IMARC Group’s latest research report, titled “Pulse Oximeters Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the market. The pulse oximeters market research report also includes competitor and regional analysis, and contemporary advancements in the market. The global pulse oximeters market size reached US$ 2.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.5 Billion by 2028, exhibiting a growth rate (CAGR) of 7% during 2023-2028.
Pulse Oximeters Market Overview:
A pulse oximeter refers to a medical appliance used to monitor the oxygen saturation of the blood in the patient. Some commonly available oximeters include fingertip, handheld, wrist-worn, bedside or tabletop, and pediatric pulse oximeters. It is a small clip-like machine attached externally to the toe, earlobe, or finger of an individual to determine the timing when the oxygen drops below adequate levels. It is used during emergency treatment, surgical procedures, hospital wards, and to monitor lung medications. As a result, pulse oximeters are widely adopted in home healthcare, ambulatory surgery centers, clinics, and hospitals across the globe.
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Global Pulse Oximeters Market Trends:
The market is primarily driven by the rising prevalence of chronic ailments, such as hypertension, diabetes, cardiac arrhythmia, sleep apnea, and hyperlipidemia, across the globe. In addition, the growing geriatric population that is more susceptible to breathing disorders like asthma and chronic obstructive pulmonary disease (COPD) is accelerating the product adoption rate. Besides this, the sudden outbreak of the coronavirus disease (COVID-19) pandemic and the rising consciousness regarding the application of pulse oximeters are contributing to the market growth.
Moreover, various technological advancements, such as the improvements in microprocessor technology, photoelectric sensors, and light-emitting diodes (LEDs) for improved accuracy and reliability of pulse oximeters and the introduction of the Oxy10 pulse oximeter to display both pulse rate and oxygen saturation represent another major growth-inducing factor. Besides this, the incorporation of oximeters with artificial intelligence (AI) and the advent of variants compatible with Apple and Android operating systems for maintaining electronic medical records (EMR) are providing a positive thrust to the market growth. Along with this, governments of numerous countries are taking initiatives to promote the use of pulse oximeters in hospitals and healthcare facilities, which is propelling the market growth. Furthermore, mergers and acquisitions (MA) and extensive research and development (RD) activities among key players to develop pulse oximeters and enhance production capacities are also creating a favorable market outlook.
Pulse Oximeters Top Companies Worldwide:
- CAS Medical Systems Inc.
- Contec Medical Systems Co. Ltd.
- Koninklijke Philips NV
- Masimo
- Medtronic Plc
- Nonin Medical Inc.
- Opto Circuits
- Smiths Medical, Inc.
- Spacelabs Healthcare (OSI Systems),
- Welch Allyn (Hill-Rom)
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Key Market Segmentation:
Breakup by Type:
- Fingertip Pulse Oximeters
- Handheld Pulse Oximeters
- Wrist-worn Pulse Oximeters
- Others
Breakup by Sensor Type:
- Reusable
- Disposable
Breakup by End-Use:
- Hospitals and Clinics
- Ambulatory Surgery Centers
- Home Healthcare
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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