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Pulse Oximeter Market: Research In-Depth Analysis, Applications, Forecast To 2033
Pulse Oximeter Market
The Business Research Company offers in-depth market insights through Pulse Oximeter Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The pulse oximeter market size has grown strongly in recent years. It will grow from $2.58 billion in 2023 to $2.71 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to increasing aging population, rise in respiratory diseases, hospital and healthcare infrastructure development, awareness and education, global pandemic impact.
The pulse oximeter market size is expected to see strong growth in the next few years. It will grow to $3.32 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to integration with wearable devices, global health crises preparedness, government healthcare initiatives, health and wellness monitoring, global health crises preparednes. Major trends in the forecast period include telehealth integration, technological advancements, home healthcare emphasis, smart features and connectivity, remote patient monitoring in chronic diseases.
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Market Segmentation:
The pulse oximeter market covered in this report is segmented -
1) By Product Type: Fingertip, Handheld, Wrist-worn, Table-Top And Bedside
2) By Technology: Conventional, Connected
3) By Age Group: Adult, Pediatric
4) By End-User: Hospitals And Clinics, Ambulatory Surgical Centers, Home Healthcare
Major Driver - Rising Prevalence Of Respiratory Diseases To Drive Market Growth
The surging prevalence of respiratory diseases is expected to propel the growth of the pulse oximeter market going forward. Respiratory diseases are disorders related to the airways and the lungs that affect human respiration. The surging prevalence of respiratory diseases is mainly driven by increasing air pollution, exposure to dust, the aging population, and smoking habits, where pulse oximeters can detect changes in oxygen saturation levels before symptoms become apparent. For instance, in February 2023, the American Lung Association, a US-based organization that promotes lung health and disease prevention, published a report stating that over 34 million Americans suffer from chronic lung diseases such as asthma, COPD, emphysema, and chronic bronchitis. Additionally, more than 25 million Americans have breathing difficulties due to asthma. Further, in November 2021, according to the data imparted in 'Patient Registry Annual Data Report 2021', published by the Cystic Fibrosis Foundation, a US-based non-profit foundation, associated with cystic fibrosis disease awareness in the United States, the number of cystic fibrosis patient increased to 32,100 in 2021 from 31,534 in 2020, with the increased newborn screening rate of 64.4% in 2021, compared with 60.9% in 2020. Therefore, the rise in the prevalence of respiratory diseases is driving the growth of the pulse oximeter market.
Competitive Landscape:
Major companies operating in the pulse oximeter market report are Medtronic Plc, GE Healthcare, Masimo Corporation, Nonin Medical Inc., Nihon Kohden Corporation, Koninklijke Philips NV, Philips Healthcare, Contec Medical Systems Co. Ltd., Omron Corporation, Carefusion Corp., CAS Medical Systems Inc., Opto Circuits India Ltd., Welch Allyn Inc., Spacelabs Healthcare, Meditech Equipment Co. Ltd., Vyaire Medical Inc., Beurer GmbH, Drägerwerk AG & Co. KGaA, ICU Medical Inc., Smiths Medical, Mindray Medical International Limited, Criticare Systems Inc., BPL Medical Technologies, ChoiceMMed America Co. Ltd., Beijing Choice Electronic Technology Co. Ltd., Creative Medical, Edan Instruments Inc., Heal Force Bio-Meditech Holdings Limited, Mediana Co. Ltd., Medlab Clinical Ltd.
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Top Trend - Product Innovations Transforming The Pulse Oximeters Market
Product innovation has emerged as a key trend gaining popularity in the pulse oximeter market. Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in March 2021, Nonin Medical Inc. a US-based provider of OEM solutions, launched single-use accessories for WristOx2® 3150 Pulse Oximeters. This product is unique as it provides a more convenient and safer alternative to traditional reusable pulse oximeter accessories and it offers enhanced patient comfort. WristOx2® 3150 Pulse Oximeters is a compact, lightweight, and wearable device used to measure oxygen saturation levels in the blood.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Pulse Oximeter Market Characteristics
3. Pulse Oximeter Market Trends And Strategies
4. Pulse Oximeter Market - Macro Economic Scenario
5. Pulse Oximeter Market Size And Growth
…..
27. Pulse Oximeter Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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