Pulse Oximeter Market by Product (Equipment, Sensor), Type [Portable (Handheld, Wearable, Fingertip), Bedside], Technology (Conventional, Connected), Age Group (Adult, Infant, Neonatal), End User (Hospitals, Home Care), Region - Global Forecast to 2032
The global pulse oximeters market is projected to reach USD 7.04 billion by 2032 from USD 3.60 billion in 2024, at a CAGR of 8.7% during the forecast period. Growth in this market is mainly driven by the increasing number of surgical procedures, the growing geriatric population, and the increasing incidence of chronic diseases.
Scope of the Report
Years Considered for the Study
2023-2033
Base Year
2024
Forecast Period
2025-2032
Units Considered
Value (USD Billion)
Segments
Product, Type, End User, Age Group, and Technology
Regions covered
North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
By product, the equipment segment is expected to register the highest CAGR during the forecast period.
Based on the product, the pulse oximeters market is segmented into sensors and equipment. The equipment segment is expected to register the highest growth rate during the forecast period. The high growth rate of this segment is attributed to the increasing demand for fingertip pulse oximeters for home monitoring and the rising number of surgeries requiring patient monitoring devices.
By type, the bedside/tabletop pulse oximeter segment accounted for the largest share of the pulse oximeters market in 2024.
Based on type, the pulse oximeters market is segmented into portable pulse oximeters and bedside/tabletop pulse oximeters. The market for portable pulse oximeters is further segmented into fingertip, handheld, and wearable pulse oximeters. In 2024, the bedside/tabletop pulse oximeters segment accounted for the largest share of the pulse oximeters market. The large share of this market is attributed to increasing adoption of bedside pulse oximeters for patient monitoring in home-care settings and long-term care facilities.
By technology, the conventional devices segment accounted for the largest market share of the pulse oximeters market in 2024.
Based on technology, the pulse oximeters market is segmented into conventional and connected devices. In 2024, the conventional devices segment accounted for a larger market share of the pulse oximeters market. The large share of this segment is attributed to the adoption of wired pulse oximeters in conjunction with other patient monitoring devices in healthcare settings. Conventional pulse oximeters are still widely used because they are cost-effective, simple to operate, and offer proven clinical accuracy. They do not rely on the internet or Bluetooth connectivity, making them ideal for resource-limited settings. Hospitals trust their reliability for critical care and surgical monitoring. Connected devices often face adoption barriers due to data privacy concerns and infrastructure needs. Additionally, conventional models require less maintenance and training
By age group, the pediatric pulse oximeter segment is expected to register the highest CAGR during the forecast period.
Based on age group, the pulse oximeters market is segmented into adults (18 and over) and pediatrics (neonates under 1 month, infants between 1 month and 2 years of age, children between 2 and 12 years, and adolescents between 12 and 16 years). The pediatric segment is expected to register the highest growth during the forecast period. The high growth rate of this segment is attributed to the increasing cases of congenital heart diseases and other respiratory diseases, leading to hospital admissions and rising surgical procedures for children.
By end users, the homecare settings segment is expected to register the highest CAGR during the forecast period.
Based on end users, the pulse oximeters market has been segmented into hospitals, home care settings, and ambulatory care centers. The home care settings segment is expected to register the highest growth during the forecast period. The large share of this segment can be attributed to the widespread adoption of portable pulse oximeters for remote patient monitoring.
By region, North America accounted for the largest market share in 2024.
In 2024, North America accounted for the largest share of the pulse oximeters market. The surge in the geriatric population in the coming years and the subsequent rise in hospitalizations, the growing incidence of infectious diseases, and the rising technological advancements in pulse oximeters are the factors driving the growth of the pulse oximeters market in the region.
The breakdown of primary participants was as mentioned below:
By Company Type - Tier 1-35%, Tier 2-45%, and Tier 3-20%
By Designation - C-level-35%, Director-level-25%, Others-40%
By Region - North America-45%, Europe-30%, the Asia Pacific-20%, Latin America- 3%, and the Middle East and Africa-2%
Key Players in Pulse Oximeters Market
The key players operating in the pulse oximeters market are Medtronic plc (Ireland), Masimo Corporation (US), Koninklijke Philips N.V. (Netherlands), Nonin Medical Inc. (US), Nihon Kohden Corporation (Japan), GE Healthcare (US), CONTEC MEDICAL SYSTEMS CO., LTD. (China), ICU Medical, Inc. (US), Dragerwerk AG & Co. KGaA (Germany), OSI Systems, Inc. (Spacelabs Healthcare) (US), Meditech Equipment Co., Ltd. (China), Medline Industries, LP (US), ChoiceMMed (China), and Dr Trust (US), among others.
Research Coverage:
The report analyzes the pulse oximeters market and estimates its size and future growth potential based on various segments such as product, type, technology, age group, end user, and region. It also includes a product portfolio matrix of various pulse oximetry products available in the market. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.
Reasons to Buy the Report
The report will help established firms, new entrants, and smaller firms gauge the pulse of the market, which in turn would help them gain a more significant share of the market. Firms purchasing the report could use one or any combination of the strategies mentioned below to strengthen their position in the market.
This report provides insights into the following pointers:
Analysis of key drivers (increasing prevalence of chronic disease, technological advancements in pulse oximeters, new product launches, high R&D investments), restraints (Accuracy in OTC pulse oximeters), opportunities (emerging markets and the growing adoption of pulse oximeters), challenges (usage of pulse oximeters)
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the pulse oximeters market
Product Development/Innovation: Detailed insights into the upcoming trends, R&D activities, and product launches in the pulse oximeters market
Market Development: Comprehensive information on lucrative emerging regions
Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the Pulse oximeters market
Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKET SEGMENTATION & REGIONAL SCOPE
1.3.2 INCLUSIONS & EXCLUSIONS
1.3.3 YEARS CONSIDERED
1.3.4 CURRENCY CONSIDERED
1.4 STAKEHOLDERS
1.5 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH APPROACH
2.1.1 SECONDARY RESEARCH
2.1.1.1 Key sources of secondary data
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY RESEARCH
2.1.2.1 Key primary sources
2.1.2.2 Key objectives of primary research
2.1.2.3 Key data from primary sources
2.1.2.4 Key insights from industry experts
2.1.2.5 Breakdown of primaries
2.2 MARKET SIZE ESTIMATION
2.2.1 REVENUE SHARE ANALYSIS
2.2.2 MARKET SHARE ANALYSIS (BOTTOM-UP APPROACH)
2.2.3 TOP-DOWN APPROACH
2.2.4 PRIMARY INTERVIEWS
2.3 DATA TRIANGULATION
2.4 MARKET SHARE ESTIMATION
2.5 STUDY ASSUMPTIONS
2.6 RESEARCH LIMITATIONS
2.6.1 METHODOLOGY-RELATED LIMITATIONS
2.6.2 SCOPE-RELATED LIMITATIONS
2.7 RISK ANALYSIS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 PULSE OXIMETER MARKET OVERVIEW
4.2 ASIA PACIFIC: PULSE OXIMETER MARKET, BY END USER AND COUNTRY