Dublin, July 31, 2024 (GLOBE NEWSWIRE) -- The "Pulse Oximeters - Market Insights, Competitive Landscape, and Market Forecast - 2030" report has been added to ResearchAndMarkets.com's offering.
The Pulse Oximeters Market was valued at USD 2.16 billion in 2023, growing at a CAGR of 10.73% during the forecast period from 2024 to 2030, to reach USD 3.98 billion by 2030
The demand for Pulse Oximeters is primarily attributed to the rising prevalence of various respiratory disorders coupled with the growing geriatric population, technological advancement, and the availability of new products.
Pulse Oximeters Market Dynamics:
Rising prevalence of chronic respiratory disorders worldwide is likely to boost the global market for pulse oximeters. Chronic respiratory disorder such as asthma, chronic obstructive pulmonary disorders, emphysema, and others. For instance, as per the WHO's recent report, approximately 235 million people suffer from asthma and more than three million people die each year from COPD, worldwide. Therefore, the rising prevalence of such respiratory disorders require devices such as pulse oximeters that provide valuable insight regarding the oxygen saturation percentage and alerts for low oxygen level thereby raising their demand.
In addition, technological advancements in pulse oximeters such as alarm systems, extensive memory, easily transferable data, and installation of Bluetooth systems within the device modality are other factors likely to augment the global market for pulse oximeter devices. For instance, in December 2020, Shenzhen AOJ Medical Technology Co., Ltd received FDA clearance for its Pulse Oximeter (model: AOJ-70A, AOJ-70B, AOJ-70C, AOJ-70D, and AOJ-70E). These oximeters are equipped with a skin-friendly silicone finger pad, are compact, portable, and comprise the alarm function.
Certain factors such as regulations and accuracy concerns over OTC Pulse Oximeters pose a minor hurdle to the growth of the pulse oximeter market.
Pulse Oximeters Market Segment Analysis:
In the pulse oximeters product segment, the fingertip pulse oximeter is expected to hold the largest market during the forecast period from 2024 to 2030. This is because these devices are cost-effective and easily affordable. Moreover, better precision and practical ergonomics raise the demand for fingertip pulse oximeters for self-monitoring of saturated oxygen levels.
Further, the availability of newly developed fingertip pulse oximeters that are capable of measuring pulse rate, perfusion rate, and respiration rate along with the detection of oxygen levels is also anticipated to propel the market. The incorporation of telehealth technology with fingertip oximeters can also contribute to the pulse oximeter market growth.
North America is expected to dominate the overall Pulse Oximeters Market:
North America is expected to dominate the overall pulse oximeters market during the forecast period. This domination is due to the growing demand for respiratory monitoring devices owing to the rising prevalence of respiratory diseases, increased R&D funding, favorable reimbursement for these devices, and the presence of an advanced healthcare system.
Further, the United States represents the largest market worldwide supported by developed healthcare infrastructure and rising adoption of advanced non-invasive patient monitoring technologies. In addition, the presence of key market players such as Masimo, and Nonin Medical Inc, among others, along with the advanced product launches and commercialization agreements among them is also expected to boost the market.
Key Takeaways from the Pulse Oximeters Market Report Study
- Market size analysis for current market size (2023), and market forecast for 6 years (2024 to 2030)
- Top key product/services/technology developments, mergers, acquisitions, partnerships, joint ventures happened in the last 3 years
- Key companies dominating the Pulse Oximeters Market.
- Various opportunities are available for the other competitor in the Pulse Oximeters Market space.
- What are the top-performing segments in 2023? How these segments will perform in 2030.
- Which are the top-performing regions and countries in the current market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Pulse Oximeters market growth in the coming future?
Pulse Oximeters Market Key Players
- Medtronic
- Nonin.
- Lepu Medical Technology
- TytoCare Ltd.
- Meditech Equipment Co .,Ltd
- VYAIRE.
- OMRON Corporation
- Promed
- Smiths Medical
- NISSEI HOLDINGS INC.
- CONTEC MEDICAL SYSTEMS CO., LTD
- Shenzhen Aeon Technology Co., Ltd.
- Masimo
- SPENGLER HOLTEX Group
- Opto Circuits India Ltd.
Key Topics Covered:
1. Pulse Oximeters Market Report Introduction
1.1 Scope of the Study
1.2 Market Segmentation
1.3 Market Assumption
2. Pulse Oximeters Market Executive Summary
2.1 Market at a Glance
3. Competitive Landscape
4. Regulatory Analysis
4.1 The United States
4.2 Europe
4.3 Japan
4.4 China
5. Pulse Oximeters Market Key factors analysis
5.1 Pulse Oximeters Market Drivers
5.1.1 Rising Prevalence of Respiratory Diseases
5.1.2 Technological Advancements in Pulse Oximeter Devices
5.2 Pulse Oximeters Market Restraints and Challenges
5.2.1 Regulatory Concerns over OTC Pulse Oximeters
5.2.2 Limited Accuracy of pulse oximeters
5.3 Pulse Oximeters Market Opportunities
5.3.1 Rising Adoption of Telehealth
5.3.2 Growing Demand for Patient Monitoring in Non-Hospital Settings
6. Pulse Oximeters Porter's Five Forces Analysis
6.1 Bargaining Power of Suppliers
6.2 Bargaining Power of Consumers
6.3 Threat of New Entrants
6.4 Threat of Substitutes
6.5 Competitive Rivalry
7. Pulse Oximeters Market Layout
7.1 By Product Type
7.1.1 Fingertip Pulse Oximeters
7.1.2 Handheld Pulse Oximeters
7.1.3 Bench top Pulse Oximeters
7.1.4 Wearable Pulse Oximeters
7.2 By Age Group
7.2.1 Adults
7.2.2 Pediatrics
7.3 By End-User
7.3.1 Hospitals
7.3.2 Ambulatory Surgical Centers
7.3.3 Homecare Settings
7.3.4 Others
7.4 By Geography
8. Pulse Oximeters Company and Product Profiles
For more information about this report visit https://www.researchandmarkets.com/r/kfhz95
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