July 21, 2024
Pulse Oximeter Market

The global Pulse Oximeter Market Growth Accelerated by Rising Awareness of Pulse Oximeter Benefits

Pulse oximeter is a medical device that is used to measure the oxygen saturation level in the blood. It helps monitor the pulse rate and oxygen saturation of patients suffering from certain medical conditions. Pulse oximeters have gained increasing importance in hospitals and home settings due to their ability to monitor patients with respiratory issues from the safety and comfort of their home.

The global Pulse Oximeter Market is estimated to be valued at US$ 3683.27 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Key Takeaways

The Global Pulse Oximeter Market Demand is expected to witness high growth driven by growing geriatric population, increasing incidence of chronic diseases such as asthma and COPD, and surging demand for home healthcare devices amidst the COVID-19 pandemic. The global Pulse Oximeter Market is estimated to be valued at US$ 3683.27 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030.

Market key trends

The rising awareness of pulse oximeter benefits has accelerated the market growth. Pulse oximeters provide an early indication of declining oxygen levels in blood which helps detect conditions like hypoxemia. This enables timely medical intervention and prevents health complications. With growing incidence of chronic respiratory diseases and an aging population prone to such conditions, pulse oximeters are being increasingly used for remote patient monitoring and management of patients at home. Their non-invasive, portable nature makes them suitable for continuous health tracking without hospital visits. Growing ACCEPTANCE of home healthcare is thus driving the demand for pulse oximeters from both patients and healthcare providers alike. With further innovations to make pulse oximeters more accurate and affordable, their adoption is expected to rise markedly over the coming years.

Segment Analysis

The global Pulse Oximeter Market is dominated by the fingertip pulse oximeter segment. Fingertip pulse oximeters are the most commonly used pulse oximeters as they are easy to use, portable, and affordable. They can easily clip onto the patient’s fingertip to measure oxygen saturation levels and heart rate. As fingertip pulse oximeters offer convenience of use along with accurate and real-time readings, they account for over 60% of the overall pulse oximeter market share.

Regional analysis

North America currently dominates the global pulse oximeter market owing to rapidly growing aged population, rising healthcare spending, and strong presence of key players in the region. The Asia Pacific region is expected to be the fastest growing market for pulse oximeters during the forecast period supported by increasing disposable incomes, growing medical tourism, and rising awareness about pulse oximeter devices in emerging countries such as India and China.

Key players

Key players operating in the pulse oximeter market are CAP Biomaterials, LLC, Kemapco Arab Fertilizers & Chemicals Industries LTD, Merck KGaA, AARTI INDUSTRIES LIMITED, Hindustan Phosphates Pvt. Ltd., Guizhou Zerophos Chemical Co., Ltd. Gujarat Narmada Valley Fertilizers & Chemicals Ltd, Bamni Proteins Limited, Innophos, Mitushi Biopharma, Phosphea, Ecophos Group, and Sudeep Pharma Pvt. Ltd. Masimo Corporation and Medtronic plc currently dominate the global pulse oximeter market with their broad product portfolio and robust global distribution networks.
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Source: Coherent Market Insights, Public sources, Desk research
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