During the course of the forecast period, it is anticipated that the worldwide pulse oximeter market would develop more quickly due to the rising prevalence of cardiovascular disorders such coronary heart disease, peripheral arterial disease, and others. Cardiovascular diseases (CVDs), for instance, were the main cause of mortality worldwide in 2021, according to the World Health Organization. Increased product launches are anticipated to fuel market expansion throughout the forecast timeframe. Using Masimo as an example, the California, U.S.A.-based Company just introduced its Double Set Pulse Oximeter in November 2021. In order to facilitate the screening for Critical Congenital Heart Disease (CCHD), special technological adjustments were made, and the Eve CCHD New-born Screening Application was added.
According to Coherent Market Insights, the global Pulse Oximeter Market is anticipated to reach US$ 3,426.3 million in 2022 and grow at a 7.5% CAGR during the following five years (2022-2030)
Key Leaders in the Pulse Oximeter Industry:
1. Masimo
Masimo was established in 1989, and its headquarters are in Irvine, California. The Masimo Corporation creates, produces, and distributes a range of non-invasive patient measurement techniques, healthcare automation systems, home monitoring equipment, ventilation systems, and basic goods. In 2020, Masimo unveiled Bridge, a non-invasive, drug-free device that employs neuromodulator to help with symptom relief. Due to the COVID-19 epidemic, Masimo released Masimo Safety Net for smartphones in 2020. Masimo unveiled the W1 consumer health watch in 2022.
2. Medtronic Plc.
Medtronic was established in 1949 and Minneapolis, Minnesota serves as the company's primary location. It creates and produces medical medicines and technologies. The business decided to recall the HeartWare Ventricular Assist System in February 2021. In order to satisfy the demands for care at ambulatory surgery centres, the firm declared in April 2022 that it will collaborate with GE Healthcare. The company stated in October 2022 that it intended to explore a split of its integrated Patient Monitoring and Respiratory Interventions divisions.
3. GE Healthcare
GE HealthCare Technologies Inc. is based in Chicago, Illinois and started operating in 1994. . It provides the dyes needed for magnetic resonance imaging methods, produces diagnostic medical tools like CT scanners, MRIs, X-ray machines, sonography, cardiology labs, and nuclear medicine webcams. To develop AI-based software, GE and Spectronic Medical began working together in 2021. It was announced in February 2023 that GE HealthCare had paid an unknown price to buy Caption Health, a maker of AI-based medical technologies.
4. Honeywell International Inc.,
The company was established in 1906, with its headquarters in Charlotte, North Carolina. In terms of business, it principally focuses on four sectors: aircraft, building components, performance technologies and materials (PMT), and security and productivity services. With its operations in Smithfield and Phoenix, Honeywell started producing N95 masks in April 2020. In November 2021, Honeywell created a process that can convert low-grade plastic waste into elevated oil.
5. Koninklijke Philips N.V
The corporation was established in 1891 and has its head office in Amsterdam, Netherlands. Koninklijke Philips NV (Philips) is a multifaceted technology firm that designs and produces consumer electronics and medical equipment. Philips revealed its cutting-edge, premium new Clean Air Mask with cutting-edge technologies. Aug 20, 2021. On January 30, 2023, Philips unveiled their strategy for generating value with a lasting impact.
6. Hill-Rom Services
With its corporate headquarters in Chicago, Illinois, the business was founded in 1915. It creates hospital beds and platforms that are smart, patient monitoring, healthcare communications, elevators, medical examination and diagnostics, visual screening, respiratory symptoms, surgery tables, IT systems, and smart care facilities. Excel Medical Electronics, a developer of medical communications software, was purchased by Hillrom in January 2020. Hillrom revealed its new High Precision Locating (HPL) solution for personnel and asset tracking in 2022.
7. Microtek
Microtek was established in 1980, with its head office located in Hsinchu Science and Industrial Park, Taiwan. It manufactures imaging technology for use in the medical, biological, and industrial sectors. Digital cameras, LCD projectors, and LCD displays were added to the company's product offerings. In December 2021, Microtek released brand-new inverters and UPSs that use less energy.
8. OSI Systems
OSI Systems, Inc. was established in 1987 and is situated in California, USA. It creates and sells safety and inspection devices like metal detectors and X-ray equipment for airport security, as well as medical monitoring and anaesthetic equipment, and optoelectronic devices. On September 19, 2022, the OSI Systems Board Amended the Share Buyback Program.
9. Stryker
Stryker Corporation was established in 1941 and based in Kalamazoo, Michigan. Products from Stryker include implants for joint replacement and trauma operations, surgical instruments and navigation systems, endoscopic and communications networks. Stryker announced in January 2021 that it will purchase a joint replacement technology company.
*Definition - A pulse oximeter is a diagnostic device that records changes in blood flow in the skin and the oxygen levels of a person's blood indirectly (as opposed to immediately through a blood test).
