Pulse Oximetry Market size is set to grow by USD 1.18 billion from 2024-2028, Increasing prevalence of chronic respiratory diseases to boost the market growth, Technavio

NEW YORK, July 19, 2024 /PRNewswire/ — The global pulse oximetry market  size is estimated to grow by USD 1.18 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 8.09%  during the forecast period.  Increasing prevalence of chronic respiratory diseases is driving market growth, with a trend towards increasing online marketing strategies by market vendors. However, limitations and complications associated with pulse oximeters  poses a challenge. Key market players include American Diagnostic Corp., Baxter International Inc., Contec Medical Systems Co. Ltd., Dragerwerk AG and Co. KGaA, General Electric Co., Halma Plc, Heal Force Biomeditech Holdings Ltd., ICU Medical Inc., Konica Minolta Inc., Koninklijke Philips N.V., Lepu Medical Technology Beijing Co. Ltd., Masimo Corp., Medical Information Technology Inc., Medtronic Plc, Nihon Kohden Corp., Nonin Medical Inc., OMRON Corp., SCHILLER AG, Shenzhen Mindray BioMedical Electronics Co. Ltd, and Vyaire Medical Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Key Market Trends Fueling Growth

In response to the growing trend of using pulse oximeters in home healthcare settings, market vendors have shifted their focus towards online marketing strategies to boost sales. Companies such as Masimo, Nonin Medical, CONTEC MEDICAL SYSTEms, OMRON, Santa Medical, and iHealth Labs are expanding their online presence through social media and e-commerce platforms. Online retailing enables vendors to reach a broader customer base, including home healthcare users, while minimizing setup, distribution, and operational costs. Customers benefit from the convenience of purchasing authentic products with manufacturer warranties, a wide range of options, and the availability of promotional offers. The COVID-19 pandemic further accelerated the demand for wearable fingertip pulse oximeters, leading to a surge in online sales and revenue growth in the global pulse oximetry market. As a result, the adoption of online marketing strategies by vendors is expected to fuel the market’s growth during the forecast period. 

The Pulse Oximetry market is experiencing significant growth due to increasing demand for patient monitoring devices, particularly among the geriatric population and those with respiratory disorders. Wireless pulse oximeters, such as Bluetooth devices, are trending due to their repositional flexibility and convenience. Oxygen saturation level monitoring is crucial for morbidity and mortality reduction in critical care, anesthesia, childbirth, surgery, neonatal, and pediatric care. Technological advancements include smart meters, alarm systems, and Bluetooth connectivity for proactive monitoring and remote patient care. Accuracy is key, with silicon adhesive and signal acquisition improving performance. Home consumers, clinicians, pilots, athletes, and mountaineers all benefit from pulse oximetry’s vital stats monitoring capabilities. The coronavirus pandemic has further boosted demand for home care and telehealth solutions. Memory and data transfer features enhance usability in hospitals and ambulatory surgical centers. 

Discover 360° analysis of this market. For complete information, schedule your consultation- Book Here!

Market Challenges

• Pulse oximetry, a non-invasive method used to measure oxygen saturation levels in the blood, has become a standard tool in healthcare settings. However, it’s important to acknowledge the limitations and potential inaccuracies associated with this technology. Factors such as abnormal hemoglobin, anemia, reduced peripheral circulation, venous congestion, bright ambient light, and nail varnish can impact the accuracy of pulse oximeter readings. Additionally, some lower-priced pulse oximeters in the market have been found to provide inaccurate saturation readings during hypoxia and do not meet clinical standards. Conventional pulse oximetry technology also faces challenges, including difficulty in measuring oxygen saturation in the presence of motion artifacts or low perfusion, and failure to provide accurate measurements in the operating room. These limitations and potential inaccuracies may deter end-users from adopting pulse oximetry, negatively impacting the growth of the global pulse oximetry market.
• The Pulse Oximetry market faces several challenges in various sectors. In healthcare, ensuring patient safety during anesthesia, critical care, childbirth, and surgery is paramount. Pulse oximetry plays a crucial role in monitoring oxygen saturation levels. Technological advancements have led to the development of wrist, fingertip, and handheld pulse oximeters for proactive monitoring in home care and remote settings. The coronavirus pandemic has increased demand for these devices among home consumers and clinicians. In infants and neonates, accuracy is vital for newborn screening and pneumonia diagnosis. For pilots, athletes, and mountaineers, pulse oximeters ensure optimal performance. Challenges include ensuring accuracy, memory, data transfer via Bluetooth, and use in hospitals and ambulatory surgical centers.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This pulse oximetry market report extensively covers market segmentation by

1. Product 

• 1.1 Bedside/desktop pulse oximeters
• 1.2 Handheld pulse oximeters
• 1.3 Fingertip pulse oximeters
• 1.4 Wrist-worn pulse oximeters

• 2.1 Hospitals and clinics
• 2.2 Alternative care settings

• 3.1 North America
• 3.2 Europe
• 3.3 Asia
• 3.4 Rest of World (ROW)

1.1 Bedside/desktop pulse oximeters-  Handheld pulse oximeters are essential medical devices with a user-friendly interface, connecting a probe assembly to a control unit. These devices offer various applications, from occasional spot checks to long-term monitoring of neonatal and adult patients in hospitals and homes. The handheld segment holds the second-largest share in the global pulse oximetry market. These devices feature larger displays, alarm limits, rechargeable batteries, and data transfer options via USB or IR. Widely used in hospitals, clinics, nursing homes, and operating theaters, handheld pulse oximeters are also adopted by individuals with chronic pulmonary conditions, athletes, firefighters, and pilots for continuous SpO2 level monitoring. Factors like ease of use, portability, and real-time monitoring drive market growth.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017 – 2021)  – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global respiratory monitoring devices market is driven by increasing respiratory diseases worldwide, fostering demand for advanced diagnostic tools. Meanwhile, the global wearable medical devices market is expanding rapidly, propelled by advancements in sensor technology and growing health awareness. In parallel, the global pressure monitoring devices market is witnessing robust growth due to rising incidences of hypertension and cardiovascular diseases, prompting innovations in non-invasive monitoring solutions. These markets are poised for continued expansion, driven by technological advancements and the imperative for personalized healthcare solutions.

Research Analysis

The Pulse Oximetry market encompasses a range of patient monitoring devices used to measure oxygen saturation levels in the blood. These devices are essential for various applications, including geriatric population, respiratory disorders, anesthesia, critical care, childbirth, surgery, neonatal, and pediatric care. Technological advancements have led to the development of wireless Bluetooth and fingertip pulse oximeters, enabling remote monitoring and proactive intervention. Morbidity and mortality in these patient groups can be significantly reduced through effective oxygen saturation monitoring. Home consumers and clinicians alike benefit from these devices, with applications ranging from vital stats monitoring during coronavirus recovery to ongoing care for chronic conditions. The market continues to grow, driven by increasing demand for home care, patient safety, and the expanding use of pulse oximetry in diverse settings.

Market Research Overview

The Pulse Oximetry Market encompasses a range of patient monitoring devices used to measure oxygen saturation levels in the blood. These devices are essential in various healthcare settings, including geriatric care, critical care, anesthesia, surgery, pediatric care, and newborn screening. Pulse oximetry is particularly crucial for individuals with respiratory disorders, such as pneumonia, and those undergoing procedures that require close monitoring of vital stats. Technological advancements have led to the development of various types of pulse oximeters, including wireless and Bluetooth devices, which offer greater repositionability and convenience. Silicon adhesive and signal acquisition technologies ensure accurate readings, while smart meters and alarm systems provide real-time monitoring and patient safety. Pulse oximetry is also gaining popularity among home consumers, enabling proactive monitoring and remote care for individuals with chronic conditions. The market includes various types of pulse oximeters, such as wrist, fingertip, and handheld devices, catering to diverse user needs. The coronavirus pandemic has further accelerated the demand for pulse oximetry devices, as they enable early detection and monitoring of respiratory issues. Pulse oximetry plays a crucial role in patient safety, particularly in hospitals, ambulatory surgical centers, and during childbirth. It is also used by pilots, athletes, mountaineers, and infants, highlighting its broad applicability and importance in various sectors. Data transfer and memory features in pulse oximeters enable easy sharing of vital information between clinicians and healthcare providers, enhancing overall care quality.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Bedside/desktop Pulse Oximeters
• Handheld Pulse Oximeters
• Fingertip Pulse Oximeters
• Wrist-worn Pulse Oximeters
• End-user
• Hospitals And Clinics
• Alternative Care Settings
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/pulse-oximetry-market-size-is-set-to-grow-by-usd-1-18-billion-from-2024-2028–increasing-prevalence-of-chronic-respiratory-diseases-to-boost-the-market-growth-technavio-302200568.html

SOURCE Technavio