LONDON--(BUSINESS WIRE)--The global pulse oximetry market size is projected to grow to USD 2.1 billion by 2021, at a CAGR of just above 5% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global pulse oximetry market for 2017-2021. By product type, the market is divided into desktop or bedside, fingertip or portable, handheld, and wrist-worn pulse oximeters.
| Pulse oximetry is a test that is used for the measurement of oxygen saturation in the blood. The high demand for wireless pulse oximeters by clinicians and home users is one of the key driving factors responsible for the growth of the market. |
Technavio’s research study segments the global pulse oximetry market into the following regions:
- Americas
- EMEA
- APAC
Americas: largest pulse oximetry market segment
“The Americas constitute the largest regional segment of the pulse oximetry market, generating over 50% of the overall revenue. The advances in technology, increasing adoption of pulse oximeters in home-care settings, and subsequent smartphone compatible product launches are driving the market growth in the Americas,” says Srinivas Sashidhar, one of the lead analysts in Technavio for patient monitoring devices research.
The market segment is expected to grow at a rapid pace during the forecast period, driven by public awareness programs run by government and non-government organizations. The key vendors in the region are Medtronic, Philips Healthcare, GE Healthcare, and Nonin Medical, who contribute to the revenue generated in the market.
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EMEA: fastest-growing pulse oximetry market segment
“EMEA is projected to be the fastest-growing market segment, with a CAGR of close to 6% over the forecast period. Countries such as Germany, France, Italy, the UK, and Spain are the major contributors to the global pulse oximetry market in EMEA,” says Srinivas.
Medical facilities in Europe adopt vital signs monitoring devices to provide a high quality of healthcare to its citizens. Additionally, the emerging standards for health care by government organizations in the region are driving the growth of advanced patient monitoring systems.
APAC: market segment driven by encouraging governments
APAC provides a gigantic consumer base, and vendors are capitalizing on this by making portable, home-care devices and easily available. The increase in disposable incomes and living standards will boost the market growth in the emerging markets of the region. The growth of the market is enhanced by the governments of several countries in the region by taking positive steps toward the improvement of the healthcare facilities. Economies such as Japan, India, and China present significant opportunities for vendors to expand their product portfolio.
The top vendors in the global pulse oximetry market highlighted in the report are:
- Medtronic
- Philips Healthcare
- Masimo
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