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Market Research Future one of the supreme brands in the market research industry have published a comprehensive analysis of Pulse Oximeters Market is expected to record CAGR of 6.5% during the forecast period 2018-2023 by Size, Share, Emerging Trends, SWOT Analysis, Industry Insights by Competitive Landscape.
The global pulse oximeter">pulse oximeter market is expected to garner a growth of 6.5% during the forecast period between 2017 and 2023. The market was thoroughly studied and researched to obtain this calculated compound growth rate. Oximeters are employed for analyzing patient health during the diagnosis or detection of patient illness or when they are showing some symptom signs. Key medical parameters like pulse rates, cardiac rate, and breathing rate can be assessed and attained with the help of these devices. The oximeter products are increasingly being adopted across homes, healthcare emergencies, and healthcare settings. The market is majorly driven by the growing popularity of home surveillance and chronic illnesses. Aside from these, other factors driving the market include unhealthy eating the habit of consumers and the increasing instances of heart and obesity issues.
On the flip side, the key factor that hampers the global market is the shortage of awareness among the middle to low-income family groups about these medical devices. However, the market is expected to grow considerably during the forecast period.
The global pulse oximeters">pulse oximeters market includes a number of key and important players, including SantaMedical, Gurin, Oxitone, Spacelabs Healthcare, and GE Healthcare. With the market being fairly competitive globally, various leading players are seen developing new products and solutions to edge past their competitors and maintain a healthy lead. The players use key strategies like product sanctions and collaborations & acquisitions to make a mark in the market and stand out.
The global pulse oximeters market segmentation is based in terms of application, product, and region.
By-products, the market comprises of a fingertip, handheld, and others. Handheld devices lead the market charts among the product category. The market is positively influenced by ameliorating surgical procedures and vital stats device usage. Add to this, the early diagnosis of lifelong and chronic illnesses lessens complexities and aids in offering clinical results. This acts as a key driver of the handheld market segment. The fingertip devices segment is also garnering massive popularity due to it being the most rapidly evolving segment.
By application, the market includes hospitals, medical amenities, homecare, respiratory & cardiac centers, etc. The market the segment was led by medical amenities and hospitals and holds an impressive potential of growth and expansion.
By regions, the global pulse oximeters market covers Europe, Asia Pacific, the Americas, and the Middle East and Africa.
The regional analysis of the global pulse oximeter market states that the Americas lead the global charts with the highest share percentage. The region is expected to garner significant growth and remain at the pinnacle of the market till the end of the forecast period at the very least. The market growth can be attributed to the new regulation of performing compulsory testing of newly born babies that were enforced by the Centers for Disease Control and Protection. It is also worth mentioning that the Asia Pacific region is projected to grow with the fastest CAGR during the forecast period. Herein, the market is driven by the huge investments offered by the regional participants.