Global Pulse Oximetry Market 2018-2022
About Pulse Oximetry
Pulse oximetry is a noninvasive method for accurately estimating the oxygenation level (oxygen saturation) of the blood. Pulse oximetry tests are performed using pulse oximeters. The device used for the measurement of oxygen level in the blood is known as a pulse oximeter.
Technavio’s analysts forecast the global pulse oximetry market to reach USD 2,194.72 million during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global pulse oximetry market for 2018-2022. To calculate the market size, the report considers the revenue generated from pulse oximetry.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Pulse Oximetry Market 2018-2022
Technavio recognizes the following companies as the key players in the global pulse oximetry market: GE Healthcare, Koninklijke Philips, Masimo, Medtronic, Smiths Medical, and Schiller
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Initiatives to increase access to pulse oximetry. Many public and private organizations have launched initiatives to improve access to low-cost, accurate pulse oximetry. For instance, the LifeBox Project aims to equip the world's operating theaters with pulse oximeters. For this they have developed a low-cost pulse oximeter ($250) that meets the US FDA accuracy standards, provided along with an adult probe, a pediatric probe, a rechargeable battery, training materials, courier delivery to anywhere in the world, and a 2-year warranty. Kenek pulse oximeters offered by LionsGate”
According to the report, one of the major drivers for this market is Increasing prevalence of chronic respiratory diseases and rising number of surgeries. Pulse oximetry is used for various indications such as endotracheal intubation, cardiac arrests, procedural sedation, asthma/ COPD, respiratory complaints, acute respiratory distress syndrome (ARDS), sleep disorders/sleep apnea, and shunts in cyanotic heart diseases. The prevalence of chronic respiratory disorders such as COPD, asthma, and OSA is increasing at a significant rate in both developed and developing countries.
Further, the report states that one of the major factors hindering the growth of this market is High cost of respiratory measurement tests and devices. The high cost of respiratory measurement devices is limiting their adoption by the end-users. For instance, a standard commercial bedside/ desktop pulse oximeter costs approximately $1000. The relatively high initial costs of pulse oximetry technology are a major barrier for its adoption in developing countries.
GE Healthcare, Koninklijke Philips, Masimo, Medtronic, Smiths Medical, and Schiller
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