Wilmington, Delaware, United States,, Feb. 02, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global Wearable Pulse Oximeters Market is likely to register a CAGR of 7.0% between 2022 and 2031. Pulse oximeters are used for measuring the saturation level of oxygen present in the blood, and wearable pulse oximeters are the same device that can be worn on the body of the patient, such as on the earlobe or on the finger. Wearable pulse oximeters help monitor the oxygen saturation level of a patient at all times, as the device uses sensors attached to the skin and passes light through the blood vessels to measure the same.
Readings or recordings from wearable pulse oximeters are saved by the sensor, and the data is sent to a connected device such as a tablet or a smartphone. This allows the user to check the oxygen levels in real time. People with chronic respiratory disorders such as asthma or COPD and athletes use pulse oximeters and are considered the key revenue generators promoting the market growth.
According to the TMR report, the global wearable pulse oximeters market was valued at US$ 309.0 Mn in 2021 and is anticipated to reach more than US$ 594.5 Mn by the end of 2031. The increase in the prevalence of respiratory disorders is expected to increase the market size during the forecast period.
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Key Drivers
- A rise in the rate of respiratory disorder cases across the world is projected to aid in the market expansion of wearable pulse oximeters
- The increase in popularity of wrist pulse oximeters is anticipated to serve as a notable market trend
- The growing popularity of wearable medical devices is estimated to promote business in the near future
Key Findings of Study
- Rise in Prevalence of Respiratory Diseases: Prevailing rate of chronic diseases such as COPD, asthma, and other respiratory issues is a prime factor augmenting the market size of the wearable pulse oximeters industry. The use of these non-invasive devices can help prevent serious health complications such as stroke, heart failure, and even death; thus, these devices are gaining significant popularity. Most healthcare providers are engaging in offering innovative solutions to improve their product offerings in the respiratory tracking device section, and the success rate of wearable pulse oximeters is likely to help this market gain significant impetus during the forecast period.
- Growth in Geriatric Population: High rate of geriatric population across the world is another notable factor that is likely to contribute to the overall growth of the wearable pulse oximeters market during the forecast period. With age, people become more vulnerable to physical conditions such as heart diseases, diabetes, kidney issues, and respiratory disorders that eventually affect their blood circulation and oxygen levels.
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Regional Growth Dynamics
- North America held a 40% market share in 2021 and emerged dominant. This is due to the presence of major market players and a large patient pool for respiratory disorders.
- A rise in research and development activities for wearable medical devices and the success rate of pulse oximeters are projected to help North America continue dominating the market during the forecast period
- Asia Pacific is likely to register the fastest growth rate on account of the increase in population and rise in the prevalence of respiratory diseases
Key Players
Prominent players in the global wearable pulse oximeters market include
- Viatom Technology Co., Ltd.,
- Heal Force Bio-Meditech Holdings Limited,
- Konica Minolta, Inc.,
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.,
- Contec Medical Systems Co., Ltd.,
- GE Healthcare,
- Masimo Corporation
- Wellue, and Nonin Medical, Inc.
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Wearable Pulse Oximeters Market Segmentation:
Product-
- Wrist Pulse Oximeters
- Ring Pulse Oximeters
- Foot Pulse Oximeters
Age Group-
- Adult
- Pediatric
Distribution Channel-
- Retail
- E-commerce
- Direct Sales
Regions-
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Countries-
- U.S.
- Canada
- Germany
- U.K.
- France
- Italy
- Spain
- China
- India
- Japan
- Australia & New Zealand
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