The oximeter is a small & lightweight non-invasive device used for monitoring oxygen saturation levels among individuals. It sends two wavelengths of light through the human body to measure & display the pulse rate and the oxygen level.
According to the MarkNtel Advisors' research report, "India Oximeter Market Analysis, 2021," the market is likely to grow at more than 50% CAGR in the forecast period, i.e., 2021-26. This growth attributes to the mounting awareness regarding different applications of pulse oximeters and their increased usage during the COVID-19 pandemic.
Additionally, the surging prevalence of target diseases including hypertension, asthma, diabetes, cardiac arrhythmia, and sleep apnea is likely to boost the market growth. Further, the adoption of advanced technologies to enhance the product, burgeoning healthcare costs, and surging adoption of pulse oximeter devices at home are likely to fuel the market growth during the forecast period.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Key Companies Profiled||India Medtronic Private Limited, Opto Circuits India Ltd., Wipro GE Healthcare Pvt. Ltd., Philips Healthcare India, Masimo Medical Technologies India Pvt. Ltd, Smiths Medical India Pvt Ltd., Welch Allyn India, Spacelabs Healthcare (OSI Systems Pvt. Ltd.), Nihon Kohden India Pvt. Ltd, Contec Medical Systems India Pvt Ltd.|
|Unit Denominations||USD Million/Billion|
Impact of COVID-19
With the outbreak of Covid-19 infections rising in the country, the demand for essential life-saving devices and other essential medical supplies that could help in providing optimum care to the infected individual increased. Further, as the COVID-19 disease adversely affects the person's respiratory system and reduces their oxygen levels, it becomes crucial to keep an oximeter at home. Therefore, the demand for oximeter increased tremendously amidst the spread of the pandemic and shall continue to grow significantly in the forecast period.