Pulse oximeters & spirometers market comprises of the sales of pulse oximeters and spirometers, which are used as respiratory care devices and to check on general health in the healthcare industry. This market includes the sales of handheld, tabletop/fingertip pulse oximeters that are used for monitoring the oxygen saturation levels of the blood & pulse rate, as well as handheld, desktop and tabletop spirometers that are utilized to measure the air capacity of lungs.
Pulse oximeters and spirometers players are primarily engaged in the manufacturing & developing of these devices used to monitor the respiration-related parameters that help in the detection of respiratory disorders.
According to study, “Pulse Oximeters and Spirometers Global Market Report 2020-30: Covid 19 Implications and Growth” the key companies operating in the global pulse oximeters and spirometers market are Koninklijke Philips N.V., Masimo Corporation, Halma plc, Medtronic plc, Vyaire Medical, Omron Corporation, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Nonin Medical, Inc., Siemens Healthcare, SDI Diagnostics, Meditech group, Medke, Schiller AG, Fukuda Sangyo Co. Ltd, GE Healthcare, Fukuda Denshi Co, Ltd, Smiths Medical Inc, Spacelabs Healthcare Inc., Opto Circuits Limited, Carefusion Corporation, Edwards Lifesciences, NDD Medizintechnik AG, Mindray Medical International Limited, Medikro, Medical International Research, Honeywell, Airehealth, Sibelmed, Drägerwerk AG & Co. KGaA, Inofab Health, ResMed, Merck & Co, Invacare Corporation, Hamilton Medical. Key companies are gradually more focusing on developing smart & wireless oximeters and spirometers. Exploit of wireless technology in health monitoring devices is rising that enhances the ease of usage, connectivity and data-analysis. The integration of wireless technology allows transfer of data from device to a smart phone or wireless device through Bluetooth/cellular connection for data processing and then to show the results that can be used for further study and to check the health condition of individual.
Based on product type, pulse oximeters and spirometers market is segmented as pulse oximeters and spirometers. Based on type of devices, market is segmented as fingertrip, handheld and others. Based on application, market is segmented as treatment monitoring and diagnostics. Based on patient type, market is segmented as COPD, asthma, general & surgical practice and other respiratory devices. In addition, based on end-usee, market is segmented as clinical laboratories, hospitals and home care.
The pulse oximeters and spirometers market is driven by rapid growth in the elderly population, followed by growth in number of surgical procedures, increase in prevalence of respiratory diseases, rise in healthcare expenditure and growth in economy emerging market. However, lack of awareness and stringent regulatory approval processes for medical devices may impact the market. Moreover, smart & wireless pulse oximeters and spirometers is a key trend for market.
Going forward Covid-19 pandemic rise in healthcare expenditure, increase in demand for consistent vital stats monitoring, growth in technological advances, increase in geriatric population, growth in adoption of pulse oximeters in critical care & child care, and easy to use pulse oximeters are anticipated to drive the market. It is projected that global pulse oximeters and spirometers market will be reached at approximately US $3, 39.0 million, by 2023, at a CAGR of 10.9%.
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Global Pulse Oximeters and Spirometers Market
Ankur Gupta, Head Marketing & Communications