The Business Research Company’s Pulse Oximeters And Spirometers Market Report – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, November 19, 2020 /EINPresswire.com/ — TBRC’s pulse oximeter market research report can be segmented by type of device into handheld, fingertip, others, by application into diagnostic, treatment monitoring, by end-use into hospitals, clinical laboratories, home care, and by patient type into asthma, COPD, other general and surgical practice, and other respiratory diseases.
Companies in the pulse oximeters and spirometers market are increasingly focusing on developing smart and wireless oximeters and spirometers. Use of wireless technology in health monitoring devices is increasing, which enhances the ease of usage, connectivity, and data analysis. The integration of wireless technology allows the transfer of data from the device to a smart phone or a wireless device through Bluetooth or cellular connection for data processing and then to display the results, which can be used for further study and to check the health condition of the individual. Wearable pulse oximeters are gaining more attention as well, as they can be used for the continuous monitoring of blood oxygen levels, especially during cases such as sleep apnea. In February 2020, Maxim unveiled a wrist-based solution that can monitor SpO2 levels, heart rate, and heart-rate variability (HRV) continuously, this contains FDA-grade SpO2 algorithms (ARMS of <3.5%), sensors, optical design hardware, software design files, and access to raw data its algorithms can cover cases involving very low perfusion (perfusion index as low as 0.05% vs. 0.1% for competition). In March 2020, Spry Health, a leader in health management technologies and remote patient monitoring, launched Loop Signal which is a wrist-worn wearable that tracks heart rate, pulse oximetry (SpO2), and respiratory rate and helps care systems in the close monitoring of patients’ vitals.
The global pulse oximeters and spirometers market reached a value of $2.60 billion in 2019, having grown at a compound annual growth rate (CAGR) of 7.5% since 2015, and is expected to grow at a CAGR of 10.9% to nearly $3.94 billion by 2023. The pulse oximeter market size is then expected to reach $4.56 billion by 2025, and $6.61 billion by 2030.
A rise in the number of respiratory diseases drives the demand for pulse oximeters and spirometers market. Spirometry is a recognized method of definitively diagnosing chronic obstructive pulmonary disease (COPD). Asthma and COPD are the most common chronic respiratory diseases globally. Number of patients with COPD rose due to several factors, including increase in the population aged over 65 years of age, air pollution and high smoking prevalence. Indoor air pollution increases the risk of COPD by 2.65% and smoking by 90%. This increased respiratory disease prevalence increases the demand for pulse oximeters and spirometers, driving the market.
Here Is A List Of Similar Reports By The Business Research Company:
Vital Parameter Monitoring Devices And Equipment Global Market Report 2020-30: COVID 19 Implications and Growth
Anesthesia And Respiratory Devices Market – By Type Of Product (Respiratory Devices And Equipment, Anesthesia Machines, Anesthesia Disposables And Respiratory Disposables) Drivers And Restraints, Opportunities And Strategies – Global Forecast To 2022
Oxygen Market – By Type (Medical Oxygen, Industrial Oxygen, Others), By End-User Sector (Mineral Processing, Automobiles, Healthcare, Cosmetics, Mining, Pharmaceuticals, Others), And By Region, Opportunities And Strategies – Global Forecast To 2030
Interested to know more about The Business Research Company?
The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.