Global Pulse Oximeters Market

Pulse Oximeters Market Size, Share, Growth Analysis, By Product Type(Fingerprint pulse oximeters, hand-held pulse oximeters), By Technology(Conventional and connected), By Age group(Adult and pediatric), By End user(Hospitals, homecare) - Industry Forecast 2024-2031


Report ID: SQMIG35A2211 | Region: Global | Published Date: February, 2024
Pages: 231 | Tables: 113 | Figures: 77

Pulse Oximeters Market Insights

Pulse Oximeters Market size was valued at USD 1.6 billion in 2019 and is poised to grow from USD 1.72 billion in 2023 to USD 3.12 billion by 2031, growing at a CAGR of 7.7% in the forecast period (2024-2031).

The growth of the market is attributed to increasing prevalence of respiratory diseases, growing geriatric population, technological advancement in pulse oximeters, rising investments in healthcare infrastructure, and increasing governments initiatives. The increasing prevalence of target diseases such as asthma, hyperlipidemia, hypertension, diabetes, ischemic conditions, cardiac arrhythmia, sleep apnea, and COPD is expected to drive market growth during the forecast period. According to WHO, around 64 million patients currently suffer from COPD worldwide with approximately 90% of deaths due to COPD occurring in low-and middle-income countries.

Pandemic had positive impact on the market as this disease is associated with respiratory diseases that affect the lungs. Hence, there is a need of monitoring the oxygen level and pulse rate of the covid affected patients which increases the demand for patient monitoring devices in the hospital and homecare centres which ultimately drives global market growth.

Governments are taking initiatives to increase the use of pulse oximeters in every hospital and healthcare centre that have a positive impact on market growth. Further, technological advancements such as alarm systems, extensive memory, easily transferable data, and the rising use of Bluetooth devices significantly contribute to the market growth. In addition, the increasing technological advancements in spO2 and oxygen monitoring devices also have a positive impact on market growth.

Key players are focusing on expanding the production of pulse oximeters in order to meet the demand for respiratory devices. For instance, in Feb 2021, Masimo acquired LiDCO , a provider of non-invasive and minimally invasive hemodynamic technology that added enhanced measuring and patient monitoring capabilities.

US Pulse Oximeters Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 1.6 billion

Largest Segment

Conventional

Fastest Growth

Conventional

Growth Rate

7.7% CAGR

Global Pulse Oximeters Market ($ Bn)
Country Share for North America Region (%)
Global Pulse Oximeters Market By Technology ($ Bn)
Global Pulse Oximeters Market By Technology (%)

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Pulse Oximeters Market Segmental Analysis

Global pulse oximeters market is segmented into product type, technology, age group, and end user. Based on product type, the global market is segmented into, Fingertip pulse oximeters, hand-held pulse oximeters, table top/bedside pulse oximeters. Based on technology, the global market is segmented into conventional and connected. Based on age group, the global market is segmented into adult and pediatric. Based on end user, the global market is segmented into hospital, homecare, and ambulatory care centres. By region, the market is segmented into North America, Asia Pacific, Europe, Latin America, and MEA.

Pulse Oximeters Market Analysis by Product Type

The table top/bedside pulse oximeters are expected to held the largest revenue share during the forecast period due to an increase in hospital and other healthcare facility inpatient admissions for various chronic respiratory diseases. These oximeters provided benefits like continuous oxygen, spO2 pulse monitoring, accurate results, convenience, and usability, which increased patient survival. Market players are increasing their focus on research and development to develop innovative table top/bedside pulse oximeters.

The fingertip pulse oximeter segment is expected to grow at the highest CAGR rate during the forecast period. The growth of this segment is attributed to increasing adoption of these products during the pandemic. In addition, the increasing adoption of such medical devices for home monitoring of respiratory diseases such as asthma and COPD is expected to drive its demand in future.

Pulse Oximeters Market Analysis by Technology

The conventional segment is expected to dominate the global market during the forecast period. The growth of the segment is attributed to increasing adoption of wire monitoring devices due to continuous patient monitoring in hospitals and healthcare centres. These devices are used to monitor the oxygen saturation level in the blood during the surgeries. It offers several advantages such as less output time, accurate results, continuous monitoring that increase its demand in the market. Patients with COPD and COVID-19 respond best to conventional pulse oximeters. COPD is one of the major diseases that contribute significantly to morbidity and mortality in Latin America, according to a 2019 article from the National Center for Biotechnology Information. Around 19% of the population in Latin America had COPD, which is anticipated to significantly increase segment revenue.

Global Pulse Oximeters Market By Technology, 2023 (%)

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Pulse Oximeters Market Regional Insights

North America is expected to dominate the global market during the forecast period. The growth of this region is attributed to increasing adoption of wireless pulse oximeters, rising uses of oximeters in home healthcare, well-established infrastructure, growing prevalence of chronic diseases and heart patients, increasing healthcare expenditure. In addition, the surge in hospital admissions & ASCs and the presence of strong players in this region is also contributes significantly to the market growth.

Europe is expected to hold the second highest market share during the forecast period. The growth in this region is attributed to rising prevalence of CCHD in newborns and mandate to screen CCHD in newborns with oximetry in hospitals. In addition, the improvement in healthcare infrastructure resulting in increased number of hospitals in Europe is also boost the market

Asia Pacific is expected to grow at the highest CAGR during the forecast period. The growth of this region is attributed to increasing awareness regarding the diagnosis of chronic respiratory diseases, rising COVID-19 cases, and strong focus on increasing hospital infrastructure.

Global Pulse Oximeters Market By Region, 2024-2031
  • Largest
  • Fastest

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Pulse Oximeters Market Dynamics

Pulse Oximeters Market Driver

  • Increasing Use of Patients Monitoring Devices

The increasing prevalence of respiratory diseases is anticipated to grow the market during the forecast period. Additionally, the demand for patient monitoring devices during treatment and diagnosis in hospitals and homecare facilities is growing due to the rising COVID-19 cases worldwide. The equipment used for patient monitoring, such as pulse oximeters, is used to measure spO2 and the amount of oxygen in the blood.

Governments of various countries have implemented guidelines to continuously monitor the oxygen level of the patients suffering from chronic disorders. Further, hospitals and clinics have increased their focus on oximeters for anesthesia monitoring during the surgical procedures. Hence, the above factors increase the adoption of patient monitoring devices and help boost the market.

Pulse Oximeters Market Restraint

  • Regulations and Accuracy concerns for OTC Pulse Oximeters

OTC medical products are approved to be sold directly to consumers without prescription from medical relevant authorities. OTC pulse oximeters do not need FDA clearance and can be bought directly from any pharmacy without the prescription. Hence, there are concerns regarding safety and accuracy.

The COVID-19 pandemic increased the need for the efficient detection, monitoring, and treatment of patients to inhibit the spread of pandemic. Thus, US FDA released the advisory for patients and healthcare providers that although pulse oximetry is useful for measurement of blood oxygen levels, pulse oximeters have limitations and inaccuracy under certain circumstances that hamper the market growth.

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Pulse Oximeters Market Competitive Landscape

The global pulse oximeters market is fragmented due to presence of various global and regional manufacturers. Key players are adopted various strategies such as partnerships, new product launch & commercialization, vertical integration for business expansion. Further, these players are increased their investment in R&D to innovate new products which help them to strengthen their position in the global market.

Pulse Oximeters Market Top Player's Company Profiles

  • Masimo Corporation

  • Medtronic plc

  • Koninklijke Philips N.V.

  • Nonin Medical Inc.

  • Nihon Kohden Corporation

  • Welch Allyn Inc.

  • Mindray Medical International Limited

  • Spacelabs Healthcare Inc.

  • Becton, Dickinson and Company

  • CAS Medical Systems, Inc.

  • Criticare Systems, Inc.

  • Edwards Lifesciences Corporation

  • Opto Circuits Limited

  • Zensorium Pte Ltd.

  • Contec Medical Systems Co. Ltd.

  • ChoiceMMed America Co. Ltd.

  • DeVilbiss Healthcare LLC

  • Beurer GmbH.

Pulse Oximeters Market Recent Developments

  • In May 2022, Medtronic launched Nellcor Oxysoft spO2 sensor. The device is the first pulse oximetry sensor to employ a silicon adhesive created to safeguard delicate skin and enhance signal acquisition and repositionability. With the aid of this new sensor, clinicians can make quick decisions for their critically ill patients.
  • In March 2022, The introduction of iPulseOx was announced by Smart Meter, a manufacturer and supplier of patient monitoring devices. It is the first pulse oximeter with cellular connectivity to offer remote patient monitoring services for long-term conditions like COPD and heart diseases.s.

Pulse Oximeters Key Market Trends

  • Technological advancements in pulse oximeters such as transfer of data, extensive memory, alarm system, and Bluetooth connectivity are the upcoming trends in the pulse oximeters market. For example, EMAY Bluetooth Pulse Oximeter is a blood oxygen saturation and pulse rate monitor with Bluetooth capability. The EMAY app provided allows you to view and record the data wirelessly via Bluetooth, review your spO2 at any point in time, and generate professional reports to share easily.

Pulse Oximeters Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global pulse oximeters market analysis, the increasing prevalence of respiratory diseases, rising geriatric population, adoption of patients monitoring devices for the treatment of COVID-19, technological advancements in these are the factors that drive the market during the forecast period. Lack of accuracy and safety associated with several oximeters is hindered the market growth. Major players are focusing on their R&D to develop innovative products that help to strengthen their position in the global market. North America is expected to dominate the global market during the forecast period due to well-established infrastructure and the adoption of technologically advanced pulse oximeters.

Report Metric Details
Market size value in 2023 USD 1.6 billion
Market size value in 2031 USD 3.12 billion
Growth Rate 7.7%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product Type
    • Fingerprint pulse oximeters, hand-held pulse oximeters, table top/ bedside pulse oximeters
  • Technology
    • Conventional and connected
  • Age group
    • Adult and pediatric
  • End user
    • Hospitals, homecare, and ambulatory care centres
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Masimo Corporation

  • Medtronic plc

  • Koninklijke Philips N.V.

  • Nonin Medical Inc.

  • Nihon Kohden Corporation

  • Welch Allyn Inc.

  • Mindray Medical International Limited

  • Spacelabs Healthcare Inc.

  • Becton, Dickinson and Company

  • CAS Medical Systems, Inc.

  • Criticare Systems, Inc.

  • Edwards Lifesciences Corporation

  • Opto Circuits Limited

  • Zensorium Pte Ltd.

  • Contec Medical Systems Co. Ltd.

  • ChoiceMMed America Co. Ltd.

  • DeVilbiss Healthcare LLC

  • Beurer GmbH.

Customization scope

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Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Pulse Oximeters Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Pulse Oximeters Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Pulse Oximeters Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Pulse Oximeters Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Pulse Oximeters Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Pulse Oximeters Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

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FAQs

Pulse Oximeters Market size was valued at USD 1.6 billion in 2019 and is poised to grow from USD 1.72 billion in 2023 to USD 3.12 billion by 2031, growing at a CAGR of 7.7% in the forecast period (2024-2031).

The pulse oximeters market is fragmented due to presence of various and regional manufacturers. Key players are adopted various strategies such as partnerships, new product launch & commercialization, vertical integration for business expansion. Further, these players are increased their investment in R&D to innovate new products which help them to strengthen their position in the market. 'GE Healthcare', 'Smiths Medical', ' Masimo Corporation ', ' Medtronic plc ', ' Koninklijke Philips N.V. ', ' Nonin Medical Inc. ', ' Nihon Kohden Corporation ', ' Welch Allyn Inc. ', ' Mindray Medical International Limited ', ' Spacelabs Healthcare Inc. ', ' Becton, Dickinson and Company ', ' CAS Medical Systems, Inc. ', ' Criticare Systems, Inc. ', ' Edwards Lifesciences Corporation ', ' Opto Circuits Limited ', ' Zensorium Pte Ltd. ', ' Contec Medical Systems Co. Ltd. ', ' ChoiceMMed America Co. Ltd. ', ' DeVilbiss Healthcare LLC ', ' Beurer GmbH. '

Increasing Use of Patients Monitoring Devices

Technological advancements in pulse oximeters such as transfer of data, extensive memory, alarm system, and Bluetooth connectivity are the upcoming trends in the pulse oximeters market. For example, EMAY Bluetooth Pulse Oximeter is a blood oxygen saturation and pulse rate monitor with Bluetooth capability. The EMAY app provided allows you to view and record the data wirelessly via Bluetooth, review your spO2 at any point in time, and generate professional reports to share easily.

North America is expected to dominate the market during the forecast period. The growth of this region is attributed to increasing adoption of wireless pulse oximeters, rising uses of oximeters in home healthcare, well-established infrastructure, growing prevalence of chronic diseases and heart patients, increasing healthcare expenditure. In addition, the surge in hospital admissions & ASCs and the presence of strong players in this region is also contributes significantly to the market growth.

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Global Pulse Oximeters Market

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