Chicago, Oct. 26, 2022 (GLOBE NEWSWIRE) -- According to the new market research report "Pulse Oximeter Market by Product (Equipment, Sensor), Type (Portable/Table-Top Pulse Oximeters), Technology (Conventional, Connected), Age Group (Adult, Infant, Neonatal), End Users (Hospitals, Home Care, Ambulatory Care Centers) - Global Forecast to 2027", the global pulse oximeters market is projected to reach USD 4.3 billion by 2027 from USD 2.8 billion in 2022, at a CAGR of 8.8% during the forecast period.
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47 - Figures
296 - Pages
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Scope of the Report:
| Report Coverage | Details |
| Market Size | USD 4.3 billion by 2027 |
| CAGR | 8.8% |
| Historical Data | 2020-2027 |
| Base Year | 2021 |
| Forecast Period | 2022-2027 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product, By Type, By End User, By Age Group, By Technology |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa |
| Key Companies Profiled/Vendors | Medtronic plc (Ireland), Masimo Corporation (US), Koninklijke Philips N.V. (Netherlands), Nonin Medical Inc. (US), Nihon Kohden Corporation (Japan), GE Healthcare (US), CONTEC MEDICAL SYSTEMS CO., LTD. (China), ICU Medical, Inc. (US), Drägerwerk AG & Co. KGaA (Germany), OSI Systems, Inc. (Spacelabs Healthcare) (US), Honeywell International Inc. (US), MEDITECH Equipment Co., Ltd. (China), Medline Industries, LP (US), ChoiceMMed (China), Dr Trust (US), Shanghai Berry Electronic Technology Co., Ltd. (China), Promed Group. Co., Ltd. (China), Tenko Medical System Corp. (US), HUM GmbH (Germany), Beurer GmbH (Germany), Shenzhen Aeon Technology Co., Ltd. (China), Bitmos GmbH (Germany), Tecno-Gaz S.P.A. (Italy), Shenzen Unicare Electronic Co., Ltd (Germany), and Visionflex Pty., Ltd (Australia). |
| Key Market Opportunities | Expansion of medical device companies in emerging economies |
| Key Market Drivers | Rising incidence of respiratory diseases |
Growth in this market is majorly driven by the technological advancements in pulse oximeter devices, rising prevalence of respiratory diseases, and growing number of surgical procedures and hospitalizations. The growing investments to improve healthcare infrastructure is also responsible for driving the growth of this market. However, the poor healthcare infrastructure in emerging countries along with regulations and accuracy concerns for OTC pulse oximeters are expected to limit market growth to some extent in the coming years.
Based on product, the pulse oximeter market is segmented into sensors and equipment. The equipment segment accounted for the largest share of the pulse oximeters market in 2022. The large share of this segment is attributed to the increasing hospital admissions leading to higher demand for patient monitoring devices such as pulse oximeters.
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Based on type, the pulse oximeters market is segmented into portable pulse oximeters and bedside/tabletop pulse oximeters. In 2021, the bedside pulse oximeters segment accounted for the largest share of the pulse oximeters market. The increasing incidence of chronic diseases leading to rising hospitalisation numbers are responsible for the higher adoption of bedside pulse oximeters across healthcare facilities for continuous patient monitoring.
Based on technology, the pulse oximeter market is segmented into conventional and connected devices. In 2021, the conventional devices segment accounted for the largest share of the pulse oximeters market. Use of wired pulse oximeters in conjunction with EKG sensors and other status monitors in hospital settings with the increasing need to monitor patients continuously will drive the adoption of conventional pulse oximeters.
Based on age group, the pulse oximeters market is segmented into adults (18 and over) and pediatrics (neonates under 1 month, infants between 1 month and 2 years of age, children between 2 and 12 years, and adolescents between 12 and 16 years). In 2021, the adults segment accounted for the larger market share of the market. The growing incidence of chronic respiratory diseases, the rapid increase in the geriatric population, and the growing demand for home care monitoring and therapeutic devices will drive the pulse oximeters market for adults segment.
Based on end users, the pulse oximeter market has been segmented into hospitals, home care settings, and ambulatory care centers. The hospitals segment accounted for the largest share of the pulse oximeters market in 2021. The large share of this segment can be attributed to the widespread adoption of pulse oximeters for the evaluation of oxygen saturation in patients affected by chronic lung diseases.
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Geographical Growth Scenario:
In 2021, North America accounted for the largest share of the pulse oximeter market, followed by Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The large share of the North American market is attributed to the surge in the geriatric population and with and the subsequent increase in the prevalence of respiratory diseases leading to an increased need for respiratory monitoring devices. The presence of advanced healthcare infrastructure in the US and Canada, and the increased funding for research and development are also expected to drive the growth of the pulse oximeters market in the region.
Key Players:
The prominent players in the global pulse oximeters market are Medtronic plc (Ireland), Masimo Corporation (US), Koninklijke Philips N.V. (Netherlands), Nonin Medical Inc. (US), Nihon Kohden Corporation (Japan), GE Healthcare (US), CONTEC MEDICAL SYSTEMS CO., LTD. (China), ICU Medical, Inc. (US), Drägerwerk AG & Co. KGaA (Germany), OSI Systems, Inc. (Spacelabs Healthcare) (US), Honeywell International Inc. (US), MEDITECH Equipment Co., Ltd. (China), Medline Industries, LP (US), ChoiceMMed (China), Dr Trust (US), Shanghai Berry Electronic Technology Co., Ltd. (China), Promed Group. Co., Ltd. (China), Tenko Medical System Corp. (US), HUM GmbH (Germany), Beurer GmbH (Germany), Shenzhen Aeon Technology Co., Ltd. (China), Bitmos GmbH (Germany), Tecno-Gaz S.P.A. (Italy), Shenzen Unicare Electronic Co., Ltd (Germany), and Visionflex Pty., Ltd (Australia).
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