LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global wearable pulse oximeters market to grow at a CAGR of close to 6% during the forecast period, according to their latest market research report.
The rise in technological advances is one of the major trends being witnessed in the global wearable pulse oximeters market 2018-2022. Technological advances such as store and forward memory and smart point technology allow the development of affordable next-generation fingertip and wrist-worn pulse oximeters.
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According to Technavio analysts, one of the key factors contributing to the growth of the global wearable pulse oximeters market is the increasing prevalence of chronic respiratory conditions:
Global wearable pulse oximeters market: Increasing prevalence of chronic respiratory conditions
Wearable pulse oximeters are helpful in monitoring oxygen saturation of a patient’s blood. Chronic diseases such as severe asthma need continuous monitoring in critically ill patients, which can be performed by using wearable pulse oximeters. Hence, an increase in the number of chronic respiratory conditions such as COPD and asthma aids in the growth of the global wearable pulse oximeters market.
According to a senior analyst at Technavio for research on orthopedics and medical devices, “The prevalence of chronic respiratory conditions such as COPD and asthma is increasing in both developed and developing countries, which is majorly due to the increased exposure to indoor and outdoor air pollution. Wearable pulse oximeters help in evaluating and assessing the severity of asthma by complementing peak flow meter data and further save time and doctor visits.”
Global wearable pulse oximeters market: Segmentation analysis
The global wearable pulse oximeters market research report provides market segmentation by product (fingertip and ring pulse oximeters and wrist-worn pulse oximeters), by end-user (hospitals and clinics, ASCs, dialysis centers, and others), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products - fingertip and ring pulse oximeters and wrist-worn pulse oximeters - the fingertip and ring pulse oximeters segment held the largest market share in 2017, contributing to 80% of the market. This application segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for close to 45% share, followed by EMEA and APAC respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period.
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Five Forces Analysis
- Regional comparison
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- Vendors covered
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- Market positioning of vendors
- Competitive scenario
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