Pulse Oximeter Market Will Register at a CAGR of 10.1% by 2026

[Gauri Deshpande]

The Pulse Oximeter Market research report categorizes the competitive spectrum of the industry in detail. It highlights the top key vendors operating in the market so as to understand the competitive landscape of the market. The Pulse Oximeter Market report also mentions the details such as the overall remuneration, product sales figures, pricing trends, gross margins, etc. Information about the sales & distribution area alongside the details of the company, such as company overview, buyer portfolio, product specifications, etc., are provided in the study.

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The global pulse oximeter market is projected to reach USD 3.7 billion by 2026 from USD 2.3 billion in 2021, at a CAGR of 10.1% during the forecast period. Growth in this market is majorly driven by the high prevalence of respiratory diseases worldwide; the increasing number of surgical procedures; the growing geriatric population and increasing incidence of chronic diseases; the growing investments to improve healthcare infrastructure and technological advancements in pulse oximeter device. The growing medical device companies in emerging economies and upcoming opportunities in point-of-care testing are expected to offer significant growth opportunities for market players during the forecast period. Currently, with the surge in COVID-19 cases, there is a rising focus on respiratory monitoring along with the increasing adoption of pulse oximeters for remote and self-monitoring. This, in turn, is expected to propel market growth in the next two years.

However, the concerns regarding the accuracy of non-medical pulse oximeters and regulations on pulse oximeters are expected to limit market growth to some extent in the coming years. This, along with factors such as poor health infrastructure in various regions, is expected to restrain the growth of this market.

Based on product, the equipment segment holds the largest market share during the forecast period.

Based on the product, the pulse oximeters market is segmented into sensors and equipment. The Equipment segment accounted for the largest share of the pulse oximeter market in 2020. The large share of this segment is attributed to the increasing adoption of fingertip devices during the COVID-19 pandemic for monitoring blood oxygen levels and technological advancements in wearable pulse oximeters.

Based on type, the portable pulse oximeter segment is expected to account for the largest share of the pulse oximeter 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 2020, the portable pulse oximeters segment accounted for the largest share of the pulse oximeters market. The rising demand and adoption of fingertip and wearable oximeter devices during the COVID-19 pandemic for continuous patient monitoring is the major factor driving the growth of this segment.

Based on technology, the conventional devices segment accounted for a larger market share of the pulse oximeter market

Based on technology, the pulse oximeters market is segmented into conventional and connected devices. In 2020, the conventional devices segment accounted for a larger market share of the pulse oximeter market. This can be attributed to the adoption of wired pulse oximeters in conjunction with EKG sensors and other status monitors in hospital settings with the increasing need to monitor patients continuously. However, the connected devices segment is expected to register the highest CAGR during the forecast period. The high adoption of such wireless oximeters in home care and ambulatory care settings for continuous patient monitoring of COVID-19 patients is expected to support market growth

Based on age group, the adult pulse oximeter segment accounted for a larger market share of the pulse oximeter market

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). In 2020, the adults segment accounted for the larger market share of the market. This can be attributed to the growing incidence of chronic respiratory diseases, the rapid increase in the geriatric population, the increasing adoption of oximeters during the COVID-19 pandemic, and the growing demand for home care monitoring and therapeutic devices.

Based on end user, the hospitals 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 hospitals segment accounted for the largest share of the pulse oximeters market in 2020. The large share of this segment can be attributed to the widespread adoption of pulse oximeters for the evaluation of oxygen saturation in patients affected by COVID-19. The rising geriatric population and the increasing incidence of various chronic respiratory diseases are also key factors driving the adoption of monitoring devices such as oximeters during the diagnostic and treatment stages.

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

In 2020, 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 large share of the North American market is attributed to the growing number of COVID-19 cases and the need for pulse oximeters during the treatment phase. The surge in the geriatric population in the coming years and the subsequent increase in the prevalence of respiratory diseases, the need for respiratory monitoring devices, technological advancements, the presence of advanced healthcare infrastructure in the US and Canada, and the increased funding for research and development are also 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–45%, Europe–30%, Asia Pacific–20%, Latin America- 3%, Middle East and Africa–2%
Key players in the Pulse Oximeter market

The key players operating in the pulse oximeter market are Medtronic plc (Ireland), Masimo Corporation (US), Koninklijke Philips N.V. (Netherlands), Nonin Medical Inc. (US), Meditech Equipment Co., Ltd. (China), Contec Medical Systems Co., Ltd. (China), GE Healthcare (US), ChoiceMMed (China), OSI Systems, Inc. (US), Nihon Kohden Corporation (Japan), Smiths Group plc (UK), Honeywell International Inc. (US), Dr Trust (US), HUM Gesellschaft für Homecare und Medizintechnik mbH (Germany), Beurer GmbH (Germany), The Spengler Holtex Group (France), Shanghai Berry Electronic Technology Co., Ltd. (China), Promed Group Co., Ltd. (China), Tenko Medical System Corp. (US), and Shenzhen Aeon Technology Co., Ltd. (China).

Research Coverage:

The report analyzes the pulse oximeter 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 oximeter 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.
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