NEW YORK, June 30, 2023 /PRNewswire/ — The Wearable Pulse Oximeters Market report has been added to Technavio’s offering. The wearable pulse oximeters market size is estimated to grow by USD 244.66 million from 2022 to 2027, growing at a CAGR of 7.3%. North America will contribute 43% to the growth of the global market during the forecast period. Owing to readmissions of patients for the treatment of chronic health conditions, the US government pays extra to patients as part of reimbursements. This increases its cost burden in healthcare. Thus, for respiratory and other chronic conditions, the government has started to charge penalty from hospitals, which is calculated based on readmissions of patients for COPD. Hence, such government initiatives have compelled hospitals to opt for integrated and advanced respiratory monitoring devices, such as wearable pulse oximeters, which, in turn, boost regional market growth. For Comprehensive details on the market size of the historic period(2017 to 2021) and forecast period (2023-2027) – View Sample report
Wearable Pulse Oximeters Market – Vendor Landscape
The wearable pulse oximeters market is fragmented; the vendors are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning, technological advances, and the price of the products –The report provides a full list of key vendors, their strategies, and the latest developments. Buy Now
Wearable Pulse Oximeters Market – Market Dynamics
Major Drivers & Challenges-
The increased prevalence of chronic respiratory disease cases drives the growth of the wearable pulse oximeters market. These oximeters are used to monitor various indications of respiratory diseases such as asthma/chronic obstructive pulmonary disease (COPD), endotracheal intubation, cardiac arrest, procedural sedation, respiratory complaints, acute respiratory distress syndrome (ARDS), sleep disorders/sleep apnea, and shunts in cyanotic heart disease. The growing incidence of chronic respiratory disorders such as COPD, asthma, and obstructive sleep apnea (OSA) is growing at a significant rate in both developed and developing regions. Resultantly, this is driving the demand for wearable pulse oximeters to easily diagnose these diseases and take proper precautions and care accordingly. Hence, the increasing demand for wearable pulse oximeters to monitor respiratory health continuously will drive the wearable pulse oximeters market growth during the forecast period.
Limitations and complications associated with wearable pulse oximeters challenge the growth of the market. Wearable pulse oximeters have been associated with various complications and limitations as they have been found to provide inaccurate readings and measurements in different situations. For example, the presence of abnormal hemoglobin such as carboxyhemoglobin and methemoglobin; anemia; reduced peripheral circulation due to vasoconstriction or peripheral vascular diseases, venous congestion; bright ambient light; and the presence of nail varnish can affect the accuracy of the readings in wearable pulse oximeters. Various low-priced wearable pulse oximeters sold in the market have been demonstrated to have highly inaccurate saturation readings during hypoxia.
Key Trends–
Miniaturization of wearable pulse oximeters is an emerging market trend. The increasing development of miniature wearable medical devices for diagnostics, including portable pulse oximeters drives the market growth. Market vendors focus on developing products that are smaller, more reliable, and more energy efficient than previous generations without compromising efficiency. The miniaturization of wearable devices is transforming the Internet of Things (IoT) market, which is expected to show huge potential over the next ten years. Hence, such trends will propel the growth of the global wearable pulse oximeters market during the forecast period.
Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. – View Sample Report
Wearable Pulse Oximeters Market – Company Profiles
The wearable pulse oximeters market report includes information on the product launches, sustainability, and prospects of leading vendors including Alphabet Inc., American Diagnostic Corp., Apple Inc., Contec Medical Systems Co. Ltd., Garmin Ltd., GE Healthcare Technologies Inc., GOQii, Heal Force Biomeditech…
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