July 25, 2024
Pulse Oximeter Market

Growth Accelerated by Rising Awareness about Importance of Regular Monitoring of Blood Oxygen

Pulse oximeters are non-invasive devices that monitor the oxygen saturation levels in blood and pulse rate. They help in detecting hypoxemia, which occurs when insufficient oxygen reaches the tissues. Due to the ongoing Covid-19 pandemic and rising prevalence of respiratory illnesses, there is increased awareness about the importance of regular monitoring of blood oxygen levels. Pulse oximeters enable early detection of issues and help monitor the impact of various diseases.

The global Pulse Oximeter Market is estimated to be valued at US$ 3,683.27 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.

Market key trends:

Rising awareness has fueled the demand for pulse oximeters across both healthcare facilities and households. This rising awareness about importance of regular monitoring of blood oxygen is a key trend accelerating growth of the pulse oximeter market. Widespread adoption of pulse oximeters by healthcare providers has helped accurately track blood oxygen levels of Covid-19 patients being treated at home as well as in hospitals. With increasing recognition of the role played by pulse oximeters in care of respiratory disease patients, their demand is expected to continue growing over the forecast period.

Segment Analysis

The global pulse oximeter market is segmented by type, end-use, and geography. By type, the fingertip pulse oximeters segment dominated the market with the highest revenue share in 2023 due to the advantages of fingertip oximeters like ease of use, portability, and accuracy. By end-use, the hospital end-use segment accounted for the largest share in 2023. High prevalence of chronic respiratory diseases and increasing number of hospitals driving the segment growth.

Key Takeaways

The Global Pulse Oximeter Market Demand is expected to witness high growth during the forecast period of 2023 to 2030. 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.

North America dominated the global pulse oximeter market in 2023 and is estimated to maintain its dominance during the forecast period. High prevalence of respiratory diseases and presence of major pulse oximeter manufacturers in the region are driving the market growth.

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, GE Healthcare, Koninklijke Philips N.V., Medtronic, and Smith & Nephew among others. CAP Biomaterials capture significant share of the global market.
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Source: Coherent Market Insights, Public sources, Desk research
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