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Smart Pulse Oximeters: by type (Finger Pulse Oximeters, Handheld Pulse Oximeters, Wrist Pulse Oximeters, Pediatric Pulse Oximeters), by end use (Hospitals & Clinics, Ambulatory Surgical Centers, Home Care Setting), And Region - Global Analysis of Market Size, Share & Trends For 2019-2020 And Forecasts To 2031
Smart Pulse Oximeters Market to surpass USD 2.2 billion by 2032 from USD 1.43 billion in 2021 at a CAGR of 7.7% throughout the forecast period 2021-31.
A pulse oximeter is a device that measures the oxygen saturation of a person. It is a non-invasive approach that estimates blood oxygen saturation and pulse rate using laser beams. Pulse oximeters can help people with respiratory problems like pneumonia, emphysema, lung cancer, and infections, as well as cardiovascular problems like congestive heart failure, excessive blood pressure, coronary artery disease, and cardiac arrest. These are also used to monitor blood oxygen saturation levels in very young infants and people who suffer from sleep apnea. The current COVID-19 pandemic has spurred demand for smart pulse oximeters, as the illness produces a decline in blood oxygen saturation levels, which must be monitored using pulse oximeters.
Global Smart Pulse Oximeters market is expected to project a notable CAGR of 7.7% in 2031.
Global Smart Pulse Oximeters to surpass USD 2.2 billion by 2031 from USD 1.43 billion in 2021 at a CAGR of 7.7% in the coming years, i.e., 2021-31. With increasing age, the chances of developing cardiovascular and respiratory problems rise. According to the World Health Organization, the global population over the age of 60 is expected to nearly double from 12 percent to 22 percent by 2050. The rise in the senior population will result in a higher need for smart oximeters in the future. Furthermore, cardiovascular illnesses are the biggest cause of death worldwide, claiming the lives of XXXX million people each year. Furthermore, COPD is the world's third-leading cause of death, accounting for XXXX million fatalities in 2019. During the projected period, these factors are expected to promote the worldwide smart oximeters market's growth.
Finger pulse segment to grow with the highest CAGR during 2021-31
Global Smart Pulse Oximeters Market is fragmented by type into Finger Pulse Oximeters, Handheld Pulse Oximeters, Wrist Pulse Oximeters, Pediatric Pulse Oximeters. A finger pulse oximeter is a small clamp-like device that measures blood oxygen saturation levels on a finger, earlobe, or toe. The readouts and measurements of blood oxygen saturation, heart rate, breathing rate, and other parameters are frequently displayed on a tiny screen. These smart devices also have networking features such as Bluetooth, which make it simple to track and share readings. The most common and commonly used types of oximeters are these. The market for smart pulse oximeters is dominated by finger pulse oximeters.
Handheld pulse oximeters usually have a larger display to make it easier to see the patient's state. A reusable sensor is attached onto the finger and connected to the handheld oxygen saturation meter via a cable. Additional features like as audio alerts, data storage memory, and rechargeable batteries may be included in these devices.
Hospitals & Clinics segment to grow with the highest CAGR during 2021-31
Global Smart Pulse Oximeters market is segmented by end use into Hospitals & Clinics, Ambulatory Surgical Centers, Home Care Setting. In hospitals and clinics, a considerable number of people with chronic conditions are monitored. Patients typically choose to be treated in hospitals and clinics because advanced and comprehensive therapies are accessible. In 2019, there were 6,146 hospitals in the United States, with 36,353,946 hospital admissions, according to the American Hospital Association. The segmental expansion is expected to be fueled by a high number of available facilities.
Increased prevalence of cardiovascular and respiratory disorders due to a growing senior population
With increasing age, the chances of developing cardiovascular and respiratory problems rise. According to the World Health Organization, the global population over the age of 60 is expected to nearly double from 12 percent to 22 percent by 2050. The rise in the senior population will result in a higher need for smart oximeters in the future. Furthermore, cardiovascular illnesses are the biggest cause of death worldwide, claiming the lives of XXXX million people each year. Furthermore, COPD is the world's third-leading cause of death, accounting for XXXX million fatalities in 2019. During the projected period, these factors are expected to promote the worldwide smart oximeters market's growth.
Advancement in R&D
The accuracy of the smart pulse oximeter has greatly improved because to advances in sensor technology. It has also added a slew of smart capabilities to the smartphone. Furthermore, substantial advancements in AI and IoT have enabled these small gadgets to become extremely intelligent. The need for smart medical gadgets for health wellbeing has risen dramatically in recent years. As a result, the smart pulse oximeter market has tremendous development potential due to increasing technology advancements and device portability. The global Smart Pulse Oximeters market is expected to increase rapidly between 2021 and 2031, according to Fatpos global.
Risk of inaccurate readings
Several smart pulse oximeters are available on the market as over-the-counter (OTC) items that have not been reviewed by the FDA. These oximeters are not meant for medical use and are offered directly to consumers in stores or online as general wellness products or for sports use. These gadgets are frequently inaccurate, resulting in misdiagnosis and self-treatment. Furthermore, various counterfeit products on the market increase the danger of diagnosing inaccuracy. As a result, the danger of inaccuracy limits the market for smart pulse oximeters.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Smart Pulse Oximeters market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America accounted for XX percent of the market in 2021, and the region is expected to grow at a CAGR of XX percent over the next decade. Because of the well-established healthcare system, the high adoption rate of smart medical devices, and the existence of a large number of medical device businesses, the North American market accounted for the highest share in 2020. Furthermore, the rising frequency of cardiovascular and respiratory disorders, as well as increasing patient awareness of smart pulse oximeters, is driving market growth. The key market players in this region, as well as their contributions through mergers and acquisitions and product launches, are also helping to drive market expansion.
COVID-19's increasing prevalence is expected to have an impact on market growth throughout the projection period. During the early stages of the pandemic, the bulk of medical device businesses limited or stopped their manufacturing and supply activities, resulting in considerable losses and hampered the market for smart pulse oximeters. As the corona virus outbreak progressed, however, there was a surge in demand for smart pulse oximeters. Several new companies have joined the market to cover the demand-supply gap and profit from the increase in demand, gaining considerable market share in the process.
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REPORT ATTRIBUTE |
DETAILS |
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Market size value in 2021 |
USD 1.43 billion |
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Revenue forecast in 2031 |
USD 2.2 billion |
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Growth Rate |
CAGR of 7.7% from 2021 to 2031 |
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Base year for estimation |
2020 |
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Quantitative units |
Revenue in USD million and CAGR from 2021 to 2031 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Type, End use, and Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key companies profiled |
GE Healthcare (US) • Koninklijke Philips N.V. (Netherlands) • Masimo Corporation (US) • Nihon Kohden Corporation (Japan) • Nonnin Medical (US) • Smiths Medical (US) • Mindray (US) • Contec Medical Systems Co., Ltd. (China) • Shenzhen Creative Industry Co.Ltd. (China) • iHealth Labs Inc. (US) • Beurer GmbH (Germany)and Other Prominent Players |
Smart Pulse Oximeters market size was estimated at USD 1.43 billion in 2021 and is expected to reach USD 2.2 billion in 2031.
A pulse oximeter is a device that measures the oxygen saturation of a person. It is a non-invasive approach that estimates blood oxygen saturation and pulse rate using laser beams. Pulse oximeters can help people with respiratory problems like pneumonia, emphysema, lung cancer, and infections, as well as cardiovascular problems like congestive heart failure, excessive blood pressure, coronary artery disease, and cardiac arrest
Finger pulse segment accounted for the largest Smart Pulse Oximeters market share.
Key players: GE Healthcare (US) • Koninklijke Philips N.V. (Netherlands) • Masimo Corporation (US) • Nihon Kohden Corporation (Japan) • Nonnin Medical (US) • Smiths Medical (US) • Mindray (US) • Contec Medical Systems Co., Ltd. (China) • Shenzhen Creative Industry Co.Ltd. (China) • iHealth Labs Inc. (US) • Beurer GmbH (Germany)
Increased prevalence of cardiovascular and respiratory disorders due to a growing senior population and Advancement in R&D are the factors driving the Smart Pulse Oximeters market.
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