According to a report by iData Research, the leading global authority in medical device market research, the market for pulse oximeters in the U.S., Asia Pacific and Europe is expected to grow to over $1.3 billion by 2020.
This market includes a range of monitors and sensors including bedside, handheld and fingertip monitors; disposable and reusable sensors. Market growth can be attributed to cost savings of reprocessed disposable sensors and the lower price point of consumer pulse oximeters that are selling well through retail.
Consumer sales of pulse oximeters through retailers, such as Amazon, Walgreens, and other distribution channels, provide manufacturers with lucrative cash sales. "The landscape remains very competitive as both domestic and overseas vendors, small and large, offer both FDA-approved and non FDA-approved devices for sale through retail spaces and other distribution channels," says Dr. Zamanian, CEO of iData. These manufactuers market their products as reliable pulse oximeters for sports, aviation, and general wellness management use.
Covidien and Masimo are battling for top spot in the global market. Both are stronger competitors in the pulse oximetry sensor market than in the monitor market. Other notable competitors include Nonin Medical, Fukuda Denshi, Smiths Medical and ChoiceMMed.
Latest Trends and Market Developments:
Nonin recently announced FDA clearance of their model 3231 OEM/eHealth finger pulse oximeter for use in the United States. The finger pulse oximeter measures oxygen saturation and pulse rate in pediatric to adult patients.
Masimo currently offers a consumer pulse oximeter with smartphone connectivity, the iSpO2™ for sports and aviation use. The version intended for medical use, the iSpO2 ™ Rx Pulse Oximeter for Android™ and iOS devices has recently received CE Mark clearance in select countries.
Masimo's Rainbow DCI-mini – the first non-invasive haemoglobin (SpHb) spot-check sensor designed for infants and children weighing between 3 and 30 kg, received CE Mark approval in Europe and regulatory clearance in Japan late August 2014.
Covidien's pulse oximetry products are offered as part of their Nellcor. They announced their CE mark and launch of Nellcor™ Portable SpO2 Patient Monitoring System in Q2 of 2014. This is the first commercially available portable oximetry equipped with home care and sleep study modes which complies with IEC 60601-1-11 standards for devices used in home care settings.
Source: http://www.idataresearch.com/