According to the latest report by IMARC Group, titled “Pulse Oximeter Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global pulse oximeters market size grew at a CAGR of around 6% during 2014-2019. A pulse oximeter is a small, lightweight medical device that is used to monitor the blood oxygen level of individuals. It is attached to the fingertip, toe, or earlobe of individuals to detect minor changes in their oxygen levels.
It utilizes specific wavelengths of light to assess the oxygen saturation, which is reflected in the display attached to the device.
The global pulse oximeter market is primarily driven by the growing incidences of chronic diseases. The emergence of serious health conditions like sleep apnea, asthma, cardiac arrhythmia, hyperlipidemia, and chronic pulmonary disease (COPD) and the recent spread of the coronavirus disease (COVID-19) have necessitated the constant monitoring of pulse rates and oxygen saturation levels of patients.
This has increased the demand for pulse oximeters across the globe. Moreover, the advent of efficient variants integrated with artificial intelligence (AI), smartphones, and advanced sensors and microprocessor technology is expected to positively impact the market growth in the upcoming years.