Global Market for Pulse Oximeters is Projected to Reach US$2.3 Billion by 2020

Growing Need for Pulse Oximetry Testing in New Surgical Specialty Facilities Drives the Pulse Oximeters Market, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Pulse Oximeters markets. Global market for Pulse Oximeters is projected to reach US$2.3 billion by 2020, driven by growing need for pulse oximetry testing in new surgical specialty facilities as well as in general admission for continuous patient monitoring.

Pulse oximetry, a part of the respiratory care devices market, is indispensable in modern clinical armamentarium. Pulse oximeters measure oxygen saturation levels of arterial hemoglobin and enable physicians in early detection of patient distress. The device improves patient’s safety margins by providing vital information regarding blood oxygen levels, displaying SpO2, pulse rate, signal strength and pulse amplitude index. Increasing awareness, enhancement in healthcare worker efficiency through the adoption of improved and reliable detection algorithms, and high prevalence of diseases that require monitoring are driving growth in the market. Future growth in the market will be driven by advancements in technology and expansion in clinical applications such as in surgery, anesthesia, critical care, transport, childbirth, neonatal, and pediatric care. Growth in the alternate care market, increasing use in general care, and improvements in motion tolerant technology are expected to drive growth in the market. Strong potential also exists due to the lower penetration of pulse oximeters in hospitals in developing countries, where pulse oximetry is seen as a luxury, rather than a necessity. Expanding global population and rising proportion of the elderly also contribute to the increased demand for pulse oximeters. 

Pulse oximeters are undergoing a sea change as they now incorporate improved flexibility and new, customized capabilities. Further, increasing demand for small size and portable pulse oximeters is encouraging the popularity of wireless technology. As customers prefer wireless, easy to carry, handheld pulse oximeters, companies such as Masimo and Zensorium are spearheading the launch of iPhone supported oximeters such as iSpO2 and Tinke. 

As stated by the new market research report on Pulse Oximeters, the United States represents the largest market, while Asia-Pacific is forecast to emerge as the fastest growing market worldwide, with a CAGR of 10.4% over the analysis period. Key factors driving growth in the region include rapid economic and social development, increased healthcare awareness, rising prevalence of chronic diseases, growing elderly population, and government investments on healthcare infrastructure development, among others. Product-wise, sensors continue to sustain its leadership position, primarily gaining from multiyear sensor contracts.

Key players covered in the report include CAS Medical Systems Inc., Covidien Plc, Masimo Corporation, Nihon-Kohden Corp., Nonin Medical Inc., Opto Circuits Ltd., Criticare Systems Inc., Mediaid Inc., Spacelabs Healthcare Inc., Philips Healthcare, and Welch Allyn Inc., among others.

The research report titled “Pulse Oximeters: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in US dollars for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World. The global and regional markets are also analyzed by product segments such as Pulse Oximeter Monitors and Sensors. Pulse Oximeter Monitors market is analyzed by Product Type - Stand-Alone Devices (Bedside Devices and Handheld Devices), and Multiparameter Units. In addition, the report analyzes the global market for Pulse Oximeters Monitors by the following Point-of-Care - Hospital Care (Stand-Alone Devices and Multiparameter Units) and Alternate Care (Stand-Alone Devices and Multiparameter Units).