USD 2.64 Billion
Smart Pulse Oximeters Market Size, Share, Growth Analysis, By Product Type(Fingertip Oximeters, Handheld Oximeters, Tabletop Oximeters), By Technology(Conventional, Smart), By Age Group(Adult, Pediatrics ), By End-User(Hospitals and Ambulatory Surgical Centers, Clinics, Home Healthcare), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2895 |
Region:
Global |
Published Date: May, 2024
Pages:
219
|Tables:
115
|Figures:
72
Smart Pulse Oximeters Market Insights
Global Smart Pulse Oximeters Market was valued at USD 2.64 Billion in 2022, and is poised to grow from USD 2.96 Billion in 2023 to reach USD 4.14 Billion by 2031, at a CAGR of 5.8% during the forecast period (2024-2031).
A pulse oximeter is a tiny, non-invasive electrical gadget that gauges changes in blood oxygen saturation. It can be fastened to bodily parts like toes, noses, ears, and fingers. Any of these body components can be penetrated by a wavelength of light that is used to measure oxygen saturation and pulse rate. They are frequently used by medical workers in critical care environments like hospitals or emergency rooms. There are numerous oximeters in the market. The equipment can be used to keep an eye on patients with serious respiratory conditions.
Rising rates of respiratory illnesses are thought to be the cause of the market's expansion. The product's technological developments are also expected to increase demand for pulse oximeters. Over the course of the forecast period, growing product releases and newly developed regulatory rules and recommendations regarding the use of pulse measuring devices are also anticipated to fuel the expansion of the global pulse oximeter market.
Market Snapshot - (2024-2031)
Global Market Size
Largest Segment
Hospitals and Ambulatory Surgical Centers
Fastest Growth
Home healthcare
Growth Rate
5.8% CAGR
Global Smart Pulse Oximeters Market ($ Bn)
Country Share For North America Region (%)
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Smart Pulse Oximeters Market Segmental Analysis
The global smart pulse oximeters market is segmented on the basis of product type, technology, age group, end-user. By product type, the market is segmented into fingertip oximeters, handheld oximeters, tabletop oximeters. By technology, the market is segmented into conventional, smart. By age group, the market is segmented into adults, pediatrics. By end-user, the market is segmented into hospitals and ambulatory surgical centers, clinics, home healthcare. Based on region, the market is segmented into Asia Pacific, North America, Europe, Latin America, and MEA.
Analysis By Product Type
The market is divided into categories such as tabletop oximeters, handheld oximeters, fingertip oximeters, and others based on the kind of product.
The segment with the largest pulse oximeter market share in 2022 was tabletop oximeters, and during the forecast period, it is expected to grow at a significant CAGR. The increased frequency of respiratory conditions like asthma and COPD and the rising number of hospitalizations are to blame for the segment's considerable percentage.
Over the course of the forecast period, the fingertip oximeters segment is expected to grow at the fastest rate. The abrupt spike in the use of these products during the COVID-19 epidemic is blamed for this segmental expansion. Furthermore, it is anticipated that the demand for these devices would increase in the future due to the increasing use of them for at-home monitoring of respiratory conditions like COPD and asthma.
Analysis By Technology
The market is divided into traditional and smart segments based on technology.
With the biggest market share in 2022, the conventional segment is anticipated to grow at a significant CAGR throughout the course of the forecast period. Over the course of the forecast period, the traditional segment is predicted to develop because of the growing demand for continuous patient monitoring in hospitals and the increased deployment of wired measuring devices. The category is growing due in part to the rise in the prevalence of several respiratory illnesses that necessitate constant patient monitoring in clinics and hospitals.
The smart category is expected to grow at the fastest rate between 2024 and 2031. The increase in linked device use, including wireless measuring equipment, and the growing demand for ongoing patient monitoring in ambulatory and home care settings are credited with the growth. Additionally, during the projected period, the increasing emphasis of market participants on releasing smart gadgets is anticipated to support segmental expansion.
Analysis By Age Group
The market is divided into adult and pediatric segments based on age groups.
The adult market segment, which represented the largest portion of the market in 2022, is expected to grow at a significant CAGR going forward. The growing prevalence of chronic respiratory conditions including COPD and asthma among adults is thought to be the cause of the segmental expansion. Additionally, it is anticipated that in the upcoming years, the segmental growth will be driven by reasons including the high prevalence of COVID-19 among adults and the rising number of adult patients who require continuous patient monitoring who are admitted to hospitals.
Over the course of the forecast period, the pediatrics category is expected to grow at the greatest CAGR. The rising prevalence of COVID-19 in children is thought to be the reason behind the segment's expansion in the pediatrics market. Furthermore, during the projection period, it is anticipated that the prevalence of childhood asthma would rise, leading to a rise in product adoption. Over the course of the projection period, it is anticipated that the increasing prevalence of asthma would increase demand for pediatric pulse measurement devices.
Analysis By End-User
The market is divided into many segments based on the end-user, including home healthcare, clinics, hospitals, and ambulatory surgical centers.
The sector with the most market share in 2022 was hospitals and ambulatory surgery centers, and it is predicted to grow at the fastest rate of growth between 2023 and 2030. The growing number of hospital admissions necessitating continuous patient monitoring systems is the cause of this segmental expansion. Additionally, throughout the anticipated period, the growing number of hospitals along with an increase in patient admissions for the treatment of asthma and COPD are anticipated to fuel product demand.
During the forecast period of 2024–2031, the home healthcare segment is anticipated to grow at the second-highest compound annual growth rate. The growing awareness of the need of monitoring oxygen levels at home and the growing number of measuring devices being introduced by industry participants for use in homecare settings are the reasons behind the segment's rise. Furthermore, it is anticipated that a sharp rise in the need for fingertip measurement equipment during the COVID-19
Global Smart Pulse Oximeters Market By End-User
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Smart Pulse Oximeters Market Regional Insights
The pulse oximeter market was dominated by North America, and this trend is anticipated to continue over the projection period. The region's market is predicted to develop because of the wireless pulse oximeter's quick adoption and the rising use of the device in home healthcare. Furthermore, it is projected that a strong presence of market participants in the region, a rise in hospital admissions and ascs, and an increasing number of patients with chronic respiratory disorders will propel market expansion throughout the region.
The second-largest market, Europe, is expected to grow at a moderate rate of compound annual growth (CAGR) over the projection period. The requirement that hospitals test neonates for CCHD using oximetry and the rising incidence of CCHD in infants are blamed for the growth. In addition, the demand for new products is eventually driven by the expansion of hospitals in Europe because of improvements in the healthcare infrastructure.
Over the course of the projection period, Asia Pacific is anticipated to grow at the fastest rate. The strong emphasis on enhancing hospital infrastructure, expanding awareness of the diagnosis of chronic respiratory illnesses, and an increase in COVID-19 patients are all factors contributing to the market expansion in Asia Pacific.
Asia pacific is expected to increase at the quickest rate during the projection period. The market expansion in Asia Pacific can be attributed to various factors such as the growing prevalence of COVID-19, increased knowledge of the identification of chronic respiratory disorders, and a strong emphasis on improving hospital infrastructure.
Global Smart Pulse Oximeters Market By Geography
- Largest
- Fastest
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Smart Pulse Oximeters Market Dynamics
Drivers
Developments in Smart Pulse Oximeters
- The market is expanding due to ongoing technical developments in medical equipment, such as smart pulse oximeters. The capabilities and features of smart pulse oximeters are being improved by innovations including miniaturization, wireless networking, integration with wearables and smartphones, and sophisticated sensor technologies. This makes the devices more practical, accurate, and easy to use.
Growing Need for Smart Pulse Oximeters
- The need for pulse oximeters, especially smart versions, is being driven by the rising incidence of respiratory conditions like asthma, sleep apnea, and chronic obstructive pulmonary disease (COPD). With the ability to continuously monitor heart rate and oxygen saturation levels, smart pulse oximeters can help reduce healthcare costs and improve patient outcomes by enabling early detection, management, and intervention of respiratory disorders.
Healthcare Tracking for the Aging Population
- The need for healthcare monitoring tools, such as smart pulse oximeters, is being driven by the aging of the world population. Because chronic illnesses and respiratory conditions are more common among the elderly, it is essential to regularly check vital indicators like oxygen saturation levels to maintain their health. For senior patients, smart oximeters provide easy-to-use at-home monitoring options that improve their quality of life and allow for prompt medical treatments.
Increasing Remote Patient Monitoring and Telehealth
- Smart pulse oximeter use is being driven by the increased focus on telehealth services and remote patient monitoring (RPM). These gadgets give medical professionals the ability to remotely monitor patients' vital signs in real time, follow the course of their illnesses, and act quickly to treat any abnormalities that are found. By enabling continuous monitoring outside of conventional healthcare settings, smart oximeters enhance patient access to care and lower the rate of readmissions to hospitals.
Restraints
Limitations in the Adoption of Pulse Oximeters
- Smart pulse oximeters can be substantially more expensive than conventional oximeters since they frequently include cutting-edge features like smartphone apps, Bluetooth connectivity, and data analytics capabilities. Adoption may be constrained by this high acquisition cost, particularly in areas where funding for healthcare facilities is limited. In developing nations, there may be barriers to smart pulse oximeter access, including lack of awareness, infrastructure limitations, and pricing. Because of their restricted availability, patients in these areas may not be able to take advantage of cutting-edge medical technology, which could impede market growth.
Privacy, Security, and Interoperability Challenges with Smart Pulse Oximeters
- When smart pulse oximeters link to cloud-based platforms or mobile devices, privacy and security issues regarding patient data may arise. Patients and healthcare professionals may be reluctant to use these devices because of concern about data breaches, illegal access, or misuse of private medical records. Interoperability issues can occur when smart pulse oximeters are integrated with current healthcare IT systems and electronic health records (EHRs). Inefficiencies and compatibility problems might arise from complicated data sharing and interoperability between devices and healthcare systems due to a lack of standardization in data formats and communication protocols.
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Smart Pulse Oximeters Market Competitive Landscape
Strong direct and indirect presence of key companies, along with their varied product offering, are the reasons behind their significant market share. Furthermore, one of the key elements predicted to improve masimo's standing in the market is the launch of technologically sophisticated items.
Top Player’s Company Profile
- NIHON KOHDEN CORPORATION
- Medtronic
- Masimo
- Nonin
- Beurer GmbH
- GE Healthcare (General Electric Company)
- VYAIRE
- Koninklijke Philips N.V.
- Smiths Medical (ICU Medical Inc.)
- Welch Allyn Inc.
- Becton, Dickinson and Company
- Edwards Lifesciences Corporation
- Criticare Systems, Inc.
- Spacelabs Healthcare Inc.
- CAS Medical Systems, Inc.
Recent Developments
- Masimo, a leader in pulse oximetry and noninvasive monitoring technologies, unveiled the newest generation in its line of wearable technology in March 2023. With its accurate and ongoing health tracking feature, the Masimo Freedom smartwatch has completely transformed the wearable technology market, giving consumers control over their privacy and health. Additionally, it contains a state-of-the-art hardware function that reduces radiation.
- The US FDA is anticipated to grant Medtronic plc (ireland) 510(k) clearance for their nellcor oxysoft neonatal-adult spo2 sensor in 2022. With its extended adherence, this innovative silicone-adhered pulse oximeter sensor is intended to safeguard the delicate skin of newborns.
- In June 2022, The Garmin Vivosmart 5 fitness band has introduced in India. The new fitness tracker comes with Women's health tracking, Heart rate monitoring, body battery energy monitoring, step count, calorie count, stress tracking, and blood oxygen level monitoring.
- In March 2022, the development of remote patient monitoring services for chronic conditions like chronic obstructive pulmonary disease (COPD) and heart disease has been accelerated by Smart Meter's release of the iPulseOxTM. It is one the first cellular-connected pulse oximeters in the world. Smart Meter is an introduced in cellular-enabled remote patient monitoring (RPM) data and devices.
Smart Pulse Oximeters Key Market Trends
- Transforming Finger Pulse Oximeters for Healthcare Monitoring: A small pulse oximeter is a non-invasive medical device that measures an individual's oxygen saturation of circulating arterial blood using spectrophotometry. The sensor is usually attached to a finger, toe, or earlobe. The device calculates the percentage of oxygenated hemoglobin pulsating through a network of blood capillaries.
- Because of the devices' many functions, finger pulse oximeters are anticipated to have the biggest market share. Furthermore, the market is anticipated to rise rapidly due to the devices' portability and increasing technical advancement. Furthermore, the market acceptance of pulse oximeters is anticipated to rise with the availability of affordable models. The finger pulse oximeter provides quick, precise measurements of pulse rate and blood oxygen saturation.
Smart Pulse Oximeters Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to skyquest analysis, the key drivers of market expansion are the rising rates of respiratory ailments and the technical advancements in smart pulse oximeters. Due to the rapid uptake of wireless oximeters, their growing application in at-home healthcare, and the robust presence of industry players, North America is expected to continue to dominate the market. Important companies like GE healthcare, Masimo, and Medtronic are emphasized their substantial market share is a result of their recent innovations and wide range of products. FDA approvals for novel oximeter sensors, the introduction of sophisticated monitoring systems, and calculated acquisitions to expand product lines and gain market share are noteworthy developments.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.64 Billion |
| Market size value in 2031 | USD 4.14 Billion |
| Growth Rate | 5.8% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Smart Pulse Oximeters Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Smart Pulse Oximeters Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Smart Pulse Oximeters Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Smart Pulse Oximeters Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Smart Pulse Oximeters Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Smart Pulse Oximeters Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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