Europe Pulse Oximeter Market

Europe Pulse Oximeter Market Size (2022 to 2027)

The size of the European pulse oximeter market is forecasted to be growing at a CAGR of 7.19% from 2022 to 2027 and worth USD 0.80 billion in 2022 and USD 1.13 billion by 2027.

The high prevalence of chronic respiratory disorders in Europe has spurred demand for pulse oximeters, which have now become a standard of care. The European market for pulse oximeters can develop due to some of the key factors, such as the rapid rise in the elderly population, rising demand for home monitoring, and an increase in cardiovascular illnesses among people. The key market participants have prioritized product development to meet the increased demand for pulse oximeters and unmet medical needs. In addition, pulse oximeter usage is accelerating due to rising health concerns and a desire to stay fit.

The pulse oximeter market in Europe has seen a paradigm shift, with widespread acceptance and a preference for finger pulse oximeters, both of which are key market drivers. On the other hand, rising investments from EU governments in developing the healthcare infrastructure are expected to provide lucrative market expansion opportunities during the forecast period.

Furthermore, the Coronavirus outbreak in 2020 has increased the use of pulse oximeters in many European countries, which are used to detect the oxygen saturation rate of infected individuals. The pulse oximeter market is expected to grow as a result of these factors. Moreover, the usage of a pulse oximeter is necessitated by the rising focus on patient safety during recovery in healthcare contexts and the requirements for consistent vital sign monitoring. In operating rooms, intensive care units, and emergency care units, continuous monitoring is used to identify whether oxygen is required and to meet that need. The usage of a pulse oximeter is typically increased in chronic lung illness.

However, the growth of the European pulse oximeter market is expected to be hampered by a lack of training and the high cost of pulse oximeters. In addition, all medical device procedures are expected to be impacted by recent regulatory developments in Europe.

This research report on the European pulse oximeter market has been segmented and sub-segmented into the following categories.

By Type:

• Fingertip
• Handheld
• Others

By End-use: 

• Hospitals & Other Healthcare Facilities
• Homecare

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

The European market was the world’s second-largest regional market for pulse oximeters in 2020, and the market is expected to grow predominantly during the forecast period. The market growth is projected to be fuelled by the availability of advanced healthcare infrastructure, growing healthcare spending, and favorable reimbursement policies in the region. In addition, recent regulatory reforms in Europe are projected to impact all medical device processes. Although changes in labeling requirements and rules and regulations controlling the distribution of medical devices may slow the licensing process in Europe, they may have long-term benefits for allowed items, such as increased quality and fewer product recalls.

In addition, during the forecast period, the United Kingdom and Germany are the most likely to have the largest market share of pulse oximeters, adding to regional market growth. Germany is a renowned medical tourism destination with a high-quality healthcare infrastructure. It is, however, a top country when it comes to disease-causing risk factors such as alcohol consumption, smoking, and obesity. In addition, the Germany has a high rate of coronary heart disease, with roughly 20% of the population suffering from it. This aspect will raise the need for medical gadgets such as a pulse oximeter. Furthermore, because Germany has a high level of technological knowledge, the usage of pulse oximeters is expected to increase during the forecast period, assisting the expansion of the investigated market.

KEY MARKET PLAYERS:

OMRON Corporation, Medtronic Plc, GE Healthcare, Nonin, Zensorium, Invacare Corporation, MASIMO, Koninklijke Philips NV, Welch Allyn, Opto Circuits Limited, Spacelabs Healthcare, Nihon Kohden Corporation, Smiths Medical Group Limited, and Becton Dickinson and Company are some of the noteworthy companies in the European pulse oximeters market.