The global pulse oximeter market is anticipated to grow at a CAGR of 2.3% during the forecast period (2024-2031). The growth in the global pulse oximeter market is majorly driven by the high prevalence of respiratory diseases, adoption of pulse oximeters, and surged in several COVID-19 patients during the forecast period. According to Worldometer, the COVID-19 pandemic has affected over 160 million people globally as of May 2021 and resulted in 3,346,760 deaths. The pandemic has led to the high adoption of oximeters in healthcare facilities, home care, and remote management of patients infected with COVID-19. According to Global Data’s report, the adoption of pulse oximeters especially tabletop pulse oximeters accounted for more than 60.0% of the pulse oximeters market in India in 2020. Moreover, during the pandemic, due to limited hospital bed capacity infected patients have been advised by their respective doctors to use the pulse oximeters in cases where there is a delay in getting admitted to hospitals. This led to the high demand and adoption of pulse oximeters.
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Apart from these, the presence of major players in the market and the introduction of advanced pulse oximeters by them are also enhancing the overall market growth. Therefore manufacturers are focusing on developing innovative products to provide alternative telehealth solutions. For instance, in March 2021, Nonin Medical, Inc., a provider of noninvasive medical monitoring systems has launched two new disposable products – a single-use wristband and a sensor for use with Nonin’s WristOx2 3150 wrist-worn pulse oximeter (SpO2). Moreover, in July 2021, Opto Circuits (India) Ltd. has relaunched its FDA-approved pulse oximeters which include a finger pulse oximeter, bedside/ICU pulse oximeters, and multiparameter patient monitoring systems under the brand names of MEDIAID and CRITICARE.
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Market Coverage
- Segment Covered-
o By Product Type
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Dr Trust, GE Healthcare, Honeywell International Inc., Koninklijke Philips N.V., Medtronic Plc,Smiths Group plc, and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Pulse Oximeter Market Report Segment
By Product Type
- Portable Pulse Oximeters (fingertip and wearable)
- Table Top Oximeter
- Handheld Oximeter
- Others
By End-User
- Hospitals
- Homecare
- Others (ASCs and Clinics)
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