New York, May 16, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pulse Oximeters, Spirometers Global Market Report 2022" - https://www.reportlinker.com/p06277162/?utm_source=GNW
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The global pulse oximeters, spirometers market is expected to grow from $4.69 billion in 2021 to $4.84 billion in 2022 at a compound annual growth rate (CAGR) of 3.3%. The market is expected to grow to $5.28 billion in 2026 at a compound annual growth rate (CAGR) of 2.2%.
The pulse oximeters and spirometers market consist of sales of pulse oximeters, spirometers that are used as respiratory care devices in the healthcare industry.These are used to monitor the oxygen saturation levels of blood and pulse rate, measure the air capacity of the lungs.
The pulse oximeters and spirometer companies are primarily engaged in the manufacturing and developing of these devices used to monitor the respiration-related parameters that aid in the detection of respiratory disorders.
The main types of pulse oximeters and spirometers are pulse oximeters and spirometers.The pulse oximeters are medical devices that are used to monitor the oxygen saturation levels of blood and pulse rate.
The pulse oximeters and spirometers offer applications such as diagnostic and treatment monitoring that are used by various end-users such as hospitals, home care settings, clinical laboratories, and industrial settings.
North America was the largest region in the pulse oximeters and spirometers market in 2021.Asia Pacific was the second largest region in the pulse oximeters and spirometers market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Covid-19 infection is a respiratory illness and therefore there is an increased demand for respiratory devices including pulse oximeters and spirometers.Oxygen therapy is a major intervention for patients with severe Covid-19 infection, and the healthcare providers need to ensure the availability of pulse oximeters and other medical oxygen systems.
The market for these devices is expected to surge as they contribute to the early detection and remote monitoring of patients.
Increasing incidence of Chronic Obtrusive Pulmonary Disease (COPD) globally due to an increase in aged population over 65 years of age, air pollution, and high smoking prevalence are expected to contribute to the market growth of pulse oximeters and spirometers.There will be a five-fold increased risk for COPD among the population over 65 years than the population below 40 years.
Smoking and air pollution damage the lungs, which increases the risk for COPD. Indoor air pollution increases the risk of COPD by 2.65% and smoking by 90%. In 2019, globally there were 703 million persons aged 65 years or over and it is expected to double in the forthcoming decades. Around 19% of adults smoke tobacco globally and 91% of the population reside in areas where air quality levels exceed WHO limits. Therefore, the increased prevalence of COPD among the population will increase the demand for medical equipment like pulse oximeters and spirometers for diagnosis and therapy maintenance, thus driving the market during the period.
Lack of awareness among the global population about respiratory signs and symptoms has hindered the growth of the market.For instance, in 2019, in a study in Ethiopia, it was found that COPD which is a major respiratory disease is neglected by the population of low-income countries and its prevalence, signs, and symptoms are unknown among them.
Many patients with respiratory diseases like COPD are underdiagnosed leading to under-reporting of the disease. 17.8% of the studied population was diagnosed with COPD. Therefore lack of awareness has a negative impact on the pulse oximeters and spirometers market growth.
Companies in the pulse oximeters and spirometer market are increasingly focusing on developing smart and wireless oximeters and spirometers.The use of wireless technology in monitoring devices is trending nowadays, which enhances its ease of usage and data analysis.
The integration of wireless technology allows the transfer of data from the device to a smartphone or a wireless device through Bluetooth or cellular connection for data processing and then to display the results. In 2019, FDA approved the Loop system by Spry Health, Inc., B.O.L.T. by American Megatrends India Private Limited which are used to monitor vital parameters and respiratory parameters. In 2020, Masimo, an American manufacturer of noninvasive patient monitoring technologies, received the first FDA clearance for a fingertip pulse oximeter that can measure respiration rate. In addition, the device will also measure oxygen saturation, pulse rate, perfusion index, and Masimo’s Pleth Variability Index (PVi).
The countries included in pulse oximeters and spirometers are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06277162/?utm_source=GNW
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