San Jose, CA (PRWEB) July 05, 2012
Follow us on LinkedIn – A part of the respiratory care devices market, pulse oximetry represents one of the most lucrative medical technology segments in the clinical armamentarium. The market offers significant growth prospects in the years ahead with advancements in technology and increasing target market applications. However, considering the status of current healthcare market environment, aggressive purchase of such equipment is hard to come by. As a result, the market is expected to post a slow yet steady growth in the foreseeable future.
Key factors driving market growth include the growing need for pulse oximetry testing in new surgical specialty facilities as well as in general admission floor for constant patient monitoring. Other factors contributing to the continued growth include increasing awareness, enhancement in healthcare workers efficiency through the adoption of improved and reliable detection algorithms, and growing severity and spread of diseases that require monitoring. Expanding global population, rising proportion of the elderly, and rising life expectancies also contribute to the significant demand for such devices. Further, with healthcare facility consolidation and standardization speeding up, the market for pulse oximeters seems to be favorably poised. In the emerging markets such as Asia-Pacific, high growth is particularly being driven by growing affluence coupled with increased awareness about diseases and remedies.
Potential opportunities for Pulse Oximetry also exist in the alternate care market, which includes skilled nursing facilities, long-term care centers, sub-acute care facilities, physician offices, and ambulatory surgery centers. Growing demands of an aging patient population, coupled with the opportunity emerging from patients’ shift to hospitals’ lower acuity areas favor the adoption of pulse oximetry in non-critical care areas such as general floor. Several hospitals are currently engaged in assessing the role of pulse oximetry in general care areas for preventing sudden declines in oxygen saturation rates. Pulse oximeters play a vital role in minimizing false alarms and also ensure true alarms to be reported, thereby allowing hospitals to remotely monitor their patients in non-critical areas.
The technology involved in pulse oximetry has transformed in recent years, revealing enhanced features in terms of safety, accuracy and reliability. Demand for motion-tolerant and low perfusion monitoring, which enables enhanced reliability of results, is fast growing and is being met by novel products such as Masimo’s SET technology. As against the conventional systems, the new generation oximeters provide enhanced reliability superior specificity, and enhanced detection algorithms that in turn facilitate improved healthcare worker efficiencies. Next-generation pulse oximeters are expected to be equipped with advanced signal processing and alarm management technologies. Presently, a wide range of oximetry devices are available in the market with diverse features based on individual end-user needs. Large and sophisticated units are generally purchased by hospitals, as these systems feature a large display and produce auditory and visual alarms. Some of these large systems also feature plethysmographic waveform data that enables indication of blood perfusion. 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.
Being an integral part of most healthcare settings, the market for pulse oximters remained relatively resilient during the global economic meltdown. The market continued to post sturdy growth despite the credit crunch owing to several stimulating factors such as growing penetration in the alternate care market, introduction and adoption of low perfusion, motion-tolerant technology, and increasing use of other healthcare settings. Currently, with the European region under the grasp of fear and uncertainty owing to the sovereign debt crisis, the market faces a fresh set of challenges. The impact of Government austerity measures is expected to be less on healthcare spending or spending on medical devices, even as Governments’ budgets continue to be under significant pressure. However, further deepening of the crisis could entrench austerity measures even in the healthcare sector as patients defer certain elective procedures.
The United States represents the single largest market worldwide, as stated by the new market research report on Pulse Oximeters. Replacements constitute a major factor driving growth in the US pulse oximetery market. With hospitals putting in efforts to lower patient care costs both in the short-term as well as long run, wireless devices, especially wireless multiple parameter monitoring devices and stations, are up for escalated growth. Monitors for remote viewing demonstrate high future prospects, as they are capable of lowering healthcare expenditure by decreasing the frequency of outpatient consultations as well as hospitalizations. Asia-Pacific represents the fastest growing market for pulse oximetry. Sensors assume significant importance in the pulse oximetry market, accounting for the largest share in the pulse oximetry market, outplaying revenues generated by new device installations. Among the pulse oximeter monitor types, Stand-Alone Devices represent the fastest growing product category. In terms of point of care, hospitals comprise the largest segment for Pulse Oximeter Monitors.
Pulse oximetry remains a niche segment with relatively few players venturing into the market. As a result, the market is highly consolidated, with Masimo Corporation and Covidien dominating the revenue share. Major players profiled in the report include CAS Medical Systems, GE Healthcare UK Ltd., Masimo Corporation, Covidien Plc., Nihon-Kohden Corp., Nonin Medical, Inc., Opto Circuits, Spacelabs Healthcare, Philips Healthcare, and Welch Allyn.
The research report titled “Pulse Oximeters: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections (US$Thousand) for global and regional markets including US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America and Rest of World. Key Product segments analyzed include Pulse Oximeter Monitors (Stand-Alone Devices (Bedside Devices and Handheld Devices), and Multiparameter Units (Modular Units and Configured Units)) and Sensors.
For more details about this comprehensive market research report, please visit –
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