New York, United States, August 11, 2021 (GLOBE NEWSWIRE) – Smart Pulse Oximeters Market Overview
According to a comprehensive research report from Market Research Future (MRFR), “Smart Pulse Oximeters Market Information by type, end user and region – Forecast to 2027“The market is expected to cross $ 1,849.0 million in revenue by 2027 while growing at a CAGR of 7.8%.
Pulse oximetry is a painless, non-invasive test that determines your oxygen saturation level, or the amount of oxygen in your blood. It can detect even small variations in the efficiency with which oxygen is transported to the far ends of the heart, such as the legs and arms. Pulse oximetry is a test that determines how well your heart is pumping oxygen throughout your body. It can be used to monitor the health of people with any disease that affects the oxygen levels in the blood, especially in the hospital. In cases of COVID, not every person who tests positive for COVID-19 will develop low levels of oxygen.
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Smart Pulse Oximeters Market Competitive landscape:
Prominent companies in the smart pulse oximeter market are
- Masimo Corporation (United States)
- Nonnin Medical (United States)
- Shenzhen Creative Industry Co., Ltd. (China)
- GE Healthcare (United States)
- Koninklijke Philips NV (Netherlands)
- Nihon Kohden Corporation (Japan)
- iHealth Labs Inc (United States)
- Smiths Medical (United States)
- Mindray Medical International Limited (China)
- Beurer GmbH (Germany)
- Contec Medical Systems Co., Ltd. (China)
With an older population, the risk of developing cardiovascular and respiratory problems increases dramatically. The increase in the elderly population will lead to an increased need for smart oximeters in the future. In addition, cardiovascular disease is the leading cause of death worldwide. It is estimated that the increase in hospitalization rate will promote the expansion of the smart pulse oximeters market during the forecast period.
Several smart pulse oximeters are available in the market as over-the-counter (OTC) products, which have not been reviewed by the FDA. These oximeters are not intended for medical use and are offered direct to consumers in stores or online as general wellness products or for athletic use.
Browse the in-depth (120 pages) Smart Pulse Oximeters market research report: https://www.marketresearchfuture.com/reports/smart-pulse-oximeters-market-10645
COVID 19 analysis
The increasing prevalence of COVID-19 is expected to impact the growth of the market throughout the projection period. At the onset of the pandemic, most medical device companies limited or halted their manufacturing and sourcing activities, causing significant losses and hampering the market for smart pulse oximeters. Smart pulse oximeters are in great demand. Several new companies have joined the market to bridge the gap between supply and demand and take advantage of the increase in demand, thereby gaining considerable market share. Recently, MFine, a digital health company, pioneered the challenge by developing an app that uses your fingertip, a smartphone camera, and a flash to monitor oxygen saturation levels (SpO2 ). The technology, named MFine “Pulse”, is currently in beta testing for Android users and will be for iOS in a few weeks. Despite the fact that clinical trials for the instrument are still ongoing, the tool looks promising, with an accuracy rate of 80%.
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In the product type segment, finger pulse oximeters are the most popular and widely used types of oximeters.
In the end-user segment, the hospital and clinic segment is expected to contain a large number of available facilities which is expected to drive the growth of the smart pulse oximeters market.
Smart Pulse Oximeters Market Regional perspectives
Due to its well-established healthcare system, high adoption rate of smart medical devices, and large number of medical device companies, the North American market accounted for the largest share in 2020. In addition, the increased prevalence Cardiovascular and respiratory disorders, as well as increasing patient awareness of smart pulse oximeters, are driving market expansion. The smart pulse oximeter market in Europe is driven by increasing R&D spending on medical devices and increasing R&D investment. Due to the rapid rise and improvement in healthcare infrastructure, growing demand for smart medical devices, and growing awareness of oximeters, the smart pulse oximeters market in Asia-Pacific is expected to witness the growth the fastest. For example, GOQii released a smart watch with a pulse oximeter and thermometer. The key to managing the virus count, according to GOQii, is the early discovery and containment of suspected cases, given the nature of the virus and its rapid transmission. With the wristwatch, a person can quickly detect changes in their vital signs and correlate them with a larger health problem. A major concern among COVID-19 patients is lower oxygen levels. GOQii Smart Vital’s built-in pulse oximeter monitors blood oxygen levels and provides real-time information. Body temperature, heart rate and blood pressure can all be monitored using this device.
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