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Asia Pacific Pulse Oximeter Market will grow over 8% CAGR: Actual Market Research
Jun, 24
2021

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Asia Pacific Pulse Oximeter Market will grow over 8% CAGR: Actual Market Research

 

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As of July 2020, the population of Asia is projected at almost 4.64 Billion, being the most populous continent by a massive margin having a population of nearly 3.5x of the second-most populous continent Africa. Such a high population base & an increased disposable income with the growing awareness about health disorders are likely to make way for the manufactures in the region. Besides, there is an increased awareness among patients regarding advanced pulse oximeters. This region is witnessing high cases of diabetes, COPD, hypertension, and cardiovascular diseases.

The research report titled Asia-Pacific Pulse Oximeter Market Outlook, 2026 by Actual Market Research categorizes the market to forecast the revenues and analyze the trends in segments based on product type, end-users, countries & major companies. The Pulse Oximeter market has been revamped considering the Covid-19 impact. The increasing cases of such disorders are expected to be the major drivers for the market to grow at an anticipated CAGR of over 8%. Moreover, few institutes like the Indian Society of Anesthesiologists promote using pulse oximeters during surgeries or any other procedures where anesthesia is used. These factors indicate an increase in the application of the pulse oximeter market in the projected period.

COPD is a major disease in Asia, yet with a very low awareness & under-diagnosis. Moreover, high smoking prevalence and air pollution are barriers to managing Asian patients with COPD. The relatively low body mass index of Asian patients with COPD can increase their risk of experiencing adverse effects from COPD drugs. The handheld pulse oximeters segment held the largest share of the market in 2019; however, the fingertip pulse oximeters segment is expected to register the highest CAGR in the market during the forecast period. 

The burden of COPD in Asia is currently greater than that in developed Western countries, both in terms of the total number of deaths and the burden of disease, as measured in years of life lost and years spent living with a disability. The types of healthcare policies and the practice of medicine vary considerably among the regions of Asia and have an impact on the burden of disease. Pulse oximeters are used in various settings such as in medical settings, homes, or at medical emergency sites. Growing awareness about patient safety during surgery and while administering anesthesia has made the use of pulse oximetry mandatory in various treatments. However, inaccuracies in pulse oximeter readings are expected to obstruct the growth of the home care segment in the region, yet growing with a CAGR of more than 16%.

COPD ranked among the top three leading causes of death in China. In view of the high smoking rate and considerable concerns related to air pollution and smog in China, countermeasures need to be taken to improve disease prevention and management to reduce disease burdens raised by COPD. Japan & India together accounted for over 28% of the regional share in 2020.

Key industry players are Koninklijke Philips NV, CASMED (Edwards Lifesciences Corporation), Covidien (Medtroni PLCc), Nihon Kohden Corporation, Smiths Medical International, Welch Allyn INC, Spacelabs Healthcare, Meditech, GE Healthcare, etc.