Transcutaneous Oxygen Monitor Market Size, Share, Growth, and Industry Growth, By Type (Wound-healing Monitor, Baby Monitor, and Others), By Application (Hospital, Clinic, and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Transcutaneous Oxygen Monitor Market REPORT OVERVIEW

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The global transcutaneous oxygen monitor market size is predicted to value at USD 121.3 million in 2021 and is projected to touch USD 242.44 million by 2031, exhibiting a Compound annual growth rate (CAGR) of 7.2% during the forecast period.

Transcutaneous oxygen monitors are non-invasive and can measure the oxygen levels of tissue below the skin. Transcutaneous monitoring is used to measure oxygen levels as the bloodstream carries oxygen. Heated electrodes are used to improve oxygen diffusion as oxygen is reduced at the cathode, thus generating an electric current proportional to the oxygen concentration in the capillary bed underneath the sensor. Transcutaneous oxygen monitors play a crucial role by providing evidence on oxygen levels to tissues during absorption, transportation, and de-oxygenation.

The market is divided into type and application segments. The type segment comprises wound-healing and baby monitors, whereas the application segment comprises hospital and clinical uses. Transcutaneous oxygen monitors and measurement is essential for diagnosing individuals and is used for neonatal purposes. These devices have several benefits in clinical areas, such as quantification & diagnosis of peripheral diseases and treatment. Thus, these factors will drive market growth worldwide along with research and development innovations due to increasing healthcare expenditure. 

COVID-19 Impact: Travel Restrictions Hampered Worldwide Growth

The pandemic affected economies and industries in all regions due to lockdowns, travel bans and business shutdowns. Patients staying indoors due to fear of contamination prohibited them from undergoing routine healthcare checkups. The shutdown of various industries and factories affected the global supply chains. It negatively impacted the delivery schedules and sales of products worldwide, with significant manufacturing companies announcing delays in product deliveries and slumps in sales of their products. Thus, the industry was affected as the pandemic had dire consequences for the worldwide market.

LATEST TRENDS

"Increasing Demand due to Rise in Premature Births to Drive Market Growth"

The rise in premature births post the pandemic will drive the market share and growth of the industry. The pandemic negatively impacted pregnant women, leading to an exponential increase in premature births even after two years of the pandemic are over. Along with this, a surge in stress factors and other health complications restricted timely healthcare and intervention, thereby increasing the vulnerabilities of babies during the period. Thus, these factors will drive the product demand in the market.

Transcutaneous Oxygen Monitor Market SEGMENTATION

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• By Type

The market is categorized based on types into wound-healing monitors, baby monitors, and other types.

• By Application

The market is subcategorized into hospitals, clinics, and other uses based on applications.

DRIVING FACTORS

"Innovations in Research and Development to Lead Market Rise"

With leading industrial players launching new products under partnerships, collaborations, mergers, and acquisitions, innovations in the industry will drive the transcutaneous oxygen monitor market growth. The advent of advanced technological features in transcutaneous monitors to track patient recovery and progress effectively is a significant development driving the market growth. Along with this, rising expenditure in the healthcare sector to conduct research activities is an essential factor that will determine market growth.

"Rise in Chronic Diseases and Awareness Amongst People to Propel Growth"

The rise of chronic diseases worldwide post the pandemic will propel the market growth as the demand for transcutaneous products increases. Regions such as North America and Asia will lead the industry's market share due to increasing demand and supply. Developing severe diseases such as blood sugar and hypertension post-pandemic are the factors aiding the industry's growth and market share. Therefore, these regions are potential hotspots for investments.

RESTRAINING FACTORS

"High Maintenance Cost of Devices to Hamper Market Growth"

The high maintenance cost to maintain transcutaneous oxygen monitors and devices will hamper the market growth as the price of materials to construct the material increases rapidly. Ongoing tensions in the European region, rising inflation, supply chain disruptions, and heavy losses incurred by investors and manufacturing companies are also factors that may restrain the market growth. Therefore, increasing raw material prices due to inflation will impede the industry's growth trajectory along with a slump in demand due to decreasing consumer disposable incomes worldwide.

Transcutaneous Oxygen Monitor Market REGIONAL INSIGHTS

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"North America to Lead Market Share Owing to Rising Population"

The North American region will lead the transcutaneous oxygen monitor market share due to the rising population and increasing concern for healthcare problems in the region. The rise of improved healthcare facilities and increased premature births post the pandemic are the driving factors of the market. The increased healthcare expenditure by leading industrial players worldwide are also some factors that will lead to an increase in the industry's market share. Therefore, investors should look out for the U.S. as a potential hotspot for investments and profits with crucial mergers, acquisitions, partnerships, and collaborations in the region.

KEY INDUSTRIAL PLAYERS

"Market Players to Boost Market Growth"

The report analyzes various market players in the industry, and the information is published after proper research, analysis of trends, key developments, new initiatives, and technological developments and innovations. The report also includes thorough research on companies, regions, technical and environmental outcomes, and newly emerging industries' impact and risks. The study considers all the points after a comprehensive analysis, thus generating future possibilities for the market. Therefore, the factors mentioned in the report are subject to change as the dynamics and situation of the market change. The North American region will lead the worldwide market share owing to increased product demand in the U.S.

List of Market Players Profiled

• Radiometer (Denmark)
• Perimed AB (Sweden)
• Philips (Netherlands)
• Sentec (Switzerland)
• Medicap (India)
• HumaresCompany seven (U.S.)

INDUSTRY DEVELOPMENT

• June 2022: Denmark-based Radiometer and Etiometry have announced a partnership to enhance clinical efficiency in Neonatal Intensive Care Units. The collaboration will help both the companies in research and development activities, thereby increasing the demand for transcutaneous oxygen monitors in hospitals to monitor patients accurately. Informed decision-making, efficient performance tracking, and better ventilation of patients through mergers innovations will drive the market's growth.

REPORT COVERAGE

The report examines elements that affect the demand and supply factors and estimates dynamic market forces for the forecast period. It also offers drivers, restraints, the latest trends, and critical industrial developments. After evaluating the market factors, the report provides an extensive SWOT analysis. The research is subject to alteration if leading players and analysis of market dynamics change. The information estimates the factors mentioned, taken into consideration after thorough research. The report also provides information on segmentation, key industry developments, and an analysis of risks in the industry.