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Europe Pulse Oximeter Market is expected to grow with a CAGR of 7%: Actual Market Research
Jun, 24
2021

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Europe Pulse Oximeter Market is expected to grow with a CAGR of 7%: Actual Market Research

 

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Recent changes in regulatory norms in Europe are expected to affect all medical device manufacturers. Although factors such as modifications in labeling requirements and changes in rules and regulations pertaining to the distribution of medical devices may slow down the approval process, in the long run, they may result in benefits to approved products, such as improvement in quality and reduction in the number of product recalls. The research report titled Europe Pulse Oximeter Market Outlook, 2026 by Actual Market Research categorizes the market to forecast the revenues and analyze the trends in each of the following segments: based on product type, based on end-users, based on countries & major companies.

Europe has 50 countries including Germany, United Kingdom, Switzerland, France, Italy, Netherlands, Greece, Poland, Sweden, etc. Germany dominates the pulse oximeter market in this region. The overall European market is expected to grow with a CAGR of 7.12%. The European pulse oximeters market is experiencing an increased preference for finger pulse oximeters, which are other important factors driving the market. Besides, the recent outbreak of Coronavirus in 2020 has increased the adoption of pulse oximeters, as they help determine the oxygen saturation rate of the infected patients. These factors are likely to boost the growth of the pulse oximeter market.

Europe offers huge opportunities for the pulse oximeters market growth. Also, the market growth is supported by some of the prime factors that include a swift rise in the geriatric population, increasing demand for home monitoring, and a rise in cardiovascular disorders. The European pulse oximeters market is experiencing an increased preference for finger pulse oximeters, which is likely to allow the market to grow over a CAGR of 10%. Moreover, rising government investment in healthcare infrastructure and is expected to provide lucrative opportunities for market expansion during the forecast period.

Pulse oximeters are used in various settings such as in medical settings, homes, or at medical emergency sites. In Europe, there is a high incidence rate of chronic respiratory impairments, which fueled the demand for pulse oximeters in the market. The key market players have been adopting strategies like new product development to serve the growing demand for pulse oximeters. Between 2015 to 2020 demand for pulse oximeters was limited to hospitals and other healthcare facilities but things changed in 2020, the year the world was struck with the novel coronavirus. This increased the demand for pulse oximeters in the segments. The home care segment is likely to grow with a CAGR of 14% in the coming five years. Besides, the recent outbreak of Coronavirus in 2020 has increased the adoption of pulse oximeters, as they help determine the oxygen saturation rate of the infected patients. These factors are likely to boost the growth of the pulse oximeter market. 

The key market players have been adopting strategies like new product development to serve the growing demand for pulse oximeters. Germany has a high-quality education, healthcare infrastructure and is one of the leading medical tourism destinations. However, it is also a leading country for disease-causing risk factors, like alcohol consumption, smoking, and obesity. The country has a high prevalence of coronary heart diseases, with about 20% of the total population affected by it. This factor will lead to an increased need for medical devices like a pulse oximeter.