Pulse oximeter is a non-invasive device used for monitoring oxygen saturation level in blood. It is a small, clip-like device that is attached to finger or earlobe. It is mostly used in intensive care, operating, emergency care, and patient at high altitude for the assessment of patient’s oxygenation to determine if there is need for supplemental oxygen. Further, pulse oximeters market are useful for patients with cardiac problem, respiratory problems, and chronic obstructive pulmonary diseases.
The growing prevalence of the respiratory diseases is related to the decrease in the size of the upper airway lumen with increasing age of individuals. A large percentage of population suffers from various types of respiratory diseases globally. Smoking, genetic factors, and infections are among the common factors causing respiratory diseases. Chronic obstructive pulmonary disease (COPD), sleep apnea, cardiac arrhythmia, ischemic conditions, diabetes, hypertension, and asthma are among the medical conditions exerting significant burden on public healthcare system in various countries. As per the American Lung Association, COPD is the third leading cause of death in the US, wherein more than 16.4 million people are diagnosed with the condition. In addition, as per the US Department of Health and Human Services, ~25 million people in the US had asthma in 2019, which is one of the world’s most common respiratory diseases. The patients suffering from these respiratory disorders commonly experience difficulty in breathing and oxygen shortage. A pulse oximeter provides a non-invasive and safe method for the measurement of oxygen saturation.
The increasing number of COVID-19 cases worldwide is also boosting the demand for pulse oximeters. The continuous monitoring of respiratory parameters is one of the prime stages in the treatment of COVID-19 patients. Therefore, for the accurate management and treatment of COVID-19 cases, healthcare professionals are dependent on pulse oximeters and other multi-parameter monitors. Moreover, different types of pulse oximeter devices are being widely used for routine monitoring at home.
In terms of type, the fingertip pulse oximeters segment held the largest share of the pulse oximeters market in 2019 and is expected to continue its dominance and register a higher CAGR in the market during the forecast period.
Based on sensor type, the global pulse oximeters market is segmented into reusable, and disposable. The reusable segment held the largest share of the market in 2019 and is expected to register the highest CAGR during the forecast period. The growth can be ascribed to increasing COVID-19 patient worldwide.
Based on end user, the global pulse oximeters market is segmented into hospitals, clinics, and others. The clinics segment held the largest share of the market in 2019, and others is expected to register the highest CAGR during the forecast period.
A pulse oximeter is a small, lightweight device to monitor the amount of oxygen carried in the body. Fingertip pulse oximeters are non-invasive, easy to use and compact in size, which makes them a preferred option for infants and neonates. It attaches to fingertip, and sends two wavelengths of light to measure the pulse rate and oxygen level. Once the assessment is completed, the screen displays the percent of oxygen and current pulse rate. People with heart or breathing problems are dependent on finger pulse oximeters that help them manage these conditions. For example, patients with asthma can use oximeters to assess the severity of attacks. As per the CDC, in the US around 19.2 million adults have asthma. Accurate pulse rate and SpO2 readings are particularly important for patients who are experiencing frequent drops in oxygen levels.
Players operating in the pulse oximeters market adopt collaboration and partnership strategies to meet demands of end users through the introduction of technologically advanced offerings, and these strategies significantly support the growth of the market.
The regional trends and factors influencing the Pulse Oximeters Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Pulse Oximeters Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 1.89 Billion |
| Market Size by 2027 | US$ 3.69 Billion |
| Global CAGR (2019 - 2027) | 8.6% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Pulse Oximeters Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Pulse Oximeters Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The List of Companies - Pulse Oximeters Market
The inaccuracies in pulse oximeter readings due to several factors is the significant factor that will hinder the pulse oximeters market growth.
The global neuromodulation market is being driven by factors such increasing prevalence of respiratory diseases, growing preference for remote patient monitoring. Furthermore, strategic developments by manufacturers is likely to offer significant opportunities for the growth of the global pulse oximeters market.
Pulse oximeter is a non-invasive device used for monitoring oxygen saturation level in blood. It is a small, clip-like device that is attached to a body like finger or earlobe. It is mostly used in intensive care, operating, emergency care, and patient at high altitude for assessment of patient’s oxygenation to determine if there is need for supplemental oxygen. Furthermore, pulse oximeters are useful for patients with cardiac problem, respiratory problems, and chronic obstructive pulmonary diseases.
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