Increasing Chronic Obstructive Pulmonary Disease and rising Geriatric Population are driving the growth of India Pulse Oximeter Market in the forecast period, 2024-2028.
According to TechSci Research report, “India Pulse Oximeter Market – By Region, Forecast & Opportunities, 2018-2028”, the India Pulse Oximeter market stood at USD 79.44 million in 2022 and is anticipated to reach USD69.75 million by 2028. This can be attributed to the growing demand for pulse oximeters from hospitals & clinics.
Chronic respiratory disorders such as bronchitis and asthma are common among the elderly. The demand for pulse oximeters is predicted to rise substantially in the years due to an increase in the elderly population and air pollution, affecting the market. Another key trend attracting the pulse oximeter market is the rise in the number of crises because of the prevalence of chronic obstructive pulmonary disease, the scarcity of hospital beds, and the big gap in the doctor-to-patient ratio. As the number of such incidents rises, so does the demand for self-monitoring devices that are simple to use and small. However, the unreliability of pulse oximeter readings, particularly over the counter (OTC) pulse oximeters and high cost of oximeters that provide correct readings of oxygen saturation level, and the lack of awareness of the right product purchase are just a few of the factors that hinder the growth of the pulse oximeter market.
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The India pulse oximeter market is segmented into type, patient type, end-user, region, and by company. Based on product type, the market is bifurcated into fingertip pulse oximeter and handheld pulse oximeter. Fingertip Pulse Oximeter held the largest market share of around 82.25% in 2022. This can be attributed to their widespread use in the hospital and home care segment during the second wave of COVID-19 in the country. Additionally, the user's fingertip pulse oximeters are easy to handle and do not require any charging because of the usage of batteries; therefore are easily transportable and provide instant readings.
Based on the end user, the market is divided into hospitals & clinics, homecare, and others. The hospitals & clinics segment dominated the market in 2022 and is anticipated to maintain its dominance during the forecast period. The rise in demand for pulse oximeters in hospitals & clinics is due to the rising cases of medical emergencies requiring pre-monitoring the vitals before undergoing any surgery or operation and even monitoring post-operation. Further, the increasing number of geriatric patients in nursing homes is the primary factor driving the pulse oximeter market in healthcare facilities like hospitals, nursing homes, and clinics.
Based on regional analysis, South India accounted for the largest market share in the India pulse oximeter market due to the high incidence of COVID-19 cases and high literacy rate among people, making them opt for pulse oximeters for self-monitoring. Easy use of pulse oximeters is expected to play a significant role in accelerating the demand for pulse oximeters over the next five years.
The leading companies 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.
- Philips India Limited
India pulse oximeter market is a highly fragmented market with few established companies holding significant share in the industry followed by several domestic players. However, the market is highly dependent on imports, especially from China.
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“The sudden outbreak and spread of pandemic COVID-19 in India led to increased demand for pulse oximeters. During the second wave of the pandemic, several cases of black marketing were also observed in the case of COVID-19 care essential devices and equipment, especially pulse oximeters, oxygen concentrators, and ventilators. This has significantly led to an increase in the demand and awareness for the product within India. However, once the COVID-19 waves subside, the demand and sales of pulse oximeters are again expected to decrease and stagnate”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Pulse Oximeter Market By Type (Fingertip v/s Hand-Held), By Patient Type (Adult, Neonatal, Pediatric), By End User (Hospitals & Clinics, Homecare, Others) By Region, Competition, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of India pulse oximeter market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India pulse oximeter market.
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