Notable technological advancements in the healthcare sector are registering a positive growth in MRI pulse oximeters market. MRI pulse oximeters are used for the detection of congenital heart defects (CHD) and extensively deployed in the emergency and critical care units. A new era is formed for the detection and diagnosis of the health critical CHD and subclinical levels of hypoxemia that can be treated at the initial stages with the help of MRI pulse oximeters.
Moreover, the other major factors enhancing the sales of MRI pulse oximeters are the revolution in the healthcare industry with the heavy investments for privatization of the government hospitals, and burgeoning expansion of private hospitals in emerging economies such as India, China, etc. Moreover, with the expansion of medical colleges especially in Russia and China acting as an educational hub intensifying the growth of MRI pulse oximeters
According to the MarkNtel Advisors’ research report, “Global MRI Pulse Oximeters Market Analysis, 2020”, the CAGR of global MRI Pulse Oximeters market is expected to be around 5% during 2020-25. Wireless MRI pulse oximeters are gaining traction in the healthcare sector owing to the rising demand for technology upgrades. The manufactures are deploying Bluetooth and Infrared in the monitors for real-time monitoring of patient’s data for analyzing the vital information. Bluetooth MRI pulse oximeters are gaining popularity in the recent times as they provide more accurate information with early detection of chronic disease. Thus, the demand for wireless MRI pulse oximeters is expected to rise at a sturdy rate during 2002-25.
Increasing Government Spending
Middle East is primarily an oil-driven market but is now expanding its spending in sectors such as construction and healthcare. Saudi Arabia’s total spending on healthcare sector accounted to be around USD 46 billion in 2019 as compared to USD 42 billion in 2018. Developed countries such as the United States and United Kingdom have high per capita spending on healthcare sector and healthcare infrastructural development in emerging countries such as China and India is gaining pace. India and China have exceptional growth potential in future due to the low treatment cost attracting patients for medical tourism.
According to the MarkNtel Advisors, the major leading players are Nonin Medical, Inc., EMCO Meditek Pvt Ltd., IRadimed Corporation, MIPM, Koninklijke Philips NV, CareFusion Corp, Masimo, Medtronic, Mediatech Equipment, Zensorium among others. OEMs are developing oximeters for smartphone connectivity, for instance, iSpO2 TM Rx Pulse Oximeter launched for Android devices by Masimo for sports and aviation use. Nonin recently launched a model 3231 OEM/eHealth finger pulse oximeter and got approval from the FDA in the United States.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Global MRI Pulse Oximeters Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecasted up to 2025.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million, while the market volume is measured in terms of units sold(Thousand).
Q. What would be the CAGR of the Global MRI Pulse Oximeters Market during 2020 to 2025?
A. The market size of Global MRI Pulse Oximeters Market would register a CAGR of 5% during 2020-25.
Q. Does the report scope cover country wise market statistics also?
A. Yes, the scope of the report encompasses detailed country statistics such as market size, market segmentation based on various subcategories.
Q. Who are the key players or major competitors in Global MRI Pulse Oximeters Market?
A. are Nonin Medical, Inc., EMCO Meditek Pvt Ltd., IRadimed Corporation, MIPM, Koninklijke Philips NV, CareFusion Corp, Masimo, Medtronic, Mediatech Equipment, Zensorium, etc. are few of the leading players with majority market share in Global MRI Pulse Oximeters Market.
