Vietnam Pulse Oximeter Market to Grow at a Significant Rate During the Forecast Period
Integration of
artificial intelligence in pulse oximeter is driving the Vietnam Pulse Oximeter
Market growth in the forecast period, 2023-2027.
According to TechSci Research report, “Vietnam
Pulse Oximeter Market
-
By Region, Competition Forecast & Opportunities, 2027”, the Vietnam pulse oximeter market is anticipated to grow
with an impressive CAGR in the forecast period, 2023-2027 on the account of increasing
instances of respiratory failures and lung diseases like COPD. Increasing
demand for the monitoring devices such as pulse oximeter is further driving the
growth of the Vietnam pulse oximeter market in the upcoming five years.
Consistent research & technological
advancement and innovative product developments in the oximeter devices further
support the growth of the Vietnam pulse oximeter market. Pulse oximeters are
actively used in during surgery process when patient is under anesthesia and
post-surgery processes to monitor the patient conditions. These are some of the
major factors that are supporting the Vietnam pulse oximeter market growth.
Technological advancements like reusable sensors, fingertip type
monitors, compact size, and affordability of the product are further aiding to
the growth of the Vietnam pulse oximeter market in the future five years.
Increasing financial support through government investments and private direct
funding from various sources are also supposed to support the market growth.
Increasing geriatric population, and their susceptibility toward the
respiratory diseases is substantiating the growth of the Vietnam pulse oximeter
market in the future five years.
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The Vietnam pulse oximeter market is segmented by
type, sensor type, patient type, end user, competitional landscape, and
regional distribution. Based on sensor
type, the market is further fragmented into reusable and disposable sensors.
Reusable sensor types are often digitally enabled thereby creating a record
storage for the patients such that regular consultations with their doctors can
be conducted fluidly. Disposable sensors in pulse oximeters are replaceable and
function on the detecting the infrared and red light absorption characteristics
of hemoglobin.
Based on type, the market is further bifurcated
into fingertip & handheld. Fingertip type of the pulse oximeters are
anticipated to hold the largest revenue shares of the market and dominate the
market segment in the upcoming five years on the grounds of increasing
technological advancement in the medical devices. Moreover, growing investment
for the research and product innovation purposes are further aiding the growth
of the Vietnam pulse oximeter market.
Patient type, market segmentation is fragmented
into neonatal, pediatric, and adult. Adult patients are higher in number and
chances of them contracting various pulmonary diseases is higher, thus the
segment is anticipated to dominate the market while holding largest revenue
shares of the market. Also, rising awareness among the population regarding
pulse oximeters and its advantages are aiding the growth of the Vietnam pulse
oximeter market in the next five years.
Based on end user the market is categorized into hospitals
& clinics, ambulatory surgery centers, homecare, and others. Home care
segment is anticipated to create a large share in the market owing to the fact
that reimbursement of various post-surgery procedures isn’t feasible. Thus,
requiring patients to be home-cared. For the purpose of monitoring the
post-surgery patient and out-patient, the oximeters allow proper care and easy
consultations with the concerned doctors, there by supporting the growth of the
market.
The world was hit by the spread of COVID-19 virus
in 2020, and it boomed the sales of pulse oximeters. Pulse oximeters monitor
the oxygen concentration in the blood by monitoring the amount of oxygen in the
hemoglobin. The oxygen carrying hemoglobin interacts with the infrared and red
light that is emitted during the tests which is later sensed by the sensors
thereby recording the results. COVID-19 ensured the common population to own
the device for their regular monitoring of increasing and decreasing SPO2 concentration
in the blood which is a major symptom for any COVID-19 infected patient, thus influencing
a sudden jump in the growth of the market.
A partial list of major market players of the Vietnam pulse oximeter
market includes:
·
Curex Mediwell Vietnam
·
MTTS Co., Ltd. (Masimo Corporation)
·
Omron Healthcare Vietnam
·
Nihon Kohden Corporation Vietnam
·
Zacurate Vietnam
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“Northern
region may have dominated the market in historical period and continue to do so
in the next five years too, but Southern region is anticipated to be the
fastest growing region on account of improving healthcare. Population in the
region are gaining the awareness of the pulse oximeter for the early symptom of
COVID-19 thereby gaining the numbers in future five years. New investors are
advised for the intelligent investments,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based Vietnam management consulting
firm.
“Vietnam Pulse Oximeter
Market By Type (Fingertip v/s Handheld), By Sensor Type (Reusable v/s
Disposable), By Patient Type (Neonatal, Pediatric, Adult), By End User
(Hospitals & Clinics, Homecare, Ambulatory Care Centers, Others), By
Region, Competition Forecast & Opportunities, 2027”, has evaluated the
future growth potential of Vietnam Pulse oximeter and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Vietnam Pulse oximeter.
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