The global Pulse Oximeters market is anticipated to increase at a 6.02% CAGR to reach value USD 3.45 Billion in 2030
The global pulse oximeters market was valued at USD 2,065.1 million in 2019 and is expected to grow at a CAGR of 6.5% over the forecast period. Increased focus on patient safety in anaesthesia and demand for reliable reporting of vital statistics could drive market development. Increased understanding of patient monitoring and an increase in the prevalence of target diseases could fuel market growth in the forecast period. In the coming years, government policies and new product availability are expected to further boost demand growth.
The global pulse oximeters market is categorized based on type, end-use. Region wise, North America was the largest market in 2018; however, Asia Pacific is expected to be the fastest growing region by 2028, with a CAGR of over 7%.
Key players serving the global pulse oximeters market include Medtronic (Covidien), CareFusion Corp., GE Healthcare, Philips Healthcare, Masimo, CAS Medical Systems, Inc., Nonin Medical, Inc., Smiths Medical, Welch Allyn, Spacelabs Healthcare among other prominent players.
Pulse Oximeters Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||USD 3.45 Billion|
|Growth Rate||CAGR of 6.02% during 2021-2030|
|Segment Covered||By Mode Of Product, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Medtronic plc (Ireland), Contec Medical Systems Co., Ltd. (China), Koninklijke Philips N.V. (Netherlands), Nonin Medical Inc. (US), Meditech Equipment Co., Ltd. (Meditech Group) (China), ChoiceMMed (China), OSI Systems, Inc. (the US), Nihon Kohden Corporation (Japan), Masimo (US), and General Electric Company (US).|
Key Segment Of The Pulse Oximeters Market
By Mode Of Product,2022-2030(USD Million)
By Type,2022-2030(USD Million)
• Portable Pulse Oximeters
• Bedside/ Tabletop Pulse Oximeters
By Age Group,2022-2030(USD Million)
By End-User,2022-2030(USD Million)
• Home Care Settings
• Ambulatory Care Settings
Regional Overview, 2022-2030 (USD Million) North America
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
The initial detection of neonatal hypoxemic conditions using pulse oximeters will significantly lessen the amount of neonatal deaths. Increased pulse oximeters penetration is expected to help the situation, especially in developed economies. In patients infected with coronavirus, constant observing of respiratory parameters is crucial. Therefore, medical specialists rely heavily on medical instruments for diagnosis, treatment and control of COVID-19 symptoms, such as pulse oximeters and multimeter monitors. In addition, the WHO recommendations for clinical disease treatment have pointed to oxygen therapy as a significant intervention in serious disease patients. Government organizations & health associations across the globe have therefore recommended that health facilities be fitted with pulse oximeters & medical oxygen systems.
During the forecast period, the home care sector is expected to see lucrative growth. An growing understanding of the value of tracking the oxygen level is one of the main drivers for the demand for pulse oximeters. However, patients with chronic diseases tend to seek treatment in the home, where the demand of homecare pulse oximeters is developed. Fingertip pulse oximeters are considered inexpensive and effective in home treatment because they can help control and store readings of patients' oxygen level, thus helping to minimise the risk of hospital readmission.
Based on regions, the global pulse oximeters market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In the year 2019, North America held the majority of the market share owing to the presence of large patient pool suffering from numerous respiratory conditions. On the other hand, Asia Pacific region is anticipated to witness highest growth rate owing to rising demand for pulse oximeters from emerging economies such as Japan, China, and India. Asia Pacific pulse oximeters market is dominated by China, and followed by China, and India. India pulse oximters market is projected to witness fastest growth rate owing to rising healthcare awareness coupled with growing government focus to develop healthcare and medical device industry for the growing population.