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Pulse Oximeter Market Size, Share & Growth | Forecast [2031]

Pulse Oximeter Market

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Segments - by End-users (Homecare and Hospitals & Other Healthcare Facilities), Types (Handheld, Fingertip, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

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Editor:

Shreyas Tandon

Report Description

The global pulse oximeter market size was valued at USD 2.27 billion in 2020 and is projected to reach USD 3.33 billion by 2028, expanding at a CAGR of 6.32 % during the forecast period, 2021–2028. The growth of the market is attributed to the increasing prevalence of target diseases globally.

Pulse oximetry is a noninvasive way to monitor a person's oxygen saturation. However, the reading of perivascular oxygen saturation (SpO2) from arterial blood gas analysis is often not comparable to the more favorable reading related to arterial blood gases, which comprises of arterial oxygen saturation (SaO2). These two are adequately correlated that the noninvasive, convenient, safe, and economical pulse oximetry methodology is beneficial for assessing oxygen saturation in practices for clinical use. A sensor device is implanted on a thin area of the patient's body, generally on earlobe or a fingertip, or across the foot in the case of a newborn, in its most common i.e., transmissive application mode. Two wavelengths of light are sent via the body part to a photodetector by the gadget. It determines the absorbances due to pulsing arterial blood alone, eliminating venous bone, skin, blood, muscle, fat, and nail paint, by measuring the changing absorbance at each of the wavelengths.

The COVID-19 pandemic outbreak had negative impact on the pulse oximeter market. During the pandemic, the demand for the devices were disrupted owing to insufficiency of material supply, which resulted in temporary halt in manufacturing and supply chain of the devices. The market is expected to recover an uptrend operation soon owing to subsiding the COVID cases significantly across the globe.

Market Trends, Drivers, Restraints, and Opportunities

Growing prevalence of respiratory diseases is one of the key factors driving the market growth.
Increasing awareness regarding applications of pulse oximeters in COVID-19 disease management is expected to boost the market growth in the coming years.
Rising adoption of pulse oximeter globally is expected to fuel the market growth during the forecast period.
Regulations and accuracy concerns related to pulse oximeters present a major challenge. This is anticipated to hinder the market growth in the projected period.
Growing demand for patient monitoring in non-hospital settings is projected to create significant growth opportunities for the market in the near future.

Scope of the Report

The report on the global pulse oximeter market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Pulse Oximeter Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	End-users (Homecare and Hospitals & Other Healthcare Facilities) and Types (Handheld, Fingertip, and Others)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Nihon Kohden Corp.; Spacelabs Healthcare; Medtronic plc; CareFusion Corp.; Welch Allyn, Inc.; GE Healthcare; Philips Healthcare; Masimo; CAS Medical Systems, Inc.; Opto Circuits India Ltd.; Nonin Medical, Inc.; Smiths Medical, Inc.; and Meditech Equipment Co., Ltd.

Market Segment Insights

Hospitals & other healthcare facilities segment to grow at a rapid pace

Based on end-users, the global pulse oximeter market is bifurcated into homecare and hospitals & other healthcare facilities. The hospitals & other healthcare facilities segment is expected to grow at a rapid pace during the forecast period owing to the frequent emergency room visits and increase in the number of surgeries. However, the homecare segment is anticipated to hold a key share of the market in the coming years due to the factors, such as increasing awareness regarding the significance of monitoring oxygen levels. Additionally, self-monitoring allows patients to take an active role in their own health care, which is expected to drive the segment growth further.

Handheld segment to expand at a considerable CAGR

On the basis of types, the market is segregated into handheld, fingertip, and others. The handheld segment is projected to expand at a considerable CAGR during the forecast period attributed to the rise in the number of stroke cases and surgeries. On the other hand, the fingertips segment is anticipated to account for a major market share during the forecast period due to technological advancement in pulse oximeter.

North America to constitute a key market share

In terms of regions, the global pulse oximeter market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to increasing awareness related to the importance of monitoring respiratory vitals between the common population across the region. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period attributed to the prevalence of respiratory diseases, and the demand for resources in the region.

Segments

Segments Covered in the Report
The global pulse oximeter market has been segmented on the basis of

End-users

Homecare
Hospitals & Other Healthcare Facilities

Types

Handheld
Fingertip
Others

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Nihon Kohden Corp.
Spacelabs Healthcare
Medtronic plc
CareFusion Corp.
Welch Allyn, Inc.
GE Healthcare
Philips Healthcare
Masimo
CAS Medical Systems, Inc.
Opto Circuits India Ltd.
Nonin Medical, Inc.
Smiths Medical, Inc.
Meditech Equipment Co., Ltd.

Competitive Landscape

Key players competing in the global pulse oximeter market are Nihon Kohden Corp.; Spacelabs Healthcare; Medtronic plc; CareFusion Corp.; Welch Allyn, Inc.; GE Healthcare; Philips Healthcare; Masimo; CAS Medical Systems, Inc.; Opto Circuits India Ltd.; Nonin Medical, Inc.; Smiths Medical, Inc.; and Meditech Equipment Co., Ltd. As part of their efforts to expand their client base and acquire a competitive advantage over competitors, manufacturers operating in the market have adopted various strategic initiatives, such as partnerships, collaborations, and mergers & acquisitions. Moreover, companies are focusing on investment in R&D for development and launching of new products to maintain their competitive positions in the market.

For instance, in in January 2020, Vyaire Medical released the MX40, which is a reusable telemetry adaptor across the United States. This item offers a SpO2 port, which is compatible with Masimo LNCS pulse oximeters as well as 9 pin pulse oximeter sensors by Philips.

Pulse Oximeter Market by key players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Pulse Oximeter Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Pulse Oximeter Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Pulse Oximeter Market - Supply Chain
  4.5. Global Pulse Oximeter Market Forecast
     4.5.1. Pulse Oximeter Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Pulse Oximeter Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Pulse Oximeter Market Absolute $ Opportunity
5. Global Pulse Oximeter Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Pulse Oximeter Market Size and Volume Forecast by Types
     5.3.1. Handheld
     5.3.2. Fingertip
     5.3.3. Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Pulse Oximeter Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Pulse Oximeter Market Size and Volume Forecast by End Users
     6.3.1. Homecare
     6.3.2. Hospitals & Other Healthcare Facilities
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Pulse Oximeter Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Pulse Oximeter Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Pulse Oximeter Demand Share Forecast, 2019-2026
8. North America Pulse Oximeter Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Pulse Oximeter Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Pulse Oximeter Market Size and Volume Forecast by Types
     8.4.1. Handheld
     8.4.2. Fingertip
     8.4.3. Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Pulse Oximeter Market Size and Volume Forecast by End Users
     8.7.1. Homecare
     8.7.2. Hospitals & Other Healthcare Facilities
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Pulse Oximeter Demand Share Forecast, 2019-2026
9. Latin America Pulse Oximeter Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Pulse Oximeter Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Pulse Oximeter Market Size and Volume Forecast by Types
     9.4.1. Handheld
     9.4.2. Fingertip
     9.4.3. Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Pulse Oximeter Market Size and Volume Forecast by End Users
     9.7.1. Homecare
     9.7.2. Hospitals & Other Healthcare Facilities
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Pulse Oximeter Demand Share Forecast, 2019-2026
10. Europe Pulse Oximeter Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Pulse Oximeter Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Pulse Oximeter Market Size and Volume Forecast by Types
     10.4.1. Handheld
     10.4.2. Fingertip
     10.4.3. Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Pulse Oximeter Market Size and Volume Forecast by End Users
     10.7.1. Homecare
     10.7.2. Hospitals & Other Healthcare Facilities
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Pulse Oximeter Demand Share Forecast, 2019-2026
11. Asia Pacific Pulse Oximeter Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Pulse Oximeter Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Pulse Oximeter Market Size and Volume Forecast by Types
     11.4.1. Handheld
     11.4.2. Fingertip
     11.4.3. Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Pulse Oximeter Market Size and Volume Forecast by End Users
     11.7.1. Homecare
     11.7.2. Hospitals & Other Healthcare Facilities
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Pulse Oximeter Demand Share Forecast, 2019-2026
12. Middle East & Africa Pulse Oximeter Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Pulse Oximeter Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Pulse Oximeter Market Size and Volume Forecast by Types
     12.4.1. Handheld
     12.4.2. Fingertip
     12.4.3. Others
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Pulse Oximeter Market Size and Volume Forecast by End Users
     12.7.1. Homecare
     12.7.2. Hospitals & Other Healthcare Facilities
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Pulse Oximeter Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Pulse Oximeter Market: Market Share Analysis
  13.2. Pulse Oximeter Distributors and Customers
  13.3. Pulse Oximeter Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Nihon Kohden Corp.
     13.4.2. Spacelabs Healthcare
     13.4.3. Medtronic plc
     13.4.4. CareFusion Corp.
     13.4.5. Welch Allyn, Inc.
     13.4.6. GE Healthcare
     13.4.7. Philips Healthcare
     13.4.8. Masimo

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