New York, United States, Mon, 31 Jul 2023 06:13:38 / Comserve Inc. / -- The global pulse oximeter market is expected to garner a large revenue by growing at a CAGR of ~6% throughout the forecast period, i.e., 2023 – 2033
Research Nester published a report titled “Pulse Oximeter Market: Global Demand Analysis & Opportunity Outlook 2033″ which delivers detailed overview of the global pulse oximeter market in terms of market segmentation by type, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global pulse oximeter market is expected to garner a large revenue by growing at a CAGR of ~6% throughout the forecast period, i.e., 2023 – 2033, owing to the surging number awareness about the importance of pulse oximeters due to COVID-19 pandemic, increasing availability of premium quality medical products and growing prevalence of heart diseases such as hypertension, diabetes and chronic obstructive pulmonary disease.
The market is segmented by type and end user. On the basis of type, the handheld segment is anticipated to grab the largest share during the forecast period accounting to the ease of usage of these products during emergencies and escalating cases of stroke globally. Additionally, the fingertip segment is expected to witness a significant growth on the back of high accuracy, precision and compactness of these oximeters.
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Regionally, the pulse oximeter market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. North America is anticipated to grab the largest market share during the forecast period ascribing to the increasing awareness regarding monitoring respiratory vitals and strong healthcare infrastructure in the region. Asia Pacific is projected to witness the highest market growth during the forecast period, which can be attributed to the hike in COVID-19 cases in India, Iran and Indonesia, and rising investments of industry players in the region.
Rising Sales of Pulse Oximeters in the Wake of COVID-19 Pandemic to Expand Market
Since the inception of coronavirus pandemic, the demand for at-home diagnostic and health monitoring products has witnessed a notable hike. These devices include digital thermometers, blood pressure monitors and pulse oximeters. Furthermore, oximeters are capable of offering accurate level of oxygen in the blood, which in turn is projected to drive increasing sales of this device in the near future.
However, increasing availability of inaccurate oximeters in under-developed countries is expected to operate as key restraint to the growth of the pulse oximeter market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global pulse oximeter market which includes company profiling of Koninklijke Philips N.V., Omron Healthcare, Inc., GENERAL ELECTRIC COMPANY, Smiths Group plc., Messe Dusseldorf GmbH, Masimo Corporation, Medtronic Private Limited, VYAIRE MEDICAL, INC., Nonin Medical, Inc., CAS Medical Systems, Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the pulse oximeter market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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