Pulse Oximeter Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product Type (Fingertip, Handheld and Others), By Sensor Type (Reusable v/s Disposable), By Patient Type (Adult, Pediatric, Neonatal), By End User (Hospitals & Clinics, Homecare, Others), By Region and Competition
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationPulse Oximeter Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product Type (Fingertip, Handheld and Others), By Sensor Type (Reusable v/s Disposable), By Patient Type (Adult, Pediatric, Neonatal), By End User (Hospitals & Clinics, Homecare, Others), By Region and Competition
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 3452.23 Million |
| CAGR (2023-2028) | 5.24% |
| Fastest Growing Segment | Homecare |
| Largest Market | North America |
Market Overview
Key Market Drivers
Increasing Prevalence of Respiratory Diseases
Technological Advancements and Easy Accessibility
Increasing Portable and Handheld Pulse Oximeters in the Home Healthcare
Increasing Aging Population and Hospital Adoption of Oximeter
Key Market Challenges
High Price for Innovative Pulse Oximeter Devices
Low-Cost Pulse Oximeter Models Have Limited Accuracy and Reliability
Key Market Trends
Increasing Online Marketing Strategies by Market Vendors
Expansion of Medical Businesses in Developing Nations
Segmental Insights
Product Type Insights
The segment of handheld pulse oximeters held the largest market share in 2022 and is projected to experience significant growth during the forecast period. This can be attributed to the high prevalence of respiratory diseases, increasing hospitalizations, and the convenience of using handheld devices in emergency situations. Furthermore, technological advancements in terms of accuracy, safety, and data transfer capabilities are driving the adoption of this segment. To stay competitive, leading market players are introducing new products with enhanced features. For instance, in September 2020, Masimo announced the U.S. FDA clearance of the Rad-G handheld pulse oximeter.
On the other hand, the fingertip pulse oximeters segment is expected to exhibit the highest growth rate throughout the forecast period. This growth is driven by the increasing demand for continuous patient monitoring at home settings, growing patient awareness, and the rising trend of preventive healthcare.
Sensor Type
In 2022, the disposable sensor segment emerged as the primary revenue driver due to its non-invasive monitoring capabilities and lightweight nature, enhancing patient satisfaction. Additionally, disposable sensors exhibit remarkable flexibility and biocompatibility with soft materials, making them ideal for long-term monitoring. Furthermore, the utilization of disposable sensor oximeters has been further accelerated by their superior ability to prevent cross-contamination and healthcare-associated infections (HAIs). Noteworthy industry leaders offering disposable sensors include Honeywell International Inc. and NIHON KOHDEN CORPORATION, among others.
Moreover, reusable probes ranked as the second-highest revenue contributor in 2022. The robust demand for reusable probes in intensive care units, their compatibility with commonly used monitoring devices, distinctive product designs, and precise measurement results are expected to drive segment growth. Furthermore, the inherent ability of reusable probes to withstand mechanical stress and facilitate ease of cleaning has significantly contributed to their widespread adoption.
Regional Insights
Recent Developments
- In June 2022, theGarmin Vivosmart 5 fitness band was launched in India, featuring Women's healthtracking, Heart rate monitoring, body battery energy monitoring, step count,calorie count, stress tracking, and blood oxygen level monitoring.
- In March 2022, SmartMeter accelerated the development of remote patient monitoring services forchronic conditions like chronic obstructive pulmonary disease (COPD) and heartdisease with the release of the iPulseOxTM. This innovative device is one of theworld's first cellular-connected pulse oximeters, showcasing Smart Meter'sexpertise in cellular-enabled remote patient monitoring (RPM) data and devices.
- In March 2021, Noninintroduced a wristband and a sensor for use with its WristOx2 3150 wrist-wornpulse oximeter, expanding its range of single-use disposable items (SpO2).
Key Market Players
- Medtronic, Plc.
- GE Healthcare
- Koninklijke Philips N.V.
- Masimo Corporation
- Nihon Kohden Corporation
- Nonin Medical, Inc.
- Omron Corporation
- Opto Circuits India Ltd.
- Welch Allyn, Inc.
- OSI Systems,Inc.
| By Product Type | By Sensor Type | By Patient Type | By End User | By Region | |||
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