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

Transcutaneous 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.
 

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 emergence of COVID-19 is an unprecedented public health concern that had positively affected the transcutaneous oximetry systems market demand. The pandemic had increased the demand for continuous patient monitoring systems attributable to the rapidly decreasing levels of oxygen in COVID-19-infected patients. In order to provide optimal treatment and diagnosis, several healthcare facilities were actively attempting to expand the use of transcutaneous pulse oximetry to assess the oxygen levels in COVID-19-infected patients. During the first quarter of 2020 COVID-19 cases raised at an unprecedented rate fuelled the demand for products globally. These circumstances had resulted in a significant increase in demand for patient monitoring systems in hospitals, diagnostic laboratories, and ambulatory surgical centers among others.
 

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 increasing focus on patient monitoring during diagnosis and treatment is anticipated to drive the transcutaneous oximetry systems industry growth in the coming years. The rising prevalence of preterm birth, peripheral vascular disorders, and chronic limb-threatening ischemia among others has significantly increased the necessity to frequently monitor the blood oxygen saturation level of patients. The transcutaneous oximetry system determines the vital sign parameters such as TCOM or TcPO2 that help the physicians to decide the future course of action for medications and treatment. Patient monitoring is proving to be a critical mechanism during surgical interventions as it helps to determine the response of the patient during the procedure. Hospitals and ambulatory surgical centers involved in the treatment of Peripheral Vascular disease and diabetic foot ulcers are installed with advanced transcutaneous monitors to continuously monitor the patient to determine the oxygen level of the tissue below the skin.
 

Furthermore, several government organizations across the globe have implemented strict regulations and recommendations to continuously monitor the oxygen levels of patients suffering from chronic diseases. Furthermore, hospitals and clinics have focused more on oximeters for anesthesia monitoring during surgical procedures. The surge in the prevalence & morbidity associated with chronic respiratory diseases is amongst the key variables that are set to prove beneficial for the market. Industry players and governments are collaboratively emphasizing on patient safety during operation that has resulted in aligning the transcutaneous oximetry systems as an essential device in healthcare facilities. As a result, the surging in-patient hospitalization for various diagnosis and treatments is projected to fuel the transcutaneous oximetry systems adoption.
 

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.
 

Additionally, according to the Society for Vascular Medicine, this device offers the key advantage of being non-invasive, allowing for quick and precise measurement of tcpO2 without incisions or breaks in the patient's skin. As transcutaneous oximetry systems gain popularity, the integration of big data and artificial intelligence will generate real-time data, effectively reducing mortality related to vascular ischemia, chronic venous insufficiency, and more in the future. Consequently, the projected acceleration of the global market growth in the near future is driven by these novel advancements, the emergence of integrative technologies promoting precision, reduced turnaround time, and their associated benefits.
 

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.
 

A sudden spike in the number of COVID-19 cases globally witnessed a tremendous surge in product demand. During the third quarter of 2020, there was a significant rise in the number of COVID -19 patients that required immediate hospitalization due to low oxygen levels and decreased heart rate. This resulted in increased demand for patient monitoring systems such as transcutaneous oximetry systems in several hospitals and clinics. The high adoption rate of advanced transcutaneous oximeters offering enhanced patient monitoring resulted in a further rise in product adoption. Increasing patient admissions with diabetic foot ulcers and other chronic diseases coupled with the availability of highly skilled healthcare professionals are some other attributes that are impelling the market growth of the hospital segment positively.
 

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