Pulse Oximeters Market Potential Effect on Upcoming Future Growth By 2025
The report on the Pulse Oximeters market report includes future industry Trends, Size, Share, Past, current data and deep analysis, and forecast. This market offers a coordinated and orderly methodology for the most important aspects that have influenced the market within the past and also the forthcoming market prospects on which the organizations can rely upon before investing. It furnishes with an affordable examination of the marketplace for better decision-making and assessment to place resources into it. The report analyses the weather and an entire detailed outlook of the most players that are likely to feature to the demand within the global Pulse Oximeters market within the upcoming years.
The market study additionally gives a to-the-point evaluation of the techniques and plans of action that are being executed by the manufacturers and firms to contribute to Pulse Oximeters market growth. A number of the foremost conspicuous measures taken by the organizations are partnerships, mergers & acquisitions, and collaborations to increase their overall reach. The key players are likewise presenting newer product varieties within the market to enhance the merchandise portfolio by embracing the new innovation and completing it in their enterprise.
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The global pulse oximeters market size was worth USD 1.5 billion in 2015 which is anticipated to grow at a CAGR of more than 6.1% during the forecast period. The crucial application of the pulse oximeters in patient monitoring is responsible for its growth. Moreover, its use in anesthesia monitoring and safety have greatly reduced anesthesia-related deaths, which further contributes to the market potential.
Surgical safety has been a major concern and so its provision is a priority worldwide. Global initiatives such as the WHO Surgical Safety Checklist, which was created in 2008 as an outcome of 2007 WHO Safe Surgery Saves Lives program, aims in the application of minimum safety standards across hospitals in all countries. Pulse oximeter, being an essential monitoring device in surgical treatments, is largely affected by such global initiatives that influence its demand and are likely to trigger the market growth.
Modernization has boosted accessibility with the technological advancements in the cell phones operating systems. In 2014, a company named Masimo launched iSpO2 pulse oximeter, which is supported by the Android devices, facilitating ease of use and monitoring.
End User Insights
The conventional use of pulse oximeters is done in hospitals pre and post surgeries. It is also used during surgeries when the patient is anesthetized. The rising number of surgeries and emphasis on patient safety are responsible for the increased use of pulse oximeters during every procedure. These devices are once purchased and require servicing and are not replaced frequently. The use of pulse oximeters in newborn screening also adds to the number of devices procured by the hospitals in their maternity and pediatric care divisions.
However, there is an upward trend of use of pulse oximeters in homecare settings due to the expansion of the homecare market. Hospices and even nursing care centers are procuring oximeters to provide better care to their customers.
The inequality in the distribution of the healthcare facilities worldwide is very significant. For instance, North America has low burden of diseases but high presence of healthcare workers and finances. Moreover, strong technological base, availability, and adaptability of the recent advances in technology makes North America dominate the market. However, African region has high burden of the diseases but low presence of healthcare workers and finances, thus, although a potential market, low awareness and affordability hinder the development of pulse oximeter market in African region.
Asia Pacific is anticipated to show fast growth over the forecasted period owing to the moderate burden of global disorders and high adoption of modernization and developing technology, realizing the need of better healthcare facilities and early detection of disorders through increased use of monitoring devices such as the pulse oximeters.
Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Pulse Oximeters: Market Variables, Trends & Scope
Chapter 4 Pulse Oximeters: Product Estimates & Trend Analysis
Chapter 5 Pulse Oximeters: Application Estimates & Trend Analysis
Chapter 6 Pulse Oximeters: End-use Estimates & Trend Analysis
Chapter 7 Pulse Oximeters: Industrial End-use Estimates & Trend Analysis
Chapter 8 Pulse Oximeters: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Pulse Oximeters: Manufacturers Company Profiles
Top Key Players of Pulse Oximeters Market:
Medtronic (Covidien), Carefusion Corp, GE Healthcare, Philips Healthcare, Masimo, CAS Medical Systems, Inc., Opto Circuits India Ltd., Nonin Medical, Inc., Smiths Medical, Welch Allyn, Spacelabs Healthcare, Meditech Equipment Co., Nihon Kohden Corporation
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