PALO ALTO, Calif.--The U.S. market for pulse oximetry is set to grow more than 150 percent over the next six years, with both hospitals and alternative markets like home care driving the expansion, according to a recent report.
Frost & Sullivan's "U.S. Pulse Oximetry Monitoring Equipment Market" found that the market earned $201 million in 2006 and estimates that it will hit $310 million in 2013.
According to the report, miniaturized pulse oximeters with telemetry and/or data recording capabilities will generate revenues in non-traditional segments like home monitoring, while versatile bedside oximeters are likely to grow in hospitals' low-acuity floors.
"The home monitoring market is witnessing a boost in demand for handheld and finger pulse oximetry," said 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 could limit the total market revenue growth, the analysis found. The market may also be restricted in the hospital segment by a high level of maturity coupled with budget limitations.
Looking into niche markets outside traditional health care and offering cost-optimized monitors will help improve oximeters' uptake, the research firm said. High-end products like modular monitors were noted as promotable because they are highly versatile as well as upgradeable.
New modular monitors can be used as bedside or portable systems with telemetry data communication capabilities, and also by hospitals to control costs in the long run, the report said.
