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Palo Alto, CA, United States, 2007/08/15 - New analysis from Frost & Sullivan, U.S. Pulse Oximetry Monitoring Equipment Market, finds that the market earned revenues of $201.1 million in 2006 and estimates this to reach $310 million in 2013.
The U.S. pulse oximetry monitoing equipment market is poised to grow in both the hospital and alternate care market segments. Miniaturized pulse oximeters with telemetry and/or data recording capabilities are to generate revenues in the non-traditional segments such as home monitoring, whereas the versatile bedside oximeters are likely to grow in hospitals’ low-acuity floors.
New analysis from Frost & Sullivan (patientmonitoring.frost.com), U.S. Pulse Oximetry Monitoring Equipment Market, finds that the market earned revenues of $201.1 million in 2006 and estimates this to reach $310 million in 2013.
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“The home monitoring market is witnessing a boost in demand for handheld and finger pulse oximetry,” notes Frost & Sullivan Research Analyst Mike Arani. “Also, due to the low cost and ease of use, finger pulse oximeters are being promoted in non-clinical markets such as fire rescue and military.”
The low prices of OEM SpO2 boards and reduced replacement rates of hand-held and finger units can limit the total market revenue growth. The market may also be restricted in the hospital segment by a high level of maturity coupled with budget limitations.
Exploring niche markets beyond the traditional healthcare services as well as offering cost-optimized monitors will help improve the uptake of oximeters. In the case of high-end products such as modular monitors, participants can promote their high level of versatility and upgradeability. While new modular monitors can be used as bedside or portable systems with telemetry data communication capabilities, hospitals can also control cost in the long run.
Meanwhile, major market leaders’ domination limits the smaller market participants from competing in major markets such as critical care and preoperative departments.
“Due to the limited market size for each subdivision of the alternate care market, many manufacturers do not focus on providing differentiated products to each group,” remarks Arani. “This generates a niche market opportunity for all sizes of pulse oximetry monitoring equipment companies.”
Whether the solution lies in redesigning the product or investing in marketing and business development to increase their potential customer base or risk losing market share.
U.S. Pulse Oximetry Monitoring Equipment Market is part of the Patient Monitoring Growth Partnership Service Program, which includes research services in the following: North American ECG and Cardiac Monitoring Products Markets, North American Cardiac Monitoring and Diagnostic Services Markets, U.S. Home Health Care Market for Remote Patient Monitoring Services, U.S. Positive Airway Pressure Therapy Devices Markets, U.S. Sleep Apnea Diagnostic Devices Markets. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants. Interviews with the press are available.
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