A pulse oximeter is typically used for target diseases, which include measles, tuberculosis, tetanus, etc. Recently, hepatitis B and yellow fever have also been added to the list of the target diseases. The patients suffering from these diseases require constant monitoring. As per the World Health Organization (WHO), in 2019, around 1.4 million people died from tuberculosis with over 10 million people fell ill due to the same. Similarly, as per the Hepatitis B Foundation, around 30 million people get infected with hepatitis B annually worldwide, while 884,000 dies. Hence, such factors can stimulate growth of the pulse oximeter market in the near future.
A pulse oximeter is a medical device that measures a person's blood oxygen level. It works by applying a flow of electricity through hemoglobin to provide a reading of how much oxygen is in the bloodstream. Pulse oximeters can be used to determine the intensity of heartbeat activity, monitor pregnant women's fetal development, and prevent and treat many health problems including brain defects in infants. With the outbreak of COVID-19, monitoring the level of blood oxygen has become imperative. Pulse oximeters are playing a key role in increasing awareness and management of COVID-19. Such factors can augment growth of the pulse oximeter market in the near future.
Recently, in January 2021, Tyto Care launched its U.S. FDA-approved Fingertip Pulse Oximeter (SpO2) medical device.
Pulse oximeters are used in hospitals, homes, and medical settings. They are usually attached to the person's fingertip or to a pocket worn device such as a bracelet. Portable pulse oximeters are available for use in the home and can easily be placed inside your purse or pocket. Despite the pulse oximeter being widely used in recent times, there is still a lack of awareness about this device, especially in emerging economies. Even though this device can help in preventing the spread of coronavirus, low awareness among users can potentially hamper the growth of the pulse oximeter market.
On the contrary, developed countries in North America and Europe have exhibited high growth in the pulse oximeters in the recent past. This is typically due to the fact that there is a high prevalence of respiratory disorders and consumers are aware of cost-effective solutions. As per the Centers for Disease Control and Prevention (CDC), over 25 million people in the U.S. suffer from asthma annually. When it comes to emerging regions such as Asia Pacific, the launch of novel products has led to the high adoption of the pulse oximeter.
