
According to a new report by EMR titled, ‘The Global Pulse Oximeter Market Report and Forecast 2024-2032’, the market attained a value of nearly USD 2.7 billion in 2023. The market is further estimated to grow at a CAGR of 8.68% between 2024 and 2032 to reach a value of USD 5.8 billion by 2032.
Pulse oximeter is a device used to measure the oxygen level in the blood. The device offers a painless, non-invasive method of measuring the oxygen level and therefore, is considered more advantageous over the traditional method of measuring the blood oxygen level. The demand of pulse oximeter is on rise with increase in the respiratory diseases and geriatric population around the globe. As per the World Health Organization facts, in 2020 – there were 1 billion people aged above 60 years and above, this number is expected to reach 1.4 billion by 2030, making 1 in every 6 people aged 60 years or over by 2030.
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With the rising burden of diseases around the globe due to lifestyle changes, the market has been witnessing an increase in the number of surgical procedures. As per the World Health Organization, over 300 million surgical procedures are performed each year globally. Furthermore, increased incidence of collaborations are also expected to contribute to market growth in the forecast period. In November 2023, GE HealthCare and Masimo entered a collaboration which involves integration of Masimo Signal Extraction Technology® (SET®) pulse oximetry into GE HealthCare’s Portrait Mobile wireless and wearable patient monitoring solution.
In addition, there has been a continuous rise in respiratory diseases due to changing lifestyles and environmental conditions across the globe. Some of the most common respiratory diseases driving market growth include chronic obstructive pulmonary disease (COPD), asthma, occupational lung diseases and pulmonary hypertension. According to World Health Organization estimations, COPD is attributed as the third leading cause of death globally with about 90% of COPD deaths occur in those under 70 years of age living in low- and middle-income countries.
Application Areas are Poised to Experience Growth
Based on type, the market segmentation includes disposable sensors and reusable probes. Among both of the types, reusable probes are more expensive as compared to the disposable ones. The rise in the demand of pulse oximeters is also attributed to an increase in the demand of disposable sensors as they allow contamination free usage of the sensor.
Market Segmentation Based on Product Type is Reasonably Distributed
Based on product type, the market segmentation is bifurcated among finger, handheld, wrist, wireless, bedside, and pediatric pulse oximeters. There are many types of pulse oximeter available in the market that increases the choice amongst individuals. However, the type of pulse oximeter used depends on the person's requirement and preference.
The market segmentation is also based on types, technology as well as age groups.
North America to Lead the Market Share Based on Region
Regionally, the market report offers an insight into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America and Europe, having technological advancements and growing awareness among the individuals, is estimated to hold a high market value. Increasing collaborations between academic institutions and MedTech organizations to boost research initiatives also fuel the region’s market share.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product Type |
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Breakup by Sensor Type |
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Breakup by Technology |
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Breakup by Age Group |
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Breakup by End User |
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Breakup by Region |
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Market Dynamics |
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Supplier Landscape |
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Companies Covered |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124