GLOBAL IOT PULSE OXIMETER MARKET (2024 - 2030)
As per our research report, the global IOT Pulse Oximeter market size is estimated to grow at a CAGR of 7.8% from 2024 to 2030.
Pulse oximeters are used to measure the blood oxygen saturation of a person. It is very useful for people with cardiovascular diseases or respiratory issues. Moreover, pulse oximeters are used to measure blood oxygen saturation levels in newborns and patients suffering from sleep apnea. The pulse oximeter device detects the person's heartbeat and SPO2 using IoT-based Wi-Fi technology. The oximeters are very helpful in regular monitoring of oxygen saturation levels. Pulse oximeters also assist doctors in monitoring a patient's health during and post-operation.
COVID-19 impacted the pulse oximeter market negatively in the initial phase because of lockdowns and supply chain disruptions. However, with an increase in demand for oxygen saturation monitoring because of the COVID-19 virus, the global pulse oximeter market size increased. The COVID-19 epidemic has led to a notable surge in the need for remote monitoring solutions in home care and hospital environments. During COVID-19, it was essential for vulnerable and infected individuals to have their arterial oxygenation levels monitored to detect hypoxia. The demand for pulse oximeters increased as a result of the growing use of these devices for patient monitoring, and this demand is predicted to continue growing during the projection period.
The market for IOT pulse oximeters is expected to increase as a result of the growing respiratory and cardiovascular diseases (especially after COVID-19). This is one of the major market drivers of IOT pulse oximeters. As people age, their risk of respiratory and cardiovascular issues increases. As the number of senior citizens increases, there will eventually be a greater need for smart oximeters. When it comes to home care, the public's awareness of chronic illnesses is raising the demand for smart medical devices. These factors are expected to drive the growth of the worldwide IOT pulse oximeter market throughout the forecast period.
The second factor that governs the growth of this market is the emerging technological advancements, portability, and increased product launches in the medical sector. Because of advancements in sensor technology, the accuracy of the smart pulse oximeter has substantially improved. Furthermore, because of enormous breakthroughs in IoT and AI technology, these small devices are now extremely sophisticated. In recent years, there has been a substantial increase in the demand for smart medical devices for health and well-being. As a result, the gadget's portability and rapid technical advancement provide huge growth opportunities for the IoT pulse oximeter market. Increasing product launches are expected to drive market growth throughout the forecast period.
The IOT pulse oximeter devices market expansion may be constrained by the possibility of inaccuracy in the measurements. Several smart pulse oximeters on the market are over-the-counter (OTC) items without FDA approval. These oximeters are offered directly to consumers as general wellness products or for use in sports, both in-person and online; they are not intended for medical use. These gadgets are often inaccurate, leading to misdiagnoses and self-treatment. As a result, the market for IOT pulse oximeters is growing more slowly due to the danger of inaccuracy.
According to a report by the International Diabetes Federation, approximately 537 million people will suffer from diabetes by 2021.
KEY MARKET INSIGHTS:
By End User:
Request Free Sample Copy Of GLOBAL IOT PULSE OXIMETER MARKET : https://virtuemarketresearch.com/report/iot-pulse-oximeter-market/request-sample
Every order comes with Analyst Support
We offer customization to cater your needs to fullest
We value Integrity, quality and authenticity the most