The global MRI Pulse Oximeters Market, valued at approximately USD 31.6 million in 2022, is expected to grow at a steady compound annual growth rate (CAGR) of 2.5%, reaching a valuation of USD 36.5 million by 2028. This growth reflects the increasing demand for specialized monitoring solutions in magnetic resonance imaging (MRI) environments.
MRI pulse oximeters are essential tools designed to provide accurate oxygen saturation and pulse rate readings during MRI procedures. Their demand is primarily driven by the growing adoption of MRI technology in diagnosing various health conditions and the need for safe and non-invasive patient monitoring during these procedures.
Advancements in MRI-compatible medical devices, including improved sensor technologies and wireless capabilities, are enhancing the usability and reliability of pulse oximeters in challenging environments. Furthermore, rising investments in healthcare infrastructure and the increasing prevalence of chronic conditions requiring detailed imaging diagnostics are contributing to market growth.
North America dominates the global MRI pulse oximeters market due to its advanced healthcare systems and higher adoption of innovative technologies. Europe and Asia-Pacific are also witnessing growing demand, fueled by increased investments in medical imaging and diagnostic capabilities.
Key Takeaways:
- The global MRI pulse oximeters market is projected to grow from USD 31.6 million in 2022 to USD 36.5 million by 2028, at a CAGR of 2.5%.
- Demand is driven by the growing adoption of MRI technology and the need for specialized patient monitoring devices.
- Advancements in MRI-compatible sensors and wireless technologies are improving device performance and patient outcomes.
- North America leads the market, while Europe and Asia-Pacific are emerging as key growth regions due to increasing investments in diagnostic imaging.
Key Growth Factors
- Increasing Demand for Advanced Monitoring: The rising prevalence of chronic diseases and the need for effective monitoring during MRI procedures are driving the demand for MRI pulse oximeters.
- Technological Advancements: Innovations in wireless MRI pulse oximeters, which account for about 63.7% of the market share, are enhancing functionality and convenience for healthcare providers.
- Healthcare Sector Developments: Significant advancements in the healthcare sector, including the integration of novel diagnostic techniques, are contributing to market growth.
Regional Insights
- North America is expected to dominate the market, driven by advanced healthcare infrastructure and high adoption rates of innovative medical devices.
- Emerging markets in Asia-Pacific are also anticipated to show significant growth due to increasing healthcare investments and rising patient populations.
Future Outlook
The MRI pulse oximeters market is set for gradual growth, supported by ongoing technological innovations and an increasing focus on patient safety during MRI procedures. As healthcare continues to evolve, the demand for advanced monitoring solutions will likely expand, ensuring sustained market development.
Competitive Landscape
MRI pulse oximeter manufacturers remain focused on meeting the needs for pulse oximetry on infants, pediatrics, and adults in fixed-site as well as mobile MRI units.
- Masimo launched two health monitoring systems named Rad-97 Pulse-CO Oximeter and SedLine Brain Function Monitoring. These gadgets are mostly targeted toward the Indian market. Clinicians and practitioners in India feel that by using these gadgets, they will be able to better supervise their patients.
A Comprehensive Full Report
Key Companies Profiled
Koninklijke Philips N.V.; Nonin; IRadimed Corporation; EMCO Meditek Pvt. Ltd.; MIPM; Hamilton Medical; General Electric Company; Turner Medical; Medtronic; Zensorium
Key Key Segments of MRI Pulse Oximeters Industry Research
By Product Type:
- Wired MRI Pulse Oximeters
- Wireless MRI Pulse Oximeters
By Modality:
- Sensors with Monitors
- Sensors without Monitors
By End User:
- Hospitals
- Diagnostic Laboratories
- Ambulatory Surgical Centers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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