Peripheral Pulse Oximeters Market Size, Share, Growth, and Industry Analysis, By Type (Disposable Sensor and Reusable Sensors), By Application (Hospital, Ambulatory Surgical Center, and Home Care), and Regional Forecast By 2031

Updated On: 29 April 2024

Peripheral Pulse Oximeters Market Report Overview

• 
• Request a Free sample to learn more about this report

The global peripheral pulse oximeters market size was 740.6 million in 2022, as per our research, the market is expected to reach USD 1230.11 million by 2031, exhibiting a CAGR of 5.8% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, with peripheral pulse oximeters experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Peripheral pulse oximeters are medical devices used to measure the oxygen saturation (SpO2) levels in a person's blood. They are commonly used in healthcare settings such as hospitals, clinics, and emergency rooms, as well as by individuals at home. The device consists of a probe with sensors that are typically attached to a person's finger, toe, or earlobe. Some models also have sensors that can be clipped onto other areas of the body, such as the nose or forehead.

The pulse oximeter emits two different wavelengths of light, typically red and infrared. These lights are passed through the tissues and blood vessels in the measurement site. Peripheral pulse oximeters are considered non-invasive and provide a quick and convenient way to monitor oxygen saturation levels. They are widely used in various healthcare settings to assess respiratory function, especially during procedures or in situations where oxygen levels may be a concern, such as surgery, anesthesia, or respiratory illnesses.

COVID-19 IMPACT

"Home Monitoring to Boost Demand Significantly"

COVID-19 had a life changing impact globally. The peripheral pulse oximeters market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for peripheral pulse oximeters experienced an increased demand.

Pulse oximeters became highly sought after by individuals during the pandemic. Since low oxygen levels are a potential symptom of COVID-19, people started purchasing pulse oximeters to monitor their oxygen saturation levels at home. This increased demand led to shortages and difficulties in accessing these devices. With the emphasis on managing mild COVID-19 cases at home, pulse oximeters played a crucial role in enabling individuals to monitor their oxygen levels without the need for constant medical supervision. This helped identify individuals with declining oxygen saturation levels who required medical attention.

The pandemic also saw a surge in telehealth services and remote patient monitoring. Healthcare providers utilized peripheral pulse oximeters to remotely monitor patients' oxygen levels and detect any potential complications. This approach reduced the need for in-person visits and allowed for timely interventions when necessary. The market is anticipated to boost the peripheral pulse oximeters market share following the pandemic.

LATEST TRENDS

"Smartphone Integration to Broaden Market Growth"

Pulse oximeters that can be connected to smartphones via Bluetooth or other wireless technologies have become more prevalent. These devices allow users to pair their pulse oximeters with smartphone apps, enabling them to track and analyze their oxygen saturation levels over time. Smartphone integration also facilitates easy data sharing with healthcare professionals for remote monitoring purposes.

The COVID-19 pandemic has accelerated the adoption of remote monitoring and telehealth solutions. Pulse oximeters are being integrated into telehealth platforms, enabling healthcare providers to remotely monitor patients' oxygen saturation levels and provide timely interventions when necessary. This integration helps in managing chronic respiratory conditions, post-operative care, and other situations where continuous monitoring is required. These latest developments are anticipated to boost the peripheral pulse oximeters market share.

Peripheral Pulse Oximeters Market Segmentation

• 
• Request a Free sample to learn more about this report

• By Type

Based on type, the market is divided into disposable sensor and reusable sensors.

Disposable sensor holds a major share of the global market.

• By Application

Based on application, the market is bifurcated into hospital, ambulatory surgical center, and home care.

Hospital as application holds a major share of the global market.

DRIVING FACTORS

"Respiratory Monitoring to Boost Market Share"

Pulse oximeters are essential tools for monitoring oxygen saturation levels, which is crucial in assessing respiratory function. They are commonly used in various healthcare settings to monitor patients with respiratory conditions, such as chronic obstructive pulmonary disease (COPD), asthma, pneumonia, and COVID-19. Accurate and timely measurement of oxygen saturation helps healthcare professionals make informed decisions regarding patient care and interventions.

"Home Healthcare to Boost Market Share"

The growing trend of home healthcare and remote patient monitoring has contributed to the demand for peripheral pulse oximeters. These devices allow individuals to monitor their oxygen saturation levels at home, providing a sense of control and facilitating early detection of any potential deterioration in respiratory function. Home monitoring is particularly important for individuals with chronic respiratory conditions or those recovering from respiratory illnesses or surgeries. These factors are anticipated to drive the peripheral pulse oximeters market share.

RESTRAINING FACTORS

"User Misinterpretation to Hamper Market Share"

Pulse oximeters require proper placement and correct usage for accurate readings. User error, such as incorrect positioning of the device or improper finger placement, can lead to inaccurate results. Additionally, misinterpretation of the readings can occur if users or healthcare professionals are not adequately trained in understanding the limitations and interpretation of pulse oximeter data. The factors are anticipated to hinder the growth of the peripheral pulse oximeters market share.

Peripheral Pulse Oximeters Market Regional Insights

• 
• Request a Free sample to learn more about this report

"North America Dominates the Peripheral Pulse Oximeters Market "

North America is the major shareholder for the peripheral pulse oximeters market share. North America, has a well-developed healthcare infrastructure with advanced medical facilities, hospitals, and clinics. This infrastructure creates a favorable environment for the adoption and use of medical devices such as peripheral pulse oximeters. This significant investment in healthcare drives the demand for advanced medical devices and technologies, including peripheral pulse oximeters. Europe is the second major shareholder of the peripheral pulse oximeters market share.

KEY INDUSTRY PLAYERS

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.   

List of Market Players Profiled

• Masimo [U.S.]
• Medtronic [U.S.]
• Nonin Medical [U.S.]
• Smiths Medical [U.S.]
• Nihon Kohden [Japan]
• Philips [Netherlands]
• GE Healthcare [U.S.]
• Konica Minolta [Japan]
• Mindray [China]
• Heal Force [China]
• Contec [China]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.