Wearable Pulse Oximeters Market Size to grow by USD 275.59 million between 2024-2028
The Wearable Pulse Oximeters Market is segmented by Product Type (Fingertip and ring pulse oximeters and Wrist-worn pulse oximeters), End-user (Hospitals and other healthcare facilities and Homecare), and Geography (North America, Europe, Asia, and Rest of World (ROW)). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 275.59 million, at a CAGR of 7.54% during the forecast period. There are several companies that are contributing to the market as per this report. Increasing online marketing strategies .
By Product Type, the Fingertip and ring pulse oximeters segment is projected to dominate the market size in 2024
Fingertip pulse oximeters represent a cost-effective solution for non-clinical users, featuring integrated controllers and fingertip probes with display capabilities. These devices primarily offer basic functionalities, such as measuring peripheral oxygen saturation (SpO2) levels. However, their utility in managing patients with respiratory or chronic conditions is limited due to insufficient clinical evidence supporting their effectiveness and the absence of regulatory approvals and standardized specifications. Wellue is a leading vendor in the wearable pulse oximeter market, offering an advanced solution with their smart fingertip pulse oximeter. This device accurately measures SpO2 levels, pulse rate, perfusion index, pulse bar, and waveform in both spot-check and continuous measuring modes.
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By End-user, Hospitals and other healthcare facilities segment is expected to hold the largest market size for the year 2024
In the global wearable pulse oximeters market, hospitals and healthcare facilities, including clinics and nursing homes, dominate the 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 regulatory guidelines advocating the use of wearable pulse oximeters for various indications contribute to this trend. Hospitals and healthcare facilities, with their large pool of skilled clinicians and medical professionals, advanced equipment such as magnetic resonance imaging (MRI) and computed tomography (CT), and the capacity to provide comprehensive patient care, are well-positioned to capitalize on this market trend.
Why is North America forecasted to hold the largest regional market size in 2024?
The North American region holds a significant market share in the global wearable pulse oximeters industry, with the United States and Canada being the primary contributors to the region's revenue growth. The region's robust healthcare infrastructure, high prevalence of respiratory disorders and chronic diseases, increasing number of surgeries, and presence of skilled medical professionals are key factors driving the market's expansion. Notable market players, including GE Healthcare Technologies Inc., Medtronic Plc, and Masimo Corp., generate a substantial portion of their revenues from North America. These companies' strong supply chain and distribution networks ensure the ready availability of advanced wearable pulse oximeter solutions in the region.
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Research Analysis Overview
The Wearable Pulse Oximeters market is witnessing significant growth due to the increasing adoption of connected devices and IoT technology in the healthcare industry. The Technology segment, which includes wearable and portable pulse oximeters, is expected to dominate the market. The Pediatric and Adult segments are the major end-users, with a high demand for accurate and reliable devices. Fingertip pulse oximeters and handheld pulse oximeters are the most common types, with reusable probes and disposable sensors. However, product recalls due to inaccurate readings caused by factors like nail varnish, bright ambient light, venous congestion, peripheral vascular diseases, vasoconstriction, anemia, methemoglobin, and carboxyhemoglobin, pose a challenge to the market. The regulatory framework, including the American Hospital Association, plays a crucial role in ensuring the safety and efficacy of these devices. Hospitalizations due to hypoxia, low-priced oximeters, and surgical procedures are significant drivers for the market. Obstructive sleep apnea, COPD, and other respiratory conditions also contribute to the demand for wearable pulse oximeters. The market is expected to continue its growth trajectory, offering opportunities for manufacturers and investors alike.
Market Research Overview
According to Technavio, the global wearable pulse oximeters market is a significant segment within the expansive healthcare equipment industry. This sector encompasses organizations involved in the research and development (R&D) of various product categories, such as capital equipment, instruments, implants, accessories, and consumables. These products are utilized for disease diagnosis, monitoring, and treatment. Technavio determines the size of the global healthcare equipment market by aggregating the revenue generated by manufacturers of diagnostic equipment and devices across diverse therapy areas. The healthcare equipment sector is segmented into Devices, which includes advanced, differentiated, and clinically tested data-driven devices, such as wearable pulse oximeters. - The Wearable Pulse Oximeters Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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