Pulse Oximetry market research report will help buyer to achieve desired results by presenting actionable intelligence on various factors which will help buyer in identifying major parameters impacting the market; analyzing the performance of key companies in the market; understanding the dynamics of the key segments within the market; outlining the performance of the market across regions.
Pulse oximetry is one of the patient monitoring approaches for the monitoring of oxygen saturation level in the blood. It is a non-invasive method used to measure the arterial blood oxygen saturation level of a patient. This monitoring works on the principle of spectrophotometry and makes use of the pulsating nature of the arterial blood flow and light absorptive characteristics of hemoglobin (Hb).
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Pulse Oximetry Market Drivers, Challenges and Trends: –
Market Driver: – one driver in market is increasing adoption of home-care setting pulse oximeters. The rise in demand for home-care patient monitoring systems is driving the market growth. The aging population is one of the factors directly influencing the growth of the home-care setting pulse oximeters. The majority of the aged and critically ill individuals cannot afford frequent visits to medical facilities, and they often require monitoring on a daily basis. The home-care patient monitoring devices are convenient, cost-effective, and help in regular monitoring. The growing demand for the wireless multi-parameter home use pulse oximeters is expected to propel the market growth during the forecast period. There is a rise in demand for continuous monitoring of individuals with chronic disorders, such as hypertension. Therefore, individuals place a high priority on reducing their hospital costs and longer hospital stays, thereby preferring the home-care setting patient monitoring systems. The focus on quality care and disease management will lead to the rise in the adoption rate of portable MPPMS, especially in developed countries.
Market Challenge: – one challenge in market is aggressive competition among vendors. There are several global and regional vendors offering similar products in the global pulse oximetry market. The competition has restricted the average selling price of pulse oximeters. The manufacturers often bundle pulse oximeters with other devices to sell them at lower costs, aiming to increase the sales of other more profitable devices, such as operating room devices. This results in pricing pressure on the vendors for cost reduction of their products. Manufacturers have lowered the prices of their products to compete for high-volume and low-cost tender agreements. With the rise in MPPMS, the sales of the stand-alone pulse oximeter device are being affected. The clinicians’ and home-users’ preference is inclined toward MPPMS. The market competition increases due to the widening network of vendors for patient monitoring systems competing with vendors manufacturing only pulse oximeters.
Market trend: – One trend in market is growing adoption of product bundling strategy by vendors. Vendors are bundling two or more products or services to achieve product differentiation and provide innovative technology. For example, along with vital signs monitors, vendors are offering accessories for patients to monitor their blood pressure levels. Patients prefer using such packaged offerings to individual products as they prove to be cost-effective. Additionally, vendors have started manufacturing personal testing kits comprising of blood pressure monitors, thermometers, blood glucose monitors, and pulse oximeters, which have seen significant popularity worldwide. Another example of bundling strategy by vendors is a product called MAX30100, which is an integrated pulse oximeter and helps in measuring heart rate. This product by Maxim Integrated is one of the wearable medical monitoring devices in the market. This marketing strategy has helped various vendors to take competitive advantage. This trend is expected to show a strong impact on the market growth during the forecast period
Market segmentation by productBedside or desktop pulse oximeterPortable or fingertip pulse oximeterHandheld pulse oximeterWrist-worn pulse oximeterMarket segmentation by end-userby hospitalsby ASCsby home-care settings ; Geographic Segmentation: – Americas, APAC, EMEA
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To determine the Pulse Oximetry market size the report considers the revenue generated from the sales of pulse oximetry devices. The report covers the market landscape and its growth prospects over the coming years. Report contains vendor landscape in addition to a SWOT analysis of the key vendors operating in Pulse Oximetry market space like Medtronic, Philips Healthcare, Masimo, CAS Medical Systems, Criticare Systems and many more.
Some key points of Pulse Oximetry Market research report: –
What is status of Pulse Oximetry Market? This Overview Includes Analysis of Market trends, Prospect, Growth trend, Key buying criteria, Product offerings, Key takeaways. What will the market size be in 2021 and what will the growth rate be?
What Is Pulse Oximetry Competitive landscape considering Manufacturers, Types, Application; their business segmentation by revenue?
Market Effect Factors Analysis: What Are Drivers, Challenges and their impact? What are the crucial market trends?
Decision framework of Pulse Oximetry Industry; Consumer Needs or What Change Is Observed in Preference of Customer of Pulse Oximetry Market
What is Pulse Oximetry Market forecast Considering Market Size, Sales, Revenue, Growth rate, Price and Trends for Regions, Types and Applications?
This report provides new business dimensions with an eye on growth opportunities and contribution of upcoming market segments.