Pulse Oximeter Market Size By Product Type (Fingertip Pulse Oximeters, Hand-held Pulse Oximeters, Wrist-worn Pulse Oximeters, Table top/Bedside Pulse Oximeters), By Technology (Conventional, Connected), By Age Group (Adult, Pediatric), By End-use (Hospita

Pulse Oximeter Market Size By Product Type (Fingertip Pulse Oximeters, Hand-held Pulse Oximeters, Wrist-worn Pulse Oximeters, Table top/Bedside Pulse Oximeters), By Technology (Conventional, Connected), By Age Group (Adult, Pediatric), By End-use (Hospitals and Clinics, Homecare), Industry Analysis Report, Regional Outlook, Application Potential, COVID-19 Impact Analysis, Competitive Market Share & Forecast, 2022 - 2030

The pulse oximeter market is likely to witness exponential growth by 2030 driven by surging prevalence of respiratory diseases across the globe. In addition, prevalent need to monitor oxygen levels in COVID-19 patients is likely to propel market growth further over the forecast timeframe.

During the coronavirus pandemic, the industry witnessed exponential growth due to an unprecedented surge in the number of COVID-19 infected people who required frequent and accurate oxygen monitoring. Moreover, major players in the industry have been engaging in product innovation, along with partnerships & collaborations, to enhance their business presence, thereby supplementing market growth.

For instance, in May 2022, Masimo Corporation, a leading medical technology company, announced the findings of a study published in the American Journal of Emergency Medicine. The study found that Masimo PVi could be employed as a rapid, non-inclusive, and objective tool to guide emergency room triage decisions for pediatric patients with ORD (obstructive respiratory disease), such as asthma attacks.

The pulse oximeter market has been bifurcated in terms of age group, product type, end-use, technology, and region. With regards to product type, the market has been divided into wrist-worn pulse oximeters, hand-held pulse oximeters, table top/bedside pulse oximeters, and fingertip pulse oximeters. In 2021, the hand-held pulse oximeters segment garnered around $493 million in revenue and is anticipated to grow at a CAGR of about 4.5% through the analysis period owing to rising instances of chronic obstructive pulmonary diseases (COPD) across the world.

Based on technology, the pulse oximeter market has been categorized into connected and conventional. The conventional segment is anticipated to expand at around 3.8% CAGR over the assessment timeline as a result of increased adoption of conventional pulse oximeters as they aid in the diagnosis of hypoxia, a commonly observed condition in acute respiratory diseases and in the COVID-19 infection.

In terms of age group, the pulse oximeter market has been classified into adult and pediatric. The pediatric segment accounted for a substantial market share in 2021 and is projected to reach a valuation of nearly $964 million by 2030. This growth is attributed to mounting incidences of congenital heart diseases in children.

With reference to end-use, the market has been segmented into homecare, hospitals and clinics, and others. The hospital and clinics segment held a lion’s share in the market in 2021 and is contemplated to witness prominent growth to reach over $1,747 million in revenue by the end of the review period. Factors like the availability of highly skilled surgeons & nurses that emphasize the delivery of quality patient management in chronic respiratory disorders are slated to augment segmental growth.

From the regional point of view, the North America pulse oximeter market was valued at more than $901 million in 2021. The regional market is projected to expand steadily up to 2030 due to the presence of major market players in the region, along with technological advancements in pulse oximeters.