Pulse Oximeter Market by Product (Equipment, Sensor), Type (Portable/Table-Top Pulse Oximeters), Technology (Conventional, Connected), Age Group (Adult, Infant, Neonatal), End Users (Hospitals, Home Care, Ambulatory Care Centers) - Global Forecast to 2027

Pulse Oximeter Market by Product (Equipment, Sensor), Type (Portable/Table-Top Pulse Oximeters), Technology (Conventional, Connected), Age Group (Adult, Infant, Neonatal), End Users (Hospitals, Home Care, Ambulatory Care Centers) - Global Forecast to 2027

The global pulse oximeter market is projected to reach USD 4.3 billion by 2027 from USD 2.8 billion in 2022, at a CAGR of 8.8% during the forecast period. Growth in this market is majorly driven by the increasing number of surgical procedures; the growing geriatric population and increasing incidence of chronic diseases.

Based on product, the equipment segment is expected to register the highest CAGR during the forecast period.

Based on the product, the pulse oximeters market is segmented into sensors and equipment. The equipment segment is expected to register highest growth during the forecast period. The growth of this segment is attributed to the increasing demand for fingertip pulse oximeters for home monitoring, and the increasing number of surgeries requiring patient monitoring devices.

Based on type, the bedside/ tabletop pulse oximeter segment accounted for the largest share of the pulse oximeters market

Based on type, the pulse oximeters market is segmented into portable pulse oximeters and bedside/tabletop pulse oximeters. The market for portable pulse oximeters is further segmented into fingertip, handheld, and wearable pulse oximeters. In 2021, the bedside/ tabletop pulse oximeters segment accounted for the largest share of the pulse oximeters market. The large share of this market is attributed to increasing adoption of bedside pulse oximeters for patient monitoring in home-care settings, and long-term care facilities.

Based on technology, the conventional devices segment accounted for largest market share of the pulse oximeters market

Based on technology, the pulse oximeters market is segmented into conventional and connected devices. In 2021, the conventional devices segment accounted for largest market share of the pulse oximeters market. This can be attributed to the adoption of wired pulse oximeters in conjunction with other patient monitoring device in healthcare settings.

Based on age group, the pediatric pulse oximeter segment is expected to register the highest CAGR during the forecast period

Based on age group, the pulse oximeters market is segmented into adults (18 and over) and pediatrics (neonates under 1 month, infants between 1 month and 2 years of age, children between 2 and 12 years, and adolescents between 12 and 16 years). The pediatric segment is expected to register the highest growth during the forecast period. This can be attributed to increasing cases of congenital heart diseases and other respiratory diseases leading to hospital admissions and rising surgical procedures for children.

Based on end user, the homecare settings segment is expected to register the highest CAGR during the forecast period.

Based on end users, the pulse oximeters market has been segmented into hospitals, home care settings, and ambulatory care centers. The home care settings segment is expected to register the highest growth during the forecast period. The large share of this segment can be attributed to the widespread adoption of portable pulse oximeters for remote patient monitoring.

North America is expected to account for the largest share of the pulse oximeters market in 2020

In 2021, North America accounted for the largest share of the pulse oximeters market, followed by Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The surge in the geriatric population in the coming years and the subsequent increase in hospitalizations, and technological advancements are the factors driving the growth of the pulse oximeters market in the region.

The break of primary participants was as mentioned below:

By Company Type – Tier 1–35%, Tier 2–45%, and Tier 3–20%

By Designation – C-level–35%, Director-level–25%, Others–40%

By Region – North America–40%, Europe–30%, Asia Pacific–20%, Latin America- 5%, Middle East and Africa–5%

Key players in the Pulse Oximeters market

The key players operating in the pulse oximeters market are Medtronic plc (Ireland), Masimo Corporation (US), Koninklijke Philips N.V. (Netherlands), Nonin Medical Inc. (US), Nihon Kohden Corporation (Japan), GE Healthcare (US), CONTEC MEDICAL SYSTEMS CO., LTD. (China), ICU Medical, Inc. (US), Drägerwerk AG & Co. KGaA (Germany), OSI Systems, Inc. (Spacelabs Healthcare) (US), Honeywell International Inc. (US), MEDITECH Equipment Co., Ltd. (China), Medline Industries, LP (US), ChoiceMMed (China), Dr Trust (US), Shanghai Berry Electronic Technology Co., Ltd. (China), Promed Group. Co., Ltd. (China), Tenko Medical System Corp. (US), HUM GmbH (Germany), Beurer GmbH (Germany), Shenzhen Aeon Technology Co., Ltd. (China), Bitmos GmbH (Germany), Tecno-Gaz S.P.A. (Italy), Shenzen Unicare Electronic Co., Ltd (Germany), and Visionflex Pty., Ltd (Australia).

Research Coverage:

The report analyzes the pulse oximeters market and aims at estimating the market size and future growth potential of this market based on various segments such as product, type, technology, age group, end user, and region. The report also includes a product portfolio matrix of various pulse oximetry products available in the market. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.

Reasons to Buy the Report

The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.

This report provides insights into the following pointers:

Market Penetration: Comprehensive information on product portfolios offered by the top players in the global pulse oximeter market. The report analyzes this market by product, type, technology, age group and end user.

Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global pulse oximeters market

Market Development: Comprehensive information on the lucrative emerging markets by product, type, technology, age group, and end user

Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global pulse oximeter market

Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global pulse oximeter market."