Global Pulse Oximeter Market is valued at USD 2341.7 Million in 2020 and is expected to reach USD 3884.9 Million by 2027 with a CAGR of 7.5% over the forecast period.
Global Pulse Oximeter Market Global Size, Trends, Competitive, Historical and Forecast Analysis to 2021-2027: Rising prevalence of respiratory diseases, increasing number of surgical procedures and hospitalization, growing geriatric population, rising cases of Covid-19 are some of the major factors driving the growth of the Global Pulse Oximeter Market.
A pulse oximeter is a medical device in which a user’s blood oxygen level can be checked without needing to stuck any medical equipment into the human body like a needle. This device is usually placed on a fingertip. It can apply on the right middle finger and right thumb have statically higher value, making them perfect for a pulse oximeter. To forecast the oxygen saturation of the blood and the pulse rate light beams are used. The information about the amount of oxygen carried in the blood gives from blood saturation. Because of their ease of use and the ability to provide continuous and forthwith oxygen saturation values, in emergency medicine pulse oximeters are very important and are also very useful for those patients who have respiratory or cardiac problems, not only COPD but also for diagnosis of some sleep disorders such as apnea and hypopnea. There are some advanced features in oximeter that is phone-based oximeters and it has effective accuracy like stand-alone finger oximeter. The original oximeter was made by Allan Millikan in the 1940s. Initial efforts to establish pulse oximeter as a mandatory standard for patient monitoring during anesthesia originated in the united states during the 1980s.
Covid-19 has shown a positive impact on the growth of the global pulse oximeter market. As in the pandemic situation, everyone is facing some challenges to go for checking their pulse rate or oxygen level in their blood in hospital due to some major rules and regulations implemented in this Covid-19 pandemic i.e. social distancing, lockdown, etc. So there is increasing demand for pulse oximeters as its easy to use & users can buy pulse oximeters easily at a suitable cost. For identifying problems at an early stage this oximeter is an attractive option and as a visit to medical facilities & care services is delayed during the Covid-19 pandemic is restricted. It is giving a hike to the market as a homecare segment.
The Global Pulse Oximeter Market is segmented on the basis of product, type, technology, age group, end-users, and region & country level. On the basis of product, the pulse oximeter market is segmented into equipment and sensor. On the basis of type, the pulse oximeter market is segmented into portable, handheld, tabletop, and wearable. On the basis of technology, the market is segmented into conventional and connected. On the basis of age group, the pulse oximeter market is segmented into adult, infant, and neonatal. On the basis of end-users, the pulse oximeter market is segmented into hospital and home care.
The regions covered in this Pulse Oximeter market report are North America, Europe, Asia-Pacific, and the Rest of the World. Based on a country level, the market of a pulse oximeter is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, Southeast Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Some of the key players for the Global Pulse Oximeter market:
On January 21st, 2021; Telehealth company Tyto Care launched its US Food and Drug Administration (FDA)-cleared fingertip Pulse Oximeter (SpO2) medical device for checking blood oxygen saturation levels and heart rate remotely. The virtual examination solution used in the home setting can support clinicians in monitoring patients with Covid-19 and chronic lung or heart conditions, helping them avoid hospital and clinic visits. The Pulse Oximeter connects to TytoCare device by a cable. Users can carry out blood oxygen exam by placing their finger in the SpO2 device for 15 seconds.
Growing the prevalence of respiratory disease and growing generic population are some of the major factors for driving the market growth. As whole world is dealing with chronic obstructive pulmonary disease (COPD), asthma, pneumonia & others and these are among the most prevalent respiratory diseases as these diseases are making it difficult to move air in and out of the lungs that eventually leads to the low oxygen concentration in the blood because the airways of the lungs are obstructed. For example; according to the Population Reference Bureau (PRB); near about 65 million people are suffering from COPD, it makes 3rd leading cause of death worldwide. So there is increasing demand for pulse oximeter as it is primarily used for checking oxygen levels in the blood.
The mortality rate of patients with COPD can reduce by regular checking of blood oxygen levels according to the Population Reference Bureau (PRB). In addition, rising incidences of chronic diseases such as hypertension, respiratory diseases, CVD, diabetes, and other diseases could affect oxygen levels (SpO2). To detect the oxygen level at a personal level, users with this type of disease prefer pulse oximeter primarily as it can help to diagnose blood if there is a problem regarding blood oxygen level.
Furthermore, rising cases of Covid-19 are also fostering market growth. For example; according to WHO; globally, as December 15th, 2021, there have been 270,791,973 confirmed cases of Covid-19, including 5,318,216 deaths, reported to WHO. And also, growing investment to improve healthcare infrastructure is also fueling the growth of the market. For instance, in July 2020, Mitocon Biomed which was founded by Jinang Dhami, a Biomedical Research Engineer, launched a purely made-in-India pulse oximeter which name was Oxysat with 18 months replacement warranty at an affordable price. They were investing heavily in infrastructure to provide better quality assurance than many imported ones. This investment is to improve healthcare infrastructure with the se of their pulse oximeter devices, can directly impact on quality of that infrastructure which consequently means improving the growth of the market. Moreover, the increasing number of surgical procedures & hospitalization is another factor propelling the growth of the global wood floorings market.
However, regulations & accuracy concern over the OTC pulse oximeter may hinder the growth of the global pulse oximeter market. In spite of that, growing medical device companies & outsourcing operating in emerging economies, also growing demand for patient monitoring in non-hospital settings persists to establish rewarding opportunities for the further growth of the global pulse oximeter market.
Geographically, North America is accounted for the largest share of the global pulse oximeter market followed by Europe, Asia Pacific, Latin America, and the Middle East & Africa. This is due to the growing number of Covid-19 cases and the increasing use of pulse oximeters during the treatment phase for chronic obstructive pulmonary disease (COPD), asthma, pneumonia & others. In North America, there is an increasing need of improved respiratory monitoring devices with advanced technology in the US and Canada as respiratory diseases is the leading cause of death and disability in the region. For instance; According to the Centers for Disease Control and Prevention (CDC); about 4.6% of adults have ever been diagnosed with COPD, emphysema, or chronic bronchitis. In 2018, the number of deaths by chronic obstructive pulmonary diseases was about 56,050 and by chronic lower respiratory diseases were about 159,486 in the United States. Thus, it has increased demand for pulse oximeters in the prevalence of respiratory diseases with the growing geriatric population in the North American region. Also, high funding for improving the technical advancement of healthcare infrastructure is boosting the growth of the pulse oximeter market in this region.
Moreover, Europe is the second dominating region in the global pulse oximeter market. As in Europe, there are a number of patients who are facing chronic respiratory injuries, which have encouraged the demand for pulse oximeters in the market. For instance; According to the European Respiratory Society, the annual rate of death in Europe caused of respiratory disease is one million. According to market key players, the demand for new strategies in a pulse oximeters is increasing. So, manufacturers are focusing on the development of new products with preference for finger pulse oximeters which is one of the most important factors for driving the growth of the market. For instance; on November 1st, 2021; Masimo Company has announced that it has launched Dual SET-Pulse Oximetry for Root which is a multipurpose patient monitoring and connectivity hub. This is a combined solution that increases the automation of newborn screenings with two simultaneous measurements of oxygen saturation (SpO2) at pre-and post-ductal sites by its intuitive Eve application. In addition, rising geriatric population, rising adoption of advance technology and improving home health infrastructure are also supplementing the market growth in this region.
Middle East and Africa
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2027|
|Market Size in 2020:||USD 2341.7 Million|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2027:||USD 3884.9 Million|
|Tables, Charts & Figures:||175|
|Pulse Oximeter Companies||Masimo Corporation, Edwards Lifesciences Corporation, Nihon Kohden Corporation, General Electric Company, Medtronic PLC, Koninklijke Philips N.V., Drägerwerk AG & Co. KGaA, Smiths Medical Inc., Opto Circuits Limited, Halma PLC, Spacelabs Healthcare Inc.|
|Segments Covered||By Product, By Type of use, By Technology, By Age Group, By End-user|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|