Blood Oxygen Sensor Market 2019-2028: Consumption Growth Rate, Market Drivers, Opportunities and Import-Export Ratio
Pulse oximeters measure how much of hemoglobin in the blood is carrying oxygen (oxygen saturation). Oxygen enters the lungs and is then passed on into the blood and is carried to various organs in the body by hemoglobin. Oxygen saturation simply refers to the percentage of available hemoglobin that carries oxygen.
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Growth of the global blood oxygen sensors market is primarily driven by rising prevalence of diseases such as chronic obstructive pulmonary disease (COPD), sleep apnea, cardiac arrhythmia, and ischemic conditions. In addition, various, technological advancements to ensure increased efficiency and accuracy of these devices, and to make them more user-friendly are factors further expected to drive market growth in future. Handheld pulse oximeters dominated the market in 2015 in terms of revenue and volume, and this is attributed to increasing number of surgeries and emphasis on patient safety while under anesthesia. Also, preference for handheld devices is relatively high for long-term monitoring in hospitals and emergency rooms.
Handheld pulse oximeters dominated the market in 2015 and 2016 in terms of revenue and volume, and this is attributed to increasing number of surgeries and rising emphasis on patient safety while under anesthesia. Also, preference for handheld devices is relatively high for long-term monitoring in hospitals and emergency rooms. Demand for fingertip oximeters remains significantly high owing to ease of use, wide and easy availability over-the-counter, and various other benefits. Among the end-user sectors, revenue generation from hospitals and other healthcare facilities was comparatively higher in 2016, and this trend is expected to continue over the forecast period.
Among the markets in various regions, North America accounted for highest revenue contribution to the global market in 2016, and is expected to maintain its position during the forecast period. This attributed to the Centers for Disease Control and Prevention (CDC) and American Academy of Pediatrics (AAP) making it mandatory for CCHD screening of newborns in 2014 end in the US.
The market in Asia Pacific is projected to witness fastest growth in the near future owing to increasing investment by various players operating in the region and launch of new and innovative products.
Top players in the global blood oxygen sensor market are: Siemens, Fairchild Semiconductor, Philips, Ge Healthcare, Cypress Semiconductor, On Semiconductor, Renesas Electronics, and Tekscan.
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Market Segmentation on the basis of Product type include: disposable, and repeatable. Segmentation on basis of end user include: hospital, clinic, household, and other. Region-wise segmentation: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
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