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Transcutaneous Oximetry Systems Market

Market Insights on Transcutaneous Oximetry Systems Market covering sales outlook, demand forecast & up-to-date key trends

Transcutaneous Oximetry Systems Market By Product Type, Diagnostic Application, End-User & Region - Forecast 2022 – 2032

Transcutaneous Oximetry Systems Market Snapshot

The global demand for transcutaneous oximetry systems is poised to grow at a steady CAGR of around 5.68% during the forecast period between 2022 and 2032. Growth in the market is driven by rising prevalence of various diseases including peripheral vascular disorders and growing popularity of transcutaneous oximetry for measuring and monitoring oxygen levels in a non-invasive manner.

Report Attribute

Details

Transcutaneous Oximetry Systems Market Projected Growth Rate (2022-2032)

5.68% CAGR

Transcutaneous oximetry systems are advanced monitoring systems used to perform transcutaneous oximetry (TCPO2), the only effective, non-invasive and reliable method for measuring the local oxygen released from capillaries through skin, reflecting the metabolic state of the lower limbs. They are being increasingly used to assess the peri-wound oxygenation and severity of artery diseases, besides measuring blood & oxygen flow usually in legs and arms.

Over the last few decades, adoption rate of transcutaneous oximetry systems has significantly increased on account of their ability to predict wound healing or amputation healing in an effective manner.

Rising prevalence of numerous chronic diseases coupled with growing need for continuous monitoring of oxygen levels of tissues is anticipated to continue pushing the sales of transcutaneous oximetry systems during the forecast period.

Transcutaneous oximetry systems have become ideal tools used across end user destinations such as hospitals and ambulatory surgical centers for routine measurements such as evaluation of revascularization procedures and determination of peripheral vascular diseases and amputation level. Exponential growth of hospitals and ambulatory centers across the globe will thus generate lucrative sales prospects for transcutaneous oximetry systems during the forthcoming years.

Based on product type, neonatal monitoring systems are anticipated to witness strong demand during the forecast period, owing to the rising need for monitoring fluctuating oxygenation and ventilation status of neonates. These systems help the medical professionals to intervene immediately in case of any fluctuation in oxygen levels.

Which are Some Prominent Drivers Spearheading Transcutaneous Oximetry Systems Market Growth

Rising prevalence of various chronic diseases such as peripheral vascular disorders and wound healing disorder, growing demand for non-invasive monitoring systems, technological advancements in transcutaneous oximetry systems, rapidly expanding healthcare industry, and increasing government support are some of the major factors that are expected to boost the growth of transcutaneous oximetry systems market during the forecast period between 2022 and 2032.

With aging population, sedentary lifestyle and changing eating habits, there has been a rapid rise in the number of cardiovascular diseases such as peripheral vascular disorder across the world. For instance, around 8.5 million people in the United States have peripheral vascular disorders as per the National Library of Medicine report. This factor is acting as a catalyst for the growth of transcutaneous oximetry systems market and the trend is likely to continue in the future.

Similarly, increase in diabetic foot ulcer cases, which is the major cause of foot amputation, is expected to fuel the adoption of transcutaneous oximetry systems during the forecast period. Transcutaneous oximetry systems are being extensively used to check the need for amputation.

In addition to this, rising demand for advanced monitoring systems to monitor blood flow coupled with advancements in transcutaneous oximetry systems will further expand the transcutaneous oximetry systems market size during the forthcoming years.

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What are the Challenges Faced by the Transcutaneous Oximetry Systems Industry

Despite a positive growth outlook, the global transcutaneous oximetry systems market is facing various challenges that are likely to hamper its growth to some extent during the forecast period. Some of these factors are the high cost of advanced transcutaneous oximetry systems and lack of proper healthcare facilities across various developing and underdeveloped regions.

Will North America Retain its Dominance in the Global Transcutaneous Oximetry Systems Market

Currently, North America dominates the global transcutaneous oximetry systems market and the trend is likely to follow during the forecast period. Growth in the market is attributable to the rising adoption of advanced monitoring systems, increasing prevalence of various chronic disorders, and presence of leading medical device manufacturers.

Within North America, the U.S. remains at the top of the ladder on account of increasing healthcare spending, presence of leading transcutaneous oximetry system providers, and rising prevalence of cardiovascular diseases.

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Why is Asia Pacific Emerging as a Promising Market for Transcutaneous Oximetry Systems

According to Future Market Insights, the Asia Pacific transcutaneous oximetry systems market is expected to grow at a relatively higher CAGR over the forecast period between 2022 and 2032, owing to the rising healthcare expenditure, rapidly growing population, increasing patient pool, and rise in the number of end users.

Both government and private organizations across emerging countries like China and India are investing huge amounts on developing and modernizing the healthcare industry. This factor is likely to generate lucrative growth avenues within the Asia Pacific transcutaneous oximetry systems market during the forecast period.

Similarly, rising in the number of premature births and increasing prevalence of various cardiovascular diseases will boost market growth in the coming years.

Market Competition

Some of the key participants present in the global transcutaneous oximetry systems market include Koninklijke Philips N.V., Radiometer America Inc., Perimed AG, Medicap homecare GmbH, SenTec AG, and Radiology Inc., among others

These leading players are continuously focusing on introducing novel products with efficient features and affordable prices. Furthermore, they have adopted various growth strategies such as acquisitions, partnerships, and collaborations to expand their global footprint.

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Report Scope

Report Attribute

Details

Growth Rate

CAGR of 5.68% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Product Type
  • Diagnostic Application
  • End User
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • Koninklijke Philips N.V.
  • Radiometer America Inc.
  • Perimed AG
  • Medicap homecare GmbH
  • SenTec AG
  • Radiology Inc.
  • Others

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Key Segments Profiled in the Transcutaneous Oximetry Systems Industry Survey

By Product Type:

  • Vascular Diagnosis & Wound Healing Monitor
  • Neonatal Monitoring Systems
  • Others

By Diagnostic Application:

  • Peripheral Vascular Disease Diagnosis
  • Amputation Level Determination
  • Revascularization Procedures Evaluation
  • Hyperbaric Oxygen Therapy

By End User:

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers
  • Diagnostic Centers

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East & Africa

Frequently Asked Questions

FMI projects the global transcutaneous oximetry systems market to expand at around 5.68% CAGR by 2032

Asia Pacific is expected to emerge as the most opportunistic market for transcutaneous oximetry systems during the forecast period.

Koninklijke Philips N.V., Radiometer America Inc., and Perimed AG are some prominent transcutaneous oximetry systems manufacturers

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Sabyasachi Ghosh
Principal Consultant
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Transcutaneous Oximetry Systems Market