Pune, 25, Nov 2022: The Global Pulse Oximeter Market report, was published by Maximize Market Research, a leading Healthcare consultancy firm stated that the Pulse Oximeter Market was valued at USD 2.3 Billion in 2021, and it is expected to reach USD 4.97 Billion by 2029, exhibiting a CAGR of 10.1 % during the forecast period (2022-2029). The research gives insight into industry trends, key sectors, and potential investments in various areas, demand and supply networks, regional contexts, and competitive conditions.
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Pulse Oximeter Market Scope and Research Methodology
The new product, unique selling proposition, trend, biomedical engineering, key competitors, industrial chain structure, industry overview, industry national policy, planning analysis, and the most recent dynamic analysis are all included in the Pulse Oximeter Market research report. The report concentrated on the market’s overall drivers, opportunities, challenges, and restraints. The bottom-up technique is used for a market estimate and forecasting. To validate the findings, data were obtained from a large sample utilizing both primary and secondary research methods. Secondary data was collected from a variety of sources to ensure consistency in the results. Examples include official databases from numerous organizations and government websites, industry magazines, newspapers, massive corporate annual reports, manufacturer and supplier publications, and paid databases. To collect primary data, surveys, questionnaire administration, and phone interviews with industry experts, market leaders, entrepreneurs, and marketing professionals are utilized.
Pulse Oximeter Market Overview
A pulse oximeter is a medical device that indirectly (rather than directly through a blood sample) monitors the oxygen saturation of a patient’s blood and changes in blood volume in the skin, producing a photoplethysmogram that may subsequently be processed into further data. A multiparameter patient monitor may include a pulse oximeter. On most displays, the pulse rate is shown. Portable, battery-powered pulse oximeters are also available for blood-oxygen monitoring in the field or at home.
Pulse Oximeter Market Dynamics
The rising prevalence of chronic medical problems, as well as the global geriatric population, are two of the key drivers driving demand for wearable pulse oximeter devices. The increased demand among patients and healthcare professionals for non-invasive medical devices and treatments is also driving the market growth. Product demand is being driven further by the rising usage of portable and wearable oximeter variants, notably among patients with chronic obstructive pulmonary disease (COPD).
Various technological advancements, such as breakthroughs in microprocessor technology, light-emitting diodes, and photoelectric sensors for enhanced accuracy and reliability of pulse oximeters, are driving up demand for oximeter devices. Growing healthcare expenditures, the integration of oximeters with artificial intelligence (AI), and the launch of variations compatible with Android and Apple operating systems for preserving electronic medical records are also expected to drive the market over the forecast period (EMR).
Pulse Oximeter Market Segmentation
By Product Type
- Tabletop Oximeter
- Fingertip Oximeter
- Handheld Oximeter
By Age Group
- Hospitals & Ambulatory Services
- Home Healthcare
Pulse Oximeter Market Regional Insights
Because of increased public awareness of the need of monitoring respiratory vitals, North America led the pulse oximeter market and held the largest revenue share of 50.2% in 2021. Because the use of a pulse oximeter is considered supplementary by Medicare, it is frequently reimbursed alongside the primary service. In addition, for outpatients and patients who wish to be treated at home, a pulse oximeter is recognized as a reasonable need and is reimbursed with enough documentation. As a result, a favorable reimbursement infrastructure would boost the Pulse Oximeter market growth. Additionally, health organizations are offering COVID-19 research to medical practitioners to assist them in better managing the pandemic issue. In interim clinical recommendations given in February 2021, the CDC noted the likelihood of pulse oximeters having inferior accuracy in those with dark skin.
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Pulse Oximeter Market Key Competitors:
- NIHON KOHDEN CORPORATION (Japan)
- Medtronic (Covidien)
- Koninklijke Philips N.V.
- Carefusion Corp.
- GE Healthcare
- Philips Healthcare
- CAS Medical Systems, Inc.
- Honeywell International Inc.
- Opto Circuits India Ltd.
- Nonin Medical, Inc.
- Smiths Medical
- Welch Allyn
- Beurer GmbH
- Contec Medical Systems Co. Ltd
- Spacelabs Healthcare
- Promed Group Co., Ltd.
- Meditech Equipment Co.
- OSI Systems, Inc.
- Tenko Medical System Corp.
- The Spengler Holtex Group.
Key questions answered in the Pulse Oximeter Market are:
- What is Pulse Oximeter?
- What is the growth rate of the Pulse Oximeter Market during the forecast period?
- What is the nature of competition in the Pulse Oximeter Market industry in developed economies and developing economies?
- Who are the key players in Pulse Oximeter Market?
- Who are the market leaders in Pulse Oximeter Market in Europe?
- Who are the market leaders in Pulse Oximeter Market in USA and Canada?
- Who are the market leaders in Pulse Oximeter Market in India, China, Japan, and South Korea?
- What are the factors affecting growth in Pulse Oximeter Market?
- Who held the largest market share in Pulse Oximeter Market?
- What are the factors for the growth of the Asia-Pacific region in the Pulse Oximeter Market?
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Product Type, Technology, Age Group, End-User, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading Healthcare research firm, has also published the following reports:
Wearable Medical Devices Market: Wearable Medical Devices Market size was valued at US$ 19.83 Billion in 2021 and the total Wearable Medical Devices revenue is expected to grow at 20.2% from 2022 to 2029, reaching nearly US$ 86.42 Billion. A major driver of the wearable medical devices market is the increasing awareness of fitness and healthcare among consumers.
Connected Healthcare Market: Connected Healthcare Market size was valued at US$ 52.12 Bn in 2021 and the total revenue is expected to grow at 27.12 % from 2021 to 2029, reaching nearly US$ 355.39 Bn. Increasing Technological development and growing Health Awareness among medical professionals are the major factors driving the growth of the Connected Healthcare Market.
Connected Medical Devices Market: Connected Medical Devices Market is expected to grow at a CAGR of 21.90% during the forecast period and the market size is expected to reach nearly US$ 163.27 Bn by 2029. Also, the growing popularity of wearable medical devices among consumers who are capable of detecting diabetes at an early stage is surging the connected medical device market globally.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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