Rising Asthma Prevalence to Push the Global Pulse Oximeter Market to Gain $2616.7 Million by 2028

As per an analysis by Triton Market Research, the global pulse oximeter market, which generated $1606.9 million in revenue 2019, will expand at a CAGR of 5.57% by 2028.

A study by Triton Market Research with the title ‘Global Pulse Oximeter Market,’ covers the Global Analysis and Forecast for 2019-2028 by Component (Pediatric Pulse Oximeter, Table-top/Bedside Pulse Oximeter, Fingertip Pulse Oximeter, Wrist-worn Pulse Oximeter, Handheld Pulse Oximeter), Industrial Vertical (Hospitals & Other Healthcare Facilities, Homecare), and by Geographical Region (Europe, North America, Middle East and Africa, Latin America, Asia-Pacific).

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According to the report, the global pulse oximeter market is predicted to generate a revenue of $2616.7 million by 2028, progressing with a CAGR of 5.57% in the estimated years between 2019 and 2028.

A pulse oximeter is a device used in measuring vital health parameters like the pulse rate, heart rate and oxygen rate. It is often used in hospitals and other critical care settings like emergency rooms.

The surging healthcare expenditure across the globe is anticipated to drive the global pulse oximeter market growth. Besides, there is an increased prevalence of chronic diseases like COPD, which is creating a higher demand for the oximeters, in order to monitor the patient’s health parameters. This real-time health data can be remotely sent to the doctors offering timely intervention. These factors are likely to aid the studied market growth.

However, the lack of awareness regarding pulse oximeter devices is hampering the global market growth. Due to inadequate funds and cognizance regarding advanced pulse oximeters, most of the clinicians in low- and middle-income regions still prefer the conventional method of patient monitoring.

The pulse oximeter market is primarily segmented as component and industry vertical. The first segment, component, divides into pediatric pulse oximeter, table-top/bedside pulse oximeter, fingertip pulse oximeter, wrist-worn pulse oximeter and handheld pulse oximeter. The second segment, industry vertical, includes hospitals & other healthcare facilities and homecare.

As per the regional landscape, the Middle East and Africa is estimated to be the fastest-growing region, globally, for the pulse oximeter market, over the forecast period. In the United Arab Emirates, a high incidence of asthma is witnessed, which is likely to create lucrative growth opportunities for the companies in the studied market in the forecast period. As per the Dubai Health Authority, over 14% of the UAE population reported having asthma, in the year 2016. This number is anticipated to increase further in the future. The rising cases of these respiratory diseases indicate an increased demand for the application of pulse oximeters in the UAE. Moreover, the ongoing researches towards the advancement of pulse oximeters are also favoring the market growth in the region.

Some of the eminent players in the pulse oximeter market are Cas Medical Systems Inc (Acquired by Edwards Lifesciences), Spacelabs Healthcare, Medtronic, Zensorium, Invacare Corporation, Nihon Kohden Corporation, BD (Becton, Dickinson and Company), Opto Circuits Limited, Nonin, MASIMO, GE Healthcare (General Electric Company), Welch Allyn, Omron Corporation, Smiths Medical Group Limited and Koninklijke Philips NV.

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Question & Answer: Pulse Oximeter Market

Question 1: Which factors are anticipated to drive the global pulse oximeter market growth?
Answer: The surging healthcare expenditure across the globe is anticipated to drive the global pulse oximeter market growth. Besides, there is an increased prevalence of chronic diseases like COPD, which is creating a higher demand for the oximeters, in order to monitor the patient’s health parameter. This real-time health data can be remotely sent to the doctors offering timely intervention. These factors are likely to aid the studied market growth.

Question 2: What is hampering the global pulse oximeter market growth?
Answer: The lack of awareness regarding pulse oximeter devices is hampering the global market growth. Due to inadequate funds and cognizance regarding advanced pulse oximeters, most of the clinicians in low- and middle-income regions still prefer the conventional method of patient monitoring.

Question 3: How is the Middle East and Africa region impacting the pulse oximeter market outlook?
Answer: As per the regional landscape, the Middle East and Africa is estimated to be the fastest-growing region, globally, for the pulse oximeter market, over the forecast period. In the United Arab Emirates, a high incidence of asthma is witnessed, which is likely to create lucrative growth opportunities for the companies in the studied market in the forecast period. As per the Dubai Health Authority, over 14% of the UAE population reported having asthma, in the year 2016. This number is anticipated to increase further in the future. The rising cases of these respiratory diseases indicate an increased demand for the application of pulse oximeters in the UAE. Moreover, the ongoing researches towards the advancement of pulse oximeters are also favoring the market growth in the region.

Question 4: Which are some of the eminent players mentioned in the competitive landscape of the pulse oximeter market report?
Answer: Some of the eminent players in the pulse oximeter market are Cas Medical Systems Inc (Acquired by Edwards Lifesciences), Spacelabs Healthcare, Medtronic, Zensorium, Invacare Corporation, Nihon Kohden Corporation, BD (Becton, Dickinson and Company), Opto Circuits Limited, Nonin, MASIMO, GE Healthcare (General Electric Company), Welch Allyn, Omron Corporation, Smiths Medical Group Limited and Koninklijke Philips NV.

Related Report:
Global Airway Clearance System Market

The Global Airway Clearance System Market is estimated to display growth with a CAGR of 4.23%, accumulating $980.5 million by the year 2028, over the forthcoming period 2019-2028.

The rising government initiatives and the upsurge in healthcare expenditure across the globe are significantly driving the global airway clearance market growth. Treatment procedures in the healthcare industry are undergoing immense progress due to the growth in healthcare expenditure. Governments of different regions are implementing several initiatives to increase awareness among people regarding the benefits of early diagnosis of respiratory disorders. For instance, the NHS (National Health Service) and the NAEDI (the Department of Health National Awareness, and Early Diagnosis Initiative) hold national campaigns to spread awareness among the public regarding COPD and asthma symptoms in the United Kingdom. Such factors are likely to aid the airway clearance system market growth.

According to the World Health Organization, in 2017, about 200 million people suffered from COPD and this disease is one of the leading causes of death. The mortality rate due to it is expected to rise by over 30% over the next decade. Besides, asthma affects nearly 235 million people and is also expected to increase further, shortly. The rising cases of both COPD and asthma are estimated to fuel the adoption of smart inhalers for better treatment. This will help the growth of the global airway clearance market in the projected period.

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