The global smart pulse oximeters market is projected to reach $1.27 billion by 2022, growing at a CAGR of 7.2% from 2016 to 2022.
Increase in geriatric population across the globe, rapid technological advancement, rise in prevalence of various respiratory diseases, and surge in demand for portable monitoring devices are the major drivers of the global smart pulse oximeters market. However, lack of awareness regarding smart pulse oximeters hampers the market growth. On the contrary, rise in healthcare expenditure in developing economies and high demand for proactive monitoring are expected to create lucrative opportunities in the near future.
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Global smart pulse oximeters market is divided on the basis of product type and geography. Based on product type, the market is divided into fingertip pulse oximeters, hand-held pulse oximeters, wrist-worn pulse oximeters, and pediatric pulse oximeters. The fingertip pulse oximeters segment held the largest share and is expected to manifest the fastest CAGR 7.5% during the forecast period as these oximeters can be easily used and do not require trained professional for operating. Moreover, the segment is further divided into hospitals & clinics, ambulatory surgical centers (ASCs), and home environment. The ASCs segment is expected to register a CAGR of 8.6% during the study period.
On the basis of geography, the market is analyzed across various regions such as North America, Asia-Pacific, Europe, and LAMEA. The marker in North America held the lion’s share in 2015 and is expected to maintain its dominance throughout the period, owing to increase in respiratory disorders and rise in awareness regarding cost-effective pulse oximeter among patients. However, Russia is estimated to be the fastest growing country in the European smart pulse oximeters market with a CAGR of 9.2% during the forecast period.
Global smart pulse oximeters market report includes analysis of the major market players such as General Electric Company, Contec Medical Systems Co., Ltd., Koninklijke Philips N.V., Halma plc, Medtronic plc, Masimo Corporation, Omron Corporation, Nonin Medical, Inc., and Smiths Group plc.
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