The Europe Pulse Oximeter Market would witness market growth of 5.9% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 2,887.7 thousand units, showcasing a growth of 17.7% (2019-2022).
Improving the accuracy and precision of pulse oximeters has been a focal point of technological advancements. Enhanced sensor technologies, including innovative algorithms and signal processing techniques, contribute to more reliable readings, even in challenging conditions. This increased accuracy ensures that healthcare professionals and individuals can rely on pulse oximeter data for informed decision-making. Recognizing the unique needs of pediatric patients, there has been a focus on innovations in pulse oximetry technology specifically designed for children and infants. These innovations address sensor size, comfort, and accuracy challenges, ensuring reliable monitoring for the younger demographic.
One of the primary benefits of pulse oximeters in point-of-care testing is the ability to provide rapid and on-the-spot measurements of oxygen saturation levels. Unlike traditional laboratory testing, which may involve sending samples to centralized facilities and waiting for results, it offers immediate insights into a patient's respiratory status. This speed is particularly crucial in emergencies, critical care settings, and scenarios where prompt decision-making is essential.
Increased public awareness about monitoring respiratory health in the United Kingdom has likely contributed to the demand for pulse oximeters. Patients and caregivers are more informed and proactive about managing respiratory conditions, driving the demand for monitoring devices. As per the data from the Government of the United Kingdom, in 2021, a total of 6.6 million individuals (12.1% of the population) were diagnosed with a cardiovascular or respiratory condition; of these, 3.5 million (6.4%) had a cardiovascular condition, and 3.7 million (6.8%) had a respiratory condition. Thus, the growing number of respiratory diseases in Europe will help expand the regional market.
The Germany market dominated the Europe Pulse Oximeter Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $217.2 Million by 2030. The UK market is registering a CAGR of 5% during (2023 - 2030). Additionally, The France market would showcase a CAGR of 6.7% during (2023 - 2030).
Based on End User, the market is segmented into Hospitals & Clinics, Homecare and Others. Based on Type, the market is segmented into Fingertip, Handheld, Wrist worn, Bedside, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Pulse Oximeter Market will Hit $3.4 Billion by 2030, at a CAGR of 6.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hill-Rom Holdings, Inc. (Welch Allyn) (Baxter International, Inc.), GE HealthCare Technologies, Inc., Koninklijke Philips N.V., Nonin Medical, Inc., ICU Medical, Inc. (Smiths Medical), Medtronic PLC, OSI Systems, Inc. (Spacelabs Healthcare), Nihon Kohden Corporation, Meditech Equipment Co.,Ltd (Meditech Group), and Honeywell International, Inc.
By End User (Volume, Thousand Units, USD billion, 2019-2030)
By Type (Volume, Thousand Units, USD billion, 2019-2030)
By Country (Volume, Thousand Units, USD billion, 2019-2030)
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