DUBLIN--(BUSINESS WIRE)--The "Pulse Oximeter Market Research Report: By Type, Sensor Type, Patient Type, End User, Geographical Outlook - Industry Trends and Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
In 2018, the global pulse oximeter market reached a value of $1,979.0 million and is expected to attain $3,177.7 million in 2024, advancing at an 8.3% CAGR during the forecast period (2019-2024).
The market is growing due to the increasing government initiatives, rising number of patent approvals and product clearance, growing number of medication error cases, and surging incidences of targeted diseases. A pulse oximeter is utilized for ascertaining the saturation level of oxygen in blood and pulse rate.
One of the major driving factors of the pulse oximeter market is the growing number of medication error cases, which are leading to the rising risks for patients and healthcare providers. In order to overcome this issue, the government agencies around the world are encouraging hospitals and other healthcare settings for implementing advanced technologies to monitor the oxygenation level of patients. Pulse oximeter is one of the most significant monitoring tools, which is why the government is pushing the utilization of these devices to provide better service to the patients.
Another factor resulting in the growth of the pulse oximeter market is the rising incidences of targeted diseases. Pulse oximeter has emerged as a highly useful device for the evaluation of patient's oxygenation status and is used widely in different healthcare settings for different types of people that are being admitted in them. These devices are required by patients suffering from multisystem trauma, apneic condition, drowning condition, cardiac arrest, and sickle-cell crises. Moreover, the increasing burden of chronic diseases is further leading to the rising demand for pulse oximeters for efficient monitoring of patients.
The rising adoption of home-care pulse oximeter devices is a key trend in the pulse oximeter market. Due to the technological advancements in medical devices industry, the usage of sensor-based pulse oximeters is rising in homecare settings. This particularly caters to the needs of the geriatric population, which is why many players operating in the market are focusing on developing simple, home-based pulse oximeters, other than the conventional types. Various types of pulse oximeters, such as handheld, wrist-worn, and fingertip, are accepted among the geriatric population for monitoring their health regularly.
Hence, the increasing incidences of targeted diseases and rising number of medication error cases are contributing to the growth of the market.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
3.1 Voice of KOLS
Chapter 4. Introduction
4.1 Definition of Market Segments
4.2 Market Dynamics
4.3 Porter's Five Forces Analysis
4.4 Regulatory Scenario for Pulse Oximeter
4.5 Technological Advancements
Chapter 5. Global Market Size and Forecast
5.1 By Type
5.2 By Sensor Type
5.3 By Patient Type
5.4 By End User
5.5 By Region
Chapter 6. North America Market Size and Forecast
6.1 By Type
6.2 By Sensor Type
6.3 By Patient Type
6.4 By End User
6.5 By Country
6.5.1 U.S. Market Size and Forecast
6.5.2 Canada Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 Competitive Analysis of the Key Players
11.2 List of Other Players
11.3 Global Strategic Developments of Key Players
Chapter 12. Company Profiles
12.1 General Electric Company
12.2 Koninklijke Philips N.V.
12.3 Masimo Corporation
12.4 Nonin Medical Inc.
12.5 Smiths Medical
12.6 Spacelabs Healthcare Inc.
12.7 Nihon Kohden Corporation
12.8 Halma Plc
12.9 Contec Medical System Co. Ltd.
12.10 Medtronic plc
12.11 Opto Circuits India Ltd.
12.12 Edwards Lifesciences Corporation
12.13 Drgerwerk AG & Co. KGaA
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