Transcutaneous Oximetry Systems Market - By Channel Type (Single Channel, Multichannel), By Application (Peripheral Vascular Disorders, Diabetic Foot Ulcers, Preterm Births), By End-use (Hospitals, Diagnostic Centers, Ambulatory Surgical Centers), & Forecast, 2023 – 2032
Published Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationTranscutaneous Oximetry Systems Market Size
Transcutaneous Oximetry Systems Market size was valued at around USD 132 million in 2022 and is anticipated to demonstrate a CAGR of over 5.5% between 2023 and 2032. Technological advancement is set to propel the industry growth during the forecast period. Advancements in transcutaneous monitor manufacturing technologies result in an improvement in peripheral vascular disorders, diabetic foot ulcers, and wound healing disorder treatment procedures.
These oximetry systems are specially designed for sleep diagnostics, neonatal intensive care, etc. Advanced connectivity & reporting features are allowing healthcare professionals to store, share, and manage data reports.
Digital technology is further providing application prospects for personalized peripheral vascular disease treatment through integrating advanced sensor platforms. These advantages pertaining to transcutaneous oximetry systems are attributable to ongoing R&D activities and significant technological advancements. As a result, the recent technological advancements are set to increase the demand for transcutaneous oximetry systems that will prove beneficial for market expansion.
Transcutaneous oximetry systems monitoring is a non-invasive method for patients that need continuous monitoring of oxygen and carbon dioxide with minimal blood draws.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Transcutaneous Oximetry Systems Market Size in 2022 | USD 132.2 Million |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 5.5% |
| 2032 Value Projection | USD 223.2 Million |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 180 |
| Tables, Charts & Figures | 363 |
| Segments covered | Channel type, Application, End-use and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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However, high cost related to transcutaneous oximetry systems is a major factor that may restrain the market growth during the forecast period. Transcutaneous monitoring is recommended for people with diabetic foot ulcers and other types of wound-healing disorders. Similarly, the increasing number of patients suffering from peripheral vascular diseases creates demand for effective treatments; however, the high cost of these transcutaneous oximetry systems may restrict their adoption, especially among people with lower socio-economic status and across low-income countries.
COVID-19 Impact
The COVID-19 pandemic brought with it an alarming public health crisis that fueled a surge in demand for transcutaneous oximetry systems. As the virus rapidly depleted the oxygen levels in infected patients, hospitals and other healthcare facilities urgently bolstered their use of continuous patient monitoring systems. This increased demand was driven by the need for precise oxygen level measurements to guide treatment and diagnosis. The first quarter of 2020 witnessed an explosion of COVID-19 cases worldwide, driving up the global demand for these systems. This surge extended beyond traditional hospital settings, reaching diagnostic laboratories and even ambulatory surgical centers.
Leading industry manufacturers were increasingly focusing on expanding production to fulfil the growing demand for respiratory monitoring equipment comprising transcutaneous oximetry systems. Furthermore, technological advancements and new product launches by the major players operating in the market are expected to create lucrative opportunities for market growth during the forecast period.
Transcutaneous Oximetry Systems Market Trends
The importance of keeping a close eye on patients during diagnosis and treatment has been growing, and this is expected to boost the market for transcutaneous oximetry systems in the years to come. More and more babies are being born prematurely, and there are more people with peripheral vascular diseases and chronic limb-threatening ischemia. This means that doctors need to check patients' blood oxygen levels more often. Transcutaneous oximetry systems can measure important vital signs like TCOM or TcPO2. This information helps doctors decide on the best medications and treatments. Monitoring patients closely is also crucial during surgery because it shows how the patient is responding to the procedure. Hospitals and surgery centers that treat peripheral vascular disease and diabetic foot ulcers have started using advanced transcutaneous monitors to keep a constant eye on patients' oxygen levels below the skin.
Hey! Check this out. Governments around the world are getting serious about making sure folks with chronic illnesses have their oxygen levels in check. They're passing laws and giving advice to hospitals to keep a close eye on these patients. Speaking of hospitals, they're all about using these little things called oximeters to monitor oxygen levels during surgeries. Why? Because it's all about keeping patients safe. And guess what? People are getting sicker with breathing problems these days. That's good news for the oximeter market, because more people need them. Companies and governments are working together to make sure patients are safe during surgeries, and that means making sure transcutaneous oximeters are a regular part of medical care. And as more people end up in the hospital, the need for these oximeters is only going to grow.
Transcutaneous Oximetry Systems Market Analysis
Based on channel type, the transcutaneous oximetry systems market is segmented as single channel and multichannel. The multichannel segment held the majority of the market share in 2022 and was valued at over USD 96 million. This segment share is primarily attributed to novel technological advancement and an increase in the awareness of benefits related to the use of multichannel transcutaneous oxygen monitors. The biggest advantage of multichannel transcutaneous monitors is that they can easily measure the multitude of signal variations that are significantly applicable to patient monitoring systems.
This device stands out for being non-invasive, meaning it doesn't need to break the skin to measure tcpO2. This makes it a quick and easy way to monitor oxygen levels. As transcutaneous oximetry becomes more popular, it's combining with big data and AI to create real-time data. This is a game-changer for conditions like vascular ischemia and chronic venous insufficiency. These cutting-edge advancements are fueling a surge in the global market for transcutaneous oximetry. They're making these devices more accurate, faster, and more helpful than ever before.
Based on application, the transcutaneous oximetry systems market is segmented as peripheral vascular disorders, diabetic foot ulcers, preterm births, and others. The peripheral vascular disorders segment held a dominant market share in 2022 and was valued at around USD 50 million. The increasing prevalence of peripheral vascular disorders is anticipated to drive the overall market demand in the forecast years.
Moreover, altered, and poor lifestyle choices such as lack of bodily activities, drinking, smoking, and other factors are significantly contributing to the surging incidence of blood circulation disorders. The next-generation transcutaneous oximetry systems model will be wireless, using optical signals to continuously and non-invasively communicate with the subcutaneously placed biosensor. Thus, the above-stated factors with regard to the growing product adoption are anticipated to drive the market growth further in the forecast years.
Based on end-use, the transcutaneous oximetry systems market is segmented as hospitals, diagnostic centers, ambulatory surgical centers, and others. The hospitals segment held significant share in 2022 and is projected to reach more than USD 99 million by the end of 2032. This high market share is owing to the rising prevalence of peripheral vascular ailments requiring continuous oxygen monitoring, the rising incidence of preterm birth, and the subsequent number of hospital admissions among others.
As COVID-19 cases exploded worldwide, there was a huge spike in demand for medical supplies. In the middle of 2020, many COVID-19 patients needed to be rushed to the hospital because their oxygen levels were low and their hearts were beating too slowly. This meant that hospitals and clinics needed a lot more patient monitors, such as machines that measure oxygen levels through the skin. Since these advanced monitors provide better ways to keep an eye on patients, more and more hospitals and clinics started using them. And with more and more people being admitted to the hospital for diabetic foot ulcers and other long-term illnesses, and since there were plenty of experienced healthcare professionals on hand, the hospital segment of the market for these monitors kept growing.
U.S. transcutaneous oximetry systems market with a significant market share in 2022 and is anticipated to expand at a considerable pace to reach around USD 91 million by 2032. The growing prevalence of preterm birth and the surging adoption of advanced patient monitoring systems are some of the major factors that are driving the market growth in the country.
Transcutaneous Oximetry Systems Market Share
Some of the major market players operating in the transcutaneous oximetry systems market are
- Advin Health Care
- Cephalon
- Medicap Homecare GmbH
- Perimed AB
- Koninklijke Philips N.V.
Major market players are adopting strategic formulations such as forward integration, new product development, geographical expansion, and research collaborations to garner maximum industry share and promote company growth.
Transcutaneous Oximetry Systems Industry News
- In June 2022 Radiometer announced a partnership with Etiometry to enhance neonatal intensive care clinical workflows and patient care. Integrating the Etiometry platform with Radiometer’s real-time transcutaneous monitoring solutions allowed clinicians across the care continuum to view carbon dioxide trends with other physiologic parameters consolidated on one screen to streamline patient care management. As a result, this collaboration promoted Radiometer’s existing portfolio of transcutaneous oximetry systems.
- In February 2022, Radiometer collaborated with the Compumedics to include the TCM5 Flex Transcutaneous Monitor, as part of Compumedics’ already comprehensive range of sleep diagnostic solutions. Similarly, through this partnership Compumedics became an official distributor of the TCM 5 Flex in Australia and New Zealand. Thus, this strategic move assisted the company in bolstering its product portfolio and offered a competitive edge.
Transcutaneous oximetry systems market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD (million) and volume (Units) from 2018 to 2032 for the following segments
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By Channel Type
- Single Channel
- Multichannel
By Application
- Peripheral Vascular Disorders
- Diabetic Foot Ulcers
- Preterm Births
- Others
By End-use
- Hospitals
- Diagnostic Centers
- Ambulatory Surgical Centers
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Poland
- Sweden
- The Netherlands
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Thailand
- Indonesia
- Philippines
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Israel
- Turkey
- Iran
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