Westford, USA, June 14, 2023 (GLOBE NEWSWIRE) -- The global Pulse Oximeters market size is expected to reach USD 3.12 billion by 2030 and exhibit a CAGR of 7.7% in the forecast period (2022−2030), according to Skyquest's latest research report. The growing prevalence of respiratory and cardiovascular diseases, the rising geriatric population, increasing demand for non-invasive monitoring devices and technological advancement in pulse oximetry are fueling the market growth.
Government Initiatives and Trends to Promote the Use of Pulse Oximeters
At a global scale, the emergence of smart oximeters with advanced features such as data connectivity and real-time monitoring, increasing adoption of wireless and portable devices and growing demand for continuous monitoring in critical care settings are the trends promoting the market growth.
Governments around the world have emphasized the importance of pulse oximeters during and after COVID-19. In the United States, the FDA has allowed expanded use of pulse oximeters to monitor patients with COVID-19 in non-hospital settings. Additionally, various governments have provided funding for the production and distribution of pulse oximeters in their respective countries.
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Fingertip Pulse Oximeter Type Demand to Grow Substantially in the Forecast Period
The Fingertip Pulse Oximeter type dominated the global market owing to its ease of use. It is also widely used in home healthcare settings, as well as in hospitals and clinics due to its portability and non-invasive nature. Additionally, technological advancements such as integrating Bluetooth and wireless connectivity have made fingertip pulse oximeters more user-friendly and convenient for patients and healthcare professionals.
Hospital is the Leading Application Segment
In terms of application, the Hospital is the leading segment due to the high volume of patients. In addition, they have a well-established infrastructure and are equipped with technologically advanced devices, including pulse oximeters, for monitoring the patient's vital signs and the requirement of pulse oximetry in various medical procedures.
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Asia-Pacific and North America are the leading Markets Due to the Presence of Major Market Players
Region-wise, North America is one of the largest growing markets owing to the presence of major market players, well-established healthcare infrastructure, and a high prevalence of respiratory diseases.
The markets in Asia Pacific is expected to grow at the fastest rate due to the increasing awareness about early disease diagnosis, rising healthcare expenditure and the growing geriatric population in the countries like China and India.
Browse in-depth TOC on " Pulse Oximeters Market "
Pages - 231
Tables - 113
Figures - 77
Pulse Oximeters Market Report Suggests:
- Medtronic has recently received FDA clearance for Nellcor OxySoft SpO2 sensor, the first pulse oximetry sensor designed to protect fragile skin and improve signal acquisition, helping clinicians make well-informed decisions for their critical care patients.
- In terms of application, the Hospital segment dominates due to the high volume of patients
- In terms of type, the Fingertip pulse oximeter type segment is projected to gain more popularity due to its high convenience
- North America and Asia Pacific are leading markets and will continue to exhibit dominance in the global market mainly due presence of major market players
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Pulse Oximeters Market Segmentation:
The global Pulse Oximeters market report is segmented based on Product type, application, and region.
By Product Type
- Fingertip Pulse Oximeters
- Handheld Pulse Oximeters
- Tabletop Pulse Oximeters
- Wrist-worn Pulse Oximeters
- Others
By End user
- Hospitals
- Clinics
- Ambulatory Surgery Centers
- Home Care Settings
- Others
By Region
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Spain
- RoE
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- RoLA
- Middle-East and Africa
- South Africa
- GCC Countries
- Rest of MEA
Pulse Oximeters Market Major Company Profiles:
- Masimo Corporation
- Medtronic plc
- Koninklijke Philips N.V.
- Nonin Medical, Inc.
- Smiths Medical, Inc.
- GE Healthcare
- Nihon Kohden Corporation
- Welch Allyn, Inc. (Now owned by Hillrom)
- Contec Medical Systems Co., Ltd.
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Spacelabs Healthcare, Inc.
- CAS Medical Systems, Inc. (Now owned by Edwards Lifesciences)
- Criticare Systems, Inc. (Now owned by Opto Circuits)
- Becton, Dickinson and Company (BD)
- Covidien Ltd. (Now owned by Medtronic plc)
- Edwards Lifesciences Corporation
- Oxitone Medical Ltd.
- Zensorium Pte. Ltd.
- Carefusion Corporation (Now owned by BD)
- ChoiceMMed America Co., Ltd.
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