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Insights into the Market During the Forecast Period (from 2023 to 28), the South America Pulse Oximeters Market is anticipated to expand at a CAGR of approximately 6%.
A pulse oximeter is a piece of equipment that uses light emissions at a specific wavelength to measure blood oxygen saturation levels. These devices are especially needed during and after sedation-related surgical procedures, as well as for health conditions like COPD (Chronic Obstructive Pulmonary Disease), anemia, lung cancer, asthma, and pneumonia, among others. which have an impact on breathing.
The rising incidence of cardiovascular diseases like rheumatic heart disease, congenital heart disease, coronary heart disease, and cerebrovascular disease across the region, primarily as a result of sedentary lifestyles and poor eating habits, would drive most of the market expansion. Due to the rising number of deaths caused by cardiovascular diseases, pulse oximeters, which are utilized actively in these medical conditions for the continuous monitoring of blood oxygen levels, are in high demand.
The market in South America benefited from the introduction of Covid-19. There was a significant demand for such products to measure hypoxic conditions in patients as the number of Covid cases skyrocketed. Brazil had the most Covid-19 cases in the entire region, which led to the highest sales.
The market is also being bolstered by the rising number of elderly people and respiratory conditions like asthma and pulmonary hypertension, both of which are on the rise. The ever-increasing number of patient care centers across South America to monitor patients’ health conditions is accelerating the industry as a result of the rising health concerns associated with the aging population.
The emergence of wearable pulse oximeters to track real-time blood oxygen concentration, particularly during strenuous physical activities, is encouraging industry expansion. Key Trend in the Market Accelerating Adoption of Wearable Pulse Oximeters As a result of the frequent depletion of blood oxygen levels caused by vigorous physical activity, constant monitoring is required. As a result, athletes and young people are in high demand for these products as people become more health conscious. Numerous businesses, including Xiaomi, Huawei, are introducing novel medical devices in countries like Brazil, Argentina, etc., in order to meet the rising demands of consumers and encourage market expansion.
Type-Based Market Segmentation:
Compact
Fingertip
Handheld
Wearable
Tabletop
Of both, compact sort procured a huge portion of the South America Heartbeat Oximeters Market during 2018-22, inferable from their moderateness and simple convenientce. Patients with asthma are the primary customers for these oximeters because they frequently experience hypoxic conditions that necessitate ongoing monitoring. The prevalence of asthma in Brazil is estimated to be around 20 million people in 2022, according to the Brazilian Society of Pneumology and Tisiology. This, in turn, has sped up the use of asthma products due to their ease of use.
Tabletop type, on the other hand, dominates the market. It is due to their increasing demand in intensive care units (ICUs), where measuring blood oxygen levels is the most important step in surgery or treatment, particularly for patients who are anesthetized and unconscious. As a result, the increasing demand for tabletop oximeters in hospitals is being exacerbated by the region’s rising number of plastic surgeries and myocardial bypass surgeries.
Considering End Users:
Hospitals Homecare Ambulatory Surgical Centers From 2018 to 22 due to the rising incidence of respiratory disorders in Brazil and Argentina and various government initiatives to increase the number of hospitals in the region to address these rising cases, hospitals held a significant share of this market. Additionally, due to their small size, ease of use, and wireless nature, these devices are expected to see significant adoption in homecare settings in the coming years. In addition, the demand for such oximeters in the homecare market would significantly rise in tandem with the rising number of patients in the region who suffer from lung or heart conditions and frequently experience shortness of breath.
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In addition, the governments of Brazil and Argentina are actively focusing on expanding the number of ambulatory surgical centers throughout the country because these facilities are useful for a variety of surgical procedures like cataract operations, knee arthroscopy, varicose vein surgery, and other similar procedures. Ambulatory surgical centers make it easier to perform outpatient surgeries with fewer resources, at lower costs, with shorter wait times, and to the satisfaction of patients. Given the increasing number of patients who require immediate medical attention, they prove to be quite effective. As a result, the number of ambulatory surgical centers with the highest adoption rates is expected to skyrocket throughout the region over the coming years.
Local Scene
Topographically, the South America Heartbeat Oximeters Market grows across:
Brazil
Argentina
Chile
Of all nations, Brazil is expected to overwhelm the market in South America. It is due to the rising number of cases of chronic respiratory conditions across the nation. Over the course of the past few years, Brazil has witnessed a significant number of viral diseases, which in turn has led to severe respiratory infections. For instance, according to Instituto Butantan, the Darwin variant of the influenza virus (H3N2) caused a viral outbreak in Brazil at the end of 2021. As a result, there has been an increase in demand for these medical condition monitoring devices.
In contrast, Argentina is expected to hold a significant share of the market in the coming years due to the rising number of pneumonia cases in the country. Heart diseases and chronic respiratory conditions are the leading causes of death in Argentina, according to the Ministry of Health. As a result, the country has seen an increase in the use of medical devices like pulse oximeters and an ever-increasing need to deal with the rising incidence of these diseases.
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Trends in the Market:
The need for such medical devices has been steadily rising in South America over the past few years, primarily as a result of the rising prevalence of respiratory diseases in children. Key Driver Rising Prevalence of Respiratory Diseases in Children The most recognizable respiratory illness distinguished among kids is the RSV (Respiratory Syncytial Infection) in Sao Paulo, Brazil, which prompts respiratory pressure and affects the requirement for beat oximeters in clinics to follow the patients’ circumstances.
The adults who have come into contact with respiratory syncytial viruses only experience mild illness, whereas the majority of children in this situation require medical attention. As a result, as the disease affects more children and more of them need to be admitted to a hospital, it becomes increasingly important to keep an eye on their oxygen levels all the time, which accelerates market growth in the region. In addition, the demand for pulse oximeters has been rising as a result of the rising incidence of acute respiratory infections (ARI) in children, which are brought on by a variety of lifestyle factors. These infections serve as early indicators of a child’s need for medical attention.
Possible Limitation: Increased Access to Pulse Oximeters Not Approved by the FDA Concerns about the dependability of homecare devices are limiting their use in South America. Consumers are concerned about the accuracy and safety of OTC pulse oximeters because most are not FDA-approved and can be purchased without a doctor’s prescription. Since ailments connected with respiratory and cardio messes are serious, patients require confirmation in regards to the items they use. As a result, customers’ doubts about the effectiveness of OTC pulse oximeters will impede market expansion in South America over the coming years.
Learning experience: Increasing Demand for Smart Pulse Oximeters The Pulse Oximeter Market in South America has benefited from the development of cutting-edge, smart pulse oximeters that can be connected to smartphones and enable remote monitoring of blood oxygen levels. Biosensors in smart variants measure heart rate and blood oxygen concentration and store the results in connected mobile apps. These oximeters can be used remotely to continuously monitor blood oxygen levels, especially during physical activities, and most of them fall into the wearable category. As a result, the market is expected to grow between 2023 and 2028 due to the increasing availability of these devices that incorporate cutting-edge technologies.
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Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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