The Pulse Oximeter Market is the market for devices used to measure the oxygen saturation level in a person's blood. These devices are non-invasive and often used in healthcare settings such as hospitals, clinics, and home healthcare. They are also increasingly popular among consumers for personal use.
Pulse oximeters work by shining a light through the skin and measuring the amount of light absorbed by oxygenated and deoxygenated hemoglobin. This information is then used to calculate the oxygen saturation level, which is expressed as a percentage.
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The Pulse Oximeter Market revenues were estimated at US$ 2.3 Billion in 2021 and is anticipated to grow at a CAGR of 7.6% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 5.1 Billion.
The global pulse oximeter market has experienced significant growth in recent years. Factors driving this growth include an increasing prevalence of respiratory disorders such as chronic obstructive pulmonary disease (COPD) and sleep apnea, rising awareness about the importance of monitoring oxygen levels, and technological advancements in pulse oximetry devices.
Key Takeaways Pulse Oximeter Market:
- Market Growth: The global pulse oximeter market has witnessed substantial growth due to several factors, including the increasing prevalence of respiratory diseases, rising geriatric population, growing awareness about the importance of monitoring oxygen levels, and the impact of the COVID-19 pandemic.
- COVID-19 Impact: The COVID-19 pandemic has acted as a major catalyst for the pulse oximeter market. Pulse oximeters have played a crucial role in monitoring the oxygen levels of patients, both in healthcare facilities and home settings, during the pandemic. The high demand for pulse oximeters during this period has significantly contributed to market growth.
- Technological Advancements: Advancements in technology have led to the development of portable and wireless pulse oximeters, which offer greater convenience and ease of use for both healthcare professionals and patients. These devices often come with additional features such as smartphone connectivity, data storage, and analysis capabilities.
- Home Healthcare: The increasing trend of home healthcare and self-monitoring has driven the demand for pulse oximeters in the consumer market. Many individuals with chronic respiratory conditions or other health concerns prefer to monitor their oxygen levels at home, contributing to the growth of the consumer segment in the pulse oximeter market.
The key companies in Pulse Oximeter Market are focused on alliances, technology collaborations, and product launch strategies. The Tier 2 Players in the market are targeting to increase their market share.
Some of the recent developments of key Neural Implants providers are as follows:
- In March 2022, the introduction of iPulseOx has been announced by Smart Meter, a manufacturer of patient monitoring equipment. The first cell phone-connected pulse oximeter offers remote patient monitoring services for long-term diseases like heart disease and chronic obstructive pulmonary disease (COPD). This product launch has improved the company's standing, giving them a competitive technological edge over their rivals and growing their customer base.
- In June 2021, the release of Oxy10 pulse oximeter was announced by DetelPro. The users of this product can determine the results with the aid of an LED display. The company's pulse oximeter portfolio was expanded throughout numerous hospitals and homecare facilities owing to this product launch, which increased income for the company.
- In February 2021, Masimo added enhanced measuring and patient monitoring capabilities by acquiring LiDCO, a provider of noninvasive and minimally invasive hemodynamic technology.
- In January 2021, a fingertip pulse oximeter that links to the TytoCare device via a cable to log test results to patients' EHRs and enable remote monitoring by clinicians was introduced by the telehealth business Tyto Care.
- In November 2020, in order to capitalize on the trend in digital health and ongoing investments in innovation, GE Healthcare increased its AI products and Edison ecosystem. The business is also introducing ground-breaking imaging technologies.
- In May 2020, Masimo and Royal Philips reaffirmed their partnership, whereby Philips would incorporate extra Masimo measurement technologies into specific IntelliVue MX-series multiparameter monitors in order to aid doctors in determining cerebral oximetry and ventilation status.
Key Companies Covered:
- Medtronic plc
- Carefusion Corp
- GE Healthcare
- Philips Healthcare
- CAS Medical Systems, Inc
- Opto Circuits India Ltd.
- Nonin Medical, Inc.
- Meditech Equipment Co.
- Welch Allyn
Pulse Oximeter Market Segmentation:
- Hospitals & Other Healthcare Facilities
- North America
- Latin America
- Middle East and Africa (MEA)