Chicago, June 3, 2021/PRNewswire/-According to a new market research report, “The pulse oximeter market is classified by product (device, sensor), type (portable, handheld, desktop, wearable), technology (traditional) , Connection), age group (adults, infants, newborns), end users (hospitals, home care), COVID-19 impact-global forecast to 2026″, published by MarketsandMarkets™, it is expected that the global market will change from The US$2.3 billion will increase to US$3.7 billion in 2021, with a compound annual growth rate of 10.1% during the forecast period.
The growth of the pulse oximeter market is mainly driven by the high incidence of global respiratory and heart diseases; more and more surgical operations; the increase in the elderly population and the increase in the incidence of chronic diseases. Growing medical device companies in emerging economies, increasing demand for patient monitoring in non-hospital environments, upcoming bedside testing opportunities, and increasing investment in improving healthcare infrastructure, as well as technological advancements in pulse oximeter equipment , Is expected to provide important services. Growth opportunities for market participants during the forecast period. At present, with the rapid increase of COVID-19 cases, respiratory monitoring has received more and more attention, and pulse oximeters are increasingly used for remote and self-monitoring. In turn, this is expected to drive market growth in the next two years. On the other hand, people are worried about the accuracy of non-medical pulse oximeters and pulse oximeter regulations, which are expected to limit market growth to a certain extent in the next few years. Coupled with factors such as weak health infrastructure in various regions, it is expected to inhibit the growth of this market.
The impact of the coronavirus pandemic and subsequent lockdown measures across the country are clearly visible in various industries, including the patient monitoring equipment market. The overall growth of various industries has been severely affected, especially in countries with a high incidence of COVID-19, such as India, China, Brazil, the United States and several European countries (including Russia, Italy, and Spain). Although revenues in industries such as oil and petroleum, aviation and mining have fallen sharply, the healthcare, biotechnology, and pharmaceutical industries are optimizing this situation to serve the largest number of patients and healthcare professionals.
The pandemic has led to a significant increase in the demand for remote monitoring and patient participation solutions. Most hospitals/medical institutions are currently trying to extend patient monitoring to home care settings or other temporary facilities to provide the best care. COVID-19 has caused a significant increase in the demand for patient monitoring systems in hospitals and home care environments, and manufacturers are increasingly focusing on expanding production to meet the growing demand for respiratory monitoring equipment, including pulse oximeters. In the first quarter of 2020, market demand for certain products related to COVID-19 response increased, including respiratory, multi-parameter monitoring solutions, and instant heart monitoring products. However, the demand and adoption rate of pulse oximeters remained stable throughout the year, and the trend in the first half of 2021 continued to be good. The epidemic suddenly sparked interest in fingertips and wearable pulse oximeters, especially OTC products, which mainly witnessed adoptions in non-hospital settings. Many models of pulse oximeters are sold out in online and physical stores of Amazon, Wal-Mart, CVS and Target in the United States. In addition, the pandemic has caused price fluctuations, which will affect the income of participants operating in the pulse oximeter market.
It is expected that the market will see significant growth in 2020 and the first half of 2021, and is expected to return to normal after the second half of the year. On the other hand, since most of the products have been purchased, the market will decline in the next few years, and only the devices that need to be replaced will be purchased, as well as OTC and certain wearable devices.
The device segment is expected to account for the largest share of the pulse oximeter market in 2020
According to the product, the market is divided into sensors and devices. The equipment segment will account for the largest share of the market in 2020. A large share of this segment is attributed to the increasing use of fingertip devices to monitor blood oxygen levels and technological advancements in wearable pulse oximeters during the COVID-19 pandemic.
The portable pulse oximeter market segment is expected to account for the largest share of the pulse oximeter market
According to the type, the market is divided into portable pulse oximeters and bedside/desktop pulse oximeters. The portable pulse oximeter market is further subdivided into fingertip, handheld and wearable pulse oximeters. In 2020, the portable pulse oximeter market segment will account for the largest market share. During the COVID-19 pandemic, the growing demand and adoption of fingertips and wearable oximeter devices for continuous patient monitoring are the main factors driving the growth of this segment.
The traditional equipment segment is expected to account for the largest share of the pulse oximeter market
According to technology, the market is divided into traditional equipment and connected equipment. In 2020, the traditional equipment market segment accounted for the largest market share. This can be attributed to the use of wired pulse oximeters in combination with ECG sensors and other status monitors in the hospital environment, increasing the demand for patient monitoring. However, the connected equipment segment is expected to achieve the highest compound annual growth rate during the forecast period. The large-scale adoption of such wireless oximeters in home care and outpatient care environments for continuous patient monitoring of COVID-19 patients is expected to support market growth.
The adult age segment is expected to account for the largest share of the pulse oximeter market
According to age groups, the pulse oximeter market is divided into adults (18 years and above) and pediatrics (newborns under 1 month, infants between 1 month and 2 years, children between 2 and 12 years old, and those between 12 and 16 years old. teens) ). In 2020, the adult market segment will occupy a larger market share. This can be attributed to the increasing incidence of chronic respiratory diseases, the rapid increase in the elderly population, the increasing use of oximeters during the COVID-19 pandemic, and the growing demand for home care monitoring and treatment equipment.
According to end users, the market has been subdivided into hospitals, home care environments, and outpatient care centers. The hospital sector will account for the largest share of the pulse oximeter market in 2020. The majority of the sector’s share can be attributed to the widespread use of pulse oximeters to assess the oxygen saturation of patients affected by COVID-19. The increase in the elderly population and the increasing incidence of various chronic respiratory diseases are also key factors that promote the use of monitoring equipment such as oximeters in the diagnosis and treatment stages.
The Asia-Pacific region is expected to account for the highest compound annual growth rate of participants in the pulse oximeter market
From 2021 to 2026, the Asia-Pacific infection control market is expected to grow at the highest compound annual growth rate. The existence of low-cost medical devices, the increase in the number of companies setting up manufacturing units in these countries, favorable government regulations, low labor and manufacturing costs, the number of surgical operations performed each year, the large number of patients, and COVID-19 during the forecast period The increasing number of cases is a key factor driving market growth in the Asia-Pacific region.
The major players in the global pulse oximeter market are Medtronic plc (Ireland), Masimo Corporation (U.S.), Koninklijke Philips NV (Netherlands), Nonin Medical Inc. (U.S.), Meditech Equipment Co., Ltd. (China), Contec Medical Systems Co., Ltd. (China), GE Healthcare (U.S.), ChoiceMMed (China), OSI Systems, Inc. (U.S.), Nihon Kohden Corporation (Japan), Smiths Group plc (U.K.), Honeywell International Inc. ( USA) ), Dr Trust (USA), HUM Gesellschaft für Homecare und Medizintechnik mbH (Germany), Beurer GmbH (Germany), The Spengler Holtex Group (France), Shanghai Berry Electronic Technology Co., Ltd. (China), Promed Group Co., Ltd. (China), Tenko Medical System Corp. (USA) and Shenzhen Aeon Technology Co., Ltd. (China).
Respiratory care equipment market by product (treatment (ventilators, masks, PAP equipment, inhalers, nebulizers), monitoring (pulse oximeter, capnography), diagnosis, consumables), end users (hospitals, home care ), indications-global forecast to 2025 https://www.marketsandmarkets.com/Market-Reports/respiratory-care-368.html
Classified by type (diagnosis (ECG, heart, pulse, blood pressure, sleep), treatment (pain, insulin), application (fitness, RPM), product (smart watch, patch), level (consumer, clinical), channel Wearable Medical Device Market (Pharmacy, Online)-Global Forecast to 2025 https://www.marketsandmarkets.com/Market-Reports/wearable-medical-device-market-81753973.html
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Post time: Jun-21-2021