The global pulse and regional oximeters market was valued at $2,101.0 million in 2018 and is projected to reach $3,365.0 million in 2024, progressing at a CAGR of 8.2% during the forecast period (2019–2024).
Based on product type, the pulse oximeter category is expected to witness the faster growth, with a CAGR of 8.6%, during the forecast period, owing to the rising demand for these devices and increasing prevalence of various types of chronic diseases.
Increasing Number of Acquisitions is a Key Trend in Pulse and Regional Oximeters Market
An increasing number of acquisitions and collaborations among players, to expand their footprint and consumer base, is being observed in the pulse and regional oximeters market. Market players, such as Edwards Lifesciences Corporation and Koninklijke Philips N.V., are actively involved in strategic activities to expand their product portfolio and market share. For instance, in April 2019, Edwards Lifesciences Corporation acquired CAS Medical Systems Inc. (CASMED) for approximately $100 million. The objective of this acquisition was to pair CASMED's FORE-SIGHT non-invasive cerebral oxygenation technology with Edwards Lifesciences Corporation’s HemoSphere advanced hemodynamic monitoring platform. The assembly helps create enhanced recovery tools and predictive analytics capabilities for clinics.
Pulse and Regional Oximeters Market is Likely to Witness Significant Progress due to Surging Incidence of Targeted Diseases
Pulse and regional oximeters have emerged as useful devices for the evaluation of patients’ oxygenation status and are used extensively in various departments or units within healthcare settings. The demand for pulse and regional oximeters is increasing on account of the different types of patients that are being admitted in hospitals and other settings. These oximeters are needed for patients with cardiac arrest, multisystem trauma, apneic condition, and sickle-cell crisis. The wide application areas of the oximeters are expected to drive the growth of the pulse and regional oximeters market in future. In addition, the surging burden of chronic diseases across cardiovascular, respiratory, and neurological areas is resulting in the rising demand for pulse and regional oximeters for efficient clinical monitoring of patients.
Segmentation Analysis of Pulse and Regional Oximeters Market
Geographical Analysis of Pulse and Regional Oximeters Market
Globally, North America is expected to account for the largest share in the pulse and regional oximeters market in 2024, followed by Europe. Together, North America and Europe are expected to account for a 68.0% market share in 2024. This can be mainly attributed to the presence of established players and rising geriatric population, along with the increasing awareness among people regarding pulse and regional oximeters.
Other regions, such as APAC, LATAM, and MEA, also hold considerable shares in the pulse and regional oximeters market, on account of the rapid adoption of these devices, due to the increasing awareness among consumers about their usage.
Competitive Landscape of Pulse and Regional Oximeters Market
The global pulse and regional oximeters market is fragmented in nature, with the presence of several giant players, such as General Electric Company, Medtronic Plc, Koniklijke Philips N.V., Edwards Lifesciences Corporation, Drägerwerk AG & Co. KGaA, Nihon Kohden Corporation, and Masimo Corporation.
Browse report overview with detailed TOC on "Pulse and Regional Oximeters Market Research Report: By Product Type (Pulse Oximeter, Regional Oximeter), Sensor Type (Reusable, Disposable), Patient Type (Adult, Neonate, Pediatric), End User (Hospitals, Pre-Hospital Care and Emergency Medical Service Providers, Clinics, Fire Rescue Departments, Emergency Management Care Settings, Homecare Settings), Connectivity (Nonconnected, Connected) - Industry Analysis and Growth Forecast to 2024" at:https://www.psmarketresearch.com/market-analysis/pulse-and-regional-oximeters-market
The players in the market are adopting several strategic measures, such as product launches and collaborations and partnerships, to maintain their position. For example, in in March 2019, Masimo Corporation received the U.S. Food and Drug Administration (FDA) clearance for its RAD-67 pulse co-oximeter. The device is equipped with the spot-check next-generation noninvasive total hemoglobin (SpHb) monitoring technology and the rainbow DCI-mini reusable sensor. The device provides portable spot-check monitoring measurements of oxygen saturation, which makes it a single-device solution in multiple clinical and non-clinical settings.
Some other important players operating in the pulse and regional oximeters market are Smiths Medical Inc., Opto Circuits Limited, Nonin Medical Inc., Halma Plc, and Spacelabs Healthcare.
Pulse and Regional Oximeters Market Segmentation
Market Segmentation by Product Type
Market Segmentation by Sensor Type
Market Segmentation by Patient Type
Market Segmentation by End User
Market Segmentation by Connectivity
Market Segmentation by Region