Continuous technological advancements and introduction of efficient pulse oximeters are the key driving factors for pulse oximeters market growth. The global pulse oximeters market is estimated at US$ 1.2 Bn in 2019, and projected to witness moderate growth during the forecast period (2019 – 2029).
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. Moreover, government-driven price management and reimbursement controls, particularly in China and Japan, are offering significant opportunities for manufacturers to invest in these regions. Increasing government initiatives to spread awareness related to various respiratory diseases are boosting the sales of pulse oximeter devices.
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Key Takeaways of Pulse Oximeter Market Study
- A large number of companies manufacturing handheld pulse oximeters significantly contributed to the market share in terms of revenue in the pulse oximeters market.
- North America and Europe collectively hold over 60% of the pulse oximeters market share owing to rapid new product launches in these regions.
- In terms of end user, hospitals are expected to dominate the pulse oximeters market during the forecast period.
- The pulse oximeter market is highly fragmented. Some of the prominent manufacturers include Masimo Corp, Medtronic plc., Koninklijke Philips NV, GE Healthcare, Rossmax International Ltd. and few others.
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“Technological advancements leading to the introduction of new and advanced products and emergence of number of players in the market have intensified pulse oximeter sales,” says a Fact.MR analyst.
Awareness Drives for Treatment of COPD and Asthma Remains USP
Several awareness programs have been introduced and promoted by various health organizations or healthcare societies such as online education programs for healthcare professionals, medication maintenance programs and environmental programs, across the globe to control respiratory disorders such as asthma, COPD and other respiratory disease.
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The introduction and promotion of various awareness programs are expected to increase the growth of pulse oximeters market. These government programs encourage people to adopt early medication, which is expected to increase the revenue generation for the global pulse oximeters market in the forecast years.
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