DUBLIN, October 22, 2021--(BUSINESS WIRE)--The "North America Pulse Oximeter Market Outlook, 2026" report has been added to ResearchAndMarkets.com's offering.
The report categorizes the market to forecast the revenues and analyze the trends in each of the following segments: based on product type (Fingertip, Handheld & Others), based on end-users (Hospital and Health Care Facilities & Home Care), based on countries & major companies. The Pulse Oximeter market has been revamped considering the COVID-19 impact.
The North American region dominated the global market, ever since 2015 which was valued at USD 0.59 Billion in 2015. Growth in the market is driven by the high prevalence of respiratory diseases in the region, along with the growing geriatric population and the increasing incidence of chronic diseases. Post the COVID pandemic, the market is expected to witness market growth of 6.3% throughout the forecasted period of 2021-2026.
Similar to the global trend, the North American market is led by the handheld segment, accounting for a value of USD 0.34 Billion in the year 2015. Increasing emphasis on patient safety during pandemics and demand for consistent vital stats monitoring is expected to drive the growth of the regional market. When compared to conventional bedside pulse oximeters, portable fingertip devices have the advantages of cost-effectiveness, high portability, ease of use, and battery operation. Through the forecasted period, the fingertip oximeter segment is expected to grow at a rate of over 8%.
Based on end-users, the pulse oximeters market has been segmented into hospitals & home care settings, of which the hospital segment accounts for the largest share of nearly 90% in 2020. This can be attributed to the wide adoption of pulse oximeters for the evaluation of oxygen saturation in patients. Currently, with the surge in COVID-19 cases, there is a rising focus on self-respiratory monitoring, which gave a push for the adoption of the pulse oximeter. This, in turn, is expected to propel the market growth of the revenue from the home end-user segment to a CAGR of over 13% in the next five years.
The surge in the geriatric population and the subsequent increase in the prevalence of respiratory diseases, technological advancements, the presence of advanced healthcare infrastructure in the US and Canada, and the increased funding for research and development are also driving the growth of the pulse oximeters market in the region. The US dominates the regional market, while all the other countries barely make a single-digit contribution in the market. The Food and Drug Administration (FDA) requires that all pulse oximeters marketed for medical use in the United States have been tested and certified. Moreover, the increasing demand for patient monitoring in non-hospital settings with an increasing number of surgical procedures and upcoming opportunities in point-of-care testing is expected to offer significant growth opportunities for market players during the forecast period. Mexico lacks any mandatory norms for newborn screening, yet is one of the largest medical device exporters, with India being its main importer. This factor implies that Mexico can be a potential market to invest in the pulse oximeter market since there are no strict manufacturing regulations for pulse oximeters in Mexico in the projected period.
Key industry players are undertaking other major initiatives, such as licensing agreements and strategic partnerships, to strengthen their market presence. The market leaders are introducing new products with additional features to sustain them in the competitive market. The Koninklijke Philips NV & CASMED (Edwards Lifesciences Corporation) together accounted for slightly higher than 10% of the total global market share. Other major players are Covidien (Medtroni PLCC), Nihon Kohden Corporation, Smiths Medical International, Welch Allyn INC, Spacelabs Healthcare, Meditech, GE Healthcare, etc.
Market Size by Value for the period (2015-2026F)
Market Share by Product type (Fingertip, Handheld & Others)
Market Share by End User (Hospital and Health Care Facilities & Home Care)
Market Share by Country
Market Share by Company
Key Topics Covered:
1. Executive Summary
2. Report Methodology
3. Global Pulse Oximeter Market Outlook
4. North America Pulse Oximeter Market Outlook
6. Market Dynamics
7. Market Trends and Developments
8. Company Profiles
8.1. Beckton Dickinson
8.2. CASMED (Edwards Lifesciences Corporation)
8.3. Drager Medical Systems Inc.
8.4. GE Healthcare
8.5. Covidien (Medtroni PLCc)
8.7. Koninklijke Philips NV
8.9. Nihon Kohden Corporation
8.10. Nonin Medical Inc
8.11. Smiths Medical Internation
8.12. Welch Alyn Inc
8.13. Company Overviews
8.13.1. CareFusion Corp
8.13.2. Contec Medical Systems Co., Ltd
8.13.3. Edan Instruments Inc.
8.13.4. Korrida Medical System
8.13.5. Microtek International Private Limited
8.13.7. Rossmax International Ltd
8.13.8. Spacelabs Healthcare
9. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/tdvva5
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