Pulse Oximetry Market 2020 —
Pulse oximetry refers to a non-invasive method of monitoring the level of oxygen saturation of the individuals. With the use of the pulse oximeters, the pulse oximetry tests are performed. It is a simple and painless procedure that measures how well the heart of an individual can send oxygen to the different parts of the body. The useful information provided through pulse oximetry helps the healthcare providers in determining the need for extra oxygen by the individual.
Market Segment by Key vendors, this report covers
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The method of pulse oximetry helps check the ability of a person to deal with the increased levels of acidity. It is useful during the surgical procedures that are carried out with the use of sedation. It is also instrumental in verifying the effects of lung medicines and determining the need for a ventilator to help in breathing. Pulse oximetry finds a wide application in checking for health conditions like heart failure, lung cancer, asthma, anemia, pneumonia, and heart attacks.
The increasing prevalence of surgeries and the increase in the incidence of chronic respiratory diseases are the leading market drivers of the global pulse oximetry market. The increase in the initiatives of the different public and private organizations for the implementation of pulse oximetry further boosts the market growth. However, the high costs associated with the respiratory measurement devices and tests are a potential limitation that restricts the growth of the market across the globe. The global pulse oximetry market is expected to witness notable growth by a CAGR of 6% by the year 2022.
Global Market Segmentation
The global market of pulse oximetry is segmented based on product type, end-user, and geographical region.
Based on the product type, the global market is divided into bedside or desktop pulse oximeters, fingertip pulse oximeters, handheld pulse oximeters, and wrist-worn pulse oximeters. The desktop pulse oximeters are the leading segment in the global market.
Depending on the end-users, the global pulse oximetry market is segregated into hospitals and clinics, alternative care settings, ambulatory service centers, and other end users. The hospitals and clinics are the leading segment in the global market. The increase in the prevalence of respiratory disorders, chronic diseases, and an increase in focus on the early diagnosis as well as prevention are some reasons that account for the growth of the segment.
Regional Market Analysis
Based on the market region, the global pulse oximetry market is segmented into the Asia Pacific region, South America region, North America region, Europe region, and the Middle East and Africa region.
North America is the leading market for pulse oximetry. The United States is the most significant contributor to the growth of the North America region. The Asia Pacific region is expected to witness the fastest growth during the forecast period.
Recent Industry News
In May 2019, Masimo announced receiving the FDA clearance of Radius PPG, a tetherless pulse oximetry sensor solution. It is considered to be a significant breakthrough for patient monitoring. Radius PPG offers the patients the freedom to move freely without causing any interruption in the continuous monitoring owing to its wireless connection. Radius PPG has the potential to provide accurate measurements, even when the patient is moving.
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