Some of the major players working in the pulse oximeter market are Carefusion Corp, Covidien, Philips Healthcare, GE Healthcare, CAS Medical Systems, Inc., Masimo, Nonin Medical, Inc., Opto Circuits India Ltd., Welch Allyn, Smiths Medical, Zensorium, Spacelabs Healthcare, Nihon Kohden Corporation, Meditech Equipment Co., Ltd., and others. These players are set to propel the development of the global pulse oximeter market.
As per analysts at Zion Market Research, the Global pulse oximeter market was capitalized at almost USD 1,684.0 Million in 2016 and is likely to cross almost USD 2,393.3 Million by end of 2022, developing at a CAGR of 6.2 % from 2017 to 2022.
Rise In The Prevalence Rate Of COPD To Boost The Pulse Oximeter Market
As per analysts at Zion Market Research, rise in the prevalence rate of COPD (chronic obstructive pulmonary disease) is likely to increase the augmentation of the pulse oximeter market in the coming years. Based on studies all over many European nations, smoking was highlighted as a major risk. This, in turn, is likely to have an optimistic effect on the pulse oximeter market. On the other hand, high price might hamper the development of pulse oximeter market.
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Nevertheless, the presence of a large user base and unmet medical needs are likely to provide lucrative chances to the leading companies in the pulse oximeter market over the coming years. Rising efforts to use pulse oximeter by different academic and government bodies is also one of the reasons that will power the development of the pulse oximeter market. For instance, May 2018, Indian Society of Perinatology and Reproductive Biology (ISOPARB) started using oximeter in an effort to lower the maternal mortality, thereby fueling the development of pulse oximeter market.
On the basis of type, the pulse oximeter market can be divided into fingertip, handheld, bedside, and wrist-worn pulse oximeter. Handheld pulse oximeter was the primary division in the pulse oximeter market and it added up for an utmost share of total income created in 2016. Bedside pulse oximeter, wrist-worn, and fingertip are fastest developing sections in pulse oximeter market. Bedside and handheld pulse oximeters are expected to see the quickest development in the pulse oximeter market in the years to come due to the rising requirement for monitoring gadgets in surgical operations all across the world. Wrist-worn and fingertip pulse oximeters were the top sectors in the pulse oximeter market due to rising sales of oximeters. This is likely to drive the growth of pulse oximeter market in the foreseeable future.
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The global pulse oximeter market was dominated by North America and it held almost 40% share of entire income created in 2016. This development can be credited to the good health awareness among people and attendance of major players. The development in the pulse oximeter market is also owing to the growing geriatric population and a huge number of respiratory diseases in this region.