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. Pulse oximeters refer to small clip-like medical devices that are usually attached to the fingertip, earlobe, or toe for monitoring the oxygen level in the patient's blood. They utilize light beams to measure the oxygen saturation of the blood and detect the timing when the oxygen drops below the adequate level. Upon assessment, they also reflect pulse rate and oxygen saturation level in the display attached to the device. In recent years, pulse oximeters find extensive applications across the healthcare sector for monitoring pulse in critical care settings during emergencies, surgeries, and recovery.
Global Pulse Oximeter Market Trends:
In recent years, there have been rising incidences of chronic medical ailments, such as sleep apnea, asthma, hyperlipidemia, cardiac arrhythmia, and chronic obstructive pulmonary disease (COPD). As a result, the demand for pulse oximeters has escalated with the growing need for constant monitoring of pulse rates and oxygen saturation levels among patients suffering from such health conditions. Additionally, the recent coronavirus disease (COVID-19) outbreak has increased the product usage in COVID-19 management for monitoring respiratory parameters of patients. Along with this, the shifting preferences toward non-invasive medical devices among patients and healthcare professionals have accelerated the product adoption rate. Furthermore, the leading manufacturers are integrating pulse oximeters with artificial intelligence (AI) and advanced sensors and smartphones to maintain electronic health records. This, in confluence with the launch of portable and wearable product variants with innovative features, such as easy data transfer, extensive memory, alarm system, and Bluetooth connectivity, has propelled the market growth. Other factors, including the aging population, improving healthcare infrastructure, technological advancements, and ongoing research and development (R&D) activities, are also creating a favorable market outlook. Looking forward, the market value is expected to reach US$ 3.5 Billion by 2028, growing at a CAGR of 7% during 2023-2028.
- Based on the type, the market has been divided into fingertip, handheld, wrist-worn, and other pulse oximeters.
- On the basis of the sensor type, the market has been classified as reusable and disposable.
- The market has been segmented based on the end use into hospitals and clinics, ambulatory surgery centers, home healthcare, and others.
- Region-wise, the market has been segregated 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 market has also been analyzed, with some of the key players being CAS Medical Systems Inc. (Edward Lifesciences), Contec Medical Systems Co. Ltd., Koninklijke Philips NV, Masimo Corporation, Medtronic plc, Opto Circuits (India) Ltd., Nonin Medical Inc., Smiths Medical Group Limited (ICU Medical Inc.), Spacelabs Healthcare Limited (OSI Systems, Inc.), and Welch Allyn (Hill-Rom Holdings, Inc.).
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