Europe Pulse Oximeter Market Outlook, 2027

Europe Pulse Oximeter Market Outlook, 2027

Besides this, the outbreak of Coronavirus has increased the adoption of pulse oximeters, used majorly to determine the oxygen saturation rate of the infected patients. These factors are likely to boost the growth of the pulse oximeter market, to a growth rate of over 7% in the coming years. The prevalent lifestyle of the European population which consist of habits which create high risk of cardiovascular and respiratory diseases is among the major factor driving the market growth. These activities include smoking and alcohol consumption. Along with this the increasing incidence of obesity in the region is expected to fuel the market growth in the future.

According to the report titled. “ Europe Pulse Oximeter Market Outlook, 2027”, published by Bonafide Research the market in the region was valued at USD 0.66 Billion in the year of 2021. The major reason for this value is the high rate of chronic respiratory impairment in different countries of the region. The European market is expected to witness a paradigm shift such as wide adoption & preference for finger pulse oximeters, which can be considered as a crucial factor in the market development. This increase in adoption rate is due to the desirable attribute of the fingertip oximeter of being highly portable and at the same time being a pocket friendly device for the consumer especially for use in homecare. This is the reason the segment during the forecast period is predicted to have the highest growth rate. The handheld oximeters accounted for more than half of the market revenue in the year 2021. There’s also a lot more room inside the device, compared with a Fingertip Pulse Oximeter which allows the manufacturers to incorporate other functions, such as audible alarms, data storage memory, and rechargeable batteries. Furthermore, the increasing demand for non-invasive methods of healthcare in the region is driving the pulse oximeter market as these devices measure the oxygen saturation levels without intruding the patients personal space. The early diagnoses of respiratory diseases have proven to increase the life expectancy of patients, this need in early diagnoses have lead to development of better products in the region and driven the market in recent times.

Europe is the market in which cardiovascular disease accounts for 45% of all deaths, offering a huge market opportunity. Apart from the swift rise in the geriatric population of the region provide to the demand for pulse oximeters. Along with this the rising government investment in healthcare infrastructure has allowed the Non-Homecare segment which includes Hospitals and other institutes to grow to a market value of around USD 0.5 Billion in 2021. An increase in the awareness for home monitoring is expected to provide lucrative opportunities for market expansion during the forecast period. The home care segment is likely to grow with a CAGR of over 14% in the forecasted period between 2022 and 2027. This is likely due to the rising expenses of hospitals in the region.

Germany, with its high-quality healthcare infrastructure & increasing medical tourism, leads the European market. However, it is also a leading country for disease-causing risk factors, like alcohol consumption, smoking, and obesity. About 20% of the total population has a high prevalence of coronary heart diseases. France is a well-developed economy with several hospitals and a robust regulatory framework. The rising geriatric population, which is suffering from different respiratory diseases, is driving the growth of the pulse oximeter market in the country. Such factors led to an increased need for medical devices especially pulse oximeters. Since the country is known for its high technological expertise, the adoption of pulse oximeters is likely to upsurge in the country, thereby aiding the growth of the studied market in the coming years.

COVID-19 Impact
The market in the region followed the global trend and witnessed a spectacular growth during the pandemic. This is due to the reason that the virus created complications in the respiratory function of the victim. However, this instant upsurge in demand was not completely fulfilled by the manufacturers due to issues in production and supply chain which was the effect of the pandemic as well.

Major Companies Included: CASMED (Edwards Lifesciences Corporation ), Covidien (Medtroni PLCc), Koninklijke Philips NV, Nihon Kohden corporation, ICU Medical Inc., Hillrom Services, Inc., Beckton Dickinson and Company, Contec Medical Systems Co. Ltd., Microtek international private limited, Rossmax International Ltd, Spacelabs Healthcare

Considered in the report
• Geography: Europe
• Base year: 2021
• Historical year: 2016
• Forecasted year: 2027

Countries covered:
• Germany
• United Kingdom
• France
• Spain
• Italy
• Russia

Aspects covered in the report
• Market Size by Value for the period (2016-2027F)
• Market Share by Product type (Fingertip, Handheld & Others)
• Market Share by End User (Hospital and Health Care Facilities & Home Care)
• Market Share by Country
• Market Share by Company

The approach of the report:
We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free.

Intended Audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the medical device industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.