Every year, an increasing number of people are suffering from diabetes, cancer, cardiovascular diseases, and chronic obstructive pulmonary disease (COPD). These chronic conditions as well as a lot many other diseases and disorders require medical intervention at some point in time. Therefore, with the increasing hospitalization rate and rising demand for healthcare, more and more medical centers are being constructed. This is, in turn, leading the growing procurement of various medical devices and instruments, such as the pulse oximeter.
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Such instruments are of several types, such as table-top, fingertip, wrist-worn, earlobe, hand-held, nose, palm/foot, and forehead. Among these, the popularity of wrist-worn variants is expected to increase the fastest in the near future, as they are more technologically advanced than others and are preferred by the elderly, at homecare settings. This is because these variants are non-invasive, safe, compact, and lightweight; additionally, they perform well on patients in all age groups, which is another reason for their rising sales.
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The sensor in these oximeters can be disposable or reusable, of which oximeters which have reusable sensors account for higher usage. This is attributed to the fact that they can be utilized for continuous as well as short-term O2 stats monitoring. In addition to these advantages, they boast a better and more stable grip in the body part they are affixed to, in comparison to the devices which have disposable sensors.
Geographically, North America witnesses the widest adoption of oximeters, owing to the presence of numerous companies which manufacture these instruments, high healthcare spending, and surging incidence of chronic diseases. In the coming years, the fastest growth in the pulse oximeter market is predicted in Asia-Pacific (APAC), as a result of the increasing geriatric population, which witnesses more frequent hospitalization than younger people. Additionally, the air pollution levels in the region are also high, which contribute in increasing the prevalence of respiratory issues.
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