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  • Published In : Jun 2022
  • Code : CMI467
  • Pages :178
  • Formats :
      Excel and PDF
  • Industry : Medical Devices

Pulse Oximeter is an electric device used to measure oxygen saturation in red blood cells. It can be attached to fingers, forehead, nose, foot, ears or toes for measuring the oxygen count in red blood cells. It is a noninvasive, rapid, and continuous method of monitoring oxygenation, allowing detection of sudden changes in a patient's clinical status. The amount of red and infrared light in an area of pulsatile blood flow can be measured by modern pulse oximeters. Pulse oximeter measures blood oxygen saturation (SpO2), pulse rate, perfusion index (PI).

Global pulse oximeters market is estimated to be valued at US$ 3,426.3 million in 2022 and is expected to exhibit a CAGR of 7.5% during the forecast period (2022-2030).  

Figure 1.Global Pulse Oximeters Market in Terms of Value, By Sensor Type, 2022

PULSE OXIMETER MARKET

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Increasing Prevalence of Cardiovascular Diseases

Increasing prevalence of cardiovascular diseases such as coronary heart disease, peripheral arterial disease, and others is expected to augment growth of the global pulse oximeter market over the forecast period. For instance, according to the World Health Organization in 2021, cardiovascular diseases (CVDs) were the leading cause of death globally. An estimated 17.9 million people died from CVDs in 2019, representing 32% of all global deaths. Of these deaths, 85% were due to heart attack and stroke. Out of the 17 million premature deaths (under the age of 70) due to non-communicable diseases in 2019, 38% were caused by CVDs. Moreover, according to the National Center for Biotechnology Information, in 2020, the prevalence of coronary artery disease (CAD) among Indians was 21.4% for diabetics and 11% for non-diabetics. The prevalence of CAD in rural parts of the country was nearly half than that in urban population.

Pulse Oximeters Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2022: US$ 3,426.3 Mn
Historical Data for: 2017 to 2021 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 7.5% 2030 Value Projection: US$ 6,123.0 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product Type: Table-top/Bedside Pulse Oximeters, Fingertip Pulse Oximeters, Wrist-worn Pulse Oximeters, Handheld Pulse Oximeters
  • By Sensor Type: Disposable Sensor Pulse Oximeter, Reusable Sensor Pulse Oximeter, Reprocessed Sensor Pulse Oximeter
  • By End User: Hospitals, Clinics, Ambulatory Surgical Centers, Homecare Settings, Other End User
Companies covered:

Masimo, Medtronic Plc, Nihon-Kohden Corporation, GE Healthcare, Koninklijke Philips N.V., Hill-Rom Services, Inc.,Smiths Medical, Nonin, MICROTEK, OSI Systems, Inc. Honeywell International Inc., Promed Technology Co.Ltd., Beurer, Contec Medical Systems Co., Ltd., ChoiceMMed, CONMED Corporation, Stryker, Medline Industries, Inc., Curbell Medical Products, Inc., and Ecomed

Growth Drivers:
  • High prevalence of cardiovascular diseases
  • Increasing product launches
Restraints & Challenges:
  • High capital cost
  • Low  acceptance level for non-portable and single user equipment

Figure 2. Global Pulse Oximeters Market Share (%), by Region, 2022

PULSE OXIMETER MARKET

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Increasing product launches are expected to drive market growth

Increasing product launches are expected to drive market growth over the forecast period. For instance, on November 2021, Masimo, a global medical technology company based in California , U.S.A launched Dual Set Pulse Oximeter. The Dual Set Pulse Oximeters were launched by undertaking specific technology changes, to guide Critical Congenital Heart Disease (CCHD) screening, and the addition of the Eve CCHD Newborn Screening Application. The newborn screening provided two simultaneous measurements of oxygen saturation (SpO2) at pre and post ductal sites by the inbuilt Eve application, customized to align with a hospital’s Critical Congenital Heart Disease (CCHD) screening protocol.

Global Pulse Oximeters Market – Impact of Coronavirus (COVID-19) Pandemic

When the COVID-19 pandemic was ongoing, there were several patients presenting severe hypoxemia in the absence of dyspnea which is also referred to as “silent hypoxemia”. To diagnose such complications pulse oximeters were introduced in market. During the COVID-19 pandemic it was made easier to diagnose the problem at own space on emergency basis with the help of pulse oximeters. Eventually there was rise in demand for pulse oximeter as it was showing the reading associated with percentage of hemoglobin binding sites occupied by oxygen, which, in turn, is a function of the arterial oxygen pressure/tension (PaO2). During the Covid-19 time period India-based manufacturers took initiative and launched India- pulse oximeters to tackle the coronavirus crisis. With the crisis still taking place at large number, and the imports being restricted due to boycotting with China, Indian manufacturers are taking over the reins. For instance, in July 2020, Mitocon Biomed; a medical equipment manufacturer based in Mumbai ,India , a Biomedical Research engineer, launched purely India pulse oximeter namely Oxysat. Oxysat was made available at an affordable price with a replacement warranty of 18 months. Hence there was positive impact on global pulse oximeter market due to launch of new products.

Global Pulse Oximeters Market: Restraint

Inaccuracy in reading of pulse oximeter among Black, Hispanic and Asian Covid-19 patients has restricted growth of pulse oximeter market. For instance, according to the Wall Street Journal, in May 2022, the Centers for Disease Control and Prevention said in April that Black and Hispanic patients were most likely to die due to COVID-19 as they were found to be diagnosed late. Hispanic patients were more than 20% less likely than white patients to have their treatment eligibility recognized. Black patients were 30% less likely than white patients to be recognized as being eligible for treatment of severe Covid-19, in spite of having oxygen levels below the threshold, at which certain covid-19 treatment would be recommended.

Key Players

Major players operating in the global pulse oximeter market Masimo, Medtronic Plc, Nihon-Kohden Corporation, GE Healthcare, Koninklijke Philips N.V., Hill-Rom Services, Inc., Smiths Medical, Nonin, MICROTEK, OSI Systems, Inc., Honeywell International Inc., Promed Technology Co., Ltd., Beurer, Contec Medical Systems Co., Ltd., ChoiceMMed, CONMED Corporation, Stryker, Medline Industries, Inc., Curbell Medical Products, Inc., and Ecomed.

 

Frequently Asked Questions

Global pulse oximeters market size is estimated to be valued at US$ 3,426.3 million in 2022 and is expected to exhibit a CAGR of 7.5% between 2022 and 2030

Factors such as high prevalence of cardiovascular diseases, new product launches and ongoing Covid-19 pandemic are expected to drive growth of market during the forecast period.

Disposable Sensor Pulse Oximeters segment is the leading senor type segment in the market.

The major factors hampering growth of the market include inaccuracy in reading of pulse oximeters among black, Hispanic and Asian Covid-19 patients.

Major players operating in the market include Masimo, Medtronic Plc, Nihon-Kohden Corporation, GE Healthcare, Koninklijke Philips N.V., Hill-Rom Services, Inc., Smiths Medical, Nonin, MICROTEK, OSI Systems, Inc., Honeywell International Inc., Promed Technology Co.Ltd., Beurer, Contec Medical Systems Co., Ltd., ChoiceMMed, CONMED Corporation, Stryker, Medline Industries, Inc., Curbell Medical Products, Inc., and Ecomed.

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