Pulse Oximetry Market Size to grow by USD 1189.5 million between 2024-2028
According to a research report “ Pulse Oximetry Market” by Product (Bedside/desktop pulse oximeters, Handheld pulse oximeters, Fingertip pulse oximeters, Wrist-worn pulse oximeters) End-user (Hospitals and clinics, Alternative care settings) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 1189.5 million, at a CAGR of 8.09% during the forecast period. Pulse oximetry is an essential medical technology used in various clinical settings, including intubation, cardiac arrest, procedural sedation, and the management of respiratory disorders such as asthma, chronic obstructive pulmonary disease (COPD), acute respiratory distress syndrome (ARDS), sleep disorders, and shunts in cyanotic heart disease. The global prevalence of chronic respiratory conditions, including asthma, COPD, and obstructive sleep apnea (OSA), is on the rise, particularly in developing countries. According to recent estimates, asthma alone accounts for approximately 6-7 deaths per 1,000 individuals annually worldwide. In India, it is estimated that approximately 34 million people were living with asthma in 2022, representing a significant burden on public health. The increasing prevalence of these conditions underscores the growing importance of pulse oximetry in healthcare delivery, enabling timely and accurate diagnosis and monitoring of patients..
Browse market data tables, figures, and in-depth TOC on “Pulse Oximetry Market” by Product (Bedside/desktop pulse oximeters, Handheld pulse oximeters, Fingertip pulse oximeters, Wrist-worn pulse oximeters) End-user (Hospitals and clinics, Alternative care settings) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2028. Download Free Sample
By Product, the Bedside/desktop pulse oximeters segment is projected to dominate the market size in 2024
Handheld pulse oximeters represent a significant segment within the pulse oximetry market, accounting for a substantial share. These devices offer a user-friendly interface, enabling connection between the probe assembly and a control unit. Their applications span from occasional spot checks to prolonged monitoring of neonatal and adult patients in both hospital and home care settings. Handheld pulse oximeters boast larger displays, providing enhanced visibility, and offer features such as adjustable alarm limits, rechargeable battery or main power supply options, and data transfer via USB or IR. These advanced functionalities make handheld pulse oximeters indispensable tools for healthcare professionals and patients alike.
By End-user, Hospitals and clinics segment is expected to hold the largest market size for the year 2024
The pulse oximetry market is predominantly driven by hospitals and healthcare facilities, including clinics and nursing homes, which account for a significant market share. This is primarily due to the increasing prevalence of respiratory disorders, sleep disorders, and other chronic diseases among patients. Favorable reimbursement policies, the emphasis on early disease diagnosis and prevention, and guidelines advocating pulse oximetry usage for various indications further bolster market growth. Hospitals and clinics, with their large pool of skilled medical professionals and access to advanced medical equipment such as magnetic resonance imaging (MRI) and computed tomography (CT), are well-positioned to cater to the healthcare needs of patients effectively.
North America is forecasted to hold the largest market size by region in 2024
The Pulse Oximetry market represents a significant business opportunity due to the increasing demand for non-invasive medical devices. These devices, which measure oxygen saturation levels in the blood, are essential for monitoring patient health in various clinical settings. Key market drivers include the growing prevalence of chronic diseases, rising healthcare expenditures, and technological advancements. Market players must focus on innovation, regulatory compliance, and cost-effective solutions to capitalize on this promising market trend.
The Pulse Oximetry Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Pulse Oximetry Market has experienced significant growth in recent times, driven by the coronavirus pandemic and the increasing demand for remote monitoring solutions. Fingertip pulse oximeters and wrist pulse oximeters have become essential tools for both clinicians and home consumers, enabling proactive monitoring of Oxygen saturation levels, especially for those with respiratory disorders. Technological advancements have led to the development of wireless pulse oximeters, Bluetooth devices, and other patient monitoring devices, making it easier for home care and critical care settings. The market for pulse oximetry is expanding beyond traditional healthcare settings, with applications in pediatric care, neonatal care, surgery, childbirth, critical care, anesthesia, and geriatric population. Patient safety is a top priority, and pulse oximetry plays a crucial role in monitoring vital stats and reducing morbidity and mortality. In particular, the geriatric population benefits from the use of pulse oximetry, as it helps detect respiratory issues early and improve overall health outcomes. Overall, the pulse oximetry market is poised for continued growth as technological advancements and the need for remote monitoring solutions become increasingly important.
Market Research Overview
Title: Pulse Oximetry Market: Advancements and Applications in Pneumonia, Neonatal Care, and Remote Monitoring The Pulse Oximetry Market is witnessing significant growth due to its increasing application in various healthcare settings and populations. Pulse oximetry is a non-invasive method used to measure the oxygen saturation level in the blood. It is essential in the diagnosis and monitoring of respiratory disorders, including pneumonia, especially in hospitals, ambulatory surgical centers, and home care. Newborn screening and pediatric care, including neonates and infants, significantly benefit from pulse oximetry. Technological advancements have led to the development of various types of pulse oximeters, such as tabletop, handheld, fingertip, and wireless devices. These devices come with features like Bluetooth connectivity, alarm systems, smart meters, repositionability, and signal acquisition, making them suitable for various applications. Pulse oximetry is also gaining popularity among mountaineers, athletes, pilots, and the geriatric population for proactive monitoring of vital stats during physical activities or critical care situations. The coronavirus pandemic has further boosted the demand for remote monitoring and home care devices. The market's growth is also driven by the need for patient safety, morbidity and mortality reduction, and anesthesia and surgery applications. Silicon adhesive and wire monitoring devices are other significant components of the pulse oximetry market.
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