Pulse Oximeter Market

Pulse Oximeter Market

Pulse Oximeter Market Forecasts to 2030 - Global Analysis By Product (Sensors, Equipment and Other Products), Type, Age Group, Technology, End User and By Geography

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Published: 2023 ID: SMRC23533

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Pulse Oximeter Market is accounted for $2.6 billion in 2023 and is expected to reach $5.5 billion by 2030 growing at a CAGR of 11.4% during the forecast period. A piece of medical equipment called a pulse oximeter examines the level of oxygen in a patient's blood. It is a tiny clip-like instrument that, when externally linked to a person's finger, toe, or earlobe, measures when and how much oxygen is being used up. People's pulses are regularly checked in hospital wards during procedures, crises, treatments, and recovery. The instrument sends light through the point of contact and measures how much can flow to the other end in order to calculate the amount of oxygen in red blood cells.

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.

Market Dynamics:


Expansion of medical device companies in emerging economies

Players in the pulse oximeter market for medical devices are likely experiencing tremendous development potential due to emerging economies. Governments in countries like China and India are consistently increasing their expenditures on value-based care and healthcare modernization. Additionally, manufacturing hubs for medical equipment and generic medications are emerging in emerging nations.


Emergence of alternative smart device technologies

Companies that are placing a greater emphasis on health technology are currently challenging the traditional market. Smartwatches with sensors that track SpO2 levels in the blood are now available on the market, along with other capabilities like heart rate and pulse rate monitoring and routine energy consumption. The development of the pulse oximeter market will therefore be hampered in the coming years by the availability of substitute oximetry devices.


Increasing incidence of respiratory diseases

Among the most common respiratory illnesses worldwide are pneumonia, asthma, and chronic obstructive pulmonary disease (COPD). The lungs' airways get clogged in conditions including COPD, asthma, and pneumonia, making it challenging to breathe in and out and finally resulting in low blood oxygen levels. Patients who experience hypoxia as a result of COPD, asthma, or pneumonia require oxygen therapy. The noninvasive test of pulse oximetry measures oxygen saturation in individuals who are critically unwell and have trouble inhaling. The amount detected and displayed on the pulse oximeter's screen corresponds to the oxygenation of red blood cells.


Regulations and accuracy concerns for OTC pulse oximeters

"OTC" medical items are those that have been approved by the appropriate medical authorities for direct sale to consumers without a prescription. OTC pulse oximeters do not require FDA approval and can be purchased without a prescription from any pharmacy. However, there are issues with the reliability and safety of over-the-counter pulse oximeters.

Covid-19 Impact:

During the analysis period, it is anticipated that COVID-19's impact will cause the market to grow by significant amounts. This is due to a drop in in-person visits to healthcare facilities and a considerable rise in the deployment of fingertip pulse oximeters, both of which are supported by favorable regulations. Low oxygen saturation levels in the patients were caused by the rise of severe COVID-19 cases, which increased the demand for ongoing care of critically ill patients. According to a study that appeared in the Hindustan Times in 2021, approximately 40% of COVID-19 patients hospitalized at AIIMS Jhajjar in India had oxygen saturation levels below 94% when they were admitted. The market size significantly increased as a result of COVID-19 patients' declining oxygen saturation levels and growing government support for using these products to continuously monitor oxygen levels.

The disposable sensor segment is expected to be the largest during the forecast period

the disposable sensor segment held the largest market share during the anticipated period, due to its potential for non-invasive monitoring and its lightweight nature for greater patient satisfaction. Furthermore, disposable sensors are outstanding and well-suited for long-term monitoring due to their great flexibility and the biocompatibility of the soft material used. Disposable sensor oximeters' improved capacity to stop HAIs and cross-contamination has further accelerated their use. Among the pioneers in the provision of disposable sensors is Honeywell International Inc.

The adult segment is expected to have the highest CAGR during the forecast period

Owing to the increased prevalence of chronic respiratory diseases, including COPD and asthma, in the adult population as well as the rising number of adult hospitalizations necessitating ongoing patient monitoring, the adult segment is predicted to experience profitable growth over the course of the projected period. Additionally, the large increase in the elderly population has increased demand for pulse oximeters because monitoring vital indicators like SpO2 is essential for the elderly population.

Region with largest share:

Due to an increase in new products and regulatory approvals, North America held the majority of the market share. Additionally, the region's growth is being fueled by the rising prevalence of respiratory disorders and the presence of cutting-edge healthcare infrastructure in the area. Moreover, the market in the region is expected to be driven by the rapid adoption of wireless pulse oximeters and the growing use of oximeters in home healthcare and also by presence of a technologically proficient healthcare system and an increase in hospital admissions because of the high disease burden.

Region with highest CAGR:

Owing to the high prevalence of chronic diseases there, the Asia-Pacific area is anticipated to develop at the highest rate. Furthermore, a large population, increased income levels, and increased patient awareness of cutting-edge pulse oximeters would all contribute to further market expansion. Additionally, factors promoting regional expansion include the high frequency of target diseases, advancements in healthcare infrastructure, and growing public knowledge of effective patient monitoring technologies.

Key players in the market

Some of the key players in Pulse Oximeter market include GE Healthcare , Drägerwerk AG & Co. KGaA, General Electric, ICU Medical, Inc., Koninklijke Philips N.V., Masimo, Medtronic, NIHON KOHDEN CORPORATION, Nonin and OSI Systems, Inc.

Key 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 December 2021, Telli Health announced the delivery of its first U.S. FDA certified and approved 4G cellular-connected SpO2 oximeter. This oximeter and its remote patient monitoring devices help track the COVID-19 patients during the pandemic.

Products Covered:
• Sensors
• Equipment
• Other Products

Types Covered:
• Bedside/ Tabletop Pulse Oximeters
• Portable Pulse Oximeters
• Other Types

Age Groups Covered:
• Pediatric
• Adult

Technologies Covered:
• Connected Devices
• Conventional Devices
• Other Technologies

End Users Covered:
• Ambulatory Care Settings
• Home Care Settings
• Hospitals
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Technology Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Pulse Oximeter Market, By Product
5.1 Introduction
5.2 Sensors
5.2.1 Disposable Sensors
5.2.2 Reusable Sensors
5.3 Equipment
5.4 Other Products

6 Global Pulse Oximeter Market, By Type
6.1 Introduction
6.2 Bedside/ Tabletop Pulse Oximeters
6.3 Portable Pulse Oximeters
6.3.1 Handheld Pulse Oximeter
6.3.2 Fingertip Pulse Oximeter
6.3.3 Wearable Pulse Oximeter
6.4 Other Types

7 Global Pulse Oximeter Market, By Age Group
7.1 Introduction
7.2 Pediatric
7.2.1 Infant/ Children
7.2.2 Neonatal
7.3 Adult

8 Global Pulse Oximeter Market, By Technology
8.1 Introduction
8.2 Connected Devices
8.3 Conventional Devices
8.4 Other Technologies

9 Global Pulse Oximeter Market, By End User
9.1 Introduction
9.2 Ambulatory Care Settings
9.3 Home Care Settings
9.3.1 OTC Home Use
9.3.2 Prescription Home Use
9.4 Hospitals
9.5 Other End Users

10 Global Pulse Oximeter Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa

11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies

12 Company Profiling
12.1 GE Healthcare
12.2 Drägerwerk AG & Co. KGaA
12.3 General Electric
12.4 ICU Medical, Inc.
12.5 Koninklijke Philips N.V.
12.6 Masimo
12.7 Medtronic
12.9 Nonin
12.10 OSI Systems, Inc.

List of Tables
1 Global Pulse Oximeter Market Outlook, By Region (2021-2030) ($MN)
2 Global Pulse Oximeter Market Outlook, By Product (2021-2030) ($MN)
3 Global Pulse Oximeter Market Outlook, By Sensors (2021-2030) ($MN)
4 Global Pulse Oximeter Market Outlook, By Disposable Sensors (2021-2030) ($MN)
5 Global Pulse Oximeter Market Outlook, By Reusable Sensors (2021-2030) ($MN)
6 Global Pulse Oximeter Market Outlook, By Equipment (2021-2030) ($MN)
7 Global Pulse Oximeter Market Outlook, By Other Products (2021-2030) ($MN)
8 Global Pulse Oximeter Market Outlook, By Type (2021-2030) ($MN)
9 Global Pulse Oximeter Market Outlook, By Bedside/ Tabletop Pulse Oximeters (2021-2030) ($MN)
10 Global Pulse Oximeter Market Outlook, By Portable Pulse Oximeters (2021-2030) ($MN)
11 Global Pulse Oximeter Market Outlook, By Handheld Pulse Oximeter (2021-2030) ($MN)
12 Global Pulse Oximeter Market Outlook, By Fingertip Pulse Oximeter (2021-2030) ($MN)
13 Global Pulse Oximeter Market Outlook, By Wearable Pulse Oximeter (2021-2030) ($MN)
14 Global Pulse Oximeter Market Outlook, By Other Types (2021-2030) ($MN)
15 Global Pulse Oximeter Market Outlook, By Age Group (2021-2030) ($MN)
16 Global Pulse Oximeter Market Outlook, By Pediatric (2021-2030) ($MN)
17 Global Pulse Oximeter Market Outlook, By Infant/ Children (2021-2030) ($MN)
18 Global Pulse Oximeter Market Outlook, By Neonatal (2021-2030) ($MN)
19 Global Pulse Oximeter Market Outlook, By Adult (2021-2030) ($MN)
20 Global Pulse Oximeter Market Outlook, By Technology (2021-2030) ($MN)
21 Global Pulse Oximeter Market Outlook, By Connected Devices (2021-2030) ($MN)
22 Global Pulse Oximeter Market Outlook, By Conventional Devices (2021-2030) ($MN)
23 Global Pulse Oximeter Market Outlook, By Other Technologies (2021-2030) ($MN)
24 Global Pulse Oximeter Market Outlook, By End User (2021-2030) ($MN)
25 Global Pulse Oximeter Market Outlook, By Ambulatory Care Settings (2021-2030) ($MN)
26 Global Pulse Oximeter Market Outlook, By Home Care Settings (2021-2030) ($MN)
27 Global Pulse Oximeter Market Outlook, By OTC Home Use (2021-2030) ($MN)
28 Global Pulse Oximeter Market Outlook, By Prescription Home Use (2021-2030) ($MN)
29 Global Pulse Oximeter Market Outlook, By Hospitals (2021-2030) ($MN)
30 Global Pulse Oximeter Market Outlook, By Other End Users (2021-2030) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at info@strategymrc.com

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