MRI Pulse Oximeters Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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MRI Pulse Oximeters Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : November, 2021 | Medical Devices

Report Digest


Global MRI Pulse Oximeters Market: Overview 

Continuous technological progress in those medical devices that strive for convenience and improved performance are the reasons for sustenance of MRI pulse oximeters. Nonetheless, the manufacturers of oximeters are focused on innovation because the uses of MRI pulse oximeters go well beyond the MRI environments 

In an effort to provide deeper and detailed analysis of the global MRI pulse oximeters market, the market has been segmented on the basis of product type, application, and by region. The segment of product type is further sub-divided into fingertip pulse oximeter, hand-held pulse oximeter and others. In terms of application, the market finds use in hospitals, clinics, and others. 

Global MRI Pulse Oximeters Market: Notable Developments 

The global MRI Pulse Oximeters market has some developments in the recent past. Two of such developments are mentioned below: 

  • Nonin Medical, Inc. introduced NoninConnect Model 3230 in August 2015. It is a fingertip pulse oximeter that is operated through Bluetooth technology. The product uses energy-efficient and is meant to serve patients with respiratory illness, such as chronic obstructive pulmonary disease (COPD). This wireless oximeter gained popularity owing to its energy-efficient characteristic and ease of use and has helped 
  • In January 2017, Masimo introduced two patient monitoring devices, namely SedLine Brain Function Monitoring and Rad-97 Pulse-CO Oximeter, in the Indian market. The medical practitioners and clinicians in India anticipate that these two monitoring products to accentuate the capacity of patient supervision. 

Some of the key market players of the global MRI Pulse Oximeters market are 

  • Nihon Kohden Corporation
  • Koninklijke Philips NV
  • Spacelabs Healthcare
  • CareFusion Corp
  • Medtronic plc
  • Masimo
  • Nonin Medical
  • GE Healthcare 

Global MRI Pulse Oximeters Market: Growth Drivers 

Growing Incidences of Chronic Diseases to Bolster Demand in the Market

The growth of the global MRI pulse oximeters market is ascribed to the remarkable rise in the incidences of chronic diseases. Besides, increased sale of top-notch diagnostic tools and machines such as MRI scanners, CT scanners have bolstered the demand for MRI pulse oximeters. 

MRI pulse oximeters are made utilizing non-magnetic substances so as to ensure correct and safe supervision of vital signs of patients while conducting MRI scans. As such, the demand for MRI pulse oximeters has increased for in-depth analysis of various diseases. These devices are not only used in connection with congenital heart defects but also for diagnostic measurement purposes in emergency care, intensive care, and in anesthetics. Substantial use of these devices across the medical industry presents ample growth opportunities for the global MRI pulse oximeters market.

MRI pulse oximeters also used to supervise newborns, especially the ones in the NICUs. For the newborn babies in NICU, extra safety and care are compulsory and MRI pulse oximeters offer that extra safety and care by way of correct monitoring. Furthermore, these devices are non-invasive, which make them suitable for newborns. Many hospitals are deploying these oximeters in NICUs as the standard for newborn care. A case in point is use of Covidien’s Nellcor pulse oximeters and Philips Healthcare’s IntelliVue Monitors for newborns at NICU of Reading Hospital in Pennsylvania.

Tracking of previous health records, deciding on treatment procedures, generation of real-time data and detection of probable threats are features that have been brought in by recent medical gadgets. The manufactures of MRI pulse oximeters are making optimal use of new sensor technologies like fiber optic SpO2 sensors to enhance the safety of device. Such technological progress is expected to open up new vistas of growth for the global MRI pulse oximeters market.

Global MRI Pulse Oximeters Market: Regional Outlook

Asia Pacific, the Middle East & Africa, South America, Europe, and North America comprise the principal regions of the global MRI pulse oximeters market. 

North America and Europe are expected to present copious growth opportunities for the global MRI pulse oximeters market. Presence of major market stakeholders  in the region coupled with constant technological progress in the medical industry is likely to fuel growth of the market in these regions. 

The global MRI Pulse Oximeters market is segmented as: 

Product

  • Fingertip Pulse Oximeter
  • Hand-Held Pulse Oximeter
  • Other 

Application

  • Hospital
  • Clinic
  • Others

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