According to the current market research report by Technavio, the global pulse oximetry market is predicted to grow at a CAGR of over 5% during the forecast period 2017 to 2021.
This report by Technavio enlists an exhaustive analysis of the global pulse oximetry market in terms of revenue and emerging market trends. The study also includes an up-to-date analysis and forecasts for several market sectors and all geographical regions.
Technavio research analysts categorize the market based on the product type
The top three revenue contributing product type segments are discussed below:
Bedside or desktop pulse oximeter: The increasing use of pulse oximeter in monitoring patients in ICUs and operating rooms is driving the growth in this market segment. The vendors in the market are focusing on launching new products that meet the demand for multi-parameter patient monitoring devices. These systems are designed to enable smooth integration with the other patient monitoring systems.
“The vendors are offering these devices at different price ranges in varied geographical locations, and it can monitor other parameters such as blood pressure and heart rate. The Americas are the largest market for these products due to the presence of different chronic diseases. The manufacturers are also offering various accessories with these machines to sustain the competition in the global market,” says Srinivas Sashidhar, a lead analyst at Technavio for research on patient monitoring devices.
Portable or fingertip pulse oximeter: The cost-effective price ranges and increasing availability of fingertip or portable pulse oximeter are driving the growth of the market. These systems are designed to be integrated with the desktop patient monitoring system for continuous monitoring in intensive care units (ICUs) and other operating rooms. The growth in the home-care settings will have a positive impact on the demand for these devices in the market during the forecast period. The ASCs is the largest end-user of these pulse oximeters in the global market.
Handheld pulse oximeter: The availability of enhanced features and easy convertibility of these devices is making handheld oximeters the fastest growing patient monitoring system in the global market. The compatibility of these systems with computers and smartphones for data analysis is driving the growth of this market segment. The vendors are partnering with e-commerce websites for the sale of these patient monitoring devices and expanding their businesses.
The top vendors operating in the global pulse oximetry market are:
- Philips Healthcare
The other prominent vendors in the market include CAS Medical Systems, Criticare Systems, Drägerwerk, Edan Instruments, FaceLake, GE Healthcare, iHealth, Korrida Medical Systems, Med Shop and Beyond, Meditech, Mindray Medical International, Nihon Kohden, Nonin Medical, Omron Healthcare, Opto Circuits, Spacelabs Healthcare, Suaoki, and Technocare Medisystems.
Other related reports:
- Global Anesthesia Monitoring Devices Market 2017-2021
- Global Cerebral and Tissue Oximetry Devices Market 2016-2020
- Global Vital Signs Monitoring Devices Market 2016-2020
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