The Smart pulse oximeters market is estimated to capture a majestic CAGR of 7.5% during the forecast period. The market is projected to reach a valuation of US$ 1.72 Bn in 2022 and is likely to be valued at US$ 3.54 Bn by 2032.
Attributes
Details
Market CAGR (2022 to 2032)
7.5%
Market Value (2022)
US$ 1.72 Billion
Market Value (2032)
US$ 3.54 Billion
The adoption of Smart pulse oximeters is rising in the healthcare sector to supply oxygen to the patient's body during the forecast period. The demand for Smart pulse oximeters devices is accelerating rapidly in hospitals and medical institutes due to growing respiratory and cardiovascular diseases.
In addition, the rising demand for surgical procedures and the innovation of Smart devices boost the Smart pulse oximeters market during the forecast period. The rising breathing disorders such as Asthma and the growing geriatric population are increasing the sales of Smart pulse oximeters in recent years.
The growing demand for portable monitoring device by diabetes patients are growing the adoption of Smart pulse oximeters. According to Chronic Obstructive Lung Disease Report, around 11.8% of men and 8.5% of females have been infected with chronic pulmonary disease in 2022.
Smart pulse oximeter manufacturers developed several devices that help to treat patients during the foreseen time. These devices include wrist-worn, fingertip, pediatric pulse, and handheld pulse oximeters. By type segment, fingertip pulse oximeters dominate the global market by registering a significant share during the forecast period. The rising demand for fingertip pulse oximeters in the healthcare sector is flourishing in the market size.
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Recent Developments
In Jun 2021, DetelPro launched its new product, the Oxy10 pulse oximeter- a built-in LED display. It can display pulse rates and oxygen saturation to attach with a fingertip.
WHO updates that growing cardiovascular illnesses such as rheumatic heart disease, coronary disease, and cerebrovascular disease are the leading causes of death globally.
The US dominates the global market by capturing the maximum share during the forecast period. There is a rising demand for Smart pulse oximeters by medical institutes to monitor patients' health during the forecast period. The rising R&D activities, improved infrastructure, and key healthcare manufacturers are driving the Smart pulse oximeters market share during the forecast period.
The presence of key players in the market is capturing maximum output by contributing their role in the market expansion during the forecast period. These market players are adopting several marketing strategies, such as partnerships, collaborations, and agreements, to boost the market size during the forecast period.
According to CDC, around 8 lakh of Americans suffer heart attacks annually. The growing approval of devices and regulatory authorities is surging the market growth during the forecast period.
Smart Pulse Oximeters Market: Key Players
Key players of smart pulse oximeter market are Nonin Medical Inc, Shenzhen Creative Industry Co.,Ltd, iHealth Labs Inc. Indiegogo, Inc., Technocare Medisystems, Contec Medical Systems Co.,Ltd., and Masimo
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Smart Pulse Oximeters Market Smart
pulse oximeter market has been segmented on the basis of product type, and end user
Smart Pulse Oximeter Market, by Product Type:
Finger Pulse Oximeter
Handheld Pulse Oximeter
Paediatric Pulse Oximeter
Wrist Pulse Oximeter
Smart Pulse Oximeter Market, by End User:
Hospital
Ambulatory surgical centres
Home Care Setting
Frequently Asked Questions
What is the Growth Outlook for Smart Pulse Oximeters Market?
The market is likely to register a CAGR of 7.5% through 2032.
What is the Current Valuation of the Market?
The market is currently valued at US$ 1.72 Bn in 2022.
How is the Future of the Market?
The market is likely to grow to a valuation of US$ 3.54 Bn by 2032.
Which is the Leading Region in the Market?
North America is likely to be a leading market during the forecast period.
