How Does Rising Geriatric Population Lead to Surge in Pulse Oximeter Market?

567 min


2076
Advertisements

The pulse oximeter market is surging due to its rising home and clinical usage popularity. The governments’ worldwide initiatives to cater to pulse oximeters’ demand drive the market. It is used for anesthesia during surgery to provide standard care in the rising economies. The Ethiopian government collaborated with Masimo Foundation and Bill & Melinda Gates Foundation to provide medical oxygen and pulse oximeters in the country. Adult patients are expected to capture 65.4% of the market share by 2024 and dominate the market due to the rising elderly population.

The pulse oximeter is a small device, easy to slide on fingers or clip-on ear lobes to measure blood oxygen levels. The infrared light refraction is used to determine the level of oxygen binding with red blood cells. The device provides a nearly accurate reading of oxygen saturation in the body, also known as the SpO2.  Under the end-user segment, hospitals contribute significantly to the pulse oximeter market, amounting to 36.5% of the revenue.

The AI integration in the pulse oximeters is resulting in the rising demand for devices in the home and healthcare settings, increasing the pulse oximeter market. The pulse oximeters led by the mobile-based platforms and wearable devices to detect the oxygen saturation level in patients drive the market. The advancements made in the microprocessor technology with the improved emitting diodes and photoelectric sensors facilitate increased accuracy and reliability on readings of pulse oximeters.

The emergence of pulse oximeter in the healthcare industry is highly crucial as it determines the oxygenation status of patients. The device is extensively used in the various departments of the hospitals. The surge in the number of patients of different age groups admitted to the healthcare facilities such as hospitals and nursing homes is leading to rising demand for the devices, thus propelling the market. Patients with sickle-cell crises, apneic conditions, multisystem trauma and drowning incidents require a pulse oximeter to measure their oxygen levels.

Advertisements

Devices worn on the fingertips hold the largest share of the pulse oximeter market. Pulse oximeter worn on the wrists are expected to witness the fastest sales growth, ascribed to the advancements of technology and highly preferred by the elderly population. The reusable-sensor oximeters capture a larger market share, whereas disposable-sensor variants are used for short-term continuous monitoring and fast spot checks.

COVID-19 has led to an increased demand for pulse oximeters. It has facilitated people with mild symptoms undergone to home -isolation and get self-treatment to measure oxygen levels. People with pre-existing lung disease, obesity, heart disease and smoking habits are at high risk of low-oxygen levels. The demand for pulse oximeters has witnessed a tremendous rise during the second wave of COVID-19 in India due to extreme variant SARS-CoV-2 causing damage to the respiratory system.

North America captures the biggest pulse oximeter market share, with the U.S. being the consumer in the region. APAC is predicted to experience the fastest growth due to the rising geriatric population due to weaker immunity; the elderly population is at high risk of developing such health disorders or diseases requiring constant oxygen levels. China is expected to be the largest procurer of these essential medical devices in the coming years, attributed to the fast-growing respiratory disease prevalence, itself due to its deteriorating air quality.

Therefore, the demand for pulse oximeters is rising due to their small size and easy-to-use features, including the elderly population more prone to respiratory diseases.

Advertisements

Like it? Share with your friends!

2076
Pramodk

Choose A Format
Story
Formatted Text with Embeds and Visuals