Wilmington, Delaware, United States, Nov. 06, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global wearable pulse oximeter market was estimated to have acquired US$ 309.0 million in 2021. It is anticipated to register a 7.0% CAGR from 2022 to 2031 and by 2031, the market is likely to gain US$ 594.5 million.
Wearable pulse oximeters are increasingly being adapted for use in pediatric and neonatal care. The devices are valuable for monitoring infants and young children, especially those with medical conditions. Wearable pulse oximeters are used for post surgery monitoring of patients, ensuring that they maintain stable oxygen levels during recovery. The application can lead to increased adoption in healthcare settings.
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Some wearable pulse oximeters are capable of providing continuous monitoring over extended periods. The feature is valuable for detecting subtle changes in oxygen levels and heart rate, making them suitable for early detection of health issues. The integration of artificial intelligence and machine learning algorithms into wearable pulse oximeters can help in data analysis and early detection of health anomalies, leading to improved health outcomes.
Global Wearable Pulse Oximeter Market: Key Players
The following companies are well known participants in the global wearable pulse oximeter market:
- Nonin Medical, Inc.
- Wellue
- Masimo Corporation
- GE Healthcare
- Contec Medical Systems Co., Ltd.
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Konica Minolta, Inc.
- Heal Force Bio-meditech Holdings Limited
- Viatom Technology Co. Ltd.
Key Findings of Market Report
- Some wearable pulse oximeters are integrated with electrocardiogram and other sensors to provide comprehensive health monitoring. The multi parameter approach enhances their utility and market appeal.
- Major healthcare and technology companies are investing in R&D to develop innovative wearable pulse oximeter products. The ongoing innovation is likely to drive further market growth.
- The increasing adoption of telehealth and telemedicine services is likely to boost the demand for wearable pulse oximeters, as these devices can facilitate remote consultations by providing vital sign data to healthcare professionals.
- The trend toward home based healthcare and telehealth services is creating a significant opportunity for wearable pulse oximeters. Patients and consumers can now monitor their oxygen levels and heart rate at home, reducing the need for frequent visits to healthcare facilities.
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Trends in the Wearable Pulse Oximeter Market
- The healthcare industry is increasingly adopting remote patient monitoring solutions to reduce hospital readmissions, improve patient outcomes, and lower healthcare costs. Wearable pulse oximeters can be integrated into remote monitoring programs, allowing healthcare providers to track patients' vital signs and intervene as needed.
- Wearable pulse oximeter technology continues to evolve, with improvements in accuracy, battery life, connectivity, and form factor. Manufacturers are developing smaller, more comfortable devices with better data accuracy, making them more appealing to consumers.
- Many wearable pulse oximeters can connect to smartphones and sync with health and fitness apps. The integration allows users to easily track and analyze their vital sign data, facilitating better health management.
- The ease of purchasing wearable devices online has made it convenient for consumers to acquire wearable pulse oximeters. eCommerce platforms have become a significant distribution channel for these products, further expanding market reach.
Global Market for Wearable Pulse Oximeter: Regional Outlook
Various reasons are propelling the growth of the wearable pulse oximeter market in different regions. The regions include,
North America
- Respiratory conditions like chronic obstructive pulmonary disease and sleep apnea are common in Europe. Wearable pulse oximeters are essential tools for managing and monitoring these conditions, driving their demand.
- European healthcare systems are increasingly integrating wearable devices like pulse oximeters into their services. The integration not only improves patient care but also provides opportunities for market growth.
Asia Pacific
- Asia Pacific is a hub for technology innovation. Advances in wearable technology, including wearable pulse oximeters, are driving the development of more accurate, user friendly, and feature rich devices.
- Wearable pulse oximeters are used in clinical settings for continuous monitoring of patients, both in hospitals and during home care. Their use in healthcare facilities is a significant driver of market expansion.
A few of the key developments by the players in this market are:
| Company Name | Key Development |
| Wellue Technology |
|
| Apple |
|
Global Wearable Pulse Oximeter Market Segmentation
Product
- Wrist Pulse Oximeters
- Ring Pulse Oximeters
- Foot Pulse Oximeters
Age Group
- Adult
- Pediatric
Distribution Channel
- Retail
- E-Commerce
- Direct Sales
Region
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East & Africa
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