Chili, New York Mar 14, 2019 (Issuewire.com) - Pulse oximeter is a noninvasive device used for monitoring a person’s oxygen saturation (SO2). In its most common application mode, a sensor device is placed on thin part of the patient body, which is usually a fingertip or earlobe in adults and in case of infants it is placed across a foot. The pulse oximeter displays the percentage of blood that is loaded with oxygen. Pulse oximeter specifically measures the percentage of haemoglobin, the protein in blood that carries oxygen. The pulse oximeter is particularly convenient for continuous measurement of blood oxygen saturation noninvasively. The pulse oximeter can be used in any setting where patient’s oxygenation is not stable such as in intensive care, recovery, operating, emergency and hospital ward, pilots in unpressurized aircraft, the patient at high altitude for assessment of any patient’s oxygenation and to determine whether there is the need for supplemental oxygen. Furthermore, the simplicity of use and ability to provide continuous and immediate oxygen saturation values makes pulse oximeters of critical importance in emergency medicine or first aid.
Furthermore, the simplicity of use and ability to provide continuous and immediate oxygen saturation values makes pulse oximeters of critical importance in emergency medicine or first aid. The pulse oximeter is useful for patients with a cardiac problem, respiratory problem and chronic obstructive pulmonary disease.
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Moreover, the pulse oximeter is used for diagnosis of sleeping disorders such as hypopnea and apnea. The pulse oximeter with portable battery is useful for pilots operating in a non-pressurized aircraft where supplemental oxygen is required. Pulse oximeter are also used extensively used by mountain climbers and athletes whose oxygen level may decrease at high altitude or with an extensive workout.
Driving forces for the growth of pulse oximeter market in the near future:
Enhancement in healthcare workers to efficiently adapt the improved and reliable detection algorithms, increasing awareness and high prevalence of diseases that require continuous monitoring are the driving forces of pulse oximeter market.
Furthermore, the pulse oximeter market is also driven by technology advancements and also an expansion of clinical applications such as in critical care, childbirth, neonatal, surgery, anaesthesia and pediatric care. Increasing demand for pulse oximeter is mainly linked to its portability, connectivity, and small size.
Moreover, an increase in the aging population according to the International Journal of Health Policy and Management showed a periodic increase during 2004-2012 of aging-associated increase in hospitalization, which was pegged at 1.03 million globally. This, in turn, is expected to favour the growth of the pulse oximeter market. Standardization of patient monitoring in clinical practice creates a highly conducive environment for the growth of the global pulse oximeter industry. The growing use of alternate care facilities and development in R&D also drives the market of the pulse oximeter. However, according to the National Sleep Foundation, in 2012, around 40 million people in the U.S. suffered from a chronic sleep disorder which suggests the increased use of pulse oximeter.
Regional growth engines of the pulse oximeter market
According to Centers for Disease Control and Prevention (CDC) and American Academy of Pediatrics (AAP) in September, 2014 mandatory critical congenital heart defects (CCHD) screening for the newborn is a key reason for the dominance of the U.S for the market of pulse oximeter market. The Asia Pacific is assumed to observe the fastest growth in the near future due to the increase in investment of industry player in this region is a key reason for the growth of the market. According to The European Sleep Apnea Database (ESADA), of March 2014, the number of enrollment of patients has reached to 15,956 along with 5313 follow up visits which show that pulse oximeter market is rising in Europe
Major players operating in the pulse oximeter market
There are few big brands that are expected to favour the growth of pulse oximeter market. The Apple watch used pulse oximeter technology for its heart rate monitor which has increased the market size of the pulse oximeter. Key players operating in pulse oximeter market are CAS Medical Systems Inc., Covidien Plc, Masimo Corporation, Nihon-Kohden Corp., Nonin Medical Inc., Opto Circuits Ltd., Criticare Systems Inc., Mediaid Inc., Spacelabs Health care Inc., Philips Healthcare and Welch Allyn Inc.
Pulse Oximeter Market Taxonomy
By Product Type
Table-top/Bedside Pulse Oximeters
Fingertip Pulse Oximeters
Wrist-worn Pulse Oximeters
Handheld Pulse Oximeters
Pediatric Pulse Oximeters
By End Users
Hospitals
Healthcare Facilities
Ambulatory Surgical Centers
Homecare
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