Dublin, June 01, 2021 (GLOBE NEWSWIRE) -- The "Pulse Oximeters, Spirometers Global Market Report 2021: COVID-19 Implications and Growth to 2030" report has been added to ResearchAndMarkets.com's offering.
Major players in the pulse oximeters and spirometers market are Smiths Medical Inc., Koninklijke Philips N.V., Vyaire Medical, Schiller AG, General Electric Company, Masimo Corporation, Medtronic PLC, and Opto Circuits Limited.
The global pulse oximeters, spirometers market is expected to decline from $6.51 billion in 2020 to $5.68 billion in 2021 at a compound annual growth rate (CAGR) of -12.7%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020.
The market is expected to reach $4.56 billion in 2025 at a CAGR of -5.3%.
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.
Lack of awareness among the global population about the 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 under-diagnosed 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. Use of wireless technology in the 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 smart phone or a wireless device through Bluetooth or cellular connection for data processing and then to display the results.
Increasing incidence of Chronic Obtrusive Pulmonary Disease (COPD) globally due to increase in aged population over 65 years of age, air pollution and high smoking prevalence is expected to contribute to the market growth of pulse oximeters and spirometers. There will be a five-fold increased risk for COPD among 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% adults smoke tobacco globally and 91% of the population reside in the areas where air quality levels exceeds WHO limits.
Therefore, increased prevalence of COPD among the population will increase the demand for the medical equipment like pulse oximeters and spirometers for diagnosis and therapy maintenance, thus driving the market during the period.
Key Topics Covered:
1. Executive Summary
2. Pulse Oximeters and Spirometers Market Characteristics
3. Pulse Oximeters and Spirometers Market Trends And Strategies
4. Impact Of COVID-19 On Pulse Oximeters and Spirometers
5. Pulse Oximeters and Spirometers Market Size And Growth
5.1. Global Pulse Oximeters and Spirometers Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Pulse Oximeters and Spirometers Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Pulse Oximeters and Spirometers Market Segmentation
6.1. Global Pulse Oximeters and Spirometers Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.2. Global Pulse Oximeters and Spirometers Market, Segmentation By End Use, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Home Care Settings
6.3. Global Pulse Oximeters and Spirometers Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7. Pulse Oximeters and Spirometers Market Regional And Country Analysis
7.1. Global Pulse Oximeters and Spirometers Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Pulse Oximeters and Spirometers Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Smiths Medical Inc.
Koninklijke Philips N.V.
General Electric Company
Opto Circuits Limited
Fukuda Sangyo Co. Ltd
Hill-Rom Holdings, Inc.
MGC Diagnostics Corporation
Messe Dusseldorf GmbH
Omron Healthcare Inc.
Nonin Medical, Inc
Edwards Lifesciences Corporation
Dragerwerk AG & Co. KGaA
Spacelabs Healthcare Inc.
SDI Diagnostics Inc
nSpire Health, Inc
NDD Medical Technologies, Inc.
Contec Medical System Co. Ltd
B Smiths Group plc
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