Pulse Oximeters: A Global Strategic Business Report
San Jose, California (PRWEB) November 08, 2011
Follow us on LinkedIn - The market for pulse oximeters is expected to expand from intensive care to general care, as immense potential exists for the devices in the constant monitoring of patients in general wards. The market continued to grow at a steady rate despite the credit crunch owing to several stimulating factors such as growing use in the alternate care market, adoption of low perfusion, motion-tolerant technology, and increasing use of the device in general care areas apart from critical care settings. Other factors that contributed to the continued growth include increased awareness, enhancement in healthcare workers efficiency through the adoption of improved and reliable detection algorithms, and growing severity and spread of the diseases that require monitoring. The incorporation of telecommunication and telemetry into pulse oximeters has improved physician-patient access in the hospital. With healthcare facility consolidation and standardization speeding up, the market for pulse oximeters seems to be favorably poised. Introduction of pulse oximeters with advanced facilities is likely to accelerate the adoption of these devices in non-critical settings, thereby opening new avenues for potential market.
Introduction of motion-tolerant and low-perfusion technologies has intensified competition amongst providers of pulse oximetry sensors. Portable and compact medical equipment such as finger oximeters, are now available that allow individuals with respiratory diseases such as COPD and asthma to monitor their blood oxygen levels at home. Powered by AAA batteries, finger oximeters are available with colored OLED screens as well as standard digital screens. Emergency care as well as certain treatments are now increasingly performed in the ambulance itself, requiring smaller sized portable and mobile devices. The size of a desktop monitor is now equal to that of a palmtop, easy to carry around and can also be suspended by the patients’ bed while moving. Oximeters provide accurate SOP2 readings and pulse readings, while maintaining portability. Such devices are also extensively being used by gym trainers during training sessions.
The US and Europe represent the leading pulse oximeters markets, as stated by the new market research report on Pulse Oximeters. Asia-Pacific is projected to be the fastest growing regional market for pulse oximeters at CAGR of 8.9% over the analysis period. High growth in the region is particularly being driven by growing affluence coupled with increased awareness about diseases and remedies. Within the Pulse Oximeter market, Multiparameter Units represent the larger product segment in terms of value sales. The technology related module of pulse oximeters has transformed into an independent unit, separated from the rest of the device.
Stand alone pulse oximeter technology is now more scalable and can integrate other vital sign readings. It is also capable of complying with different monitors such as those of PCs and laptops. Consequently, players are presented with novel prospects for systems integration. In the US, market for Multiparameter Units is projected to reach US$140 million by 2016. Hospitals form the largest end use segment for pulse oximeters. Alternate care pulse oximeters are popular in developed markets including the US and Western Europe. Demand for alternate care services is primarily driven by the enhancement in pharmaceuticals and treatment plans that have reduced hospital admissions and increased the frequency of visits to emergency rooms and outpatient facilities.
The market is highly consolidated, with Masimo Corporation and Covidien dominating the global pulse oximeter market. Other prominent players in market include Carefusion Corporation, GE Healthcare, CAS Medical Systems Inc., Nihon-Kohden Corp, Nonin Medical, Inc., Criticare Systems, Inc., Philips Healthcare, Spacelabs Healthcare, Inc., among others.
The research report titled “Pulse Oximeters: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., analyzes the market across two major segments, namely Stand-Alone Devices (Bedside Devices and Handheld Devices), and Multiparameter Units. The study also analyzes pulse oximeters market by end-use segment for Hospital Care (Stand-Alone Device and Multiparameter Units), and Alternate Care (Stand-Alone Device and Multiparameter Units). The report covers major market dynamics, trends, and competition pertaining to the Pulse Oximeters market. The report enumerates recent product launches, mergers, acquisitions and other strategic industry activity. Analysis is presented for established and emerging markets including United States, Japan, Europe (France, Germany, United Kingdom, Italy) Asia-Pacific, and Latin America.
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