The Pulse Oximeter Market is Expected to be Flourished by Rising Incidences of Chronic Respiratory Disorders

 
Pulse Oximeter Market

Pulse oximetry is a noninvasive method for monitoring a person's oxygen saturation level (SpO2) and pulse rate. Pulse oximeters are portable devices that pass light through skin and measure how much light is absorbed by arterial blood. They are commonly used in hospitals and clinics to monitor patients' oxygen saturation levels and pulse rates. Some key uses of pulse oximeters include screening for heart and respiratory conditions, monitoring the effects of anesthesia and oxygen therapy during surgery, and assessing patients with conditions like pneumonia or chronic obstructive pulmonary disorder (COPD).


The global Pulse Oximeter Market is estimated to be valued at US$ 3,683.27 million in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics
Rising incidences of chronic respiratory disorders leading to low blood oxygen levels is expected to be a key driver for the pulse oximeter market over the forecast period. According to the Global Burden of Disease Study, chronic respiratory diseases affected over 339 million people globally in 2017. Conditions like COPD, asthma, and pneumonia are becoming more common due to increasing pollution levels and aging population. This is increasing the demand for pulse oximeters to monitor patients' oxygen saturation levels.

The growing awareness and adoption of pulse oximetry for home healthcare is another driver. In recent years, portable wireless pulse oximeters have been developed that can be easily used at home to monitor patients remotely. This allows for early detection of any deterioration in blood oxygen levels, avoiding unnecessary hospital visits. The trend towards remote patient monitoring and home healthcare is expected to support the demand for pulse oximeters during the forecast period.


Segment Analysis

The pulse oximeter market is segmented on the basis of product, end-user, and region. Based on product, the market is divided into fingertip pulse oximeters, handheld pulse oximeters, wrist-worn pulse oximeters, and others. The fingertip pulse oximeters segment dominates the market due to its ease of use and accuracy to measure oxygen saturation levels.

PEST Analysis

Political: Government policies that promote healthcare infrastructure development and rising healthcare awareness positively impact market growth.

Economic: Rising disposable income levels in developing countries and growing prevalence of chronic diseases drive market expansion.

Social: Increasing uptake of home healthcare devices for patient monitoring and growing geriatric population facilitate market growth.

Technological: Advancements in non-invasive monitoring technologies and integration of oximeters with mobile apps augment market revenue.

Key Takeaways

The Global Pulse Oximeter Market Demand is expected to witness high growth over the forecast period. The global Pulse Oximeter Market is estimated to be valued at US$ 3,683.27 million in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030.

Regionally, North America dominates the market currently owing to established healthcare infrastructure and growing prevalence of respiratory diseases in the region. The Asia Pacific region is poised to grow at the fastest rate during the forecast period on account of rapidly improving healthcare infrastructure, growing medical tourism industry, and spreading medical awareness in developing countries such as India and China.

Key players operating in the pulse oximeter market are CAP Biomaterials, LLC, Kemapco Arab Fertilizers & Chemicals Industries LTD, Merck KGaA, AARTI INDUSTRIES LIMITED, Hindustan Phosphates Pvt. Ltd., Guizhou Zerophos Chemical Co., Ltd. Gujarat Narmada Valley Fertilizers & Chemicals Ltd, Bamni Proteins Limited, Innophos, Mitushi Biopharma, Phosphea, Ecophos Group, and Sudeep Pharma Pvt. Ltd.

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