Jun 13,2022 | Medical Devices
Pulse oximeter finds applications in detecting heart and respiratory disorders and congenital heart defects (CHD), thereby witnessing massive demand in healthcare facilities. Pulse oximeters provide cost-effective solutions and immediate test results to patients, which allow them to take steps to prevent any mishappenings. The rise in awareness among the patients regarding the benefits of adopting preventive healthcare measures is expected to accelerate the demand for pulse oximeter devices.
India pulse oximeter market was valued at US$79.44 million in 2022 and is expected to reach US$69.75 million in 2028 at a CAGR of 0.50% in the forecast period. Factors such as the increased prevalence of chronic respiratory diseases and advancements in pulse oximeter technology are primarily driving the demand for the India pulse oximeter market. Also, the surge in the geriatric population who are more prone to getting infected by diseases and favourable government initiatives and policies are expected to propel the India pulse oximeter market growth over the next 5 years.
The high-end investments by the market players in research and development activities and technological advancements are creating lucrative growth opportunities for the India pulse oximeter market in the forecast period. Integration of easy data transfer system, alarm system, bluetooth technology, and artificial intelligence to enhance the performance are garnering customer attraction. However, limitations under certain conditions and regulations on the use of pulse oximeters may hinder the growth of the India pulse oximeter market in the forecast period.
The India pulse oximeter market is segmented by type, patient type, end user, regional distribution, and competitive landscape. Based on end users, the market is divided into hospitals & clinics, homecare, and others. Hospitals & clinics dominated the market in 2022 and accounted for 44.82% of the overall market share. The high footfall of patients in hospitals & clinics and a rise in hospital admissions due to patients suffering from asthma and COPD are driving the demand for systems for continuous monitoring of patients.
The major market players operating in the India pulse oximeter market are India Medtronic Private Limited, Masimo Medical Technologies India Private Limited, Smith’s Medical India Private Limited, Wipro GE Healthcare Private Limited, Contec Medical Systems India Private Limited, BPL Medical Technologies Private Limited, Beurer India Private Limited, Hill-Rom India Private Limited, Opto Circuits India Ltd., and Philips India Limited.
From a wide range of healthcare market research reports, Bharatbook brings you the latest analysis on the aforementioned subject. The object of the study is to examine the historical growth in the market size, to identify dominant region or segment, as well as the drivers and challenges for the market, to examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India pulse oximeter market. Besides, the study is useful in providing answers to several critical questions that are important for the industry stakeholders such as pulse oximeter manufacturing companies, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
For more insights, we recommend to visit India Pulse Oximeter Market.