Vietnam Pulse Oximeter Market
Vietnam Pulse Oximeter Market Size to Expand at Steady CAGR of 7.1% During 2023–2029
Published | 10 January 2023
Vietnam pulse oximeter market is flourishing because of an increasing focus on managing rising prevalence of respiratory disorders among the country’s growing geriatric population, high adoption of efficient medical devices, and increasing technology advancements.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Vietnam pulse oximeter market size to grow at a CAGR of 7.1% during the forecast period between 2023 and 2029. Major factors for the expansion of Vietnam pulse oximeter market include rapidly growing healthcare sector and rising investments in the innovation of medical devices, including pulse oximeters. Consistent research and innovative product developments have resulted in the availability of new age technology incorporated gadgets in the country's healthcare sector. Nonetheless, large unmet needs are expected to drive market expansion in the coming years. Advanced pulse oximeters are crucial for the early detection and treatment of COVID-19 patients. Pulse oximeters are frequently used to monitor patient status throughout surgery while the patient is under anesthesia and after surgery. These are some of the primary reasons driving the growth of the Vietnam pulse oximeter market. Reusable sensors, fingertip type monitors, compact size, and affordability of the product are all contributing to the growth of the Vietnam pulse oximeter market. Increasing financial assistance through government initiatives and private direct funding from a variety of sources is also expected to aid market expansion. The growing senior population and their susceptibility to respiratory disorders are fueling the expansion of the Vietnam pulse oximeter market during the period in analysis. However, high cost of pulse oximeter and limited access to healthcare facilities in some parts of the region are anticipated to hinder the growth of Vietnam pulse oximeter market.
Vietnam Pulse Oximeter Market - Overview
A pulse oximeter is a device that estimates the amount of oxyhemoglobin in blood pumping through a network of capillaries in a patient by using a sensor attached to a finger, toe, or ear. It is a non-invasive method for determining a person's oxygen saturation. Although the reading of external oxygen saturation (SpO2) from arterial blood gas analysis is not always comparable to the more favorable reading of arterial oxygen saturation (SaO2) from arterial blood gas analysis, the two are sufficiently correlated that the safe, efficient, preventive, and cost-effective pulse oximetry method can be used to measure. In its most common application mode, a sensor device is often put on a small area of the patient's body, such as a fingertip or ear. Technology advancements are resulting in the emergence of new and sophisticated products, giving enormous potential opportunities for the pulse oximeter company. Because to technology advancements in pulse oximeter technology, hemoglobin levels, oxygen saturation, and pulse rate (PR) analysis have all increased. Multiwavelength analysis has been expanded to detect other hemoglobin species in addition to SpO2 and PR (methemoglobin, carboxyhemoglobin, and total hemoglobin). Morphological analyses of the waveform are now possible thanks to technology advancements in pulse oximeters. Digital pulse oximeters have also been introduced to the market, which is expected to boost pulse oximeter sales dramatically. Apps installed on cellphones operate digital pulse oximeters.
Vietnam Pulse Oximeter Market – By Patient Type
Based on patient type, Vietnam pulse oximeter market is segmented into Neonatal, Pediatric, and Adult. The adult segment is expected to hold the highest market share, because of an increasing number of geriatric population and their risks of getting various pulmonary diseases are higher; thus, the segment is expected to dominate the market while accounting for the greatest revenue share. In addition, a surging demand for self-care and health monitoring coupled with increased public awareness of pulse oximeters and their benefits will boost the growth of the Vietnam pulse oximeter market.
Impact of COVID-19 on Vietnam Pulse Oximeter Market
COVID-19 crisis increased demand for pulse oximeters, and a very concerned public that wanted to monitor their own health as well as the health of their loved ones chose self-operated, easier-to-use pulse oximeters. The pandemic also led in a significant growth in monitoring system consumption, both in hospitals and at home, and the industry is increasingly focusing on enhancing the production to meet the increased demand for respiratory monitoring equipment, such as pulse oximeters. During the first quarter of 2020, the market observed a surge in demand for specific items related to the COVID-19 response, particularly respiratory, multi parameter monitoring systems, and point-of-care cardiac monitoring products. Therefore, expanding distribution channels for such monitoring medical devices are also expected to bolster the expansion of the Vietnam pulse oximeter market during the forecast period.
Major players operating in Vietnam pulse oximeter market include Curex Mediwell Vietnam, MTTS Co., Ltd. (Masimo Corporation), Omron Healthcare Vietnam, Nihon Kohden Corporation Vietnam, Zacurate Vietnam, and GE Healthcare. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Vietnam Pulse Oximeter Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Vietnam Pulse Oximeter Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- Vietnam Pulse Oximeter Market - By Type (Fingertip, Handheld); By Sensor Type (Reusable, Disposable) By Patient Type (Neonatal, Pediatric, Adult); By End User (Hospitals & Clinics, Homecare, Ambulatory Care Centers); By Region (North, Central, South), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Publish Date: January 2023
Increasing instances of respiratory disorders, surging demand for efficient medical devices and growing aging population are projected to propel the expansion of Vietnam pulse oximeter market during forecast period between 2023 and 2029
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