Pulse Oximeter Market Analysis

Pulse Oximeter Market Analysis

The table-top/bedside pulse oximeters segment is expected to reach more than USD 1,555 million by 2032. The growth in the segment is attributed to the increasing prevalence of chronic and acute respiratory diseases. For instance, according to the American Lung Association, COPD is the third leading cause of death in the U.S.

• Due to their lightweight, portable, and reusable nature, tabletop pulse oximeters are suited for home diagnostics and medical applications. These devices are ideal for routine examinations, general diagnostics, and a variety of health concerns as they can quickly assess SpO2 levels and pulse rate.
   
• Moreover, table-top/bedside pulse oximeters offer advantages such as continuous monitoring of oxygen saturation levels, pulse rate, and perfusion, making them ideal for hospitalized patients. Their larger displays and audible alarms provide real-time feedback, aiding healthcare professionals in immediate intervention for patients with respiratory or cardiac conditions.
   

The conventional segment in the pulse oximeter market accounted for leading revenue of USD 1,726 million in 2022 and is anticipated to reach over USD 2,956 million through 2032. The notable growth in the segment is owing to the increase in adoption of wired monitoring devices. The devices are instrumental in continuous patient monitoring in healthcare institutes during a therapeutic or diagnostic intervention. The accuracy and the technological advancement in the device are anticipated to drive the segment growth ahead, thereby driving the market in the forecast years.
 

• They are affordable and widely accessible for home healthcare and point-of-care use. Simple operation and quick results benefit both healthcare professionals and patients.

   

• Additionally, encourages individuals to monitor their health, promoting well-being. Aids in early detection of hypoxemia, facilitating timely intervention.
   

These factors have contributed to the widespread adoption of conventional pulse oximeters in both clinical and non-clinical settings, improving patient care and healthcare efficiency.

Based on age group, the pulse oximeter market is segmented into adult and pediatric. The surgery segment accounted for over 39% business share in the year 2022 and is anticipated to witness highest growth during the forecast period.

• There is a notable rise in pediatric patients suffering from various diseases such as Asthma, cystic fibrosis, chronic lung disease, primary ciliary dyskinesia, interstitial lung disease, etc. According to National Center of Biotechnology Information (NCBI), in 2021, approximately around 8.4% pediatric patients suffered from asthma that accounted for over 6 million patients below the age of 18 years.

   

• Further, technological advancements in pulse oximeters to measure fast and accurate oxygen levels of children is set to increase the product demand among pediatric patients.
   

The pulse oximeter market by end-use is categorized into hospitals and clinics, homecare, and others. Hospitals and clinics segment is anticipated to grow at a 6.4% growth rate to reach over USD 3.28 billion by 2032. This significant segment growth is majorly attributed to the increasing number of patient preference to hospitals and clinics for quality care and speedy recovery.

• Availability of diversified range of treatments incorporating advanced technology and equipment caters to patient population suffering from chronic respiratory disorders would drive the segment progression.
   
• Further, hospitals and clinics provide better care facility and convenient treatment at affordable rates in comparison to other settings thereby propelling the revenue growth.
   

Thus, the high-quality services and growing number of outpatient surgical procedures at hospitals and clinics are anticipated to expedite the market progress.
 

U.S. pulse oximeter market accounted for around USD 1 billion revenue in 2022 and is predicted to witness healthy growth rate over the analysis timeline.

• This significant market growth is majorly attributed to the increasing prevalence of chronic respiratory conditions, supportive government initiatives and surging awareness for point-of-care testing.
   
• Increasing instances of heart attack and asthma in the country is set to increase the product demand in the near future. For instance, according to the reports published by the Centre of Disease Control and Prevention (CDC), in 2022, stated that every year around 805,000 people in the U.S. have heart attack and it is one of the leading causes of mortality in the country. Pulse oximeters are used to monitor the heart rate and oxygen level of these patients and provide proper medications.