Pulse Oximeter Market, by Product Type (Table-top/Bedside Pulse Oximeters,Fingertip Pulse Oximeters, Wrist-worn Pulse Oximeters, Handheld Pulse Oximeters), by Sensor (Disposable Sensor Pulse Oximeter, Reusable Sensor Pulse Oximeter, Reprocessed Sensor Pulse Oximeter), by End User (Hospital, Clinics, Ambulatory Surgical Centers, Homecare Settings, Other End User), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 3,426.3 Mn in 2022 and is expected to exhibit a CAGR of 7.5% during the forecast period (2022-2030) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Pulse oximeters are noninvasive devices widely used in clinical situations to monitor the oxygenation of blood. Several types of probes are commonly used, such as a nasal clip, finger clip,foot, ears or forehead sticker. The operating principle of pulse oximeter involves, the oxygen binding capacity to hemoglobin (O2Hb) that absorbs more near-IR light and give immediate results. It mainly measures the oxygen levels in peripheral blood. This device is recommended to people experiencing cardiac disorders, shortness of breath or having a Chronic Obstructive Pulmonary Disease (COPD). Pulse oximeter does not require blood sample and provides fast results. Pulse oximeters are classified into two types according to U.S. Food and Drug Administration (U.S. FDA) namely prescription pulse oximeter and over-the-counter pulse oximeter. On the basis of sensor, pulse oximeters are of three different types, disposable sensor pulse oximeter, reusable sensor pulse oximeter, and reprocesses sensor pulse oximeter.
Pulse oximeters have several advantages such as it alerts the individual about extremely low oxygen levels, provides rapid response, portable nature, and doesn’t require any specific training among others. Furthermore, it is classified as class II devices by U.S. Food and Drug Administration and reviewed by cardiovascular panel.
Market Dynamics
Pulse oximeter companies have adopted inorganic growth strategies such as partnership in order to expand their product portfolio and strengthen their position in market. In July 2020, Welch Allyn, a subsidiary of Hill-Rom Services Inc., partnered with Nonin Medical, a company designing and manufacturing noninvasive pulse oximeters, to offer its clinically-proven PureSAT SpO2 technology to Welch Allyn. This partnership will help the company expand its product portfolio.
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