Global Pulse Oximeters Market Size, Share, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Pulse Oximeters Market


The global Pulse Oximeters market size is projected to reach US$ 2.93 billion by 2026, from US$ 2.03 billion in 2020, at a CAGR of 6.3% during 2021-2026. The huge burden of healthcare costs and lack of defined reimbursement policies push patients to opt for home care. This boosts the demand for remote patient monitoring devices, which is anticipated to drive the demand for pulse oximeters.

Continuous patient monitoring incurs additional costs, which can be challenging in a limited healthcare budget. This can be tackled by spot-checking using handheld or fingertip oximeter. Readmission is a major problem faced by COPD patients and is estimated to annual cost of USD 25 billion. This results in accelerated demand for oximeters which can monitor the patients and remotely send the data to doctor.

Technological advancements and rapid approvals are the key drivers for the market. For instance, in February 2014, Masimo launched iSpO2 pulse oximeter, which is compatible with Android devices. Moreover, in May 2014, the European regulatory body approved Masimos iSpO2 Rx Pulse Oximeter, which is compatible with Android and Apple operating systems. In June 2015, the company also received CE mark for the device.

The industry is also witnessing dynamic merger and acquisition activities. For instance, In November 2013, CareFusion Corp. acquired Vital Signs division from GE Healthcare from U.S., China, and other locations. The transaction was worth USD 500 million and was expected to expand the size of specialty disposable business.
In August 2018, Philips acquired Xhale Assurance, Inc.-a scale-up company developing next-generation sensor technologies. Their pulse oximetry sensor can measure heart rate and blood oxygenation level under low perfusion pressure, which is difficult for a conventional fingertip pulse oximeter to measure. The technology will help Philips to expand and differentiate its existing product portfolio.

Market Segmentation, Outlook & Viewpoint: Global Pulse Oximeters Market

Type Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Fingertip
  
Handheld
  
Others

End-use Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Hospitals and Other Healthcare Facilities
  
Homecare

Key Players, Recent Developments & Regional Insights: Global Pulse Oximeters Market

Based on the type, the pulse oximeters market is segmented into fingertip, handheld, and others. The handheld segment led the market in 2018 due to the rising number of surgeries and use of vital stats monitoring devices during every procedure. Moreover, early detection of chronic diseases helps the treatment and can reduce further complications. Furthermore, monitoring the risk factors can also be beneficial to avoid the occurrence of diseases. Rising awareness about the importance of monitoring is anticipated to boost the growth.

Fingertip pulse oximeters are also gaining popularity and the segment is anticipated to register the fastest register the fastest CAGR during the forecast period. The noninvasive nature of these devices makes them a preferred option, especially for infants and neonates. These devices are battery operated and are available in various memory capacities. Innovative additions to the oximeter technology is a driving factor for this segment. Additional features, such as Bluetooth, alarm system, extensive memory, and easy transfer of data increase the efficiency of the product.
Industry players introduce new products with additional features to remain in the competition. For instance, in June 2015, Masimo also launched MightySat Rx Pulse Oximeter, which was compatible with smartphones and tablets. The product helps clinicians track up to 12 hours of patient data, thereby, helping them monitor the patient remotely.

End-use Insights

Hospitals and other healthcare facilities segment held the dominant market share in 2015. The presence of a large patient base with target diseases, such as COPD, hypertension, sleep apnea, and cardiac arrhythmia, thereby boosting the demand for vital stats monitoring devices.

However, the homecare segment is estimated to increase at a rapid rate over the forecast period. The use of pulse oximeters in hospice and palliative care, mainly to maintain patient comfort and to improve the quality of life to aid conventional treatment, especially in case of pulmonary fibrosis. For monitoring oxygen levels in case of emergencies, patients in hospice care are mostly monitored by fingertip or wrist pulse oximeters.

Regional Insights

North America led the market in 2018 and followed by Europe. Pulse oximetry screening can detect problems and can avoid the risk of serious complications in the first few weeks of life of the infants. This has resulted in making it mandatory for newborn screening in the U.S. before their discharge from hospitals.

The American Academy of Pediatrics had recommended these devices to be a part of newborn screening for CCHD since 2011, which was implemented in 2014. This is anticipated to be a key driver for the regional market over the forecast period.

Asia Pacific is anticipated to observe the fastest growth in the forthcoming years. This can be attributed to the increasing awareness about patient safety during surgery and anesthesia, which has compelled governments and hospitals to include pulse oximetry in their treatments. Institutes such as the Indian Society of Anesthesiologists advocate the use of pulse oximeters during any procedure wherein the patient is anesthetized.

Pulse Oximeters Market Share Insights

There is increase in the development of new products as many companies launch their products with improved technology at various geographical locations. In January 2017, Masimo launched two patient monitoring products in India, namely, Rad-97 Pulse-CO Oximeter and SedLine Brain Function Monitoring. These products are expected to improve the patient monitoring capabilities of clinicians.

Mergers and acquisitions and approval of products by the regulatory bodies of different countries are also some of the key strategic initiatives undertaken by the major industry players. For instance, in September 2018, Masimo announced the FDA approval of rainbow Acoustic Monitoring RAS-45 Sensor, a noninvasive respiration rate measurement system for infant and neonatal patients. Masimo also received FDA clearance for forehead sensor in late 2016 and CE mark for RAS-45 in mid-2016.

In April 2018 Opto Circuits (India) Limited announced that Unetixs Vascular, Inc., USA, a developer of noninvasive vascular technology and Opto Circuits subsidiary has launched the latest technology in MultiLab vascular system, called the Innovative Series II LHS ROODRA. The system will offer one-touch functional vascular system and provide a touchscreen monitor on a multi-axis mount for correct usage.

Key Insights Covered: Global Pulse Oximeters Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Pulse Oximeters industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Pulse Oximeters industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Pulse Oximeters industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Pulse Oximeters industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Pulse Oximeters industry.

Research Methodology: Global Pulse Oximeters Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other