Pune, India, Nov. 25, 2020 (GLOBE NEWSWIRE) -- The global pulse oximeters market is likely to grow in the coming years due to increasing usage clearances from the Food and Drug Administration (FDA). The market is likely to reach US$ 2,657.6 Mn by the end of 2025. Fortune Business Insights states that the market was valued at US$ 1,587.3 Mn in 2017 and will exhibit a CAGR of 6.7% in the forecast period. North America generated revenue of US$ 604.5 Mn in 2017 and is expected to dominate the market throughout the forecast period. Higher adoption of pulse oximeters and higher awareness amongst patients and caretakers are responsible for the higher share of North America in the global pulse oximeters market.
Key Industry Developments:
- In April 2019, the sleep and respiratory division of Koninklijke Philips N.V., Philips Respironics, transferred sales of Pulse Oximeter to Nonin. The strategic move was taken by Koninklijke Philips N.V to streamline the sales process.
- In May 2017, Oxitone Medical Ltd. got FDA approval for its newly developed device, wearable pulse Oximeter, Oxitone 1000.
- In May 2017, one of the leading players in pulse oximeters market, Masimo, launched Red G-Plus oximeter in the global market. The development of newly introduced was funded by Bill & Melinda Gates Foundation.
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Masimo’s Approval for Radius PPG to Trigger Growth
In 2019, Masimo received clearance for its latest pulse oximeter. The ‘Radius PPG’ was approved by the FDA after establishing efficient results through clinical trials. The Radius PPG represents a significant breakthrough in the healthcare industry, particularly for the diagnosis and study of oxygen levels in the blood.
The wireless ability allows users to move freely even when they are being examined with the device. Masimo’s wireless oximeter has gained huge popularity owing to its wireless functions and it is likely that the global pulse oximeters market will benefit from the subsequently rising demand for the Radius PPG.
Radius’ ability to display blood oxygen values on external third party display devices, in addition to Masimo’s inbred host display devices are likely to boost the growth of the global market.
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iHealth’s Wristworn Pulse Oximeter to Witness Massive Demand
iHealth’s wrist-worn pulse oximeter’s wide end user coverage can be attributed to its clinical efficacy and most importantly, its ease of use. The device is available on e-commerce websites such as Amazon and the ease of availability for iHealth’s latest device is a leading factor that has contributed to the growth of the global market.
The device can continuously monitor blood oxygen saturation levels along with the pulse rate, both within a short span of time. The device is integrated with a LED display that shows the oxygen saturation readings. The device operated through the emission of infrared light onto the blood vessels of the fingertip.
The device has won over many users and the increasing demand has led to the distribution on online retail chains as well as offline stores. iHealth’s latest device is likely to boost the global pulse oximeter market in the forthcoming years.
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Masimo and Mindray Announce Partnership to Extend Sales Outside the US
In May 2019, Masimo and Shenzhen Mindray Biomedical Electronics announced that they have reached an agreement to extend the distribution of Masimo’s devices. Through this agreement, Mindray will offer sales and distribution options in countries other than the United States. The increasing demand for Masimo’s wrist-worn pulse oximeters has triggered this agreement, which in turn is likely to favor growth of the global market in the forthcoming years.
List of the leading Companies in Pulse Oximeters Market:
- GENERAL ELECTRIC COMPANY
- Koninklijke Philips N.V
- Masimo
- Messe Düsseldorf GmbH
- VYAIRE
- Opto Circuits (India) Limited
- Medtronic
- Omron Healthcare, Inc.
- Nonin
- B Smiths Group plc.
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Global Pulse Oximeters Market Segmentation:
By Product Type
• Fingertip Oximeters
• Handheld Oximeters
• Tabletop Oximeters
• Others
By End User
• Hospitals
• Ambulatory Surgery Centers and Clinics
• Home Healthcare
• Others
By Geography
• North America (USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (GCC, South Africa, and Rest of Middle East & Africa)
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