lowers more complexities and
assists better treatments. Moreover, the identification of health risks are
always beneficial in preventing other illnesses or relapses.
Also,
heightened awareness about the significance of keeping patients under proper
observation has positively impacted the market. Fingertip devices have also
become more popular, with them being the most rapidly evolving sub-segment.
Their non-invasive nature has helped them gain traction & patient
convenience.
With
respect to applications, medical amenities and hospitals maintained supremacy
over the industry. The said fact was basically credited to multiple hypertension,
heart arrhythmia, and COPD incidences. The global market was led by Americas.
Europe was close behind, followed by Asia Pacific that was likely to be the
fastest expanding market over the forecast period.
Competition,
Players’ Strategies, and Recent News:
The
worldwide pulse oximeters market is fairly competitive, with various companies
developing new products & services to remain ahead of one another. Product
sanctions and mergers & acquisitions are some of the common strategies used
by these players. Recently, a new oximeter, ‘Elera Starhealth’ was launched to
make reading simple for the patients. It can operate non-stop for fifty hours
& provide rapid & precise spot checks, as and when needed.
Table of Contents
1 Report Prologue
2 Market Introduction
2.1 Introduction
2.2 Scope of Study
2.3 Research Objective
2.4 Assumptions & Limitations
2.4.1 Assumptions
2.4.2 Limitations
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
4 Market Dynamics
4.1 Drivers
4.2 Restraints
5 Market Factor Analysis
…Continued
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