Press Release Description
Pulse Oximeters Market to Shoot Up with Rising Prevalence of Respiratory Disorders in South America
The South America Pulse Oximeters market is projected to grow at a CAGR of around 6% during the forecast period of 2023-28, cites MarkNtel Advisors in their recent research report. The major aspect supporting the market growth is the rising prevalence of respiratory disorders among individuals of different age groups. Respiratory diseases like coronary & congenital heart diseases, chronic respiratory diseases, etc., which are most of the leading causes of death across the region, have been elevating the demand for these oximeters, with the soaring adoption by consumers. Since pulse oximeters are mostly used during critical cases & after surgery to check the oxygen saturation in the blood of the patient, the growing number of healthcare centers also uplifts their usage in the region.
However, consumer concerns about the dependability of homecare devices are limiting their adoption across South America. As several OTC pulse oximeters are not FDA-approved & may be purchased without a doctor's prescription, users are concerned about their reliability and precision. Since pulmonary & heart diseases are serious medical conditions, patients need certainty about the products they use. As a result, customer skepticism about the efficiency of OTC pulse oximeters would impede market growth in the forthcoming years.
Moreover, during 2020-21, the rising cases of COVID-19 actively supported the growth of the market as respiratory distress was one of the major symptoms observed in the patients, hence elevating the demand across the region. Additionally, Brazil was one of the most significant countries to record the highest rate of COVID-19 cases, which resulted in an enhanced requirement for these oximeters, which were needed for continuous monitoring of the patients.
Apart from this, the rising awareness among individuals regarding health monitoring, especially during physical activities, has also contributed to the expanded usage of wearable
in the region. Furthermore, extensive physical activities lead to the depletion of blood oxygen levels, which would degrade the oxygen saturation of the blood. Therefore, with rising health concerns & enhanced adoption of physical activities in daily routine, the need for pulse oximeters is presumed to augment to measure oxygen saturation during the forthcoming period, further states the research report, "South America Pulse Oximeters Market Analysis, 2023."
Enhanced Portability of Fingertip Pulse Oximeters is Projected to Uplift the Market Growth
Based on type, the market is segmented into Portable & Tabletop Pulse Oximeters. Among them, Portable pulse oximeters acquired the major market share due to the enhanced usage of fingertip pulse oximeters by patients with asthma. The accuracy & easy portability of fingertip pulse oximeters enhanced their usage, especially while commuting. Moreover, with the outbreak of the pandemic, health experts spread awareness regarding the use of pulse oximeters to identify & diagnose respiratory distress caused by SARS-CoV2. Pulse oximeters act as vital medical devices, as they allow individuals to continuously monitor their blood oxygen saturation during the disease or when they are ill, thus influencing market growth.
Mounting Cases of Chronic Obstructive Pulmonary Disease (COPD), Brazil to Dominate the Market
Geographically, Brazil is presumed to account for the majority of the market share due to the rising cases of COPD among adults in the country. Further, COPD is also one of the compelling causes of mortality & morbidity in Brazil, which generally remains undiagnosed & undertreated. Therefore, healthcare officials in the country recommend the usage of pulse oximeters among patients experiencing respiratory distress, as it would allow them to identify the problem & obtain medical attention on time. Additionally, a viral outbreak caused by the Darwin variant of the influenza virus (H3N2), which leads to breathing issues, further supports the market growth in the country.
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Invacare Corporation, CONTEC Medical Systems Co. Ltd., Nihon Kohden Corporation, Dragerwerk AG & Co. KgaA, Halma PLC, Smiths Medical Group Limited, Masimo, Koninklijke Philips Nv, Medtronic, Beurer GmbH, and Others, are looking forward to strengthening their market position.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What key factors would propel and impede the industry across the region?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition been shaping across various countries?
- How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2018-28?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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