Global Wearable Pulse Oximeters Market: Overview
The need for managing oxygen levels in the human body has played a key role in driving demand within the global wearable pulse oximeters market. Presence of a seamless industry for management of chronic diseases has given a thrust to market growth. Moreover, rising incidence of pulmonary and cardiovascular diseases become a matter of concern for the medical fraternity. Use of wearable pulse oximeters has become an important consideration for patients with recurring problem of oxygen saturation. Patients suffering chronic obstructive pulmonary diseases (COPD) need to measure the level SpO2 in the body. Therefore, use of wearable pulse oximeters is an indispensable feat for such patients.
A report on the global wearable pulse oximeters market by Transparency Market Research (TMR) highlights the leading factors responsible for market growth. The global wearable pulse oximeters market can be segmented on the basis of application, patient age group, and region. Advancements in healthcare manufacturing play a defining role in the growth of the global wearable pulse oximeters market. Furthermore, the growth graph of the market largely relies on advancements in observational studies. The North America market is set to become the largest consumer of medical measurement devices.
Global Wearable Pulse Oximeters Market: Notable Developments
Presence of an earnest and forward-looking healthcare industry has generated fresh revenues within the global wearable pulse oximeters market.
- In 2017, FDA approved wrist-worn pulse oximeters manufactured by Israel-based Oxitone Medical, Ashkelon. The device, named ‘Oxitone-1000’, does not require a finger clip, and has been designed with the most apt technology. Furthermore, the company provided key specifications of the product, and each of them performed well on the quality measurement index. The device can gauge SpO2 levels with the same efficiency as other traditional oximeters. However, the new device is much more agile and convenient to use than its predecessors.
- Several companies are focusing on developing user-friendly wearable pulse oximeters. The ability to equilibrate the perks of utility and performance shall be the watchword for success within the market. Several new players have entered the global wearable pulse oximeters market in recent times. The quest of these players to foster innovation in manufacturing shall aid market growth.
Global Wearable Pulse Oximeters Market: Growth Drivers
- Investments in Medical Research
Development of high-end oximeters has played a vital role in driving sales across the market. The resilience of oximeters is amongst the primary reasons responsible for their popularity across the globe. Moreover, seriousness of the medical industry in evaluating various types of wearable medical devices has also driven market demand. The rising incidence of chronic diseases has invited fresh investments into the domain of medical research and disease testing. Furthermore, there is no contention about swift adoption of proven medical technologies across the healthcare industry. Henceforth, the global wearable pulse oximeters market is expected to ride along a profitable pathway in the years to follow.
- Popularity of Wearable Devices and Technologies
Several fitbit bands and smart watches are equipped with oximeters in order to measure oxygen levels in the body during strenuous activities. The growing trend of cycling, hiking, and mountain climbing has necessitated the use of wearable pulse oximeters. Patients suffering from critical heart conditions needs to monitored at regular intervals. Therefore, wearable pulse oximeters are viable options for evaluating the progress and health of patients. It is expected the need to offer proximate care to patients would recalibrate doctors’ focus towards wearable technologies. The routines of patients play a decisive role in converting potential buyers to consumers of wearable pulse oximeters.
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