At CAGR of 7.1%, Pulse Oximeters Market to Reach US$ 3.25 Billion by 2027

The latest report by IMARC Group, titled "Pulse Oximeters Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," finds that the global pulse oximeters market size reached US$ 2.14 Billion in 2021. Looking forward, the market value is expected to reach US$ 3.25 Billion by 2027, growing at a CAGR of 7.1% during 2022-2027.

Pulse oximeters refer to small clip-like medical devices that are usually attached to the fingertip, earlobe, or toe for monitoring the oxygen level in the patient's blood. They utilize light beams to measure the oxygen saturation of the blood and detect the timing when the oxygen drops below the adequate level. Upon assessment, they also reflect pulse rate and oxygen saturation level in the display attached to the device. In recent years, pulse oximeters find extensive applications across the healthcare sector for monitoring pulse in critical care settings during emergencies, surgeries, and recovery.

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Global Pulse Oximeter Market Trends:

In recent years, there have been rising incidences of chronic medical ailments, such as sleep apnea, asthma, hyperlipidemia, cardiac arrhythmia, and chronic obstructive pulmonary disease (COPD). As a result, the demand for pulse oximeters has escalated with the growing need for constant monitoring of pulse rates and oxygen saturation levels among patients suffering from such health conditions. Additionally, the recent coronavirus disease (COVID-19) outbreak has increased the product usage in COVID-19 management for monitoring respiratory parameters of patients. Along with this, the shifting preferences toward non-invasive medical devices among patients and healthcare professionals have accelerated the product adoption rate. Furthermore, the leading manufacturers are integrating pulse oximeters with artificial intelligence (AI) and advanced sensors and smartphones to maintain electronic health records. This, in confluence with the launch of portable and wearable product variants with innovative features, such as easy data transfer, extensive memory, alarm system, and Bluetooth connectivity, has propelled the market growth. Other factors, including the aging population, improving healthcare infrastructure, technological advancements, and ongoing research and development (R&D) activities, are also creating a favorable market outlook.

Pulse Oximeters Top Companies Worldwide:

• CAS Medical Systems Inc.
• Contec Medical Systems Co. Ltd.
• Koninklijke Philips NV
• Masimo
• Medtronic Plc
• Nonin Medical Inc.
• Opto Circuits
• Smiths Medical, Inc.
• Spacelabs Healthcare (OSI Systems),
• Welch Allyn (Hill-Rom)

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Key Market Segmentation:

Breakup by Type:

o Fingertip Pulse Oximeters
o Handheld Pulse Oximeters
o Wrist-worn Pulse Oximeters
o Others

Breakup by Sensor Type:

• Reusable
• Disposable

Breakup by End-Use:

• Hospitals and Clinics
• Ambulatory Surgery Centers
• Home Healthcare
• Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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This release was published on openPR.