Global Pulse Oximeters Market – Industry Trends and Forecast to 2030

Pulse Oximeters Market Analysis and Size

The smart pulse oximeters are the rising prevalence of cardiovascular diseases, the aging population, and the increasing demand for portable monitoring devices. The growing incidence of cardiovascular diseases with associated deaths are expected to fuel demand for small pulse oximeters, which will broaden the market under study and speed up its global expansion over the forecast period. Additionally, the market is expanding as a result of regulatory authority approval. For instance, Masimo obtained approval from the U.S. Food and Drug Administration in September 2020 for the Rad-G Pulse Oximeter. This rugged handheld device provides patients with clinically validated SET pulse oximetry, respiration rate, and other vital parameters.

Data Bridge Market Research analyses that the pulse oximeters market, valued at USD 2.8 billion in 2022, will reach USD 4.74 billion by 2030, growing at a CAGR of 6.8% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Pulse Oximeters Market Scope and Segmentation  

Market Definition

A pulse oximeter is a piece of medical gear that measures the amount of oxygen in a patient's blood. It is a tiny clip-like device that measures when and how much oxygen is being used up by being externally connected to a person's finger, toe, or earlobe. In hospital wards, it's frequently done to check someone's pulse during procedures, emergencies, treatments, and recovery. The device uses a cold light source to determine the amount of oxygen in red blood cells by sending light through the point of contact and measuring how much can pass to the other end.

Global Pulse Oximeters Market Dynamics

Drivers

• Increased demand through an increase in the prevalence of chronic diseases

The high rate of oximeter adoption and the rising prevalence of congenital heart disease (CHD) in children and the elderly are the two main factors driving the pulse oximeter market. Pulse oximeter demand will rise as a result of an increase in surgeries, hospital stays, and respiratory illnesses, which will also speed up the market's expansion rate. Rising healthcare infrastructure spending and the spread of infectious diseases that affect the respiratory system will accelerate the growth of the pulse oximeter market.

• Technological progress permits market expansion

Technological advancement is the main factor that will accelerate market growth. For the upkeep of electronic medical records (EMR), introducing oximeters with artificial intelligence and variants compatible with Apple and Android operating systems will spur the market's growth. Technological advancements in oximeters are expected to drive the segment. Added features such as easy transfer of data, extensive memory, alarm system, and bluetooth increase the efficiency of products. Industry players introduce new products with additional features to sustain in the competitive market. For instance, in August 2015, Nonin Medical, Inc. launched a wireless fingertip oximeter operated via Bluetooth-NoninConnect Model 3230.

Opportunities

• Expansion of medical businesses in developing nations

Players in the pulse oximeter market for medical devices can anticipate significant growth opportunities from emerging economies. The governments of China and India have consistently increased their investments in value-based care systems and healthcare modernization. Additionally, medical equipment and generic pharmaceuticals manufacturing hubs are emerging in emerging nations. The production of medical devices has grown significantly recently, and current trends point to even greater potential.

• Government initiatives allow market expansion

Governments in various nations have put regulations and guidelines into place to monitor patients with chronic illnesses' oxygen levels continuously. Additionally, oximeters for anesthesia monitoring during surgical procedures have come under more attention in hospitals and clinics. Governments have worked together to emphasize the safety of patients during surgical methods, which has led to the alignment of pulse oximeters as a crucial piece of equipment in healthcare facilities. As a result, the pulse oximeter will profit from it, and the market will grow.

Restraints/Challenges

• High cost limits the market

The availability of alternative oximetry devices, regulations, and concerns about the dependability of over-the-counter pulse oximeters will all present difficulties for the pulse oximeter market. Furthermore, the lack of awareness of these devices in low- and middle-income nations and the pressure on new players brought on by technological advancements made by established market players will have an impact, thus the market will be further constrained as a result of the increase in product prices.

• Development of substitute smart devices constraints the market

Companies placing a greater emphasis on health technology are currently challenging the traditional market. Smartwatches with sensors to track blood spO2 levels are now available on the market, along with other features such as heart rate, pulse monitoring, and routine energy consumption. Therefore, the development of pulse oximeters in the future will be constrained by the availability of alternatives for oximetry.

This pulse oximeters market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the pulse oximeters market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In June 2022, the Garmin Vivosmart 5 fitness band was introduced in India. The new fitness tracker features blood oxygen level monitoring, step counting, calorie counting, stress tracking, heart rate monitoring, body battery energy monitoring, and women's health tracking.
• In 2022, The introduction of iPulseOx was announced by Smart Meter, a manufacturer, and supplier of patent monitoring devices. It is the first cellular-connected pulse oximeter to offer real-time patient monitoring for long-term conditions such as heart disease and chronic obstructive pulmonary disease (COPD). This product launch improved the company's standing by giving them a competitive technological edge over its rivals and growing its customer base.
• In 2021, The US Food and Drug Administration (FDA) had approved Tyto Care's fingertip pulse oximeter (SpO2) as a medical device for calculating heart rate and blood oxygen saturation levels. A cable connects the Tyto Care device and the Pulse Oximeter. Users can test their blood oxygen levels by placing their fingers in the SpO2 device for 15 seconds.
• In 2021, Oxy10, a pulse oximeter, was introduced by DetelPro. The users of this product can determine the results with an LD display. The company's pulse oximeter portfolio was expanded across numerous hospitals and healthcare facilities during the product launch, which increased revenue.

Global Pulse Oximeters Market Scope

The pulse oximeters market is segmented on the basis of product, type, technology, patient type, end- user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Equipment
• Sensor
• Reusable sensors
• Disposable sensors
• Reprocessed sensors

Type

• Wrist-Worn
• Portable Pulse oximeters
• Handheld Pulse oximeters
• Fingertip Pulse oximeters
• Wearable Pulse oximeters
• Bedside/ Table-Top
• Earlobe
• Forehead
• Palm/Foot
• Nose
• Others

Technology

• Conventional
• Connected

Patient Type

• Pediatric
• Neonatal
• Infant/ Children
• Adult

End- User

• Hospitals
• Diagnostic Centres
• Homecare
• Prescription home care
• OTC home use
• Ambulatory surgical centres
• Other

Global Pulse Oximeters Market Regional Analysis/Insights

The pulse oximeters market is analysed and market size insights and trends are provided by country, product, type, technology, patient type, end- user as referenced above.

The countries covered in the pulse oximeters market report are  U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the market and will continue to flourish its trend of dominance during the forecast period. The major factors attributable to the region’s dominance are presence of significant key players and rising demand for cutting-edge products.

Asia-Pacific will have the highest growth rate during the forecast period due to the region's growing concern for patient safety during anesthesia and surgery. Additionally, an increase in the incidence of respiratory diseases and the presence of advanced healthcare infrastructure in the booms the region's growth.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Pulse Oximeters Market Share Analysis

The pulse oximeters market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to pulse oximeters market.

Some of the major players operating in the pulse oximeters market are:

• Medtronic (Ireland)
• BD (U.S.)
• GE HealthCare (U.S.)
• Koninklijke Philips N.V (Netherland)
• Masimo (U.S.)
• Nonin (U.S.)
• ICU Medical, Inc (U.S.)
• Welch Allyn (U.S.)
• Spacelabs Healthcare (U.S.)
• EDAN Instruments, Inc. (China)
• Meditech Equipment Co.,Ltd (China)
• NIHON KOHDEN CORPORATION (Japan)
• VYAIRE (U.S.)
• Drägerwerk AG & Co. KGaA (Germany)
• korrida medical systems (India)
• Honeywell International Inc. (U.S.)
• Beurer GmbH (Germany)
• TENKO MEDICAL SYSTEM CORP (U.S.)
• Narang Medical Limited (India)
• Advin Health Care (India)

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