Pulse Oximetry Market size is set to grow by USD 1139.54 million from 2023-2027, Increasing prevalence of chronic respiratory diseases boost the market, Technavio

NEW YORK, April 15, 2024 /PRNewswire/ -- The global pulse oximetry market size is estimated to grow by USD 1139.54 mn from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of over 8.27% during the forecast period. The Pulse Oximetry Market caters to various indications, including intubation, cardiac arrest, sedation, respiratory disorders, and sleep apnea. Chronic respiratory conditions like COPD, asthma, and OSA are on the rise, particularly in Asia. Asthma causes 6-7 deaths per 1,000 annually. In 2022, approximately 34 million people in India had asthma. Pulse oximeters come in forms like fingertip, handheld, and tabletop, with features such as Bluetooth, memory, and data transfer. They are used in hospitals, ambulatory surgical centers, and newborn screening. Devices include wireless, smart, and alarm systems. Silicon adhesive ensures signal acquisition, and repositionability enhances user convenience.

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Segment Overview 

This pulse oximetry market report extensively covers market segmentation by Product (Bedside/desktop pulse oximeters, Handheld pulse oximeters, Fingertip pulse oximeters, Wrist-worn pulse oximeters) End-user (Hospitals, clinics, Alternative care settings) Geography (North America, Europe, Asia, Rest of World (ROW))

Market segmentation by Product

The global pulse oximetry market has experienced significant growth, particularly in hospitals and healthcare facilities, due to the increasing prevalence of respiratory disorders, sleep disorders, and chronic diseases. The market includes various types of pulse oximeters, such as fingertip, handheld, and tabletop models. These devices have become essential tools for pilots, athletes, mountaineers, and other individuals requiring real-time oxygen saturation level monitoring. During the pandemic, handheld and fingertip pulse oximeters gained popularity for home use. Infants and neonates also benefit from these devices during newborn screening and hospital care. Advanced pulse oximeters offer Bluetooth connectivity, memory, and data transfer capabilities. Hospitals, ambulatory surgical centers, and geriatric populations utilize patient monitoring devices, including wireless pulse oximeters, to reduce morbidity and mortality. Accuracy, repositionability, and smart meter features are crucial for these devices. Silicon adhesive and signal acquisition technology ensure proper device attachment and reliable signal acquisition. Alarm systems and Bluetooth connectivity provide added safety and convenience. Pneumonia and other respiratory disorders continue to drive the demand for these vital stats monitoring devices.

Geography Overview

The Pulse Oximetry Market in North America is driven by the high prevalence of respiratory disorders and chronic diseases among the geriatric population. Patient monitoring devices, including Bluetooth and wire monitoring devices, play a crucial role in measuring oxygen saturation levels and ensuring patient safety during critical care, anesthesia, childbirth, surgery, neonatal, and pediatric care. Vendors such as General Electric Co., Medtronic, Masimo, and Smiths Medical dominate the market, offering advanced products like wireless pulse oximeters with silicon adhesive, signal acquisition, repositionability, smart meters, and alarm systems. Technological advancements enable Bluetooth connectivity, enabling proactive monitoring for home consumers and clinicians. The pandemic has increased demand for pulse oximeters among various populations, including pilots, athletes, mountaineers, and infants, highlighting the importance of accuracy and data transfer capabilities.

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• The pulse oximetry market is evolving, with vendors expanding online to reach home healthcare consumers. Keywords include geriatric population, patient monitoring devices, Bluetooth and wire devices, oxygen saturation, morbidity and mortality, wireless pulse oximeters, and technological advancements. Vendors target respiratory disorders, vital stats monitoring, patient safety, and remote monitoring for home consumers, clinicians, and various care settings. Online marketing strategies include social media presence, Bluetooth connectivity, and data transfer for hospitals and ambulatory surgical centers. The pandemic has increased demand for pulse oximeters for coronavirus patients and other populations like pilots, athletes, and mountaineers.
• The pulse oximetry market encompasses various applications, including patient safety in anesthesia, critical care, childbirth, surgery, neonatal, and pediatric care. Technological advancements offer proactive monitoring for home consumers and clinicians through wrist, fingertip, and handheld devices. However, potential inaccuracies from factors like abnormal hemoglobin, anemia, peripheral circulation issues, bright light, and nail varnish affect readings. Three to four percent of tests in hospitals and newborn screening may have errors. Lower-priced pulse oximeters can have inaccurate saturation readings during hypoxia. Applications include remote monitoring, coronavirus pandemic response, and use by pilots, athletes, and mountaineers.

Insights on Market Drivers, trends, & Challenges, historic period(2017 - 2021) and forecast period(2023-2027)- Request a sample report!

Research Analysis

The Pulse Oximetry Market has experienced significant growth due to the increasing demand for patient monitoring devices, particularly among the geriatric population and those with respiratory disorders. Bluetooth and wireless pulse oximeters have gained popularity for their convenience and proactive monitoring capabilities, allowing home consumers and clinicians to keep a close eye on vital stats such as oxygen saturation levels. Technological advancements have led to the development of fingertip pulse oximeters, making it easier for remote monitoring in various settings, including critical care, anesthesia, childbirth, surgery, neonatal, and pediatric care. The pandemic has further accelerated the adoption of these devices, ensuring patient safety during coronavirus outbreaks.

Market Research Overview

The Pulse Oximetry market is a significant segment in the healthcare industry, driven by the increasing demand for non-invasive patient monitoring solutions. Devices such as Pulse Oximeters measure the oxygen saturation level in a patient's blood and pulse rate, providing critical health information in real-time. The market is witnessing growth due to the rising prevalence of chronic diseases, increasing healthcare expenditures, and technological advancements. Moreover, the market is expected to experience robust growth in the coming years, with a focus on developing portable, wireless, and cost-effective devices. Companies like Philips, Masimo, and Nonin are key players in the market, offering innovative solutions to meet the evolving needs of healthcare providers and patients alike. The market for Pulse Oximetry devices is a vital component in the global healthcare landscape, enabling early detection and effective management of various health conditions.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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