Pulse Oximeter Market Size, Share & Trends Analysis Report By Component, By Type (Portable Pulse Oximeter, Tabletop/Bed Side Pulse Oximeter), By Age Group, By End Use, By Region, And Segment Forecasts, 2024 - 2030

Pulse Oximeter Market Size, Share & Trends Analysis Report By Component, By Type (Portable Pulse Oximeter, Tabletop/Bed Side Pulse Oximeter), By Age Group, By End Use, By Region, And Segment Forecasts, 2024 - 2030


Pulse Oximeter Market Growth & Trends

The global pulse oximeter market size is expected to reach USD 5.3 billion by 2030, registering a CAGR of 6.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing prevalence of respiratory and cardiovascular diseases globally is anticipated to boost the demand for continuous monitoring devices, such as pulse oximeters. According to the National Center for Health Statistics, in 2022, 4.6% of the U.S. population over 18 years suffered from emphysema, COPD, or chronic bronchitis. Moreover, factors such as technological advancements, strategic partnerships among key players, and the rising adoption of home healthcare & remote patient monitoring are driving the pulse oximeters market growth.

Furthermore, market conglomerates are forming strategic alliances to penetrate untapped markets and establish their global presence. These partnerships aim to offer precise, real-time health data, bolster patient involvement, and facilitate clinical decision-making, thereby enhancing patient care quality as well as streamlining healthcare services. For instance, in January 2023, Royal Philips and Masimo expanded their partnership to improve patient monitoring capabilities in home telehealth settings by deploying the Masimo W1, an advanced health-tracking device.

“Expanding our partnership with Philips in this way is a win-win for patients and clinicians everywhere, and is an important part of our multi-year plan to bring the best of hospital monitoring to the home while continuing to improve access to quality hospital care.”

- Bilal Muhsin, Chief Operating Officer, Masimo

Moreover, wearable pulse oximeters like socks provide continuous monitoring, making them ideal for tracking an infant’s SpO2 levels. These devices offer comfort and convenience, facilitating regular use. For instance, in June 2023, Owlet received U.S. FDA clearance for BabySat, an advanced pulse oximetry medical device. This device, featuring an innovative, wire-free sock design, continuously monitors an infant's heart rate and oxygen levels (SpO2) and alerts parents if these measurements deviate from established norms.

In developed countries, there is a rising trend of surgical patients requiring intensive postoperative monitoring. Traditionally managed in post-anesthesia or surgical Intensive Care Units (ICUs), resource constraints often lead to premature transfer of patients to general wards, where continuous monitoring may be inadequate. Inadequate monitoring in general wards, where nurse-to-patient ratios can reach 1:20 during nighttime, increases the risk of complications going unnoticed. Studies indicate that postoperative complications contribute significantly to hospital mortality rates. With recognition of the risk of undiagnosed hypoxemia and the impact of postoperative complications on patient outcomes, the demand for pulse oximeters to enhance monitoring and mitigate risks during postoperative care is increasing.

Furthermore, the adoption of pulse oximeters is expected to increase in outpatient settings, such as ambulatory surgical centers and physician offices, due to their convenience and the growing importance of patient monitoring. These facilities are opting for portable, handheld models to enable continuous monitoring without restricting patient mobility, aligning with the shift toward value-based care that emphasizes effective and cost-efficient monitoring solutions.

Pulse Oximeter Market Report Highlights
  • Based on component, the monitor segment dominated the market and held a revenue share of 65.0% in 2023. The launch of advanced pulse oximeter monitors equipped with Organic Light-emitting Diode (OLED), Liquid Crystal Display (LCD), and High-Definition (HD) displays are expected to drive the segment growth over the forecast period. For instance, in July 2024, Santa Medical introduced the latest version of its premium OLED SM-1100 Silver Finger Pulse Oximeter, Generation 2, with strong battery performance.
  • Based on type, the tabletop/bedside pulse oximeter segment held the largest share of 58.2% in 2023. This can be attributed to the integration of tabletop/bedside pulse oximeters in hospitals and healthcare facilities. For instance, in June 2023, Koninklijke Philips N.V. initiated a significant rollout of the Philips SureSigns VS4 integrated with IntelliBridge Enterprise and CareAware at Florida Hospital, a medical facility managed by Adventist Health System with 2,247 beds.
  • In terms of age group, the adult segment held the largest revenue share of 62.6% in 2023. The segment growth can be attributed to the growing geriatric population and increasing incidence of Chronic Obstructive Pulmonary Disease (COPD) among this set of age group. According to the American Lung Association’s 2022 insights, around 1.7 million adults, or 4.6% of the adult population, were diagnosed with COPD, including conditions such as chronic bronchitis or emphysema.
  • Based on end use, the hospitals segment held the largest revenue share of 42.8% in 2023. This can be attributed to the extensive adoption of pulse oximetry for routine patient vital sign monitoring across global healthcare facilities. Its efficacy in detecting potential hypoxemia or hyperoxemia makes it integral in critical care environments, including surgical units, postoperative recovery, intensive care units, emergency departments, and general wards.
  • North America dominated the market with a share of 39.4% in 2023. Growth in the region can be attributed to the increasing prevalence of respiratory diseases, such as hypoxemia, COPD, and asthma. In addition, the increasing number of new product launches and partnerships by notable players to increase their reach further is expected to contribute to market growth.
  • The market is moving towards fragmentation owing to the presence of several players. This is expected to intensify the competition in the coming years. Key companies are adopting diverse strategies, such as new product developments, collaborations, and mergers & acquisitions, to strengthen their market positions. For instance, in February 2024, Masimo unveiled that the FDA approved the MightySat Medical, marking it as the inaugural and sole fingertip pulse oximeter for medical use. Consumers can purchase Over-the-Counter (OTC) without needing a prescription.
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Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.1.1 Market Definition
1.1.2 Segment Definition
1.1.2.1 Component Segment
1.2 Regional Scope
1.2.1 Estimates And Forecast Timeline
1.3 Objectives
1.3.1 Objective - 1
1.3.2 Objective - 2
1.3.3 Objective - 3
1.4 Model Details
1.4.1 Consensus-based Estimates & Forecasting
1.4.1.1 Commodity Flow Analysis
1.4.1.2 Industry Sources: Related References (For Validation)
1.4.1.2.1 Segment-level Company Revenue Estimates: A Key Example
1.4.1.3 Country & Segment Based Share Calculation
1.4.1.4 Pulse Oximeter Market: Cagr Calculation
1.5 List Of Secondary Sources
1.6 List Of Abbreviations
Chapter 2 Executive Summary
2.1 Global Pulse Oximeter Market Snapshot
2.2 Global Pulse Oximeter Market Segment Snapshot (Component & Type)
2.3 Global Pulse Oximeter Market Segment Snapshot (Age Group & End Use)
2.4 Global Pulse Oximeter Market Competitive Landscape Snapshot
Chapter 3 Pulse Oximeter Market Variables, Trends & Scope - Industry Outlook
3.1 Pulse Oximeter Market Dynamics
3.1.1 Market Driver Analysis
3.1.1.1 Technological Advancements In Pulse Oximeters
3.1.1.2 Strategic Partnerships In Pulse Oximetry Market
3.1.1.3 Rising Respiratory Diseases And Growing Application In Postoperative Care (General Market Driver)
3.1.2 Market Restraint & Challenges Analysis
3.1.2.1 Accuracy Concerns Due To Skin Pigmentation
3.1.2.2 Product Recalls
3.3 Pulse Oximeter Market Analysis Tools: Porters Five Forces
3.4 Pestel Analysis By Factors (Political, Economic, Social, Technology, Environmental, And Legal)
3.5 Covid-19 Impact Analysis
3.5.1 Covid-19 Impact On Notable Players In The Pulse Oximeter Market
3.5.1.1 Medtronic
3.5.1.2 Masimo
3.5.1.3 Koninklijke Philips N.v.
3.5.1.4 Nihon Kohden Corporation
3.5.1.5 Icu Medical, Inc.*
3.5.1.6 Osi Systems, Inc.
3.5.1.7 Drägerwerk Ag & Co. Kgaa
3.5.1.8 Contec Medical Systems Co., Ltd
3.5.1.9 Nonin
Chapter 4 Pulse Oximeter Market: Component Segmentation Estimates & Trend Analysis
4.1 Segment Dashboard
4.2 Pulse Oximeter Market: Component Analysis, 2023 & 2030 (USD Million)
4.3 Pulse Oximeter Market, By Component, 2018 - 2030 (USD Million)
4.3.1 Monitors
4.3.1.1 Market Insights
4.3.1.2 Competitive Insights & Related Market Developments
4.3.1.3 Monitors Market Estimates And Forecasts, 2018 - 2030 (USD Million)
4.3.2 Sensors
4.3.2.1 Market Insights
4.3.2.2 Competitive Insights & Related Market Developments
4.3.2.3 Sensors Market Estimates And Forecasts, 2018 - 2030 (USD Million)
Chapter 5 Pulse Oximeter Market: Type Segmentation Estimates & Trend Analysis
5.1 Segment Dashboard
5.2 Pulse Oximeter Market: Type Analysis, 2023 & 2030 (USD Million)
5.3 Pulse Oximeter Market, By Type, 2018 - 2030 (USD Million)
5.3.1 Portable Pulse Oximeter
5.3.1.1 Portable Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
5.3.1.2 Fingertip Pulse Oximeter
5.3.1.2.1 Market Insights
5.3.1.2.2 Competitive Insights & Related Market Developments
5.3.1.2.3 Fingertip Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
5.3.1.3 Handheld Pulse Oximeter
5.3.1.3.1 Market Insights
5.3.1.3.2 Handheld Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
5.3.1.4 Wearable Pulse Oximeter
5.3.1.4.1 Market & Competitive Insights
5.3.1.4.2 Wearable Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
5.3.2 Tabletop/bedside Pulse Oximeter
5.3.2.1 Market Insights & Related Market Developments
5.3.2.2 Tabletop/bedside Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
Chapter 6 Pulse Oximeter Market: Age Group Segmentation Estimates & Trend Analysis
6.1 Segment Dashboard
6.2 Pulse Oximeter Market: Age Group Analysis, 2023 & 2030 (USD Million)
6.3 Pulse Oximeter Market, By Age Group, 2018 - 2030 (USD Million)
6.3.1 Adult
6.3.1.1 Market Insights & Related Developments
6.3.1.2 Adult Market Estimates And Forecasts, 2018 - 2030 (USD Million)
6.3.2 Pediatric
6.3.2.1 Market Insights & Related Developements
6.3.2.2 Pediatric Market Estimates And Forecasts, 2018 - 2030 (USD Million)
Chapter 7 Pulse Oximeter Market: End Use Estimates & Trend Analysis 2018 - 2030 (Revenue, USD Million)
7.1 Segment Dashboard
7.2 Pulse Oximeter Market: End-use Analysis, 2023 & 2030 (USD Million)
7.3 Pulse Oximeter Market, By End Use, 2018 - 2030 (USD Million)
7.3.1 Hospitals
7.3.1.1 Market Insights & Related Developments
7.3.1.2 Hospitals Market Estimates And Forecasts, 2018 - 2030 (USD Million)
7.3.2 Home Care
7.3.2.1 Market Insights & Related Developements
7.3.2.2 Home Care Market Estimates And Forecasts, 2018 - 2030 (USD Million)
7.3.3 Outpatient Facilities
7.3.3.1 Market Insights & Related Developments
7.3.3.2 Outpatient Facilities Market Estimates And Forecasts, 2018 - 2030 (USD Million)
7.3.4 Others
7.3.4.1 Market Insights & Related Developements
7.3.4.2 Others Market Estimates And Forecasts, 2018 - 2030 (USD Million)
Chapter 8 Regional Estimates & Trend Analysis, By Segment, 2018- 2030 (Revenue, USD Million)
8.1 Regional Market Snapshot
8.2 Pulse Oximeter Market, By Region, 2023 & 2030, USD Million
8.3 North America
8.3.1 Regulatory Framework
8.3.2 North America Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.3.3 U.S.
8.3.3.1 U.S. Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.3.4 Canada
8.3.4.1 Canada Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.3.5 Mexico
8.3.5.1 Mexico Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.4 Europe
8.4.1 Regulatory Framework
8.4.2 Europe Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.4.3 UK
8.4.3.1 UK Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.4.4 Germany
8.4.4.1 Germany Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.4.5 France
8.4.5.1 France Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.4.6 Italy
8.4.6.1 Italy Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.4.7 Spain
8.4.7.1 Spain Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.4.8 Sweden
8.4.8.1 Sweden Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.4.9 Denmark
8.4.9.1 Denmark Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.4.10 Norway
8.4.10.1 Norway Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.5 Asia Pacific
8.5.1 Regulatory Framework
8.5.2 Asia Pacific Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.5.3 China
8.5.3.1 China Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.5.4 Japan
8.5.4.1 Japan Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.5.5 India
8.5.5.1 India Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.5.6 South Korea
8.5.6.1 South Korea Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.5.7 Australia
8.5.7.1 Australia Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.5.8 Thailand
8.5.8.1 Thailand Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.6 Latin America
8.6.1 Regulatory Framework
8.6.2 Latin America Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.6.3 Brazil
8.6.3.1 Brazil Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.6.4 Argentina
8.6.4.1 Argentina Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.7 Middle East And Africa
8.7.1 Regulatory Framework
8.7.2 Middle East And Africa Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.7.3 South Africa
8.7.3.1 South Africa Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.7.4 Saudi Arabia
8.7.4.1 Saudi Arabia Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.7.5 UAE
8.7.5.1 UAE Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
8.7.6 Kuwait
8.7.6.1 Kuwait Pulse Oximeter Market Estimates And Forecasts, 2018 - 2030 (USD Million)
Chapter 9 Competitive Landscape
9.1 Company Categorization
9.3 Company Profiles
9.3.1 Participants’ Overview
9.3.1.1 Medtronic
9.3.1.2 Masimo
9.3.1.3 Koninklijke Philips N.v.
9.3.1.4 Ge Healthcare
9.3.1.5 Nonin
9.3.1.6 Nihon Kohden Corporation
9.3.1.7 Icu Medical, Inc.
9.3.1.8 Osi Systems, Inc.
9.3.1.9 Contec Medical Systems Co., Ltd
9.3.1.10 Drägerwerk Ag & Co. Kgaa
9.4 Financial Performance
9.4.1 Public Market Players
9.4.2 Private Market Players
9.5 Product Benchmarking
9.5.1 Medtronic
9.5.2 Masimo
9.5.3 Koninklijke Philips N.v.
9.5.4 Ge Healthcare
9.5.5 Nonin
9.5.6 Nihon Kohden Corporation
9.5.7 Icu Medical, Inc.
9.5.8 Osi Systems, Inc.
9.5.9 Contec Medical Systems Co., Ltd
9.5.10 Drägerwerk Ag & Co. Kgaa
9.6 Company Market Share Analysis Of Notable And Emerging Players
9.6.1 Overall Company Market Share Analysis Detials
9.6.1.1 Medtronic
9.6.1.2 Masimo
9.6.1.3 Koninklijke Philips N.v.
9.6.1.4 Ge Healthcare
9.6.1.5 Nonin
9.6.1.6 Nihon Kohden Corporation
9.6.1.7 Icu Medical, Inc.
9.6.1.8 Osi Systems, Inc.
9.6.1.9 Contec Medical Systems Co., Ltd
9.6.1.10 Drägerwerk Ag & Co. Kgaa
9.7 Strategy Mapping
9.7.1 New Product Launches
9.7.2 Mergers/acquisitions
9.7.3 Partnerships & Collaborations
9.7.4 Approvals
9.8 Notable Other Strategic Initiatives Undertaken By Market Players

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