Smart Pulse Oximeters Market to Garner $3.5 Bn, Globally, by 2031 at 7.7% CAGR: Allied Market Research
Increase in prevalence of cardiovascular diseases & respiratory diseases, surge in demand for minimal invasive surgeries, and development of new smart pulse oximeter by key market players in the future.
PORTLAND, Ore., June 8, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Smart Pulse Oximeters Market by Type (Fingertip Pulse Oximeter, Hand held Pulse Oximeter, Wrist worn Pulse Oximeter, Pediatric Pulse Oximeter), by End User (Hospitals and Clinics, Ambulatory Surgical Centers, Home Environment): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global smart pulse oximeters markets size accounted for $1.6 billion in 2021, and is expected to reach $3.5 billion by 2031, growing at a CAGR of 7.7% from 2022 to 2031.
Download Sample PDF at: https://www.alliedmarketresearch.com/request-sample/2052
Major determinants of the market growth
Increase in prevalence of cardiovascular diseases & respiratory diseases, surge in demand for minimal invasive surgeries, and development of new smart pulse oximeter by key market players have boosted the growth of the global smart pulse oximeters market. However, low awareness about these products in low and middle income countries hampers the market growth. On the contrary, development of pharmaceutical and medical device industries and increase in healthcare expenditure would open new opportunities in the future.
Covid-19 scenario:
- The Covid-19 pandemic had a positive impact on the market growth due to surge in demand for remote monitoring solutions for both in hospital and homecare settings.
- Increased use of smart pulse oximeter for patient monitoring is expected to help the market post-pandemic as well.
The fingertip pulse oximeter segment dominated the market growth
By type, the fingertip pulse oximeter segment held the largest share in 2020, accounting for more than two-fifths of the global smart pulse oximeters market, due to rise in adoption of fingertip oximeter devices during the pandemic. However, the wrist worn pulse oximeter segment is expected to manifest the highest CAGR of 10.2% during the forecast period, due to its highly accurate readings, long-time durability, and reduction in difficulties associated with overnight oximetry studies.
Specific Requirement on COVID-19? Ask to Our Industry Expert: https://www.alliedmarketresearch.com/purchase-enquiry/2052
The home environment segment to manifest the highest CAGR through 2030
By end user, the home environment segment is projected to register the highest CAGR of 8.7% during the forecast period, owing to rise in easy availability of affordable smart pulse oximeters. However, the hospitals and clinics segment held the largest share in 2020, contributing to more than two-thirds of the global smart pulse oximeters market, due to surge in number of surgeries and emergency room visits.
North America held the largest share
By region, the market across North America held the largest share in 2020, accounting for around two-fifths of the global smart pulse oximeters market, due to rise in product launches and increase in number of regulatory approvals. However, market across Asia-Pacific is expected to showcase the highest CAGR of 9.4% during the forecast period, owing to surge in incidence of respiratory diseases and increase in presence of advance healthcare infrastructure.
Major market players
- Contec Medical Systems Co. Ltd
- Masimo Corporation
- Meditech Equipment Co. Ltd.
- Medtronic Plc.
- Nonin Medical Inc.
- Omron Corporation
- Koninklijke Philips N.V
- Promed Technology Co. Ltd.
- Smith Group Plc.
- Tenko Medical Systems
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Request for 14 days free trial: https://www.alliedmarketresearch.com/avenue/trial/starter
"We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."
Trending Reports in Healthcare Industry (Book Now with 10% Discount):
Biomaterials Market - Global Opportunity Analysis and Industry Forecast, 2020–2030
Specialty Enzymes Market - Global Opportunity Analysis and Industry Forecast, 2020-2030
Biosimilars Market - Global Opportunity Analysis and Industry Forecast, 2020-2030
Cosmetic Surgery Market - Global Opportunity Analysis and Industry Forecast, 2020–2030
In Vitro Diagnostics (IVD) Market - Global Opportunity Analysis and Industry Forecast, 2020–2030
Thyroid Ablation Devices Market - Global Opportunity Analysis and Industry Forecast, 2020–2030
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/life-sciences
Follow Us on LinkedIn: https://www.linkedin.com/showcase/life-sciences-industry-research/
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
Share this article