What Is The Current and Historic Market Size Analysis Of The Pulse Oximeter Market?
The pulse oximeter market has seen considerable growth due to a variety of factors.
•The market size for pulse oximeters has been experiencing consistent growth over the past few years. The market value, which is projected to increase from $2.64 billion in 2024 to $2.75 billion in 2025, corresponds to a compound annual growth rate (CAGR) of 4.3%.
Factors that have influenced this growth trend over the historical period include a surge in the aging population, an increase in respiratory illnesses, the advancement of hospital and healthcare infrastructure, raised awareness and education, and the global pandemic's effects.
What Are The Predictions for The Pulse Oximeter Market Size In The Coming Years?
The pulse oximeter market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, a significant expansion is anticipated in the pulse oximeter market. The estimations indicate that by 2029, it will burgeon to "$3.54 billion with a compound annual growth rate (CAGR) of 6.5%.
The surge in this prediction period is linked to several factors such as incorporation with wearable gadgets, preparedness for global health crises, initiatives taken by the government in healthcare, constant observation of health and wellness and readiness for worldwide health crises. Key trends expected during this forecast period encompass integration with telehealth, developments in technology, heightened focus on home healthcare, intelligent features and interconnectivity, and distant patient monitoring for chronic illnesses.
What Are The Essential Drivers Behind The Growth Of The Pulse Oximeter Market?
The escalating incidence of diseases affecting the respiratory system is anticipated to drive the expansion of the pulse oximeter market in the future. Airway and lung disorders that impede human respiration fall under respiratory diseases. The escalating incidence of these diseases is primarily fueled by rising air pollution levels, dust exposure, an aging demographic, and smoking habits. In these instances, pulse oximeters are instrumental in identifying shifts in oxygen saturation levels ahead of visible symptoms. For example, in December 2023, the National Center for Biotechnology Information, a governmental agency in the U.S., predicted the number of COPD cases would ascend by 112 million, reaching a cumulative figure of 592 million by 2050, accounting for 9.5% of the eligible population. Consequently, the increased incidence of respiratory diseases is pushing the growth of the pulse oximeter market.
How Is The Global Pulse Oximeter Market Divided Into Key Segments?
The pulse oximeter market covered in this report is segmented –
1) By Product Type: Fingertip, Handheld, Wrist-worn, Table-Top And Bedside
2) By Technology: Conventional, Connected
3) By Age Group: Adult, Pediatric
4) By End-User: Hospitals And Clinics, Ambulatory Surgical Centers, Home Healthcare
Subsegments:
1) By Fingertip: Adult Fingertip Oximeters, Pediatric Fingertip Oximeters
2) By Handheld: Single-Patient Handheld Oximeters, Multi-Patient Handheld Oximeters
3) By Wrist-Worn: Continuous Monitoring Wrist Oximeters, Spot-Check Wrist Oximeters
4) By Table-Top And Bedside: Portable Table-Top Oximeters, Stationary Bedside Oximeters
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What Trends Are Reshaping The Future Of The Pulse Oximeter Market?
Prominent businesses in the pulse oximeter market are directing their attention toward technological advancements, such as pulse oximeters with cellular connection, to improve patient tracking and data gathering. A pulse oximeter with cellular connection is a specific type of pulse oximeter that possesses cellular link features, enabling it to send data wirelessly using cellular networks (like 4G or 5G) to healthcare professionals or cloud-based health systems. For example, Prevounce Health LLC, an American remote monitoring platform developer, rolled out the Pylo OX1-LTE, a pulse oximeter with cellular connectivity, in August 2024, specifically for remote patient tracking (RPM). This product, targeting individuals with persistent respiratory disorders like COPD and asthma, and those suffering from COVID-19, delivers reliable cellular link, precise SpO2, and pulse rate metrics, and possesses a user-oriented design with a vibrant OLED screen. This gadget synchronizes effortlessly with Prevounce's remote healthcare management system and is capable of connecting with third-party health applications via the Pylo cloud API.
Who Are the Key Players in the Pulse Oximeter Market?
Major companies operating in the pulse oximeter market include:
• Medtronic Plc
• GE Healthcare
• Masimo Corporation
• Nonin Medical Inc.
• Nihon Kohden Corporation
• Koninklijke Philips NV
• Philips Healthcare
• Contec Medical Systems Co. Ltd.
• Omron Corporation
• Carefusion Corp.
• CAS Medical Systems Inc.
• Opto Circuits India Ltd.
• Welch Allyn Inc.
• Spacelabs Healthcare
• Meditech Equipment Co. Ltd.
• Vyaire Medical Inc.
• Beurer GmbH
• Drägerwerk AG & Co. KGaA
• ICU Medical Inc.
• Smiths Medical
• Mindray Medical International Limited
• Criticare Systems Inc.
• BPL Medical Technologies
• ChoiceMMed America Co. Ltd.
• Beijing Choice Electronic Technology Co. Ltd.
• Creative Medical
• Edan Instruments Inc.
• Heal Force Bio-Meditech Holdings Limited
• Mediana Co. Ltd.
• Medlab Clinical Ltd.
What are the Regional Insights into the Pulse Oximeter Market?
North America was the largest region in the pulse oximeter market in 2024. The regions covered in the pulse oximeter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
