Pulse Oximeter Market Size to Surpass USD 3.19 Billion in 2030, exhibiting a CAGR of 5.2%

As per the report by Fortune Business Insights, the global Pulse Oximeter Market size is projected to reach USD 3.19 billion in 2030, at a CAGR of 5.2% during the forecast period, 2023-2030

Pune, India, Aug. 21, 2023 (GLOBE NEWSWIRE) — Global Pulse Oximeter Market Size was valued at USD 2.36 billion in 2022 and is projected to grow USD 3.19 billion by 2030, exhibiting a CAGR of 5.2% during the forecast period. Factors such as the rising prevalence of chronic respiratory diseases and increasing technological advancements will boost the growth of the market.

Also, improving strategic tactics among dominant players will increase the footprint of the market.

This information is provided by Fortune Business Insights™ in its research report titled Pulse Oximeter Market, 2023-2030.

Key Industry Development-

• August 2021: Nihon Seimitsu Sokki Co. Ltd announced expanding its production capacity to 1.5 times the level it was by the end of 2020. The increase in production capacity is brought to aid patients during the ongoing pandemic.

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Key Takeaways –

• Pulse Oximeter Market size in North America was USD 0.96 billion in 2022

• Surge in Prevalence of Chronic Respiratory Disorders to Favor Market Growth
• Emerging Government Guidelines and Recommendations on Use of Pulse Oximeter to Bolster Market Growth

• The tabletop oximeters segment is expected to hold a major market share during the projected period.

Discover the Leading Players Featured in the Report-

• GE Healthcare (General Electric Company) (U.S.)
• Masimo (U.S.)
• VYAIRE (U.S.)
• Nonin (U.S.)
• Medtronic (Ireland)
• Koninklijke Philips N.V. (Netherland)
• Smiths Medical (ICU Medical Inc.) (U.S.)
• Beurer GmbH (Germany)
• NIHON KOHDEN CORPORATION (Japan)

Report Scope & Segmentation:

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Drivers & Restraints:

Rising Prevalence of Chronic Respiratory Diseases and Increasing Government Recommendations to Augment Market Growth

Factors such as the rising prevalence of chronic respiratory diseases including asthma, Chronic Obstructive Pulmonary Disease (COPD), lung cancer, occupational lung disease, and cystic fibrosis will boost the Pulse Oximeter Market growth during the forecast period. Additionally, the rising usage of oximeters for anesthesia monitoring during critical surgeries and detecting chronic diseases such as CHDs and hypoxemia will increase the footprint of the market. Also, a rising number of strategic initiatives including mergers, acquisitions, and collaborations will boost the growth of the market.

However, increasing inaccuracies and limitations regarding the use of oximeters will limit the growth of the market during the forecast period.

Segmentation:

By Product Type

• Fingertip Oximeters
• Handheld Oximeters
• Tabletop Oximeters
• Others

By Technology

• Conventional
• Smart

By Age Group

• Adult
• Pediatrics

By End-user

• Hospitals and Ambulatory Surgical Centers
• Clinics
• Home Healthcare
• Others

Regional Insights:

North America to Account for a Dominant Share Owing to Rapid Adoption of Wireless Devices

North America will witness the largest Pulse Oximeter Market share during the forecast period. This is due to the rising number of patients suffering from chronic respiratory diseases and the surge in hospital admissions. Additionally, the rising adoption of wireless pulse oximeters and the presence of dominant players in the region will increase the footprint of the market.

Europe will occupy a significant market share in terms of global contribution owing to the rising prevalence of CCHD among newborns and improving healthcare infrastructure.

Asia Pacific will occupy a considerable market share owing to the rising focus on improving healthcare infrastructure and rising COVID-19 cases. 

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Competitive Landscape:

Diversified Product Portfolio to Push Dominant Players toward Gaining Incremental Market Value

The market was highly consolidated before the COVID-19 pandemic. However, a rise in demand post-pandemic led to many small and local players emerging from the market. Masimo & Medtronic are considered the dominant players in the sector and occupy a substantial market share.

For example, in November 2021, Masimo announced the launch of the Dual SET pulse oximeter. The device is highly efficient regarding patient monitoring capabilities. The product launch will strengthen its portfolio for Critical Congenital Heart Disease (CCHD) and further increase the market presence. Besides, industry players are focused on integrating diversified product portfolios in order to cater to a wider consumer base.

FAQs

How big is the Pulse Oximeter Market?

Pulse Oximeter Market size was USD 2.36 billion in 2022. It is expected to reach USD 3.19 billion in 2030.

How fast is the Pulse Oximeter Market growing?

The Pulse Oximeter Market will exhibit a CAGR of 5.2% during the forecast period, 2023-2030.

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