On the basis of type, the pulse oximeter market is divided into table-top, hand-held, forehead, nose, fingertip, wrist-worn, ear-lobe, and palm/foot. Among all these, the largest share of the market was held by the division of fingertip pulse oximeter in 2018. The wrist-worn pulse oximeter is projected to grow at the fastest pace (10.6% CAGR) during the forecast period. These oximeters are more advanced when technology is considered and are highly preferred by the elder population in home-based care. Wrist-worn pulse oximeters are generally utilized for the patients suffering from breathing difficulties.
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The rising adoption of home-care pulse oximeter devices is a key trend in the pulse oximeter market. Due to the technological advancements in medical devices industry, the usage of sensor-based pulse oximeters is rising in homecare settings. This particularly caters to the needs of the geriatric population, which is why many players operating in the market are focusing on developing simple, home-based pulse oximeters, other than the conventional types. Various types of pulse oximeters, such as handheld, wrist-worn, and fingertip, are accepted among the geriatric population for monitoring their health regularly.
Hence, the increasing incidences of targeted diseases and rising number of medication error cases are contributing to the growth of the market.
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