Newark, June 28, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1.5 billion in 2022 global smart pulse oximeter market will reach USD 2.44 billion in 2032. According to the American Lung Association, as many as 37 million Americans struggle with chronic lung conditions like COPD and asthma. According to the Centres for Disease Control, 30.3 million people worldwide have heart disease. Post-COVID infection problems afflict millions more people. Similar changes in community health, the environment, and lifestyle are being seen worldwide. Given the rising illness load, remote monitoring of a patient's heart health and oxygen saturation level has become a crucial tool for care management. As a result, the global market for smart pulse oximeters will experience favourable growth over the coming years due to the increase in chronic pulmonary diseases.
Get more insights from the 230-page market research report @ https://www.thebrainyinsights.com/enquiry/sample-request/13547
Key Insight of the Global Smart Pulse Oximeter Market
North America is expected to rise the fastest during the forecast period.
The growing senior population and the rising demand for home healthcare will drive the market for smart pulse oximeters. The incidence of respiratory disorders is rising, given the rising alcohol and cigarette use, which will fuel market expansion. The established healthcare and pharmaceutical industries will aid the market's expansion in the region. The availability and cost of smart pulse oximeters have increased due to the existence of major industry participants and retail pharmacy chains. The expanding fitness sector will also aid the expansion of the local market.
In 2022, the fingertip pulse oximeter segment dominated the market with the largest market share of 45% and market revenue of 0.67 billion.
The product type segment is divided into fingertip pulse oximeters, wrist-worn pulse oximeters, hand-held pulse oximeters, paediatric pulse oximeters, and others. In 2022, the fingertip pulse oximeter segment dominated the market with the largest market share of 45% and market revenue of 0.67 billion.
In 2022, the online segment dominated the market with the largest market share of 62% and market revenue of 0.93 billion.
The distribution channel segment is divided into online and offline. In 2022, the online segment dominated the market with the largest market share of 62% and market revenue of 0.93 billion.
In 2022, the hospitals and clinics segment dominated the market with a market share of 48% and revenue of 0.72 billion.
The end-user segment is divided into hospitals and clinics, ambulatory settings, at-home-care settings and others. In 2022, the hospitals and clinics segment dominated the market with a market share of 48% and revenue of 0.72 billion.
Custom Requirements can be requested for this report @ https://www.thebrainyinsights.com/enquiry/request-customization/13547
Advancement in market
GOQii introduced a smartwatch that measures body temperature and pulse oximetry to aid in the early detection and management of coronavirus. An individual can quickly detect changes in their vital signs and correlate them to a larger health with the smartwatch. The integrated pulse oximeter in the GOQii Smart Vital monitors the blood's oxygenation rate and provides real-time data on any changes. It can also keep track of body temperature. The watch can track heart rate, steps, calories, and sleep. The smartwatch can be linked to a centralized dashboard, allowing remote monitoring.
Market Dynamics
Driver: The rise in chronic respiratory and cardiovascular conditions.
Long-lasting covid symptoms are present in most covid-19 virus-infected people. They include pulmonary distress signs like exhaustion and shortness of breath and neurological symptoms like anxiety and sadness. The frequency of respiratory ailments has increased due to environmental changes, especially rising pollution levels. Cardio-pulmonary disorders are more common now because of the lifestyle changes brought on by rising alcohol and cigarette use. Another important contributing aspect is the growing elderly population. Patients with chronic respiratory ailments can easily and conveniently check their health with smart pulse oximeters. It allows people to recognize early indications of discomfort and request prompt medical attention. The ability to remotely monitor patient healthcare gives clinicians another benefit. The rising prevalence of chronic cardiac and respiratory diseases will fuel the expansion of the global market for smart pulse oximeters.
Restraints: The inaccuracy of smart pulse oximeters.
Before being marketed, the smart pulse oximeters must pass several tests and verification phases to demonstrate their accuracy and dependability. However, implementing weak regulations enables market participants to get around these checks and balances, flooding the market with items of poor quality whose outcomes are incorrect or untrustworthy. The user experiences panic and mental anguish due to these erroneous results. Additionally, it increases the number of hospital visits. Therefore, the market expansion will be hampered by the unreliability and inaccuracy of smart pulse oximeters.
Opportunities: The creation of smartwatches equipped with pulse oximeters.
The popularity of an active lifestyle is growing, which has raised the demand for fitness trackers like fit bits. Along with counting steps done, calories burned, and perfusion index, smartwatches also display heart rate. Smartwatches have grown in popularity over time because it can link to smartphones and provide daily analysis of users' physical activity. To meet the needs of the population's active lifestyle, market competitors are investing in the development of comparable products. Therefore, creating revolutionary technology with intelligent pulse oximeter features will present market players with attractive chances. Over the projection period, the development of new technologies to enhance governance, record keeping, infrastructure durability, and traffic management will all impact the growth of the worldwide smart cities market.
Challenges: The rising data privacy concerns.
Smart pulse oximeters have inbuilt features that can assess the user's daily heart and pulmonary health. This data is stored on cloud storage systems and analyzed according to user requirements. The data is not completely secure as smart applications integrating data storage, compilation and analysis may share these data with private market players, thereby jeopardizing users' personal health and privacy. Therefore, the rising data privacy concerns will challenge the market's growth.
Have a question? Speak to Research Analyst @ https://www.thebrainyinsights.com/enquiry/speak-to-analyst/13547
Some of the major players operating in the global smart pulse oximeter market are:
• Contec Medical Systems Co. Ltd
• Koninklijke Philips N.V
• Masimo Corporation
• Meditech Equipment Co. Ltd.
• Medtronic Plc.
• Nonin Medical Inc.
• Omron Corporation
• Promed Technology Co. Ltd.
• Smith Group Plc
• Tenko Medical Systems
Key Segments cover in the market:
By Product Type
• Fingertip Pulse Oximeter
• Wrist-Worn Pulse Oximeter
• Hand Held Pulse Oximeter
• Paediatric Pulse Oximeter
• Others
By Distribution Channel
• Online
• Offline
By End User
• Hospitals and Clinics
• Ambulatory Settings
• At-Home-Care Settings
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: www.thebrainyinsights.com
