Pulse and Regional Oximeters Market Drivers, Restraints, and Challenges Shaping the Disposable Medical Device Sensors Market Dynamics

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From a value of $2,101.0 million in 2018, the pulse and regional oximeters market is expected to progress to $3,365.0 million in 2024, at an 8.2% CAGR during the forecast period (2019–2024). Owing to the rising requirement for pulse oximeters, coupled with the increasing diagnoses of chronic diseases, they are expected to experience the higher CAGR, of 8.6%, during the forecast period, based on product type.

A major trend in the pulse and regional oximeters market presently is the acquisition of market players by larger ones, including Koninklijke Philips N.V. and Edwards Lifesciences Corporation. For instance, Edwards Lifesciences Corporation paid around $100 million for acquiring CAS Medical Systems Inc. (CASMED), in April 2019. The aim behind this acquisition was to integrate HemoSphere, a platform developed by Edward Lifesciences to monitor patients’ hemodynamic stability, with ForeSight, a technology patented by CASMED to keep track of patients’ cerebral oxygenation level in a non-invasive way.

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Oxygen saturation being one of the primary health parameters, oximeters are widely used in healthcare settings, to monitor patients for evaluative, diagnostic, and therapeutic purposes. Some issues which require the use of such devices for patient status tracking are multisystem trauma, cardiac arrest, sickle cell crisis, and apneic condition. Apart form the use of such devices for these conditions, the increasing cases of chronic diseases would also drive the pulse and regional oximeters market during the forecast period.

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Adult patients held the dominating share in the market, on the basis of patient type. This is attributed to the increasing geriatric population, which is more susceptible to chronic disorders, thereby requiring such equipment on a regular basis. Further, the connected category would observe the higher CAGR in the pulse and regional oximeters market during the forecast period, on the basis of connectivity. The rising number of people becoming aware of devices connected via Bluetooth would aid in the progress of this category.

In 2024, North America would be the largest market for oximeters, and it will be followed by Europe. The two continents would hold a 68.0% share in the market, as a result of the increasing population of the elderly and presence of globally operating players. Other productive regions in the pulse and regional oximeters market are Latin America (LATAM), Asia-Pacific (APAC), and Middle East and Africa (MEA). Within APAC, Japan is the highest revenue generator, holding a share of 34.1% in 2018, because of the growing geriatric population and prevalence of chronic diseases.

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