Global Pulse Oximeters Market Projected to Grow Above USD 3,555.9 Million by 2026

16-Apr-2021 | Facts and Factors

As per the market research report published by Facts and Factors, the global pulse oximeters market was valued at approximately USD 2,1836.4 Million in 2019 and is expected to generate revenue of around USD 3,555.9 Million by end of 2026, growing at a CAGR of around 7.24% between 2020 and 2026.

Pulse oximeters have proved to be an efficient method for assessing a patient's oxygenation status, and they are now commonly used in a number of departments and units in hospitals. Because of the numerous age groups of patients admitted to hospitals and other settings, the demand for pulse oximeters is growing. Patients with cardiac arrest, multisystem injuries, apneic disorders, sickle-cell crises, and drowning events require pulse oximeters. Pulse oximeters are expected to be in high demand in the future due to their large variety of applications.

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Top Market Players

Major players in the Pulse Oximeters market are  Spacelabs Healthcare, Carefusion Corp., Nihon Kohden Corporation, GE Healthcare, Philips Healthcare,  Masimo, CAS Medical Systems, Inc.; Opto Circuits India Ltd.; Nonin Medical, Inc.; Medtronic (Covidien), Smiths Medical; Welch Allyn and Meditech Equipment Co. amongst others

Report Scope

Report Attribute

Details

Market Size in 2019

USD 1,836.4 Million

Projected Market Size in 2026

USD 3,555.9 Million

Growth Rate

CAGR 7.24%

Base Year

2019

Forecast Years

2020-2026

Key Market Players

Spacelabs Healthcare, Carefusion Corp., Nihon Kohden Corporation, GE Healthcare, Philips Healthcare, Masimo, CAS Medical Systems, Inc.; Opto Circuits India Ltd.; Nonin Medical, Inc.; Medtronic (Covidien), Smiths Medical; Welch Allyn and Meditech Equipment Co., and others.

Key Segment

By Product Type, By End-User, and By Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

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Market Dynamics

Pulse oximeters are instruments that monitor critical health indicators like respiratory rate, heart rate, and pulse rate. These are used to keep track of a patient's condition before or after a medical diagnosis. Pulse oximeters are used in hospital settings, at home, and in medical emergencies. The market is expected to be driven by factors such as an increase in the geriatric population, a shift toward home monitoring, an increase in the incidence rate of chronic diseases such as cardiovascular disorders and obesity, and increased patient knowledge of advanced pulse oximeters. However, in low- and middle-income countries, a lack of understanding about these devices stifles market development.

The incorporation of artificial intelligence in pulse oximeters is expected to increase demand for these devices in the home and in hospitals in the coming years. With the increased use of mobile-based platforms and wearable devices to determine the degree of oxygen saturation in patients, the demand is increasing. Furthermore, developments in microprocessor technology, as well as advancements in LED and photoelectric sensors, have improved pulse oximeter precision and reliability. To promote the use of pulse oximeters, several businesses are displaying improved versions and waving study results.

Since the COVID-19 pandemic has limited visits to medical facilities, medical care systems have been hampered, and manufacturers are developing new devices to offer alternative telehealth solutions. Tyto Care, a telehealth company, released a fingertip pulse oximeter in January 2021 that connects to the TytoCare system through a cable and logs test results to the patient's EHR, allowing clinicians to track the patient remotely.

In 20219 the pulse oximeter market was dominated by the handheld segment, which accounted for 41.2% of total revenue. The major reason of these oximeters are simple to use in case of an emergency is driving the market. The level of oxygen saturation in a patient's blood may have a direct effect on the treatment's outcome. Over the projected period, a rising number of stroke cases and surgeries is expected to fuel business growth.

North America is projected to Dominate Global Pulse Oximeters Market Growth

In 2019, the pulse oximeter market in North America was the biggest. In 2019, the United States had the highest market share in North America, with 80.2 %, and is expected to grow at a CAGR of 7.6 % over the projected period. Because of the increasing pool of elderly patients who are more susceptible to diseases and need pulse oximeters for routine monitoring of their condition, APAC is expected to be the fastest-growing market during the forecast period. Further, due to a large geriatric population, improved healthcare, and the existence of an active American Academy of Pediatrics, which strongly supports the product. The global pulse oximeter market will see substantial growth as a result of all of this.

China is expected to be the fastest-growing market for pulse oximeters in the Asia Pacific region, with a market share of 37.6% by 2026. This is largely due to the widespread use of modern technologies and substantial investment in research and development. The advances have resulted in the creation of lightweight, app-connected as well as patient-friendly pulse oximeters in China, which will fuel the pulse oximeter market's growth in the coming years.

Due to the rising prevalence of chronic diseases and the increasing geriatric population in India, the pulse oximeters market is expected to grow significantly over the forecast period. Government guidelines requiring pulse oximetry during surgery have led to the company's strong growth. Pulse oximetry is needed for the detection of both saturation and heart rate, according to the Indian Society of Anaesthesiologists' recommendations. Furthermore, government spending is increasing. Assisting in disease monitoring R&D would help the Indian market expand faster.

Browse the full “Pulse Oximeters Market By Product Type (Fingertip Oximeter, Handheld Oximeter, Tabletop Oximeter, and Others Oximeter) By End-Use (Hospitals, Healthcare Facilities, Ambulatory Surgical Centers and Homecare): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” report at https://www.fnfresearch.com/pulse-oximeters-market.

The global pulse oximeters market is segmented as follows:

By Product Type:

  • Fingertip
  • Handheld
  • Tabletop
  • Others

By End Use:

  • Hospitals
  • Healthcare Facilities
  • Ambulatory Surgical Centers
  • Homecare

By Region:

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

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