Pulse Oximeters Market Size & Forecast By Type (Fingertip, Handheld, Others), By End-users (Hospitals & Healthcare Facilities, Homecare), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Trend Report

Pulse Oximeters Market Size & Forecast By Type (Fingertip, Handheld, Others), By End-users (Hospitals & Healthcare Facilities, Homecare), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Trend Analysis From 2013 - 2025

Published: February 2017  |  100 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-766-7

Industry Insights

The global pulse oximeters market size was valued at USD 1.5 billion in 2015 and is projected to grow with CAGR of 6.15% over the forecast period. The huge burden of healthcare costs and lack of defined reimbursement policies push patients to opt for home care. This boosts the demand for remote patient monitoring devices, which results in increased demand for pulse oximeters.

Technological advancements and their rapid approval are the key drivers of the market. For instance, in February 2014, Masimo launched iSpO2 pulse oximeter, which is compatible with Android devices. Moreover, in May 2014, the European regulatory body approved Masimo’s iSpO2 Rx Pulse Oximeter, which is compatible with Android and Apple operating systems. In June 2015, the company also received CE mark for MightySat Rx pulse oximeter.

The industry is also witnessing dynamic merger and acquisition activities. For instance, In November 2013, CareFusion Corp. acquired Vital Signs division from GE Healthcare from U.S., China, and other locations. The transaction was worth USD 500 million and was expected to expand the size of specialty disposable business.

U.S. pulse oximeters market by type, 2013 - 2025 (USD Million)

U.S. pulse oximeters market

Type Insights

Based on the type, the market is segmented into fingertip, handheld, and other types of oximeters. The handheld pulse oximeters dominated the market in 2015 due to rising number of surgeries and use of vital stats monitoring devices during every procedure. Moreover, early detection of chronic diseases helps in treatment and can reduce further complications. Furthermore, monitoring the risk factors can also be beneficial to avoid the occurrence of diseases. Rising awareness about the importance of monitoring is anticipated to boost the market.

Fingertip pulse oximeters are also gaining popularity and is the fastest growing segment. The noninvasive nature of the device makes it a preferred option, especially for infants and neonates. These devices are battery operated and available in various memory capacities. Innovative additions to the oximeter technology is a driving factor of this segment. Additional features such as Bluetooth, alarm system, extensive memory, and easy transfer of data increase the efficiency of the product.

Industry players introduce new products with additional features to remain in the competition. For instance, In June 2015, Masimo also launched MightySat Rx Pulse Oximeter, which was compatible with smartphones and tablets. The product helps clinicians track up to 12 hours of the patient’s data, thereby, helping them monitor the patient remotely.

End-users Insights

Hospitals and other healthcare facilities segment dominated the market in 2015. This can be majorly attributed to the presence of a large patient base with target diseases such as COPD, hypertension, sleep apnea, and cardiac arrhythmia, thereby boosting the demand for vital stats monitoring devices.

However, the homecare segment is estimated to increase with a rapid rate over the forecast period. The use of pulse oximeters in hospice and palliative care is mainly to maintain patient comfort and to improve the quality of life to aid conventional treatment, especially in the case of pulmonary fibrosis. Patients in hospice care are monitored for oxygen levels in case of emergencies, mostly by fingertip or wrist pulse oximeters.

Pulse oximeters market, by end-users, 2015

Pulse oximeters market

Regional Insights

North America dominated by market share in 2015 closely followed by Europe. Pulse oximeter screening can detect problems and can avoid the risk of serious complications in the first few weeks of life of the infants. This has resulted in making pulse oximetry mandatory in newborn screening before their discharge from hospitals in the U.S. The American Academy of Pediatrics had recommended pulse oximeter to be a part of newborn screening for CCHD since 2011, which was implemented in 2014. This is anticipated to be a key reason to drive the market in this region over the forecast period.

Asia Pacific is anticipated to observe the fastest growth over the coming years. This can be attributed to the increasing awareness about patient safety during surgery and anesthesia, which has compelled governments & hospitals to include pulse oximetry in their treatments. Institutes such as the Indian Society of Anesthesiologists advocate the use of pulse oximeters during any procedure wherein the patient is anesthetized.

Competitive Insights

There is steady growth in the development of new products as many companies launch their products with continuous improvement in quality at various geographical locations. In January 2017, Masimo launched two patient monitoring products in India, namely, Rad-97 Pulse-CO Oximeter and SedLine Brain Function Monitoring. These products are expected to improve the patient monitoring capabilities of clinicians in the region.

Merger & acquisitions and approval of products by concerned regulatory bodies of different countries are also some of the key strategic initiatives taken by major industry players. For instance, Masimo also received FDA clearance for forehead sensor in late 2016 and CE mark for RAS-45 in mid-2016.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2013 - 2015

Forecast period

2016 - 2025

Market representation

Revenue in USD Million and CAGR from 2016 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America,& MEA

Country scope

U.S., Canada, UK, Germany, Japan, China, Brazil, Mexico, &South Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors & trends

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Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2013 to 2025. For the purpose of this study, Grand View Research has segmented the pulse oximeters market on the basis of type, end-users, and region:

  • Type Outlook (Revenue, USD Million; 2013 -2025)

    • Fingertip pulse oximeters

    • Handheld pulse oximeters

    • Others

  • End-users Outlook (Revenue, USD Million; 2013 -2025)

    • Hospitals and other healthcare facilities

    • Homecare

  • Regional Outlook (Revenue, USD Million; 2013 -2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

    • Asia Pacific

      • Japan

      • China

    • Latin America

      • Brazil

      • Mexico

    • MEA

      • South Africa

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