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Strategic Forecast for the Pulse Oximeters, Spirometers Industry: Market Outlook 2025-2034
Pulse Oximeters, Spirometers Market
Pulse Oximeters, Spirometers Market Size Growth Forecast: What to Expect by 2025?
The market for pulse oximeters and spirometers has seen significant growth in recent times. The market value is expected to increase from $4.12 billion in 2024 to $4.37 billion in 2025, reporting a compound annual growth rate (CAGR) of 6.0%. The historic growth of this sector is due to healthcare diagnostics, hospital and clinical usage, home healthcare, and technological progress.
How Will the Pulse Oximeters, Spirometers Market Size Evolve and Grow by 2029?
The market for pulse oximeters and spirometers is predicted to witness robust growth in the forthcoming years, with an expected size of $5.94 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 8.0%. This growth during the forecast period may be linked to numerous factors like telemedicine and remote monitoring, the management of chronic diseases, an aging population, and personalized medicine. The primary trends projected for this period encompass wearable pulse oximeters, integration with telehealth, data connectivity, patient-centric care, sophisticated spirometry features, and respiratory rehabilitation.
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What Drivers Are Propelling the Growth of Pulse Oximeters, Spirometers Market Forward?
The COVID-19 virus affects the respiratory system, resulting in a heightened need for respiratory equipment such as pulse oximeters and spirometers. Oxygen treatment is a crucial step for severe COVID-19 patients, and it's imperative for healthcare providers to ensure the supply of pulse oximeters and other medical oxygen systems. These tools are incredibly useful for tracking and managing COVID-19 as they can evaluate oxygen content and lung function. The World Health Organization, a Switzerland-based United Nations agency dedicated to global public health, reported 771,191,203 verified cases of COVID-19 in October 2023, with 6,961,014 deaths. The device market is expected to skyrocket due to their role in the early identification and distant monitoring of patients.
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What Are the Key Trends Driving Pulse Oximeters, Spirometers Market Growth?
There is a rising trend among corporations in the pulse oximeters and spirometer market to invest in the production of intelligent, wireless devices. This transition to wireless monitoring equipment is gaining popularity due to its ease of operation and enhanced data analysis capabilities. By integrating wireless technology, data gathered by the devices can be transmitted to smartphones or similar devices via Bluetooth or a cellular link. These devices then process the data and display the results. Indian pharmaceutical giant, Cipla Ltd., introduced Spirofy, a wireless, portable spirometer, to commemorate World COPD Day. Spirofy by Cipla guarantees accurate readings and prioritizes the safety of each patient through bacterial viral filters (BVF). This completely untethered device provides a dependable battery life, making it an excellent choice for outdoor sites, areas with limited power supply, and offers medical practitioners flexibility and convenience.
What Are the Key Segments in the Pulse Oximeters, Spirometers Market?
The pulse oximeters, spirometers market covered in this report is segmented -
1) By Product Type: Pulse Oximeters, Spirometers
3) By Application: Diagnostic, Treatment Monitoring
Subsegments:
1) By Pulse Oximeters: Fingertip Pulse Oximeters, Handheld Pulse Oximeters, Wrist-Worn Pulse Oximeters, Tabletop Pulse Oximeters, Pediatric Pulse Oximeters, Multiparameter Oximeters
2) By Spirometers: Desktop Spirometers, Portable Spirometers, Handheld Spirometers, Tabletop Spirometers
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Who Are the Key Players Shaping the Pulse Oximeters, Spirometers Market's Competitive Landscape?
Major companies operating in the pulse oximeters, spirometers market include Smiths Medical Inc., Koninklijke Philips N.V., Vyaire Medical Inc., Schiller AG, General Electric Company, Masimo Corporation, Medtronic plc, Opto Circuits (India) Ltd., Fukuda Denshi Co. Ltd., Hill-Rom Holdings Inc., MGC Diagnostics Corporation, Messe Düsseldorf GmbH, Omron Healthcare Inc., Nonin Medical Inc., Edwards Lifesciences Corporation, Drägerwerk AG & Co. KGaA, Spacelabs Healthcare Inc., Halma plc, SDI Diagnostics Inc., nSpire Health Inc., SIBELMED, Labtech Ltd., CareFusion Corporation, NDD Medical Technologies Inc., Vitalograph Ltd., COSMED srl, Philips Benelux, Contec Medical System Co. Ltd., Smiths Group plc, TytoCare Ltd.
What Geographic Markets Are Powering Growth in the Pulse Oximeters, Spirometers Market?
North America was the largest region in the pulse oximeters, spirometers market in 2024. Asia-Pacific was the second largest region in the pulse oximeters, spirometers market. The regions covered in the pulse oximeters, spirometers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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