MRI Pulse Oximeters Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Global MRI Pulse Oximeters Market: Snapshot
The MRI pulse oximeters are used to monitor the pulse rate and blood oxygen saturation during MRI scans. The number of people suffering from chronic diseases is rising rapidly. Furthermore, individuals suffering from chronic diseases are prone to infections. In the current scenario, MRI pulse oximeters are in high demand due to the rise in incidences of chronic diseases. These aspects have projected a substantial growth of the MRI pulse oximeters market during the forecast period of 2020-2030.
The technological advances in medical devices are catering to the rising demand for MRI pulse oximeters. The researchers have conducted rigorous studies to develop the application of MRI pulse oximeters in other environments. For instance, a Fingertip pulse oximeter was introduced in 2015. It is operated through Bluetooth technology and serves patients suffering from respiratory disorders. In addition, SedLine Brain Function Monitoring, and Rad-97 Pulse-CO Oximeter were launched in India in 2017. These products are anticipated to serve as a growth booster for the MRI pulse oximeters market.
MRI pulse oximeters are made up of non-magnetic substances and assure safe supervision during MRI scans. Further, they are also used in emergency care, anesthetics, and intensive care. The rising use of the MRI pulse oximeters in the medical sector has boosted the growth of the MRI pulse oximeters market.
MRI pulse oximeters are also used to monitor the newborns and provide them with a safe and secure environment in the Neonatal Intensive Care Unit (NICU) units. Novel sensor technologies like fiber optic Spo2 sensors provide safety features in-built in the MRI pulse oximeters market. These devices are gaining traction as they are non-invasive and suitable for newborn babies. Thus, the MRI pulse oximeters market is presenting promising growth opportunities for the key players.
The well-trenched market players are investing in research and development activities to expand their market presence. The new advancements in technology have led to the growth of the MRI pulse oximeters market.
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:
Some of the key market players of the global MRI Pulse Oximeters market are
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:
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