A handheld pulse oximeter is a device used in the medical profession that is hand-held and can be used to measure a patients oxygen levels. This device is used by doctors mainly but is also used by nurses and respiratory therapists and can be found in most hospitals.
There has recently been an increase in demand for this medical device as it is a very quick and easy way to test oxygen levels in the blood and is seen as very accurate making it very popular. Also considering the fact that coronavirus is depicted as a respiratory disease there has been an increase in demand for these devices in order to help test patients with the virus. An increase in air pollution as well as an increase in the number of people that smoke is also a reason for the increase.
Hand Held pulse oximeter market size was estimated at USD _43.7 million in 2022 and is forecast to reach USD _87.9 million by 2031, growing at a CAGR of _9.6%.
The problem with this sudden increase in demand is that suppliers are not able to keep up leaving many hospitals without the necessary equipment to test patients for the virus and monitor their oxygen levels. This could be a problem because if patients are not continually monitored there could be a huge problem with a patient that the doctors could miss.
Hand Held Pulse Oximeters Market Growth and Trends
The increasing patient safety and continuous vital monitoring is the primary reason promoting the market growth of the hand-held pulse oximeters. There has a surge in the diseases all over the globe owing to the rise in the geriatric population and this has significantly contributed to the market growth of the hand-held pulse oximeters. Increase in the government initiatives and availability of new products has also resulted in the increase in the market demand. Increase in the cardiovascular diseases and respiratory conditions has resulted in the increased usage of hand-held pulse oximeters contributing to its market demand and market growth. Pulse oximetry screening is mandatory for new born babies in most of the countries around the globe resulting in the increase in the market revenue.
Increase in diseases like COPD, sleep apnea, cardiac arrhythmia, ischemic conditions, diabetes, hypertension, hyperlipidemia, and asthma is said to be a key force driving the market growth of the hand-held pulse oximeters. Pulse oximeters can detect early neonatal defects that can reduce the number of neonatal deaths which are significantly high in number and thus contributes to the increasing market demand and growth. The WHO guidelines and government initiatives to recommend equipments which include medical oxygen and pulse oximeters have resulted in the increase in the market growth and demand of the hand-held pulse oximeters. The technological developments in the pulse-oximeters have improved the hemoglobin levels and oxygen pulse rates which has contributed to its increase in the market revenue.
The lack of awareness of the presence of the hand-held pulse oximeters is said to hamper the market growth.
Segmentation Analysis
Hand Held Pulse Oximeters Market Competition
Key companies operating in this industry are Masimo, Medtronic, Nonin Medical, Smiths Medical, Nihon-Kohden, Philips, GE Healthcare, Konica Minolta, Mindray, Heal Force, Contec, Jerry Medical and Solaris.
Coverage Highlights
• Handheld Pulse Oximeters Market Revenue Estimation and Forecast (2022 – 2031)
• Production Estimation and Forecast (2022 – 2031)
• Sales/Consumption Volume Estimation and Forecast (2022 – 2031)
• Breakdown of Revenue by Segments (2022 – 2031)
• Breakdown of Production by Segments (2022 – 2031)
• Breakdown of Sales Volume by Segments (2022 – 2031)
• Gross Margin and Profitability Analysis of Companies
• Business Trend and Expansion Analysis
• Import and Export Analysis
Hand-Held Pulse Oximeters Market Segmentation
Product Outlook (Revenue, USD Million, 2022 - 2031)
• Disposable Sensor
• Reusable Sensors
Application Outlook (Revenue, USD Million, 2022 - 2031)
• Hospital
• Ambulatory Surgical Center
• Home Care
Country (Revenue, USD Million, 2022 - 2031)
North America
• United States
• Canada
• Mexico
Asia-Pacific
• China
• Japan
• South Korea
• India
• Philippines
• Malaysia
• Australia
• Rest of Asia Pacific
Europe
• Italy
• Spain
• France
• UK
• Germany
• Belgium
• Netherlands
• Switzerland
• Russia
• Rest of Europe
South America
• Brazil
• Peru
• Chile
• Rest of South America
The Middle East and Africa
• Iran
• Israel
• Saudi Arabia
• Turkey
• Africa
Hand Held Pulse Oximeters Market Companies
• Masimo
• Medtronic
• Nonin Medical
• Smiths Medical
• Nihon-Kohden
• Philips
• GE Healthcare
• Konica Minolta
• Mindray
• Heal Force
• Contec
• Jerry Medical
• Solaris
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