Pulse Oximeter Market Analysis
Pulse Oximeter Market - Global Industry Insights, Trends, Size, Share, Outlook, and Opportunity Analysis, 2018-2026
Pulse oximeter is a noninvasive device used for monitoring a person’s oxygen saturation. In its most common application mode, a sensor device is placed on thin part of the patient body, which is usually a fingertip or earlobe in adults and in case of infants it is placed across a foot. The pulse oximeter displays the percentage of blood that is loaded with oxygen. Pulse oximeter specifically measures the percentage of hemoglobin, the protein in blood that carries oxygen. Pulse oximeter is particularly convenient for continuous measurement of blood oxygen saturation, noninvasively. Pulse oximeter can be used in any setting where patient’s oxygenation is not stable such as in intensive care, recovery, operating, emergency and hospital ward, pilots in unpressurized aircraft, patient at high altitude for assessment of any patient’s oxygenation, and to determine whether there is need for supplemental oxygen.
Furthermore, the simplicity of use and ability to provide continuous and immediate oxygen saturation values makes pulse oximeters of critical importance in emergency medicine or first aid. Pulse oximeter are useful for patients with cardiac problem, respiratory problems, and chronic obstructive pulmonary diseases.
Pulse oximeters are used for diagnosis of sleeping disorders such as hypopnea and apnea. The pulse oximeter with portable battery is useful for pilots operating in a non-pressurized aircraft where supplemental oxygen is required. Pulse oximeter is also extensively used by mountain climbers and athletes as there is low concentration of oxygen at high altitudes or with extensive workout.
Pulse Oximeter Market Taxonomy
By Product Type
By End Users
Driving forces for growth of the pulse oximeter market:
High prevalence of diseases that require continuous monitoring is expected to drive growth of the pulse oximeter market. Furthermore, pulse oximeter market growth is also driven by technological advancements in oximeters and increasing adoption of oximeters in critical care, childbirth, neonatal, surgery, anesthesia, and pediatric care. Increasing demand for pulse oximeters is mainly linked to their characteristics such as portability, connectivity, and compact size.
According to the International Journal of Health Policy and Management showed periodic increase during 2004-2012 of aging associated increase in hospitalization, which was pegged at 1.03 million globally. This in turn is expected to favor growth of the pulse oximeter market. Standardization of patient monitoring in clinical practice creates a highly conducive environment for growth of the global pulse oximeter market. According to the National Sleep Foundation, in 2012, around 40 million people in the U.S. suffered from chronic sleep disorder, which is expected to increase use of pulse oximeters.
Regional growth engines of the pulse oximeter market
According to the Centers for Disease Control and Prevention (CDC) and American Academy of Pediatrics (AAP) in September 2014, it is mandatory for critical congenital heart defects (CCHD) screening for newborns. This is expected to boost demand for pulse oximeters in the U.S. and aid the U.S market to retain its dominance throughout the forecast period. Asia Pacific is expected to observe the fastest growth over the forecast period due to increasing investment of industry players in the region. In Europe, increasing number of patients is expected to drive the market growth. According to The European Sleep Apnea Database (ESADA), March 2014, the number of enrollment of patients reached 15,956 along with 5313 follow up visits, which shows that pulse oximeter market is rising in Europe
Major players operating in pulse oximeter market
Major brands in the pulse oximeter market include: The Apple watch – uses pulse oximeter technology for its heart rate monitor. Key players operating in the pulse oximeter market are CAS Medical Systems Inc., Covidien Plc, Masimo Corporation, Nihon-Kohden Corp., Nonin Medical Inc., Opto Circuits Ltd., Criticare Systems Inc., Mediaid Inc., Spacelabs Health care Inc., Philips Healthcare and Welch Allyn Inc.