The MRI Pulse Oximeter is designed using non-magnetic components to enable safe and accurate monitoring of pulse and blood oxygen saturation during MRI scans. The oximeter consists of a fiber optic sensor that improves the patient’s safety and enhances the image quality. It is suitable for adults, pediatric & neonate and provides fast pulse rate measurements.
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The significant factors contributing towards the growth of the Global MRI Pulse Oximeter market include the growing research & development spending on the manufacturing of new technologically advanced products and rising investment in the healthcare sector across the globe. With the massive shift in the global healthcare sector, the manufacturers are mainly focusing on continuous product development, such as the introduction of easy-to-use designs with greater flexibility to obtain vital sign information of the patients. For instance, the key manufacturers of MRI pulse oximeters are introducing fiber optic SpO2 sensors and intelligent pulse-by-pulse filtering technology in their products to provide accurate readings. These technological advancements will create new opportunities in the market, thereby attracting a large number of customers to opt for MRI Pulse Oximeters for accurate results. Moreover, during the forecast period. The MRI Pulse Oximeter enables the monitoring of oxygen saturation and indicates dangerous side effects in patients taking drugs that can affect breathing process of the body. On the other hand, the time-consuming procedure of MRI Pulse oximetry testing will hamper the growth of the market during the forecast period.
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Wireless MRI Pulse Oximeters segment is anticipated to lead the market during the forecast period owing to the increasing adoption of these oximeters driven by its ability to operate without connecting it to MRI machines. The market players are emphasizing on higher innovations and investments to gain competitive advantage over the other key players. Moreover, the increasing awareness regarding the exceptional benefits offered by wireless pulse meters will promote the consumers towards the usage of these oximeters.
MRI Pulse Oximeters with monitors segment is expected to grow at the highest CAGR during the forecast period due to the increasing demand for technologically advanced products by the end-users. The increasing adoption of radiological technologies for accurate diagnosis of diseases will further encourage the consumers to adopt these oximeters at the global level.
North American region is anticipated to lead the market during the forecast period owing to the increasing government and private funding in the healthcare sector. The increasing investment in the healthcare sector is encouraging the technological development of the medical devices.
Various notable players operating in Global MRI Pulse Oximeter Market include Koninklijke Philips N.V, Nonin, IRadimed Corporation, EMCO Meditek Pvt. Ltd, MIPM, Medtronic, Omron, GE Healthcare, Masimo, among others.
The Global MRI Pulse Oximeter Market has been segmented on the basis of Product Type, Modality, End-User, and key regions. Based on Type, the market is segmented into Wired MRI Pulse Oximeter and Non-Wired MRI Pulse Oximeter. Based on Modality, the market is segmented into MRI Pulse Oximeter with Monitor and MRI Pulse Oximeter without Monitor. Based on the End-user, the market is segmented into Hospitals, Diagnostic Laboratories, and Ambulatory Surgical Centers.
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