Sarasota, FL, Sept. 22, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Pulse Oximeter Market by Product Type (Handheld, Fingertip, Wrist-worn and Bedside), by End User Type (Hospitals, Ambulatory Surgery Centers, Diagnostic Care Centers, Home-Care Settings and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 - 2022” . According to the report, the global pulse oximeter market was valued at around USD 1,684.0 million in 2016 and is expected to reach around USD 2,393.3 million by 2022, growing at a CAGR of 6.2 % between 2017 and 2022.
Pulse Oximeter is a device that can detect a pulsatile signal in finger or toe and can calculate the amount of oxygenated hemoglobin and pulse rate. Data obtained from pulse oximeter such as saturation of oxygen and pulse rate are vital signals for early diagnosis of heart disease. It is a safe, convenient, noninvasive, inexpensive method for measuring oxygen saturation. Indications for pulse oximetry include chronic obstructive pulmonary disease, cardiac arrest, asthma and respiratory diseases.
Browse through 31 Market Tables and 18 Figures spread through 110 Pages and in-depth TOC on "Global Pulse Oximeter Market: By Type, Share, Application, Analysis and Forecast 2016 – 2022”.
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Increase in the prevalence rate of chronic obstructive pulmonary disease is expected to urge the augmentation of the pulse oximeter market over the years to come. COPD has currently rated the fourth most common specific cause of death globally and predicted to be the third by 2030, in the absence of interventions that address the risks – especially tobacco smoking, exposures to combustion products of biomass fuels and environmental pollution. The burden of COPD has been reported to be high in some high-income countries, particularly due to the high prevalence of smoking and sedentary lifestyle. For instance, in 2000 and 2010, about 4%–10% of adults were diagnosed with nonreversible and progressive airway obstruction (a basic feature of COPD) in population-based surveys across many European countries, in which smoking indicated a major risk. Thus, in turn, is expected to have a positive impact on the pulse oximeter market. However, high cost may hinder the growth of this market. Nonetheless, unmet medical needs and presence of large consumer base are expected to offer lucrative opportunities to the leading players over the next few years.
Based on Product type, the market can be segmented into handheld, fingertip, wrist-worn and bedside pulse oximeter. A handheld pulse oximeter was the major segment and it accounted for a maximum share of total revenue generated in 2016. Bedside pulse oximeter, fingertip, and wrist-worn are fastest growing segments in this market. Handheld and bedside pulse oximeter are likely to witness the fastest growth in the coming years owing to increasing demand for monitoring devices in surgical procedure all around the world. Fingertip and wrist-worn pulse oximeter where the leading segment on account of increased sales of oximeter is expected to drive the market growth in the near future.
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North America emerged as the largest market for pulse oximeter market and it accounted for around 40% market share of total revenue generated in 2016. The dominance of North America is due to increased prevalence of COPD. According to WHO in the United States about 12.7 to 14.7 million adults have COPD. Moreover, increasing patient pool of obstructive sleep apnea, increasing obesity accompanied the growth in this region. According to statistics, estimated 18 million Americans suffer from sleep apnea. This denotes that approximately 1 in every 15 Americans, or 6.62% of the total American population have a case of sleep apnea. Furthermore, the presence of key market players, wide usage of the device of pulse and oxygen saturation in nursing homes, hospitals, sports and exercise facilities is driving the growth in this market. Population being more aware of the benefits of medical devices adoption of portable medical devices is augmenting the growth in this region.
Europe is likely to be the second largest regional market and is expected to show strong growth in the years to come. Europe pulse oximeter market is driven by rising advanced healthcare infrastructure, higher demand for quality products and increasing adoption of medical devices for treatment and prevention of diseases. The U.K. represents the largest pulse oximeter market in this region. The growth in this market is owing to easy availability of the device and good economic condition. In addition government reimbursement policies also promote the growth of this market. For instance, pulse, oximeter has become a standard monitoring device in hospitals mandatory in many countries in Europe.
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Asia Pacific is expected to grow at the fastest rate. The growth in the market is led by rising geriatric population, growing disposable income, rising consumer spending towards healthcare in emerging economies such as China, India. Rising awareness regarding the use of medical devices and measures taken by government bodies in the adoption of monitoring devices in hospitals are the other key drivers for the market in the Asia Pacific. Increasing healthcare industry in Brazil and rest of Latin America is anticipated to fuel the market growth in the region. Middle East & Africa is estimated to witness steady growth during the forecast period.
Latin America was emerging market with rising healthcare infrastructure in this region. Brazil and rest of Latin America are anticipated to fuel the market growth in coming years.
Some of the key players operating in the market such as 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, Zensorium, Meditech Equipment Co., Ltd., Nihon Kohden Corporation and others.
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This report segments the global pulse oximeter market as follows:
Global Pulse Oximeter Market: Product Type Segment Analysis
- Bedside
- Handheld
- Fingertip
- Wrist-worn
Global Pulse Oximeter Market: End User Type Segment Analysis
- Hospitals
- Ambulatory surgery centers
- Diagnostic care centers
- Home-care settings
- Others
Global Pulse Oximeter Market: Regional Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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