Pulse Oximeters Market Size, Share, Industry Trends and Forecast to 2030

Pulse Oximeters Market Size & CAGR in 2021

The global pulse oximeters market is estimated to have a Compound Annual Growth Rate (CAGR) of 8.2% from 2021 to 2028. This growth is projected to result in the market reaching a value of USD 2.5 billion by the end of 2028.

COVID-19 Impact on the Pulse Oximeters Market

The COVID-19 pandemic has had a significant impact on the pulse oximeters market. With the increased focus on monitoring oxygen levels in patients infected with the virus, the demand for pulse oximeters skyrocketed during the pandemic. This surge in demand led to shortages in supply and manufacturers ramping up production to meet the needs of healthcare facilities and the general public.

Pulse Oximeters Dynamics

The pulse oximeters market is driven by factors such as the increasing prevalence of respiratory diseases, advancements in technology leading to the development of more accurate devices, and the growing awareness about the importance of monitoring oxygen levels in patients. Additionally, the rise in telemedicine services has also contributed to the growth of the market, as remote monitoring of patients' vital signs becomes more common.

Segments and Related Analysis

The pulse oximeters market can be segmented based on technology type, product type, end-user, and region. The key technology types include fingertip pulse oximeters, handheld pulse oximeters, and wrist-worn pulse oximeters. On the other hand, product types encompass portable pulse oximeters and tabletop pulse oximeters. The primary end-users of pulse oximeters include hospitals, clinics, ambulatory surgical centers, and homecare settings.

By Region Analysis

Regionally, North America held the largest market share in the pulse oximeters market in 2021, followed by Europe and the Asia Pacific. The high adoption rate of advanced medical devices, well-established healthcare infrastructure, and increasing investments in healthcare technology are some of the key factors driving the growth of the market in these regions.

Key Market Players and Competitive Landscape

Some of the key players in the pulse oximeters market include Medtronic, Nonin Medical Inc., Masimo Corporation, Smiths Group plc, and Koninklijke Philips N.V. These companies are focusing on strategic partnerships, product launches, and acquisitions to expand their market presence and gain a competitive edge.

Recent Happenings in the Pulse Oximeters Market

In recent news, Medtronic announced the launch of a new wireless pulse oximeter that allows for continuous monitoring of patients' oxygen levels without the need for wired connections. This innovation is expected to revolutionize patient monitoring in healthcare settings. Additionally, Nonin Medical Inc. unveiled a new compact fingertip pulse oximeter with enhanced accuracy and durability, catering to the increasing demand for portable monitoring devices.