Pulse Oximeter Market to Grow at a CAGR of 7.68% During the Forecast Period | TechSci Research

Sudden outbreak and spread of pandemic COVID-19 is expected to drive the growth of global pulse oximeter market during the forecast period.

According to TechSci Research report, “Global Pulse Oximeter Market By Product Type (Fingertip, Handheld and Others), By Sensor Type (Reusable v/s Disposable), By Patient Type (Adult, Pediatric, Neonatal), By End User (Hospitals & Clinics, Homecare, Others), By Region, Competition Forecast & Opportunities, 2026”, the global pulse oximeter market stood at USD2576.07 million in 2020 and is further expected to grow at a CAGR of 7.68% during the forecast period. This can be ascribed to rising geriatric population which is susceptible to various chronic diseases. Additionally, increasing air pollution, smoking, among others have led to an increase in the prevalence of respiratory diseases. Pulse oximeters are actively used during surgery process when patient is under anesthesia and post-surgery processes to monitor the patient conditions. These are some of the major factors that are supporting the global pulse oximeter market growth. However, high cost of handheld oximeters leads to affordability constraints thereby hampering the market growth. Also, the global pulse oximeter market is highly fragmented with a lot of Chinese players in the industry, this in turn creates a lot of competition for the big players, thereby restricting the market growth over the next few years.

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Global pulse oximeter market is segmented by product type, sensor type, patient type, end user, by company and regional distribution. Based on sensor type, the market is further bifurcated into reusable and disposable sensors. Reusable sensors held the largest share of 80.18% in 2020 and are often digitally enabled thereby creating a record storage for the patients such that regular consultations with their doctors can be conducted fluidly. Disposable sensors in pulse oximeters are replaceable and function on detecting the infrared and red-light absorption characteristics of hemoglobin. Based on end user the market is categorized into hospitals & clinics, homecare, and others. Home care segment is fastest growing segment with CAGR of 8.51% owing to the fact that reimbursement of various post-surgery procedures is not feasible. Thus, requiring patients to be home-cared. For the purpose of monitoring the post-surgery patient and out-patient, the oximeters allow proper care and easy consultations with the concerned doctors, there by supporting the growth of the market.

Some of the major players in the market are Medtronic Plc. (Covidien), GE Healthcare, Koninklijke Philips N.V., Masimo corporation, Becton, Dickinson, and Company (CareFusion Corp.), CAS Medical Systems, Inc., Nihon Kohden Corporation, Opto Circuits India Ltd., Nonin Medical, Inc., Welch Allyn, Inc. (Hill-Rom Holdings, Inc.), OSI Systems, Inc. (Spacelabs Healthcare), Omron Healthcare, Inc., Drägerwerk AG & Co. KGaA, Meditech Equipment Co., among others. The companies are focusing on extensive research and developments activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships. For instance, in 2021, Masimo acquired LiDCO, a supplier of noninvasive and minimally invasive hemodynamic equipment, thereby expanding its suite of advanced measurement and patient monitoring equipment.

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“North America dominated the market in 2020 owing to the sudden outbreak and spread of COVID-19 pandemic, which severely hit the region especially the United States thereby increasing the demand for pulse oximeters. Additionally, increasing geriatric population coupled with growing prevalence of respiratory diseases is further expected to support the market growth through 2026. Also, presence of well-developed healthcare infrastructure in countries like United States and Canada is further expected to support the market growth.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.

“Global Pulse Oximeter Market By Product Type (Fingertip, Handheld and Others), By Sensor Type (Reusable v/s Disposable), By Patient Type (Adult, Pediatric, Neonatal), By End User (Hospitals & Clinics, Homecare, Others), By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of global pulse oximeter market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global pulse oximeter market.

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India Pulse Oximeter Market to Witness Significant Growth During Forecast Period – TechSci Research

Increasing number of patients suffering from COVID-19 is expected to drive the growth of India pulse oximeter market

According to TechSci Research report, “India Pulse Oximeter Market By Type (Fingertip, Table-Top, Wrist-Worn, Hand-Held, Earlobe, Forehead, Palm/Foot, Nose), By Sensor Type (Reusable v/s Disposable), By Patient Type (Neonatal, Pediatric, Adult), By End Users (Hospitals & Clinics, Diagnostic Centers, Ambulatory Centers, Homecare, Others), By Region, Forecast & Opportunities, FY2026”, the India pulse oximeter market is expected to grow at an impressive rate during the forecast period on account of the growing geriatric population suffering from various respiratory diseases such as COPD, asthma and other respiratory ailments. This has drastically increased the patient pool, which in turn is expected to positively influence the market growth through FY2026. Additionally, growing popularity of homecare surveillance and patient monitoring at home is further expected to fuel the market growth over the next few years. Furthermore, growing emphasis on patient safety during anesthesia and different surgical procedures for monitoring the vital organs is further expected to propel the market growth during the forecast period. Also, increasing demand for portable patient care and monitoring devices is further expected to spur the market growth until FY2026. However, fluctuating prices of pulse oximeters might hamper the market growth. The sudden increase in COVID-19 cases has increased the prices of these devices significantly. Also, a demand-supply gap has been created due to excessive demand for pulse oximeters. This might further restrict the market growth during the forecast period.

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The India pulse oximeter market is segmented based on type, sensor type, patient type, end users, company and region. Based on type, the market can be categorized into fingertip, table-top, wrist-worn, hand-held, earlobe, forehead, palm/foot and nose. Among these, the hand-held devices segment is expected to dominate the market during the forecast period owing to the use of pulse oximeters for long term monitoring of patients when they are stable. Additionally, they are widely used in the hospital facilities. The table-top segment is expected to hold significant market share owing to the growing prevalence of respiratory diseases. Based on end users, the market can be fragmented into hospitals & clinics, diagnostic centers, ambulatory centers, homecare and others. The homecare segment is expected to register highest CAGR during the forecast period. This can be ascribed to the growing prevalence of chronic diseases and patients opting for remote patient monitoring and homecare. Furthermore, surge in the number of COVID-19 cases across the country and patient going for home quarantine and isolation is further expected to drive the segmental growth through FY2026.

India Medtronic Private Limited, Opto Circuits India Ltd., Wipro GE Healthcare Pvt. Ltd., Philips Healthcare India, Masimo Medical Technologies India Pvt. Ltd, Smiths Medical India Pvt Ltd., Welch Allyn India, Spacelabs Healthcare (OSI Systems Pvt. Ltd.), Nihon Kohden India Pvt. Ltd., Contec Medical Systems India Pvt Ltd. and others are some of the leading players operating in India pulse oximeter market. The companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.

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“India pulse oximeter market is expected to grow at a formidable rate during the forecast period on account of the emergence of the growing use of pulse oximeters for monitoring the oxygen levels in COVID-19 patients because if the oxygen level falls below 94, it becomes dangerous for the patients and can lead to breathing problems and shortening of breath. Furthermore, increasing investment and expansion of major players operating in the market in the country such as Philips, GE Healthcare, among others is further expected to create lucrative opportunities for the market growth until FY2026.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Pulse Oximeter Market By Type (Fingertip, Table-Top, Wrist-Worn, Hand-Held, Earlobe, Forehead, Palm/Foot, Nose), By Sensor Type (Reusable v/s Disposable), By Patient Type (Neonatal, Pediatric, Adult), By End Users (Hospitals & Clinics, Diagnostic Centers, Ambulatory Centers, Homecare, Others), By Region, Forecast & Opportunities, FY2026”,has evaluated the future growth potential of India pulse oximeter market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India pulse oximeter market.

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