Covina, Sept. 26, 2023 (GLOBE NEWSWIRE) -- What is Pulse Oximeters?
Pulse oximetry test is used for measuring the oxygen level of blood at kind of situations such as during or after surgery, to see lung medicines are working well or not, to see if ventilator is required or not for breathing, to check if person has sleep apnea.
Growing prevalence of chronic diseases and burden of respiratory conditions like COPD (Chronic Obstructive Pulmonary Disease) and asthma has provided lucrative opportunities in market growth. Further, increased adoption of unhealthy lifestyle such as smoking, unhealthy diet has become another factor in target market growth. Furthermore, advancement in technology coupled with improved medical devices is expected to fruitful the demand for Pulse Oximeter market growth in coming years.
Key Highlights:
- In October 2022, UCSF Hypoxia Laboratory and UCSF Center for Health Equity in Surgery and Anesthesia launched Open Oximetry Project for improving access to safe pulse oximeters across globe by sharing data with new standards & technologies for validation of oximeter.
- In January 2021, Tyto Care launched its new FDA ((Food and Drug Administration) approved pulse oximeter medical device to check blood oxygen saturation levels and heart rate in remote manner.
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Report Coverage:
| Attributes | Details |
| Pulse Oximeter Market Value (2022) | US$ 2.4Bn |
| Pulse Oximeter Market Projected Value (2032) | US$ 4.4Bn |
| Pulse Oximeter Market CAGR (2022 – 2032) | 10.8% |
Segmentation:
- By Type - Reusable Probes, Disposable Sensors
- By Product Type - Handheld Pulse Oximeter, Fingertip Pulse Oximeter
- By Age Group - Pediatric, Adult), By Technology (Conventional, Connected Devices
- By End-Users - Hospitals, Homecare, and Others
The report provides insights on the following pointers:
- Market Size & Growth: Assess current size and growth potential.
- Segmentation: Divide by product type, end-users, and geography.
- Drivers: Identify growth catalysts like health awareness and technology.
- Restraints: Consider obstacles like regulation and competition.
- Competitive Landscape: Analyze key players and strategies.
- Customer Preferences: Understand user needs and preferences.
Market Dynamics Drivers:
- Growing awareness of oxygen saturation's importance for health monitoring.
- Elevated demand due to the pandemic's respiratory concerns.
- Integration of oximeters into telemedicine platforms.
Restraints
- Disruptions affecting production and distribution.
Challenges
- Integration with telehealth platforms for remote monitoring.
- Growing demand for home-based monitoring solutions.
Analyst View:
Pulse oximeter are used to check any condition such as heart failure, heart attack, anemia, COPD, lung cancer, pneumonia and asthma that affect blood oxygen levels in human being which is likely to propel market growth. Further, advancement in medical devices and launch of new product is expected to fuel the demand for Pulse Oximeter market growth.
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What are the latest trends shaping the market, such as the adoption of remote patient monitoring and the integration of pulse oximeters into wearable devices?
- Remote Patient Monitoring: The adoption of remote patient monitoring systems has surged, especially with the COVID-19 pandemic. Pulse oximeters are integrated into these systems to monitor patients' oxygen levels remotely, enabling timely interventions and reducing hospitalizations.
- Wearable Pulse Oximeters: Wearable pulse oximeters have gained popularity. These compact devices can be worn on the wrist or finger, providing continuous monitoring for individuals, especially those with chronic respiratory conditions or athletes wanting to track oxygen levels during exercise.
- Integration with Smart Devices: Pulse oximeters are increasingly integrated with smartphones and smartwatches. This integration allows users to conveniently monitor their oxygen saturation levels through mobile apps and share data with healthcare providers.
- Telemedicine Integration: Pulse oximeters are being integrated into telemedicine platforms. Patients can use these devices at home and transmit real-time data to healthcare providers during telehealth consultations, improving remote diagnostics and care.
Key Companies in the Pulse Oximeters market include:
- Medtronic plc.
- Koninklijke Philips N.V.
- Masimo Corporation
- GE Healthcare
- ICU Medical Inc.
- Nonin Medical Inc.
- OSI Systems Inc.
- NIHON KOHDEN CORPORATION
- Dragerwerk AG & Co. KGaA
- CONTEC MEDICAL SYSTEMS CO., LTD.
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Conclusion:
The Pulse Oximeters Market is poised for significant growth driven by factors such as increasing health awareness, a rise in chronic diseases, and ongoing technological advancements. The market offers opportunities in telehealth integration, wearable devices, and emerging markets. However, it faces challenges related to regulatory compliance, pricing pressure, and competition from alternative technologies. To thrive in this market, companies should focus on innovation, customization, and addressing the healthcare needs of an aging population while ensuring data security and privacy in an evolving healthcare landscape.
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