The latest report by IMARC Group, titled “Pulse Oximeters Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global pulse oximeters market size reached US$ 2.3 Billion in 2022. 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.
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 (M&A) and extensive research and development (R&D) activities among key players to develop pulse oximeters and enhance production capacities are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 3.5 Billion by 2028, exhibiting a CAGR of 7% during the forecast period (2023-2028).
- Based on the type, the market has been categorized into fingertip, handheld, wrist-worn, and other pulse oximeters.
- On the basis of the sensor type, the market has been bifurcated into reusable and disposable.
- Based on the end use, the market has been classified into hospitals and clinics, ambulatory surgery centers, home healthcare, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined in the report, with some of the key players being CAS Medical Systems Inc. (Edward Lifesciences), Contec Medical Systems Co. Ltd., Koninklijke Philips NV, Masimo, Medtronic Plc, Nonin Medical Inc., Opto Circuits (India) Ltd., Smiths Medical Group Limited (ICU Medical Inc.), Spacelabs Healthcare (OSI Systems) and Welch Allyn (Hill-Rom Holdings, Inc.).
|Base Year of the Analysis
||Type, Sensor Type, End-Use, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||CAS Medical Systems Inc. (Edward Lifesciences), Contec Medical Systems Co. Ltd., Koninklijke Philips NV, Masimo, Medtronic Plc, Nonin Medical Inc., Opto Circuits (India) Ltd., Smiths Medical Group Limited (ICU Medical Inc.), Spacelabs Healthcare (OSI Systems) and Welch Allyn (Hill-Rom Holdings, Inc.)
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