Oximeter Market is Projected to Grow at A CAGR of 7.2% During, 2020-2026

ABOUT THIS REPORT

OVERVIEW

Oximeter Market was valued at $1.96 billion in 2019 with a CAGR of 7.2% from 2020 to 2026.

The oximeter is a device that measures oxygen saturation level or the oxygen levels in the blood. Oximeter can detect small changes in how oxygen is being carried to the extremities furthest from the heart to the legs and the arms. Oximeter used to monitor the health that can affect blood oxygen levels with many types of conditions including lung cancer, asthma, chronic obstructive pulmonary disease (COPD), pneumonia, anemia, heart attack or heart failure, and congenital heart defects.

Rising prevalence of respiratory diseases and cardiovascular diseases is the most significant factor impacting market growth. According to the World Health Organization (WHO), each year 65 million people suffer from chronic obstructive pulmonary disease (COPD), and 3 million dies from it, which makes it the 3rd leading cause of death globally. According to the World Cancer Research Fund International, in 2018, there were 2 million new cases of lung cancer. About 1.8 million people die each year from Lung cancer. About 4 million people die prematurely from the chronic respiratory disease globally.

According to World Health Organization (WHO), Cardiovascular diseases (CVDs) are the number one cause of death globally, around 17.9 million people die due to cardiovascular diseases each year, an estimate of 31% of deaths globally. More than 75% of cardiovascular disease deaths occur in lower and middle-income countries. Heart attack and stroke are the cause of 85% of CVD deaths globally. Further, the growing demand for portable monitoring devices, an increase in the geriatric population are key driving factors of the market.

Fingertip, Handheld, Table-top, Pediatric Pulse, and Others is the type segment of the market scope. By application, the market is divided into Hospitals, Homecare, and Others. The report covers value of the global market by type and application.

Table-top oximeter had shown significant growth in 2019, owing to the increasing commercialization of new oximeter, the partnership between companies to distribute its product at a global scale, and increasing regulatory approval of oximeter.

North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration at the global oximeter value figures. While North America is further categorized into enhancing the United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America was dominating the global oximeter market in 2019, due to rising prevalence of respiratory diseases and cardiovascular diseases, regulatory approval of oximeter, the partnership between companies to expand business for oximeter, and commercialization of new oximeter.

Major players operating in the oximeter industry include Medtronic, GE Healthcare, Smiths Medical, Philips, Masimo, Nonin Medical, Inc., Welch Allyn, CAS Medical Systems, Inc., Spacelabs Healthcare, Contec Medical Systems Co., Ltd.

The commercialization of regulatory approved oximeter, increasing licensing agreements to expand the business for oximeter, and strategic partnerships to integrate oximeter are some of the strategies adopted by the major companies.