Pulse Oximeters Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors Of Pulse Oximeter Market
The pulse oximeter market size was valued at USD 2.24 billion in 2023, and the market is now projected to grow from USD 2.34 billion in 2024 to USD 3.45 billion by 2032, exhibiting a CAGR of 4.9% during the forecast period of 2024-2032.
The demand for pulse oximeters surged at some point of the COVID-19 pandemic in 2020, widely utilized in hospitals and home care to display COVID-19 sufferers blood oxygen degrees. However, after the pandemic in 2022 and 2023, the marketplace noticed a decline in price due to decreased demand for those gadgets.
Governments in diverse nations have mandated non-stop monitoring of oxygen saturation degrees for patients with persistent respiration disorders. Guidelines and tips on pulse oximeters had been implemented in both advanced and developing nations. Additionally, the increasing use of oximeters for anesthesia tracking all through surgical procedures in advanced international locations has similarly fueled marketplace boom.
The COVID-19 pandemic raised enormous recognition about pulse oximeters, leading to accelerated demand. Beyond COVID-19, those devices are critical for monitoring blood oxygen stages in sufferers with acute respiratory issues, congestive coronary heart failure, and other illnesses. The growing incidence of those situations keeps to power market increase for pulse oximeters.
Comprehensive Analysis Of Pulse Oximeter Market
The pulse oximeter market growth is rising at an exponential rate due to its market segmentation. This marketplace enlargement successfully affords an in-depth local exam thinking about the dominant deliver and demand forces that effect the enterprise. These segmentations are methodically segregated by product type analysis, by technology analysis, by age group analysis and by end-user analysis. By product type analysis include, fingertip oximeters, handheld oximeters, tabletop oximeters, and others. By technology analysis include, conventional and smart. By age group analysis include adults and pediatrics. By end-user analysis include, hospitals and ambulatory surgical centers, clinics, home healthcare, and others.
The North America region lead the pulse oximeter market share by benefitting a market size of USD 0.91 billion in 2023 due to the speedy adoption of Wi-Fi Pulse Oximeter and the growing product utilization in domestic healthcare is predicted to make contributions to the marketplace boom inside the area.
The pinnacle players inside the market play a critical function in the enterprise assuring market growth and placing marketplace requirements. These players include, GE Healthcare (U.S.), Masimo (U.S.), Vyaire (U.S.), Nonin (U.S.), Medtronic (Ireland), Koninklijke Philips N.V. (Netherlands), Smiths Medical (ICU Medical Inc.) (U.S.), Beurer (Germany), and Nihon Kohden Corporation (Japan). These market players provide a level-playing competitive landscape.
In February 2024, Masimo acquired the Food and Drug Administration (FDA) acclaim for its pulse oximeter, MightySat Fingertip.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 4.9% from 2024-2032
Unit Value (USD Billion)
Segmentation By Product Type
Fingertip Oximeters
Handheld Oximeters
Tabletop Oximeters
Others
By Technology
Conventional
Smart
By Age Group
Adults
Pediatrics
By End-user
Hospitals and Ambulatory Surgical Centers
Clinics
Home Healthcare
Others
By Geography
North America (By Product Type, By Technology, By Age Group, By End-User, By Country)
U.S. (By Technology)
Canada (By Technology)
Europe (By Product Type, By Technology, By Age Group, By End-User, By Country)
U.K. (By Technology)
Germany (By Technology)
France (By Technology)
Italy (By Technology)
Scandinavia (By Technology)
Rest of Europe (By Technology)
Asia Pacific (By Product Type, By Technology, By Age Group, By End-User, By Country)
Japan (By Technology)
China (By Technology)
India (By Technology)
Australia (By Technology)
Southeast Asia (By Technology)
Rest of Asia Pacific (By Technology)
Latin America (By Product Type, By Technology, By Age Group, By End-User, By Country)
Brazil (By Technology)
Mexico (By Technology)
Rest of Latin America (By Technology)
Middle East & Africa (By Product Type, By Technology, By Age Group, By End-User, By Country)
GCC (By Technology)
South Africa (By Technology)
Rest of Middle East & Africa (By Technology)
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