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Pulse Oximeters Market Outlook 2023 to 2033: Growth Insights with Rossmax International Ltd.; Nonin Medical Inc.; Contec Medical Systems Co. Ltd., Others.

07-28-2025 01:02 PM CET | Health & Medicine

Press release from: Fact.MR

Pulse Oximeters Market Outlook 2023 to 2033: Growth Insights

The global pulse oximeters market is projected to rise steadily at a CAGR of 6.4% from 2023 to 2033, with its value growing from USD 2.9 billion in 2023 to USD 5.4 billion by 2033. This growth is largely fueled by increasing health consciousness, surging cases of chronic illnesses, and advancements in healthcare monitoring technology.

Rising Incidence of Chronic Illnesses Bolstering Market Growth

The increasing prevalence of cardiovascular and respiratory diseases globally has created a strong demand for non-invasive health monitoring tools like pulse oximeters. According to the World Health Organization, chronic obstructive pulmonary disease (COPD) was the third leading cause of death worldwide in 2019, with 3.23 million lives lost. This alarming statistic underscores the urgent need for continuous blood oxygen monitoring, a demand pulse oximeters directly address.

Growing awareness among consumers and healthcare providers about the importance of SpO2 monitoring, especially in disease management and emergency care, continues to propel market demand. Furthermore, the rising geriatric population, increasing exposure to air pollution, and tobacco smoke are additional drivers contributing to higher demand for pulse oximeters globally.

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Impact of COVID-19 and Demand for Home Monitoring

The COVID-19 pandemic brought unprecedented attention to oxygen saturation monitoring, as pulse oximeters became essential tools in managing respiratory symptoms and guiding treatment decisions. The surge in home care and the emphasis on remote health monitoring during the pandemic years (2020-2021) created a strong consumer base and pushed companies to innovate affordable, user-friendly devices.

Emerging companies like OxiWear and DetelPro are leveraging this trend, offering cost-effective and wearable oxygen monitoring solutions, including the Oxy10, priced at just USD 3.66. Innovations such as continuous 24-hour monitoring and wearable integration are helping these start-ups secure funding and expand globally.

Regional Outlook: North America and Asia Pacific Leading Growth

North America dominated the global pulse oximeters market in 2022, accounting for approximately 38% of the total share. This is attributed to the region's robust healthcare infrastructure, widespread chronic disease incidence, and favorable reimbursement policies. The United States, in particular, benefits from high healthcare expenditure, rapid adoption of medical innovations, and growing demand for homecare health monitoring.

Europe, with a 24% market share in 2022, is witnessing rising pulse oximeter demand due to evolving regulatory frameworks and strong healthcare awareness. Countries like Germany, Italy, and the UK are leading the regional market, supported by an uptick in medical equipment approvals and healthcare investment.

In the Asia Pacific, countries like India, China, Japan, and South Korea are emerging as lucrative markets due to increased healthcare spending, a rising elderly population, and enhanced awareness of respiratory and cardiovascular diseases. India, for instance, saw a 41% increase in medical device imports in 2022, indicating robust demand for monitoring tools like pulse oximeters.

Product Type Insights: Handheld and Wearable Devices Drive Sales

Among the various product categories, handheld pulse oximeters hold a dominant share, accounting for 40% of market revenue in 2022. These devices offer superior accuracy, portability, and advanced features, making them preferred choices in clinical and emergency settings.

Meanwhile, wrist pulse oximeters are gaining momentum and are expected to grow at a 5% CAGR through 2033. Their convenience and suitability for continuous monitoring make them ideal for homecare and elderly patients. The finger pulse oximeters segment also remains popular due to ease of use, especially among consumers monitoring oxygen levels at home post-pandemic.

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Key Players Shaping the Pulse Oximeters Market

Several established companies and emerging players are actively contributing to the pulse oximeters market growth:

Masimo Corp.
Medtronic plc
Philips Respironics Inc.
GE Healthcare LLC
Omron Healthcare Co. Ltd.
Nonin Medical Inc.
Contec Medical Systems Co. Ltd.
Smiths Medical
Rossmax International Ltd.
Beurer GmbH
Drive Medical Ltd.
Medline Industries Inc.

These companies are focusing on product innovation, strategic acquisitions, and regulatory approvals to expand their market reach. For example, Masimo's acquisition of Sound United in 2022 aims to strengthen its position in both medical and consumer health technologies. Medtronic's 2022 launch of the NellcorTM OxySoftTM SpO2 sensor, with a skin-friendly silicone adhesive, is another example of innovation catering to patient needs.

Challenges and Opportunities

While the market outlook is positive, certain challenges remain. Stringent regulatory policies, concerns over the accuracy of OTC pulse oximeters, and the increasing integration of SpO2 features in wearables like smartwatches may hamper standalone oximeter sales. Nevertheless, the shift toward integrated healthcare monitoring and telehealth adoption opens doors for further growth.

Start-ups and established players are expected to increasingly focus on integration with wearable tech, continuous monitoring solutions, and affordable pricing to meet the evolving needs of patients and healthcare providers globally.

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