Pulse Oximeter Market By Share, Size and Forecast 2028|TechSci Research

Summary

Report Description

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

Global Pulse Oximeter Market has valued at USD 3452.23 Million in 2022 and is anticipated to project impressive growth in the forecast period with a CAGR of 5.24% through 2028. A pulse oximeter is a discreet and non-invasive electronic device that monitors changes in the blood's oxygen saturation level. It comes in various styles, including fingertip, wrist-worn, tabletop/besides, portable, and pediatric models. In hospitals and medical facilities, portable oximeters are commonly used due to their advanced features. Unlike conventional analogs, these devices have a clip that is connected to the screen with a cable rather than directly to the oxygen monitor or screen itself. The screen not only displays the oxygen saturation of the blood but also provides additional diagnostic information. This instrument measures readings using infrared light.

Technological advancements have paved the way for the introduction of new and advanced pulse oximeter products, offering the industry a multitude of potential options. These advancements have enabled the analysis of hemoglobin levels, oxygen saturation, and pulse rate (PR) to become more accurate and reliable. Furthermore, morphological investigations of the waveform are now feasible, thanks to the progress in pulse oximeter technology. The introduction of digital pulse oximeters in the market is expected to significantly boost sales. Additionally, smartphone apps are now available to operate these digital pulse oximeters.

Key Market Drivers

Increasing Prevalence of Respiratory Diseases

The wide range of applications for pulse oximeters includes various indications such as endotracheal intubation, cardiac arrest, procedural sedation, asthma/chronic obstructive pulmonary disease (COPD), respiratory complaints, acute respiratory distress syndrome (ARDS), sleep disorders/sleep apnea, and shunts in cyanotic heart disease.

One of the key drivers for the increasing demand of pulse oximeters, both in developed and developing countries, is the prevalence of chronic respiratory disorders such as COPD, asthma, and obstructive sleep apnea (OSA). The growth of asthma in low and middle-income countries, particularly in Asia, is notable. For example, it is estimated that around 34 million people in India had asthma in 2022, accounting for 13.09% of the global burden. COPD is the third-leading cause of death worldwide and resulted in over 3.2 million deaths globally in 2022. These factors are anticipated to fuel the growth of the pulse oximetry market during the forecast period.

The increasing prevalence of chronic respiratory diseases such as COPD, asthma, sleep apnea, cystic fibrosis, and other respiratory infections is expected to drive the market to a certain extent. Oxygen saturation is a vital parameter in the management of COPD and asthma, and pulse oximeters accurately measure blood oxygen levels in patients with these conditions. According to the American Lung Association, COPD is the leading cause of death in the U.S., with over 12.5 million diagnosed cases and several undiagnosed cases.

Several factors contribute to the growth of the Pulse Oximeter market, including the rising prevalence of respiratory diseases like COPD, asthma, and pneumonia worldwide. Individuals are increasingly recognizing the importance of monitoring oxygen saturation levels for maintaining good health. Furthermore, technological advancements such as wireless connectivity and mobile applications are enhancing the user-friendliness and accessibility of pulse oximeter devices.

Technological Advancements and Easy Accessibility

Technological advancements have revolutionized the market for pulse oximeters, making these devices more accessible and user-friendly. Furthermore, the miniaturization of sensors has led to the introduction of compact and portable pulse oximeters that can be used at home or on the go. These advancements have resulted in improved accuracy and reliability, providing users with precise readings and dependable results. The integration of wireless connectivity and smartphone applications has further enhanced the functionality and convenience of pulse oximeters, enabling data tracking, analysis, and sharing with healthcare professionals, if necessary. The increased accessibility, affordability, and user-friendly nature of pulse oximeters have expanded their availability to a wider consumer base, driving market growth and adoption of these devices.

Emerging technologies, such as the application of artificial intelligence (AI) algorithms to combine pulse oximetry data for improved patient outcomes and remote patient monitoring, have the potential to positively impact the industry. Technological advancements in terms of accuracy, safety, and automation are expected to drive market growth throughout the forecast period. Manufacturers are focusing on developing automated, wireless, and remote oximeters for self-monitoring, thereby reducing hospitalization and physician visits. For example, in December 2021, Teli Health announced the launch of its first U.S. FDA-approved 4G connected oximeter. This newly introduced oximeter is suitable for remote patient monitoring.

Increasing Portable and Handheld Pulse Oximeters in the Home Healthcare

The demand for portable and transportable pulse oximeters for home healthcare is witnessing significant growth. Pulse oximeters are increasingly being utilized in the fields of sports medicine and aviation. The expanding geriatric population worldwide, along with their susceptibility to respiratory disorders, also contributes to the market's growth. Moreover, there is a rising demand for pulse oximeters in hospitals and clinics, particularly for critical care patients. Additionally, the market is being driven by the growing use of pulse oximeters in remote patient monitoring systems.

Furthermore, the increasing focus on fitness and wellness among the masses has spurred the demand for pulse oximeters. Athletes, fitness enthusiasts, and individuals involved in physical activities are increasingly relying on pulse oximeters to monitor their oxygen levels during workouts. By monitoring their oxygen saturation in real-time, they can optimize their performance, prevent overexertion, and ensure their safety during exercise. Pulse oximeters offer immediate feedback, empowering individuals to make informed decisions about their training intensity and make necessary adjustments. This growing emphasis on maintaining peak fitness levels and prioritizing overall well-being has resulted in a surge in the adoption of pulse oximeters as essential tools in the fitness and wellness industry, thereby fueling market growth.

Increasing Aging Population and Hospital Adoption of Oximeter

The demand for pulse oximeters is not only rising in developed economies but also in developing economies. As these economies prioritize preventative healthcare and wellness programs, the market for pulse oximeters is experiencing significant growth. This can be attributed to the increasing awareness among individuals about the importance of monitoring oxygen levels and overall health.

Furthermore, the advancements in technology have made pulse oximeters more accessible and user-friendly, allowing individuals to easily track their vital signs at home. This convenience has further contributed to the growing demand for pulse oximeters, as people seek to take control of their health and well-being.

Moreover, the ongoing COVID-19 pandemic has highlighted the importance of monitoring oxygen saturation levels, as low oxygen levels can be an early indicator of respiratory distress. This has led to a surge in demand for pulse oximeters, not only for personal use but also in healthcare settings. With the global focus on healthcare and well-being, the demand for pulse oximeters is expected to continue its upward trajectory. As individuals become more proactive in managing their health, pulse oximeters play a crucial role in providing them with real-time information about their oxygen levels, empowering them to make informed decisions about their well-being.

Download Free Sample Report

Key Market Challenges

High Price for Innovative Pulse Oximeter Devices

Advanced pulse oximeter devices are relatively expensive, which can discourage healthcare providers from acquiring them. These devices come with a higher price tag due to their advanced features, such as continuous monitoring and customizable alarms. Chronically ill patients may need to use these devices at home, leading to additional financial burdens for both patients and caregivers. The high cost of sophisticated pulse oximeter devices has implications for the accessibility of pulse oximetry in low-income and underserved communities. The lack of affordable devices in these communities may contribute to more severe health outcomes.

Low-Cost Pulse Oximeter Models Have Limited Accuracy and Reliability

Low-cost pulse oximeter models can be prone to inaccuracy and unreliability. While these devices are more affordable and accessible, their limited precision and dependability can compromise patient safety and care. In certain cases, inaccurate readings may lead to misdiagnosis or treatment delays. This challenge is particularly prevalent in developing nations where access to sophisticated pulse oximeters is limited. Consequently, healthcare providers in these regions face difficulties in accurately measuring patient oxygen saturation levels, which can result in suboptimal patient care.

Key Market Trends

Increasing Online Marketing Strategies by Market Vendors

A significant factor influencing the growth of the global pulse oximetry market is the implementation of effective online marketing strategies by market vendors. The marketing tactics employed by vendors for pulse oximeters have undergone a transformation due to the growing preference for home care settings. As a result, vendors are innovating new approaches to enhance their market presence through online marketing activities, thereby increasing product sales.

Prominent vendors like Masimo are strategically leveraging their online presence by establishing official pages on popular social media platforms such as Twitter and Facebook to effectively market their pulse oximetry products. Furthermore, an increasing number of vendors are embracing online retailing, enabling them to extend their reach beyond traditional end-users such as clinics and hospitals, and cater to the needs of home-based healthcare users. These emerging trends are anticipated to drive the growth of the pulse oximetry market throughout the forecast period.

Expansion of Medical Businesses in Developing Nations

Players in the pulse oximeter market for medical devices can anticipate significant growth opportunities from emerging economies. As the governments of China and India continue to prioritize value-based care systems and healthcare modernization, investments in the medical sector are steadily increasing. Moreover, the rise of medical equipment and generic pharmaceuticals manufacturing hubs in these emerging nations further contributes to the growth potential. With the production of medical devices already experiencing substantial growth, current trends suggest even greater opportunities on the horizon. This promising outlook positions the pulse oximeter market to thrive in the coming years.

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 Insights

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.

Download Free Sample Report

Regional Insights

North America is projected to make the largest contribution to the growth of the global market during the forecast period. Factors such as the high prevalence of respiratory disorders and chronic diseases, increasing surgical procedures, the presence of skilled physicians, and advancements in healthcare infrastructure are significantly driving the growth of the pulse oximeter market in the region. Furthermore, the market in North America is propelled by the presence of renowned vendors like General Electric Co., Medtronic, Masimo, and Smiths Medical. The rising mortality rate due to respiratory disorders and cardiovascular diseases (CVDs) necessitates early diagnosis and prevention. Therefore, these factors are anticipated to drive the growth of the global pulse oximetry market throughout the forecast period.

Recent Developments

In June 2022, the Garmin Vivosmart 5 fitness band was launched in India, featuring Women's health tracking, Heart rate monitoring, body battery energy monitoring, step count, calorie count, stress tracking, and blood oxygen level monitoring.
In March 2022, Smart Meter accelerated the development of remote patient monitoring services for chronic conditions like chronic obstructive pulmonary disease (COPD) and heart disease with the release of the iPulseOxTM. This innovative device is one of the world's first cellular-connected pulse oximeters, showcasing Smart Meter's expertise in cellular-enabled remote patient monitoring (RPM) data and devices.
In March 2021, Nonin introduced a wristband and a sensor for use with its WristOx2 3150 wrist-worn pulse 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
	Fingertip Handheld Others	Reusable Disposable	Adult Pediatric Neonatal	Hospitals & Clinics Homecare Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Pulse Oximeter Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Pulse Oximeter Market, By Product Type:

o Fingertip

o Handheld

o Others

Pulse Oximeter Market, By Sensor Type:

o Reusable

o Disposable

Pulse Oximeter Market, By Patient Type:

o Adult

o Paediatric

o Neonatal

Pulse Oximeter Market, By End User:

o Hospitals & Clinics

o Homecare

o Others

Pulse Oximeter Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Europe

§ France

§ United Kingdom

§ Italy

§ Germany

§ Spain

o Asia-Pacific

§ China

§ India

§ Japan

§ Australia

§ South Korea

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East & Africa

§ South Africa

§ Saudi Arabia

§ UAE

§ Kuwait

§ Turkey

§ Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Pulse Oximeter Market.

Available Customizations:

Global Pulse Oximeter market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Pulse Oximeter Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validations

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Pulse Oximeter Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Product Type (Fingertip, Handheld and Others)

5.2.2. By Sensor Type (Reusable v/s Disposable)

5.2.3. By Patient Type (Adult, Pediatric, Neonatal)

5.2.4. By End User (Hospitals & Clinics, Homecare, Others)

5.2.5. By Region

5.2.6. By Company (2022)

5.3. Market Map

6. North America Pulse Oximeter Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Product Type

6.2.2. By Sensor Type

6.2.3. By Patient Type

6.2.4. By End User

6.2.5. By Country

6.3. North America: Country Analysis

6.3.1. United States Pulse Oximeter Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Product Type

6.3.1.2.2. By Sensor Type

6.3.1.2.3. By Patient Type

6.3.1.2.4. By End User

6.3.2. Canada Pulse Oximeter Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Product Type

6.3.2.2.2. By Sensor Type

6.3.2.2.3. By Patient Type

6.3.2.2.4. By End User

6.3.3. Mexico Pulse Oximeter Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Product Type

6.3.3.2.2. By Sensor Type

6.3.3.2.3. By Patient Type

6.3.3.2.4. By End User

7. Europe Pulse Oximeter Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Product Type

7.2.2. By Sensor Type

7.2.3. By Patient Type

7.2.4. By End User

7.2.5. By Country

7.3. Europe: Country Analysis

7.3.1. Germany Pulse Oximeter Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Product Type

7.3.1.2.2. By Sensor Type

7.3.1.2.3. By Patient Type

7.3.1.2.4. By End User

7.3.2. United Kingdom Pulse Oximeter Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Product Type

7.3.2.2.2. By Sensor Type

7.3.2.2.3. By Patient Type

7.3.2.2.4. By End User

7.3.3. Italy Pulse Oximeter Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecasty

7.3.3.2.1. By Product Type

7.3.3.2.2. By Sensor Type

7.3.3.2.3. By Patient Type

7.3.3.2.4. By End User

7.3.4. France Pulse Oximeter Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Product Type

7.3.4.2.2. By Sensor Type

7.3.4.2.3. By Patient Type

7.3.4.2.4. By End User

7.3.5. Spain Pulse Oximeter Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Product Type

7.3.5.2.2. By Sensor Type

7.3.5.2.3. By Patient Type

7.3.5.2.4. By End User

8. Asia-Pacific Pulse Oximeter Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Product Type

8.2.2. By Sensor Type

8.2.3. By Patient Type

8.2.4. By End User

8.2.5. By Country

8.3. Asia-Pacific: Country Analysis

8.3.1. China Pulse Oximeter Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Product Type

8.3.1.2.2. By Sensor Type

8.3.1.2.3. By Patient Type

8.3.1.2.4. By End User

8.3.2. India Pulse Oximeter Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Product Type

8.3.2.2.2. By Sensor Type

8.3.2.2.3. By Patient Type

8.3.2.2.4. By End User

8.3.3. Japan Pulse Oximeter Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Product Type

8.3.3.2.2. By Sensor Type

8.3.3.2.3. By Patient Type

8.3.3.2.4. By End User

8.3.4. South Korea Pulse Oximeter Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Product Type

8.3.4.2.2. By Sensor Type

8.3.4.2.3. By Patient Type

8.3.4.2.4. By End User

8.3.5. Australia Pulse Oximeter Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Product Type

8.3.5.2.2. By Sensor Type

8.3.5.2.3. By Patient Type

8.3.5.2.4. By End User

9. South America Pulse Oximeter Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Product Type

9.2.2. By Sensor Type

9.2.3. By Patient Type

9.2.4. By End User

9.2.5. By Country

9.3. South America: Country Analysis

9.3.1. Brazil Pulse Oximeter Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Product Type

9.3.1.2.2. By Sensor Type

9.3.1.2.3. By Patient Type

9.3.1.2.4. By End User

9.3.2. Argentina Pulse Oximeter Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Product Type

9.3.2.2.2. By Sensor Type

9.3.2.2.3. By Patient Type

9.3.2.2.4. By End User

9.3.3. Colombia Pulse Oximeter Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Product Type

9.3.3.2.2. By Sensor Type

9.3.3.2.3. By Patient Type

9.3.3.2.4. By End User

10. Middle East and Africa Pulse Oximeter Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Product Type

10.2.2. By Sensor Type

10.2.3. By Patient Type

10.2.4. By End User

10.2.5. By Country

10.3. MEA: Country Analysis

10.3.1. South Africa Pulse Oximeter Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Product Type

10.3.1.2.2. By Sensor Type

10.3.1.2.3. By Patient Type

10.3.1.2.4. By End User

10.3.2. Saudi Arabia Pulse Oximeter Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Product Type

10.3.2.2.2. By Sensor Type

10.3.2.2.3. By Patient Type

10.3.2.2.4. By End User

10.3.3. UAE Pulse Oximeter Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Product Type

10.3.3.2.2. By Sensor Type

10.3.3.2.3. By Patient Type

10.3.3.2.4. By End User

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Recent Development

12.2. Mergers & Acquisitions

12.3. Product Launches

13. Global Pulse Oximeter Market: SWOT Analysis

14. Porter’s Five Forces Analysis

14.1. Competition in the Industry

14.2. Potential of New Entrants

14.3. Power of Suppliers

14.4. Power of Customers

14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Business Overview

15.2. Service Offerings

15.3. Recent Developments

15.4. Key Personnel

15.5. SWOT Analysis

15.5.1. Medtronic, Plc.

15.5.2. GE Healthcare

15.5.3. Koninklijke Philips N.V.

15.5.4. Masimo Corporation

15.5.5. Nihon Kohden Corporation

15.5.6. Nonin Medical, Inc.

15.5.7. Omron Corporation

15.5.8. Opto Circuits India Ltd.

15.5.9. Welch Allyn, Inc.

15.5.10. OSI Systems,Inc.

16. Strategic Recommendations

17. About Us & Disclaime

Figures and Tables

Frequently asked questions

What was the market size of the Global Pulse Oximeter Market in 2022?

The market size of the Global Pulse Oximeter Market was estimated to be USD 3452.23 Million in 2022.

Which was the dominant segment by end user in the Global Pulse Oximeter Market in 2022?

The home care setting and ambulatory care settings are two prominent segments in the healthcare industry. As of 2022, the home care setting segment holds the largest market share and is expected to grow at the highest compound annual growth rate (CAGR) throughout the forecast period. This growth can be attributed to various factors, including the increasing awareness of the importance of monitoring oxygen levels in patients. Fingertip pulse oximeters are considered cost-effective and efficient tools in home care, as they aid in tracking and preserving accurate oxygen level measurements. By utilizing fingertip pulse oximeters, the risk of readmission to a hospital can be reduced.

Which is the dominant region in the Global Pulse Oximeter Market?

North America accounted for the largest market share and is projected to experience significant growth at a Compound Annual Growth Rate (CAGR) during the forecast period. The growth of the oximeters market in the region can be attributed to factors such as monitoring systems, technological advancements, the presence of advanced healthcare infrastructure in the US and Canada, and increased funding for research and development. This growth is driven by the rising number of COVID-19 cases and the demand for pulse oximeters in patient treatment.

What are the major drivers for the Global Pulse Oximeter Market?

Increasing prevalence of chronic respiratory diseases and the rising need for portable monitoring devices are the major drivers for the Global Pulse Oximeter Market.

Related Reports

Sakshi Bajaal

Business Consultant

Talk To Analyst

Press Release

Pulse Oximeter Market to Grow with a CAGR of 5.24% through 2028

Sep, 2023

Growing demand for portable monitoring devices and increasing prevalence of respiratory diseases is expected to drive the Global Pulse Oximeter Market growth in the forecast period, 2024-2028.

Buy Now