Pulse Oximeter Market to Grow at a CAGR of 5.4% over 2024 to 2032; Rising Government Guidelines Associated with Pulse Monitoring Devices to Boost Industry Expansion

The global pulse oximeter market size stood at USD 2.24 billion in 2023. The market value is slated to rise from USD 2.34 billion in 2024 to USD 3.56 billion by 2032 at a CAGR of 5.4% during 2024-2032. Fortune Business Insights™ presents this information in its report titled “Pulse Oximeter Market Size, Share & Industry Analysis, By Product Type (Fingertip Oximeters, Handheld Oximeters, Tabletop Oximeters, and Others), By Technology (Conventional and Smart), By Age Group (Adults and Pediatrics), By End-user (Hospitals and Ambulatory Surgical Centers, Clinics, Home Healthcare, and Others), and Regional Forecast, 2024-2032”.

Pulse oximeters find application in monitoring the blood oxygen levels as failure to detect hypoxemia could result in acute respiratory failure. The product adoption is slated to rise in homecare settings owing to rising geriatric population and the prevalence of respiratory disorders, heart problems, and other issues.

The COVID-19 pandemic positively influenced industry expansion. This was due to the increased product adoption in hospitals for blood oxygen level monitoring in COVID-19 patients.

Masimo ORi Granted De Novo the Only FDA-Cleared Noninvasive and Continuous Parameter

Masimo ORi awarded De Novo its FDA clearance as a noninvasive and continuous parameter in October 2023. It will additionally provide insights into a patient’s oxygen status in the moderate hyperoxic range under supplemental oxygen. Masiomo ORi helps to address these limitations by constantly offering insights into the oxygenetaion of hemoglobin in the moderate hyperoxic range.

Industry Value to Rise with Enforcement of Government Guidelines

The government bodies across various developing and developed countries are providing guidelines and recommendations on pulse measuring devices. In addition, governments are mandating continuous monitoring of the saturation levels of oxygen in patients with chronic respiratory disorders. These factors are set to propel pulse oximeter market growth.

Nonetheless, certain aspects affecting oximeter accuracy, such as dark skin pigmentation, fingernail polish, and others, may restrain industry expansion.

Leading Players Launch Advanced Products to Strengthen Market Positions

Prominent players are bringing advanced products to the pulse oximeter market. The solutions are being introduced for strengthening their industry positions. NIHON KOHDEN CORPORATION and Koninklijke Philips N.V. are a few of the leading market players. 

Key Players Profiled in the Report:

• GE HealthCare (U.S.)
• Masimo (U.S.)
• VYAIRE (U.S.)
• Nonin (U.S.)
• Medtronic (Ireland)
• Koninklijke Philips N.V. (Netherlands)
• Smiths Medical (ICU Medical Inc.) (U.S.)
• Beurer (Germany)
• NIHON KOHDEN CORPORATION (Japan)   

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/pulse-oximeters-market-100528

Key Industry Development

• November 2022 – BioIntelliSense, Inc., enhanced its pulse oximeter sensor chipset with the addition of skin color sensitivity. The move would facilitate the accurate measurement of the saturation level of blood oxygen regardless of the skin tone.

Further Report Findings:

• North America pulse oximeter market share bagged a prominent position in the global market in 2023. The regional market size stood at USD 0.91 billion in 2023. The region records an increase in hospital admissions and rising incidences of chronic respiratory diseases.
• In 2023, Europe recorded the second-largest share in the global market. The product demand is surging in the region driven by the growing number of hospitals and the enhancement of healthcare infrastructure.
• By product type, the market is categorized into handheld oximeters, tabletop oximeters, fingertip oximeters, and others. In 2023, the tabletop oximeters segment accounted for the largest market share. This is driven by the high prevalence of respiratory diseases such as COPD and asthma across various regions.
• By technology, the market is bifurcated into smart and conventional. The smart segment is touted to grow at the highest CAGR over the analysis period. The soaring need for continuous patient monitoring in ambulatory and home care settings and the growing adoption of connected devices are key factors driving segment growth.

Table of Segmentation