Pulse Oximeter Market Survey, Key Industry Opportunities and Trends Report by 2028

Pulse Oximeter Industry Overview

The global pulse oximeter market size was valued at USD 2.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2021 to 2028.

Rising awareness regarding applications of pulse oximeters in COVID-19 management and the increasing prevalence of target diseases is expected to drive the growth of the market. Availability of new products and high unmet needs in developing and least-developed economies are expected to boost market growth over the forecast period. Around 43 states in the U.S. have made pulse oximetry mandatory for newborn screening and is gaining popularity in other countries due to applications in the detection of Congenital Heart Defects (CHD) and other heart and respiratory conditions.

Gather more insights about the market drivers, restrains and growth of the Global Pulse Oximeter Market

U.S. pulse oximeters market size, by end-use, 2018 - 2028 (USD Million)

The growing prevalence of target diseases such as asthma, hyperlipidemia, hypertension, diabetes, ischemic conditions, cardiac arrhythmia, sleep apnea, and COPD is expected to be a major market driver over the forecast period. According to the WHO, around 64 million patients are currently living with COPD worldwide with approximately 90% of deaths due to COPD occurring in low- and middle-income countries.

High-quality pulse oximeters are critical for the early diagnosis and treatment of patients with COVID-19. The manufacturing and supply chains of pulse oximeters are expected to witness challenges during this period, as most of the companies are working at half their production capacities. Furthermore, trade restrictions across highly impacted countries are expected to limit the timely distribution of products. However, manufacturers are working to ensure an adequate supply of fingertip and handheld pulse oximeters to countries in dire need, as cases of COVID-19 continue to increase at an exponential rate.

Browse through Grand View Research’s Medical Devices Industry Research Report 

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  • Newborn Screening Market: The global newborn screening market size was valued at USD 783.5 million in 2016 and is expected to grow at a CAGR of 10.6% during the forecast period.

Pulse Oximeter Market Segmentation

Grand View Research has segmented the global pulse oximeter market on the basis of type, end-use, and region:

  • Pulse Oximeter Type Outlook (Revenue, USD Million, 2016 – 2028)
    • Fingertip
    • Handheld
    • Others 
  • Pulse Oximeter End-use Outlook (Revenue, USD Million, 2016 – 2028)
    • Hospitals & Other Healthcare Facilities
    • Homecare 
  • Pulse Oximeter Regional Outlook (Revenue, USD Million, 2016 – 2028)
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa (MEA)

Market Share Insights

  • January 2020: Vyaire Medical made its MX40-a reusable telemetry adapter-commercially available in the U.S. This product features a SpO2 port, which is compatible with Philips 9 pin pulse oximeter sensor and Masimo LNCS pulse oximeter.
  • February 2017: The company received a CE mark for Rad-97 Pulse CO-Oximeter used to monitor blood pressure at set intervals.

Key Companies profiled:

Some of the prominent players in the pulse oximeter market include:

  • Medtronic (Covidien)
  • Carefusion Corp.
  • GE Healthcare
  • Philips Healthcare
  • Masimo
  • CAS Medical Systems, Inc.
  • Opto Circuits India Ltd.
  • Nonin Medical, Inc.
  • Smiths Medical
  • Welch Allyn
  • Spacelabs Healthcare
  • Meditech Equipment Co.
  • Nihon Kohden Corporation

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