To know the impact of COVID-19 On Pulse Oximeter Market Size, Share & Trends Analysis Report By Product Type (Fingertip Oximeter, Handheld Oximeter, Tabletop Oximeter), By End-User (Hospitals, Ambulatory Centres and Clinics, Home Healthcare, Others), Region, And Segment Forecasts, 2021 - 2027 Market
Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027
Global Pulse Oximeter Market is valued at USD 2245.7 Million in 2020 and expected to reach USD 3492.1 Million by 2027 with a CAGR of 6.51% over the forecast period.
Global Pulse Oximeter Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Increasing demand of pulse oximeter, rising cases of COPD and growing prevalence of Covid-19 cases globally are some of the major factors driving the growth of Global Pulse Oximeter Market.
Pulse oximetry is a test that measures the amount of oxygen in the blood (oxygen saturation). It's an easy, painless way to see how far oxygen gets to the parts of your body furthest from your core, including your arms and legs. The pulse oximeter is a clip-like device that is mounted on a body part, such as a finger or ear lobe. The probe measures the amount of oxygen in the blood using light. It is a medical instrument that produces a photoplethysmogram, which can be further processed into other measures, by monitoring the oxygen saturation of a patient's blood and changes in blood volume in the skin. A multipara meter patient control may include the pulse oximeter. Pulse oximeter powered by batteries is also available for use during transportation or at home use. Karl Matthes a German physician invented the first two-wavelength ear O2 saturation meter with red and green filters in 1935. (Later red and infrared filters). His meter was the first to detect oxygen saturation. The pulse oximeter is used before, during, and after sedation surgery or procedures to check how well lung medications are working, to check a person's ability to tolerate elevated activity levels, to see whether a ventilator is required to assist with breathing or to check how well it is working, and to see if a person has times when breathing fails during sleep (sleep apnoea). The advancement of techniques to increase the accuracy and the creation of low-cost equipment might actually open more market growth opportunities.
Pulse oximetry is a noninvasive and painless test that measures human oxygen saturation level, or the oxygen levels in human blood. It can rapidly detect even small changes in how efficiently oxygen is being carried to the extremities furthest from the guts, including the legs and therefore the arms. The pulse oximeter may be a small, clip-like device that attaches to a part, like toes or an earlobe. Its most commonly put on a finger, and it’s often used in a critical care setting like emergency rooms or hospitals. Some doctors, like pulmonologists, may use it in office. The purpose of pulse oximetry is to check how well user’s heart is pumping oxygen through user’s body.
During the Covid-19 pandemic, and as a result of the rise in Covid-19 patients, the need for oxygen monitoring devices is increased at various levels such as home isolations, patient ambulatory services, and ventilation areas which has shown a positive effect on the market growth of pulse oximeter. Despite that, the advancement in precision and accuracy may increase the chances of growth in the market of the pulse oximeter.
The regions covered in Global Pulse Oximeter Market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global pulse oximeter is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (UAE, Egypt, Saudi Arabia) GCC, Africa, etc.
Some key players for global pulse oximeter market are Philips Healthcare, Carefusion Corporation, Smiths Medical, Meditech Equipment Co., Nihon Kohden Corporation, General Electric Manufacturing Company (GEMAC), Medtronic (Covidien), Masimo, Opto Circuits India Ltd., GE Healthcare, Welch Allyn, CAS Medical Systems Inc., Nonin Medical Inc., Spacelab Healthcare, Omron Healthcare, Inc., Vyaire Medical and others.
Tyto Care Introduced the Pulse Oximeter, a Device that Measures Blood Oxygen Levels
January 21th, 2021; Tyto Care, a telehealth company, has released its FDA-approved Fingertip Pulse Oximeter (SpO2) medical system for checking blood oxygen saturation levels and heart rate remotely. Patients with Covid-19 and chronic lung or heart problems may benefit from the virtual examination solution used in the home environment, which can help them reduce hospital and clinic visits. A cable connects the Pulse Oximeter to the Tyto Care system. By inserting their finger in the SpO2 system for 15 seconds, users may perform a blood oxygen test. The handheld system and the Pulse Oximeter adaptor will show the blood oxygen and heart rate results shortly. The findings are entered into the Tyto Care platform for clinician analysis and submitted to the patients' electronic health records (EHR). Additionally, if the exam is performed in real-time during a live telehealth visit, the findings can be viewed in the Tyto Care Clinician Dashboard by the clinician. Tyto Care's Pulse Oximeter is available in the United States and Israel through collaborating health systems. In the future, the system will be available in Europe, South Africa, and Asia, according to the company.
Increasing Demand of Pulse Oximeter, Rising Cases of COPD and Growing Prevalence of Covid-19 Cases Globally are the Major Factors Driving the Market Growth
The major factor driving the growth of the global pulse oximeter market is the increasing demand for pulse oximeters in the healthcare sector. In the care of Covid-19 patients, a pulse oximeter has become necessary. Rising cases of Covid-19 patients and home isolations is fostering the demand for pulse oximeter. According to WHO, in symptomatic patients with COVID-19 and risk factors for progression to serious disease who are not hospitalized, a conditional recommendation for home pulse oximetry monitoring as part of a package of treatment that includes patient and provider education and adequate follow-up (very low certainty). A pulse oximeter can be used to diagnose and track hypoxemia, increase patient monitoring, and allow more effective use of oxygen supplies. Patients in intensive care units (ICUs) need respiratory assistance for an average of 13 days, with 10–25% of patients requiring ventilation, and others requiring ventilation for several weeks.
The rising Covid-19 cases globally is one of the major factors fostering the demand for pulse oximeter in various places such as home isolations, hospitals, ventilation rooms, ICU units, and ambulatory services. For instance, According to WHO as of 18th April 2021, New COVID-19 cases grew with over 5.2 million new cases registered in the previous week, surpassing the previous high of early January 2021. The number of new deaths increased by 8% from the previous week, with over 83,000 new deaths recorded. India (1,429,304 new cases; 64% increase), the United States of America (4,77,778 new cases; 2% increase), Brazil (4,59,281 new cases; 1% decrease), Turkey (4,14,312 new cases; 17% increase), and France (2,33,275 new cases; 12% decrease) are the countries registering the most new cases.
In addition, increasing cases of chronic obstructive pulmonary disease (COPD), asthma, pneumonia, lung cancer, anemia, heart attack or heart failure, and congenital heart defects are also supplementing the market growth. The rising cases of such diseases increase the demand for pulse oximeters. For instance, according to the World Health Organization in 2019, 65 million people suffer from mild to extreme chronic obstructive pulmonary disease (COPD). An estimated 262 million people were affected by asthma. In 2020, an estimated 2.21 million people diagnosed with lung cancer. Anemia affects 42% of children under the age of 5 and 40% of pregnant women around the world.
However, advancement in other pulse measuring equipment and the high number of unmet requirements may hamper the growth of pulse oximeter market. In spite of that, increased precision and assuring more safety to the patients can offer more opportunities for the further growth of the global pulse oximeter market.
Key Benefits for Global Pulse Oximeter Market Report–
- Global Pulse Oximeter Market report covers in-depth historical and forecast analysis.
- Global Pulse Oximeter Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
- Global Pulse Oximeter Market report helps to identify opportunities in marketplace.
- Global Pulse Oximeter Market report covers extensive analysis of emerging trends and competitive landscape.
Global Pulse Oximeter Market report is segmented on the basis of product type, end-user and region & country level. Based upon product type, global pulse oximeter market is classified into fingertip oximeter, handheld oximeter, tabletop oximeter and others. Based upon end-user, the market is divided into hospitals, ambulatory surgery centres and clinics, home healthcare and others.
Global Pulse Oximeter Market Segmentation:
By Product Type:
- Fingertip Oximeter
- Handheld Oximeter
- Tabletop Oximeter
- Ambulatory Centres and Clinics
- Home Healthcare
North America is Anticipated to Dominate the Global Pulse Oximeter Market
The global pulse oximeter market is segmented into North America, Europe, Asia-Pacific Latin America, and Middle East & Africa. North America is expected to dominate the global pulse oximeter market within the forecast period owing to the increasing covid-19 cases, high healthcare expenditure, high consumer spending power and easy availability of these products in this region. In addition, the increasing number of cases of lung cancer, pneumonia, cardiovascular diseases in the North American region may also propel the market growth due to the necessity of pulse oximeter in oxygen control and monitoring. For instance; according to WHO, The COVID-19 pandemic in the United States is part of a global coronavirus disease pandemic that began in COVID-19, Since January 2020, more than 32.9 million confirmed cases have been registered, resulting in over 586,000 deaths, the most of any country and the eighth-highest per capita in the world. Lung cancer strike one out of every 16 people in the United States at some point in their lives. This year, more than 235,000 people in the United States were diagnosed with lung cancer, with a new diagnosis occurring every 2.2 minutes.
Europe is expected to expand rapidly in the market of pulse oximeter during the forecast period due to the growing geriatric population coupled with COPD diseases, increasing numbers of Covid-19 patients and the requirement of the monitoring systems at the home level and hospital levels may drive the market growth. For instance; according to the European Center for Disease Prevention and Control, countries of the European Union/European Economic Area (EU/EEA) and the United Kingdom (UK) have recorded 17, 33,550 cases (10% of all cases), with 1,82,639 deaths (27% of all deaths).
Asia Pacific is expected to witness a fastest growth in the global pulse oximeter market owing to the increasing cases of COPD, growing prevalence of Covid-19 cases and rising awareness regarding the benefits of pulse oximeter in this region.
Global pulse oximeter market Market By Regional & Country Level:
- Southeast Asia
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