The Europe pulse oximeters market is expected to reach US$ 991.82 million by 2027 from US$ 519.46 million in 2019; it is estimated to grow at a CAGR of 8.3% from 2020 to 2027.
The market growth is primarily attributed to the rising prevalence of respiratory diseases, outbreak of COVID 19 pandemic, and increasing incidence of congenital heart disease. However, inaccuracies in pulse oximeter readings obstruct the market growth to a certain extent.
Pulse oximeter is a noninvasive device used for monitoring the oxygen saturation levels in blood. It is widely used in intensive care units, operating units, and emergency care units; the device is also used at high altitudes to assess patients’ oxygenation levels to determine if there is a need of external oxygen supply. A large percentage of world population suffers from various types of respiratory diseases. The patients suffering from respiratory disorders commonly experience difficulty in breathing and oxygen shortage, and thus need oxygen monitoring. For instance, according to estimates published by the German Environment Agency (UBA) on February 5, 2018, 10–12% of adults with age >40 suffer from coronary obstructive pulmonary disease (COPD). The increasing number of COVID-19 cases worldwide is resulting in elevated demand for pulse oximeters. Moreover, different types pulse oximeter devices are being used for routine oxygen monitoring at home.
During the COVID-19 pandemic, there has been a rise in the use of pulse oximeter devices at hospitals and homes. However, lockdowns and supply chain disruptions have exerted a short-term impact on the sales and manufacturing of pulse oximeters. Nonetheless, the overall impact on the pandemic on the pulse oximeters market in Europe is considered positive.
The Europe pulse oximeters market, by type, is segmented into fingertip pulse oximeters, handheld pulse oximeters, wrist-worn pulse oximeters, and pediatric pulse oximeters. The handheld pulse oximeters segment held the largest share of the market in 2019; however, the fingertip pulse oximeters segment is expected to register highest CAGR in the market during the forecast period.
Based on end user, the Europe pulse oximeters market is segmented into hospitals, clinics, and others. The hospitals segment held the largest market share in 2019; however, the market for others is estimated to grow at the highest CAGR during the forecast period.
A few of the primary and secondary sources associated with this report on the Europe pulse oximeters market are the European Respiratory Society (ERS), National Health Service (NHS), and Centers for Disease Control and Prevention (CDC).