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2022

Pulse Oximeters Market

Pulse Oximeters Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by End User : Global Opportunity Analysis and Industry Forecast, 2021-2031

LS : Medical Devices & Supplies

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Author's: Divyani Talekar| Madhuvanti Balkrishna Divekar | Roshan Deshmukh
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Pulse Oximeters Market Research, 2031

The global pulse oximeters market size was $2.1 billion in 2021, and is projected to reach $3.9 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031. Pulse oximeters are used to assess the oxygen level in patient’s body. The report includes revenue generated from the sales of the pulse oximeters devices. The different types of pulse oximeters include table-top/bedside, fingertip, handheld, wrist-worn, and pediatric pulse oximeters. A handheld oximeter is used in medical institutes and hospitals. It is more sophisticated compared to the traditional counterparts. The oxygen monitor or screen is not attached to the clip, instead a cable is used to attach the clip to the screen. Screen also displays other information related to diagnosis apart from oxygenated blood level. This device uses infrared rays to measure the reading.

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Growth of the global pulse oximeters market growth is majorly driven by rise in prevalence of cardiovascular diseases and respiratory diseases, increase in demand for minimal invasive surgeries and development of new pulse oximeter by large number of key players. According to the International Diabetes Federation, in 2021, approximately 537 million adults were living with diabetes. Total number of people living with diabetes is projected to rise to 643 million by 2045. Thus, rise in burden of diabetes increases the demand for portable monitoring devices, is anticipated to foster promising growth of the pulse oximeters market forecast.

Furthermore, rise in geriatric population leading to various types of diseases and increase in the number of breathing disorders are additional factors that fuel the growth of the pulse oximeter market. Furthermore, technological innovations in pulse oximeters is expected to open several pulse oximeters market opportunity. In June 2021, DetelPro introduced the Oxy10 pulse oximeter. It is a small device which is enough to attach onto fingertip and shows both oxygen saturation and pulse rate.  Thus, increase in number of product approvals is anticipated to provide lucrative opportunities for the expansion of the global pulse oximeter industry.

The pulse oximeters market is segmented into type, end user and region.  By type, the market is categorized into bedside, fingertip, handheld, wrist-worn, and pediatric pulse oximeters. On the basis of end user, the market is divided into hospitals and clinics, ambulatory surgical centers and home environment.

Segment Review

Depending on type, the fingertip pulse oximeter segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to rise in demand and adoption of fingertip oximeter devices during the COVID-19 pandemic for continuous patient monitoring is the major factor driving the growth of the segment. However, the wrist worn segment is expected to witness fastest growth during the forecast period, owing to rise high demand for accurate readings, long-time durability, and reduce the difficulties associated with overnight oximeter studies. Wrist-worn pulse oximeters allow patients to measure blood oxygen level and pulse rate without restricting their wrist movement.

Pulse Oximeters Market by Type

Depending on end user, the hospitals and clinics segment dominated the market in 2021, and this trend is expected to continue during the forecast period, owing to rise in number of surgeries and emergency room visits. However, the home environment segment is expected to witness considerable growth during the forecast period, owing to rise in geriatric population and increase in incidence of various chronic respiratory diseases that drive the adoption of oxygen level monitoring devices during diagnostic and treatment stages.

Pulse Oximeters Market by End User

Region wise, the pulse oximeters market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

North America pulse oximeters market garnered the major share in 2021, and is expected to continue to dominate during the forecast period, owing to increase in the product launches and the increase in number of regulatory approvals. However, Asia-Pacific is expected to register the highest CAGR of 8.0% from 2022 to 2031, owing to increase in incidence of respiratory diseases and presence of advance healthcare infrastructure in the Asia-Pacific driving the growth of the region.

Pulse Oximeters Market by Region

The key players that operate in the global pulse oximeter market include Contec Medical Systems Co. Ltd, Masimo Corporation, Meditech Equipment Co. Ltd., Medtronic Plc., Nonin Medical Inc., Omron Corporation, Koninklijke Philips N.V, Promed Technology Co.Ltd, Smith Group Plc, and Tenko Medical Systems.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pulse oximeters market analysis from 2021 to 2031 to identify the prevailing pulse oximeters market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the pulse oximeters market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global pulse oximeters market trends, key players, market segments, application areas, and market growth strategies.

Pulse Oximeters Market Report Highlights

Aspects Details
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By Type
  • Bedside Pulse Oximeter
  • Fingertip Pulse Oximeter
  • Hand held Pulse Oximeter
  • Wrist worn Pulse Oximeter
  • Pediatric Pulse Oximeter
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By End User
  • Hospitals and Clinics
  • Ambulatory Surgical Centers
  • Home Environment
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
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Key Market Players

Masimo Corporation, Nonin Medical Inc., Smith Group Plc, Medtronic Plc., Omron Corporation, Contec Medical Systems Co. Ltd, Koninklijke Philips N.V., Tenko Medical Systems, Promed Technology Co.Ltd, Meditech Equipment Co. Ltd.

Analyst Review

This section provides the opinions of top-level CXOs of companies operating in the global pulse oximeters market. Based on the interviews conducted, pulse oximeters market has witnessed rapid growth in the recent years, owing to factors such as rise in incidence of chronic respiratory diseases and increase in awareness about the development of pulse oximeters for personal use. The pulse oximeters market has piqued the interest of healthcare professionals, owing to perpetual technological advancement. In addition, these devices have helped physicians to determine the severity of diseases.

Furthermore, increase in geriatric population and rise in prevalence of respiratory ailments, such as COPD and sleep apnea, are expected to drive the pulse oximeters market. However, lack of awareness about these devices in developing economies is expected to hamper the market growth. Moreover, the adoption of pulse oximeter has increased in the recent years, towing to factors such as improved reimbursement scenario and high incidence of disorders, such as anemia, lung cancer, and pneumonia, which affect blood oxygen levels. According to the CXOs, these devices have high adoption rate in developed regions, owing to heavy expenditure by the government to improve healthcare and supportive reimbursement policies.

The market also gains interest of healthcare companies, owing to focus on preventive facilities provided to patients who are undergoing critical treatment, which are more complex than other health conditions. This leads to increase in utilization of pulse oximeters, driving the growth of the market.

North America is expected to witness highest growth, in terms of revenue, owing to rise in geriatric population, presence of key players, and advancements in healthcare investments. Asia-Pacific is expected to register fastest CAGR during the forecast period, owing to increase in number of diseases such as asthma, diabetes, hypertension, and cardiac arrhythmia. However, trade restrictions across highly Covid-19 impacted countries are expected to hamper the market growth.

Author Name(s) : Divyani Talekar| Madhuvanti Balkrishna Divekar | Roshan Deshmukh
Frequently Asked Questions?

The pulse oximeter market size was valued at $211.63 million in 2021 and is expected to reach $3,910.55 million by 203.

Monitoring blood oxygen level and heart rate is the leading application of Pulse Oximeters.

Technological advancement in pulse oximeters such as transfer of data, extensive memory, alarm system, and bluetooth connectivity are upcoming trends of Pulse Oximeters Market.

North America is the largest regional market for Pulse Oximeters.

The top companies to hold the market share in Pulse Oximeters Market are Contec Medical Systems Co. Ltd, Masimo Corporation, Meditech Equipment Co. Ltd., Medtronic Plc., Nonin Medical Inc., Omron Corporation, Koninklijke Philips N.V, Promed Technology Co.Ltd, Smith Group Plc, and Tenko Medical Systems.

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Pulse Oximeters Market

Global Opportunity Analysis and Industry Forecast, 2021-2031