Asia Pacific is Likely To Witness Highest Growth Rate In Pulse Oximetry Market
The global pulse oximetry market is expected to witness a CAGR of 6.2% to reach revenue of $2.38 billion by 2025
Bangalore, India, February 12, 2019: With its recently published study “Global Pulse Oximetry Market– Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global market for pulse oximetry will continue to grow, owing to the rising prevalence of respiratory diseases, inexpensive nature of the devices, and government endorsement to use pulse oximeters. Technological advancements in the equipment and growing demand for home care settings are providing an opportunity for the market growth. However, limitations of pulse oximetry, availability of substitutes, stringent regulations for approval, and mandatory licensing for practitioners are hampering the market growth.
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Pulse oximetry finds significant usage in home care settings due to user-friendly properties and portability. The use of telemedicine has increased the demand for home care settings, making it the fastest growing segment among the end-users of the pulse oximetry market. This trend is expected to continue during the forecast period 2018–2025, fueling the pulse oximetry market growth at a CAGR of 6.2% to reach a value of $2.38 billion by 2025.
North America dominates the pulse oximetry market, followed by Europe and Asia Pacific. The large population base and sturdy manufacturing facilities in relatively improving economic conditions are the key contributors that make Asia Pacific the leader in this market. The dominance of North America will continue during the forecast period due to the acceptance of advancements in the technology and availability of the reimbursement for the product.
The table-top pulse oximeters segment contributed majorly toward the Pulse Oximetry Market Growth. The next significant share of the Pulse Oximetry Market is attributed by finger-tip pulse oximeters due to increased use of the device in home care settings. Smart technology integration with these devices has increased the demand for fingertip pulse oximeters in the market.
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“The quantification of oxygen saturation has become vital in the modern-day patient monitoring conditions. The advancements in the technology, such as light-emitting diodes (LEDs), reduced size of photodetectors, and use of microprocessors, have permitted the advancement of the latest generation pulse oximeters that are suggestively inexpensive, small sized, and user-friendly. The competitors in the market are highly investing in R&D of such technologically advanced pulse oximeters, thereby fostering the market growth.” – Rikitha K Murthy, Research Analyst, Infoholic Research
Key Insights of the Report Include
- Major Product Areas
- Table-top/Bedside Pulse Oximeters
- Fingertip Pulse Oximeters
- Hand-held Pulse Oximeters
- Wrist-worn Pulse Oximeters
- Key end-users
- Ambulatory Service Centers
- Home Care
- Industry outlook
- Market trends