Smart Pulse Oximeters Market Trends, Size, Growth and Demand, 2013-2023

Smart pulse oximeters are non-invasive medical devices that are used to measure various health parameters such as pulse rate, heart rate and oxygen saturation level. These devices help in the early detection of various diseases such as sleep problems, respiratory diseases, and cardiac diseases. However, smart pulse oximeters readings may get affected by low blood pressure, cold fingers, nail polish, and artificial nails. The smart pulse oximeters market is expected to have a considerable growth during the forecast period. According to the World Health Organization (WHO), around 3 million people died of chronic obstructive pulmonary disease (COPD), in 2015. It further reported that COPD is likely to increase in coming years due to higher smoking prevalence and aging populations in many countries. Therefore, the increasing prevalence of the respiratory diseases is expected to drive the growth of the global smart pulse oximeters market.

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Based on product type, the smart pulse oximeter market is segmented into fingertip pulse oximeters, hand-held pulse oximeters, wrist-worn pulse oximeters, and pediatric pulse oximeters. Fingertip pulse oximeters held the largest share of the smart pulse oximeters market, in 2016, and is expected to maintain its position during the forecast period, mainly due to its light weight, ease of use, and rising prevalence of respiratory diseases. Moreover, WHO safety pulse oximetry project for the improvement in the health of the people in middle-income countries is also expected to further boost the growth of the smart pulse oximeters market.

Smart pulse oximeters market is expected to grow significantly during the forecast period. Some of the major factors driving growth of the global market are growing geriatric population, technological advancements, rise in prevalence of respiratory diseases, and growing demand for portable monitoring devices.

According to the United Nations Department of Economic and Social Affairs (UNDESA) report the number of people aged 60 years or over is projected to grow by 56%, globally, i.e. from 901 million in 2015 to 1.4 billion by 2030. Also, the global aging population is projected to reach nearly 2.1 billion, by 2050. Thus, with the rise in aging population, the use of smart pulse oximeters has been increasing for early detection of diseases.

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Some of the key players in the global Smart pulse oximeters market are Contec Medical Systems Co., Ltd., General Electric Company, Halma PLC, Koninklijke Philips N.V., Masimo Corporation, Medtronic PLC, Nonin Medical, Inc., Omron Corporation, Smiths Group PLC, and Technocare Medisystems.

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