Increasing Prevalence of Respiratory Ailments is Propelling the Global Pulse Oximeter Market Growth
"Browse 29 Market Data Tables and 37 Figures spread over 180 Pages, along with an in-depth TOC on the Global Pulse Oximeter Market Forecast 2019-2028."
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A non-invasive device used for surveilling oxygen levels and heart rate of patients is called a pulse oximeter. It gives clinically relevant information with regard to the health status of patients during post-surgery management and diagnosis. It plays an instrumental role in deciding whether the patient needs a ventilator. It is utilized during pre- and post-surgery, emergencies, on-going treatment at hospitals, and home healthcare. It comes in handy for patients suffering from COPD and other respiratory ailments.
Prevailing Respiratory Diseases Fuels Market Growth
The innovations with regard to pulse oximeters are projected to significantly impact market growth. Non-communicable diseases like cancer, chronic lung diseases, diabetes, cardiovascular diseases, etc. have more mortality rate than infectious diseases. According to the WHO, around 3 million people died due to COPD in 2015. The increasing number of COPD cases is estimated to rise in several countries in the near future due to the growing geriatric population and increased smoking activities. COPD can be prevented through timely intervention and diagnosis. Pulse oximetry is the most effective and conventional diagnosis test that is utilized to determine the gravity of respiratory ailment. As a result, the adoption of pulse oximeters is set to grow in the coming years.
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Table-top/bedside pulse oximeter dominated the Type Segment
The bedside pulse oximeters provide accurate readings with precision. For instance, the Masimo SETTM pulse oximetry integrates technology with east handling for safe monitoring of oxygen saturation in challenging situations like low perfusions, intensive ambient light, and strong motions.
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North America is projected to Garner Huge Market Share
North America houses a vast population affected by the PAD. There is also a high prevalence of Congenital Heart Disease (CHD), and Critical Congenital Heart Disease (CCHD). Early diagnosis becomes extremely important when it comes to the reduction of mortality in such cases, thereby propelling the use and importance of pulse oximeters in newborn screening. For patients and outpatients opting for the home setting, the pulse oximeter is considered a reasonable necessity, and it is reimbursed with the right documentation. The favorable reimbursement infrastructure thus contributes to market growth in the region.
Some of the eminent companies, establishing their presence and operations in the market include, Becton, Dickinson and Company, Koninklijke Philips NV, GE Healthcare, Medtronic Plc, General Electric Company, etc. The players have incorporated the product development strategy for enhancing their product portfolio. Several small- and mid-sized companies are engaged in the manufacture of pulse oximeters.
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GLOBAL ANESTHESIA AND RESPIRATORY DEVICES MARKET
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