Pulse Oximeter Market size is anticipated to surpass USD 4 Billion by the end of 2033, growing at a CAGR of 4% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of pulse oximeter was over USD 2 Billion.The growth of the market is primarily attributed to the increasing prevalence of chronic respiratory diseases. According to the World Health Organization, 455 000 individuals died from asthma in 2019, which is estimated to have affected 262 million people. Moreover, growing prevalence of target diseases, and accessibility of new products are some other major factors which are driving the growth of the market over the forecast period.
Further, growing prevalence of diabetes is expected to boost the growth of the market over the forecast period. According to the World Health Organization, age-specific diabetes mortality rates increased by 3% between 2000 and 2019. Besides this, during pandemic high quality pulse oximeters were in great demand for early diagnosis and treatment of patient with covid-19.
Base Year |
2022 |
Forecast Year |
2023-2033 |
CAGR |
4% |
Base Year Market Size (2022) |
USD 2 Billion |
Forecast Year Market Size (2033) |
USD 4 Billion |
Regional Scope |
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Growth Drivers
Challenges
End-user (Hospitals & Clinics, Homecare)
The global pulse oximeter market is segmented and analyzed for demand and supply by end-use into hospitals & clinics, and homecare. Out of which, the hospitals & clinics segment is anticipated to garner the largest revenue by the end of 2033, backed by growing number of surgeries and emergency room visit. For instance, over 1 million surgical procedures were performed at hospitals that were registered in 2021. Besides this, notably increasing prevalence of various chronic disorders such as asthma, cardiovascular and pneumonia is also fueling up the growth of the market over the forecast timeframe.
Our in-depth analysis of the global market includes the following segments:
By Product Type |
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By Technology |
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By Age Group |
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By End-use |
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Asia Pacific Market Forecast
The Asia Pacific pulse oximeter market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033 owing to growing prevalence of respiratory diseases, followed by the new product launches in the region. For instance, with more than 2 million cases, the Indian state of Rajasthan experienced the greatest prevalence of acute respiratory infections in 2020. Moreover, strong focus of governments of emerging nations on improving healthcare infrastructure is another significant factor which is propelling the growth of the pulse oximeter market in the region.
Medtronic’s Nellcor Bedside SpO2 pulse oximeter is claimed to provide faster stable oxygen saturation readings in mewborns than any other oximeter.
Masimo and Philips reinforced a partnership to bring Maximo NomoLine capnography and O3 regional oximetry to select Philips patient monitors.
Author Credits: Radhika Gupta, Shivam Bhutani
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