Global IOT Pulse Oximeter Market Size To Grow At 7.8% CAGR From 2024 to 2030

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.

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KEY MARKET INSIGHTS: 

• Based on technology, Wi-Fi is the dominating segment in the global IOT pulse oximeter market. This can be attributed to its wide advantages including long-range and better connectivity. However, Bluetooth technology is expected to see the maximum growth in the forecast period. This is because of features such as easy and fast data transfers and widespread adaptation of Bluetooth technology in various technological domains.
• Based on end-user, Hospitals, and Clinics is the dominating segment in the global IOT pulse oximeter market. This is because most people prefer to get treated in a proper hospital or clinic setup where state-of-the-art medical facilities are available. The home care setting segment, on the other hand, is expected to grow significantly over the forecast period due to an increase in the number of elderly people and the prevalence of various chronic respiratory diseases, both of which encourage the use of oxygen level monitoring devices during the diagnostic and therapeutic phases.
• Based on region, North America is the largest segment in the global IOT pulse oximeter market. This is because of the region's sophisticated healthcare system, widespread usage of smart medical devices, and the presence of various medical device manufacturers. Furthermore, the market is being driven in North America by the rising prevalence of cardiovascular and respiratory diseases. On the other hand, the Asia-Pacific IoT Pulse oximeter market is expected to grow at the fastest rate because of the region's rapidly expanding and improving healthcare infrastructure, rising demand for smart medical devices, and increased awareness of oximeters.
• Companies playing a leading role in the global IOT pulse oximeter market profiled in this report are Masimo Corporation, GE Healthcare, Koninklijke Philips N.V., Nihon Kohden Corporation, Nonin Medical, Smiths Medical, Mindray Medical International Limited, Contec Medical Systems Co., Ltd., Shenzhen Creative Industry Co., Ltd., iHealth Labs Inc., Beurer GmbH.

MARKET SEGMENTATION:

By Technology:

• Wi-Fi
• Bluetooth
• Zigbee

 By End User:

• Hospitals & Clinics
• Ambulatory Surgical Centers
• Home Care Setting

By Region:

• North America 
• Europe
• Asia Pacific
• South America
• Middle East and Africa

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