Pulse oximeters are non-invasive medical devices used to measure the oxygen saturation level in the blood and pulse rate of patients. The devices are widely used in hospitals and clinical settings to monitor patients and ensure timely response in case of emergencies or complications. As the prevalence of respiratory diseases like COPD, asthma, bronchitis etc. increases, the need for monitoring oxygen levels in patients also rises significantly. The key advantages of pulse oximeters include their portability, ease of use and ability to provide continuous, accurate readings that aid decision making in clinical management.
The Global Pulse Oximeter Market is estimated to be valued at US$ 4243.13 Mn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Pulse Oximeter market are Turner Construction Company, Jacobs Engineering Group Inc., HOK Group, Inc., Skanska AB, AECOM, Balfour Beatty plc, Gensler, Lendlease Group, ISG plc, DPR Construction, PCL Construction Enterprises, Inc., Structure Tone, Clark Construction Group, LLC, HBA, JLL (Jones Lang LaSalle). Major players like Masimo Corporation, Medtronic plc, Koninklijke Philips N.V., Nonin Medical Inc., Contec Medical Systems Co., Ltd., Shenzhen Mindray Bio-Medical Electronics Co., Ltd. are continuously innovating new technologies like wireless pulse oximetry and integrated pulse CO-oximetry to expand market share.
The growing geriatric population suffering from chronic diseases and increasing number of surgical procedures are key opportunities in the global Pulse Oximeter Market Demand. Furthermore, growing healthcare infrastructure in emerging economies of Asia Pacific and Latin America are prompting major players to expand manufacturing and distribution networks in these regions to tap unmet demand.
Market Drivers:
- Growing prevalence of respiratory diseases like COPD, asthma and bronchitis is a major market driver as it increases the need for monitoring blood oxygen levels in patients.
- Rising incidence of pre-term births and increasing adoption of pulse oximetry in newborn care also propels the market growth.
Market Restraints:
- Accuracy issues and presence of motion artifacts can limit the effectiveness of pulse oximetry readings in certain cases.
- High cost of advanced pulse oximeters can hamper its adoption in price sensitive developing regions.
Segment Analysis
The pulse oximeter market is segmented into fingertip pulse oximeters, wrist-worn pulse oximeters, and handheld pulse oximeters. The fingertip pulse oximeter segment dominates the market as it is easy to use, small and provides accurate results. This segment is widely used in hospitals, clinics, and home care settings.
Global Analysis
In terms of regional analysis, North America currently leads the Pulse Oximeter Market Regional Analysis and is expected to maintain its dominance over the forecast period of 2024 to 2031. This is attributed to increasing prevalence of chronic respiratory diseases, technological advancements in medical devices, and availability of reimbursement for oximeters and anesthesia monitoring in the region. However, Asia Pacific is anticipated to witness the fastest growth rate during the forecast period owing to rising healthcare expenditure, increasing penetration of pulse oximeters in developing countries like India and China, and growing awareness about patient monitoring devices.
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About Author
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
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