Pune, India, Feb. 06, 2023 (GLOBE NEWSWIRE) -- The pulse oximeters market size was USD 2.66 billion in 2021. The market is projected to grow from USD 2.36 billion in 2022 to USD 3.02 billion in 2029 at a CAGR of 3.6% during the 2022-2029 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Pulse Oximeters Market, 2022-2029.” Factors such as the rising prevalence of chronic respiratory diseases and rising technological advancements will boost the growth of the market during the forecast period. Also, improving strategic tactics among dominant players will increase the footprint of the market.
According to the report, fingertip pulse oximeters segment is anticipated to dominate the global pulse oximeters market and expected to continue its dominance in the forecast duration as well. This is owing to the fact that this device can be used by simply clipping it to the fingers of the patient as it can measure the level of oxygen present in the blood from wavelength. Other factors promoting the use of fingertip pulse oximeters are minimal cost, better precision, and effective ergonomics.
Key Industry Development:
August 2021: Nihon Seimitsu Sokki Co. Ltd announced expanding its production capacity to 1.5 times the level it was by the end of 2020. The increase in production capacity is brought on in order to aid patients during the ongoing pandemic.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 3.6% |
| 2029 Value Projection | USD 3.02 Billion |
| Base Year | 2021 |
| Pulse Oximeter Market Size in 2021 | USD 2.66 Billion |
| Historical Data | 2018 to 2020 |
| No. of Pages | 179 |
Key Takeaways
- High prevalence of chronic respiratory diseases requiring measuring device is expected to drive market growth in the coming years
- Increased use of oximeters for anesthesia monitoring and chronic disease detection in critical surgeries
- The tabletop oximeter segment will capture the highest pulse oximeter market share in 2021.
- The fingertip segment is expected to have the highest CAGR i.e 22.0%
- North America dominated the market with $1.07 billion revenue in 2021
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Drivers and Restraints:
Rising Prevalence of Chronic Respiratory Diseases & Increasing Government Recommendations to Augment Market Growth
Factors such as the rising prevalence of chronic respiratory diseases including asthma, chronic obstructive pulmonary disease (COPD), lung cancer, occupational lung disease and cystic fibrosis will boost the pulse oximeters market growth during the forecast period. Additionally, the rising usage of oximeters for anesthesia monitoring during critical surgeries and detecting chronic diseases such as CHDs and hypoxemia will increase the footprint of the market. Also, a rising number of strategic initiatives including mergers & acquisitions and collaborations will boost the growth of the market.
However, increasing inaccuracies and limitations regarding the use of oximeters will limit the growth of the market during the forecast period.
Segments:
Based on the product type, the market can be divided into tabletop oximeters, handheld oximeters, fingertip oximeters, and others.
By technology, the market can be broken down into smart and conventional.
With respect to age group, the market can be segmented into pediatrics and adults.
Based on end-user, the market can be fragmented across hospitals and ambulatory surgical centers, clinics, home healthcare, and others.
In terms of geography, the market can be categorized into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
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Report Coverage:
The market report for pulse oximeters is aimed at providing a competitive landscape by providing critical factors of the market including technological advancements, prominent players and their accompanying tactics, and leading products from all segments. Additionally, future market trends and ongoing industry developments are presented in the report. Also, factors that are expected to impact the market in a meaningful way are provided.
Regional Insights:
North America to Reign Dominance During Forecast Owing to Rapid Adoption of Wireless Devices
North America will witness the largest pulse oximeters market share during the forecast due to the rising number of patients suffering from chronic respiratory diseases and the surge in hospital admissions. Additionally, the rising adoption of wireless pulse oximeters and the presence of dominant players in the region will increase the footprint of the market.
Europe will occupy a significant market share in terms of global contribution owing to the rising prevalence of CCHD among newborns and improving healthcare infrastructure to name a few.
The Asia Pacific will occupy a considerable market share owing to the rising focus on improving healthcare infrastructure and rising COVID-19 cases
Competitive Landscape:
Diversified Product Portfolio to Push Dominant Players Towards Gaining Incremental Market Value
The sector of pulse oximeters was highly consolidated before the ongoing pandemic, however, a rise in demand post-pandemic led to many small and local players emerging from the market. Masimo & Medtronic are considered the dominant players in the sector and occupy a substantial market share. For example, in November 2021, Masimo announce launching the Dual SET pulse oximeter. This device is highly efficient regarding patient monitoring capabilities. The product launch will strengthen their portfolio for critical congenital heart disease (CCHD) and further increase their market presence. Players are focused on integrating diversified product portfolios in order to cater to a wider consumer base.
List of Key Players Mentioned in the Report:
- GE Healthcare (General Electric Company) (U.S.)
- Masimo (U.S.)
- VYAIRE (U.S.)
- Nonin (U.S.)
- Medtronic (Ireland)
- Koninklijke Philips N.V. (Netherland)
- Smiths Medical (ICU Medical Inc.) (U.S.)
- Beurer GmbH (Germany)
- NIHON KOHDEN CORPORATION (Japan)
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Major Table of Contents:
- Global Pulse Oximeters Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Fingertip Oximeters
- Handheld Oximeters
- Tabletop Oximeters
- Others
- Market Analysis, Insights and Forecast – By Technology
- Conventional
- Smart
- Market Analysis, Insights and Forecast – By Age Group
- Adults
- Pediatrics
- Market Analysis, Insights and Forecast – By End-user
- Hospitals and Ambulatory Surgical Centers
- Clinics
- Home Healthcare
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Pulse Oximeters Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Fingertip Oximeters
- Handheld Oximeters
- Tabletop Oximeters
- Others
- Market Analysis, Insights and Forecast – By Technology
- Conventional
- Smart
- Market Analysis, Insights and Forecast – By Age Group
- Adults
- Pediatrics
- Market Analysis, Insights and Forecast – By End-user
- Hospitals and Ambulatory Surgical Centers
- Clinics
- Home Healthcare
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Europe Pulse Oximeters Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Fingertip Oximeters
- Handheld Oximeters
- Tabletop Oximeters
- Others
- Market Analysis, Insights and Forecast – By Technology
- Conventional
- Smart
- Market Analysis, Insights and Forecast – By Age Group
- Adults
- Pediatrics
- Market Analysis, Insights and Forecast – By End-user
- Hospitals and Ambulatory Surgical Centers
- Clinics
- Home Healthcare
- Others
- Market Analysis, Insights and Forecast – By Country/ Sub-region
- Germany
- France
- Spain
- U.K.
- Italy
- Scandinavia
- Rest of Europe
TOC Continued…!
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