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Description
Global pulse oximeters market was valued US$ 1832 Mn in 2021 and poised to grow at CAGR of 6.6% over 2022-2028. The market for pulse oximeters projected to reach US$ 2643 Mn by 2028 owing to increasing prevalence of cardiovascular and respiratory diseases such as Ischemia, cardiac arrhythmias sleep apnea, and Chronic Obstructive Pulmonary Disease (COPD). The advances in pulse oximeters design and function such as user-friendliness and efficient performance expected to create demand for the pulse oximeters over the forecast period. Moreover, recent advances in the development of wireless pulse oximeters are expected to increases adoption of these devices in critical care settings where early medical intervention is necessary. For instance, in 2015, Nonin Medical, Inc. launched the NoninConnect Model 3230 Bluetooth Smart wireless finger pulse oximeters outside the U.S. The device helps clinicians and patients identify issues for early intervention, helping to avoid re-hospitalization. The rise in adoption of pulse oximeters as monitoring standard during anesthesia procedure in critical care set-ups, rising prevalence of cardiovascular and respiratory diseases which in turn promotes homecare usage are expected to drive market revenue growth over the forecast period. Moreover, ease of availability in stores, pharmacies and mandatory screenings for newborns in U.S for cardiac disease expected to create market demand for pulse oximeters over the forecast period. Players in the market are launching newer products in the market to garner larger market share and focusing merger and acquisition strategies to retain market positions. For instance, in 2015, Nonin Medical, Inc. launched the NoninConnect Model 3230 Bluetooth Smart wireless finger pulse oximeters outside the U.S.
