In modern medical practices, measurement of the peripheral oxygen saturation and the respiratory rate of a patient is considered crucial to protect the patient from vital diseases. Pulse oximeters are small, portable, and lightweight devices that can be painlessly attached to fingertips in order to monitor and analyze the amount of peripheral oxygen saturated in the body. Wearable pulse oximeters have become popular in the last few years as a personal purchase. They continuously monitor the pulse rate and blood oxygen saturation and provide doctors with an indication of the patient’s cardio-respiratory status. The device measures the distribution of oxygen in the body parts from the heart to the arms and the legs. Some of the wearable pulse oximeters measure the heart rate also. Wearable pulse oximeters are intended for spot-checking of the blood oxygen saturation level and pulse rate at home and in sports during activities such as running, mountain climbing, and high-altitude activities. Rising need for continuous monitoring of patients in critical conditions and cost-effectiveness of wearable devices are major factors expected to drive the market for wearable pulse oximeters during the forecast period. However, errors likely to occur in measurement of the pulse rate and oxygen level owing to uneven fat distribution in the body and the complex tissue structure of fingertips are expected to restrain the growth of the wearable pulse oximeters market during the forecast period.
The global wearable pulse oximeters market has been segmented based on product and end-user. Based on product, the market has been segmented into wrist oximeters, ring-type oximeters, fingertip oximeters, and others. The fingertip oximeters segment held the maximum market share in 2016, due to simple and convenient usage and cost-effectiveness of these pulse oximeters. On the other hand, the wrist oximeters segment is estimated to register the maximum CAGR from 2016 to 2024, which is attributable to the effectiveness of wrist pulse oximeters in analyzing the severity of the respiratory impairment. Introduction of technologically efficient and precise wireless pulse oximeters by key market players such as Koninklijke Philips N.V., and True Wearables is estimated to fuel the others segment between 2016 and 2024.
Based on end-user, the global wearable pulse oximeters market has been divided into hospitals, ambulatory surgical centers, clinics, and home care settings. The home care settings segment accounted for the maximum market share in 2016, which is attributable to rising awareness about chronic respiratory diseases among general population, and integration of wearable pulse oximeters with smartphones. The home care settings segment is estimated to remain dominant throughout the forecast period, due to rising adoption of wearable pulse oximeters as a standard diagnostic technique for analyzing the level of saturated oxygen in the body.
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Geographically, the global wearable pulse oximeters market has been classified into five regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the maximum market share in 2016, due to rising adoption of smartphones, their integration with wearable health care devices, and strategic presence of key manufacturers of vital sign monitoring devices in the region. The increasing environmental pollution in the U.S. and Canada is leading to increase in the number of patients suffering from respiratory diseases in these countries. This is considered to be a major factor responsible for the estimated dominance of North America in the global wearable pulse oximeters market from 2016 to 2024. On the other hand, the market in Asia Pacific is likely to register the maximum CAGR during the forecast period, owing to rising prevalence of respiratory diseases in developing countries of Asia, low cost of wearable pulse oximeters, and their rising adoption in outpatient clinics in the region
Prominent players operating in the global wearable pulse oximeters market are Nonin Medical Inc., CONTEC MEDICAL SYSTEMS CO., LTD., Oxitone Medical Ltd., Masimo Corporation, Ambisea Technology Corp., Medtronic, True Wearables, Koninklijke Philips N.V., and American Diagnostic Corporation. Integration of technologically advanced features of android and iOS smartphones with pulse oximeters is a major trend being adopted by key manufacturers in the global wearable pulse oximeters market.
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