North America Pulse Oximeter Market Outlook, 2027

According to the report titled, “North America Pulse Oximeter Market Outlook, 2027”, published by Bonafide Research, the market in the year of 2021 was valued at USD 0.77 Billion. Growth in the market is driven by the high prevalence of respiratory diseases in the region, along with the growing geriatric population and the increasing incidence of chronic diseases. The higher adoption of such medical devices is due to the increasing awareness among the people & the caretakers. Post the Covid pandemic, the market is expected to witness market growth of over 6% throughout the forecasted period of 2022-2027. Congenital heart disease is one of the most common birth defects observed in the US. This disease accounts for nearly 30% of infant deaths every year in the country.

\Pulse oximeter screening can be used to detect the abnormality in the first few weeks of life of the infants, thereby avoiding the risk of serious complications. This factor has resulted in making pulse oximetry screening mandatory in newborns before discharge. Disorders like peripheral vascular diseases, peripheral arterial disease, and congenital heart disease in infants affect the pulse negatively. North America has a high occurrence of PAD (peripheral arterial disease). It is reported that the estimated birth prevalence of CHD (congenital heart disease) in the US is nearly 8 to 10 per 1000 live births. The survival rate of patients affected by these diseases majorly depends on their severity, diagnosis time and efficient treatment method. Early diagnosis is a very important factor in reducing the risk of mortality in such cases. These factors are likely to increase the use of pulse oximeters in newborn screening in North America. Similar to the global trend, the North American market is led by the handheld segment, accounting for a value of around USD 0.4 Billion in the year 2021. Increasing emphasis on patient safety during pandemics and demand for consistent vital stats monitoring is expected to drive the growth of the regional market. When compared to conventional bedside pulse oximeters, portable fingertip devices have the advantages of cost-effectiveness, high portability, ease of use, and battery operation. Through the forecasted period, the fingertip oximeter segment is expected to grow at a rate of almost 9%. Based on end-users, the pulse oximeters market has been segmented into Non-Homecare settings, of which the hospital segment accounts for the largest share of nearly 90% in 2021. This can be attributed to the wide adoption of pulse oximeters for the evaluation of oxygen saturation in patients. Currently, with the surge in Covid-19 cases, there is a rising focus on self-respiratory monitoring, which gave a push for the adoption of the pulse oximeter. This, in turn, is expected to propel the market growth of the revenue from the home end-user segment to a CAGR of over 13% in the next five years. The surge in the geriatric population and the subsequent increase in the prevalence of respiratory diseases, technological advancements, the presence of advanced healthcare infrastructure in the US and Canada, and the increased funding for research and development are also driving the growth of the pulse oximeters market in the region. The US dominates the regional market, while all the other countries barely make a single-digit contribution in the market. The Food and Drug Administration (FDA) requires that all pulse oximeters marketed for medical use in the United States have been tested and certified. Moreover, the increasing demand for patient monitoring in non-hospital settings with an increasing number of surgical procedures and upcoming opportunities in point-of-care testing is expected to offer significant growth opportunities for market players during the forecast period. Mexico lacks any mandatory norms for newborn screening, yet is one of the largest medical device exporters, with India being its main importer. This factor implies that Mexico can be a potential market to invest in the pulse oximeter market since there are no strict manufacturing regulations for pulse oximeters in Mexico in the projected period. COVID-19 Impact The Covid-19 pandemic affected many different industry verticals in the region including the pulse oximeter. The market in the region was affected by the pandemic in a positive manner as the virus affected the respiratory function of the patient. Along with this the early diagnosis of Covid- 19 patients involved observing the oxygen saturation levels, this bolstered the market growth. On the other hand the market was affected negatively by the pandemic owing to the hinderance in the supply chain and issues in production process which were created by the lockdowns and travel restrictions.

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Manmayi Raval

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Major Companies Included: CASMED (Edwards Lifesciences Corporation ), Covidien (Medtroni PLCc), Koninklijke Philips NV, Nihon Kohden corporation, ICU Medical Inc., Hillrom Services, Inc. Beckton Dickinson and Company, Contec Medical Systems Co. Ltd, Rossmax International Ltd, Spacelabs Healthcare Considered in the report • Geography: North America • Base year: 2021 • Historical year: 2016 • Forecasted year: 2027 Countries covered: • North America • USA • Canada • Mexico Aspects covered in the report • Market Size by Value for the period (2016-2027F) • Market Share by Product type (Fingertip, Handheld & Others) • Market Share by End User (Hospital and Health Care Facilities & Home Care) • Market Share by Country • Market Share by Company The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free. Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the medical device industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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