The Pulse Oximeter Global Market Report 2023 by The Business Research Company, provides pulse oximeter market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Pulse Oximeter Global Market Report 2023, the market size is expected to grow from $2.45 billion in 2022 to $2.58 billion in 2023 at a compound annual growth rate (CAGR) of 5.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global pulse oximeter market size is expected to reach $3.13 billion in 2027 at a CAGR of 4.9%.
The surging prevalence of respiratory diseases is expected to propel the growth of the pulse oximeter market going forward. Respiratory diseases are disorders related to the airways and the lungs that affect human respiration. The surging prevalence of respiratory diseases is mainly driven by increasing air pollution, exposure to dust, the aging population, and smoking habits, where pulse oximeters can detect changes in oxygen saturation levels before symptoms become apparent.
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The pulse oximeter market is segmented:
1) By Product Type: Fingertip, Handheld, Wrist-worn, Table-Top, And Bedside
2) By Technology: Conventional, Connected
3) By Age Group: Adult, Pediatric
4) By End-User: Hospitals And Clinics, Ambulatory Surgical Centers, Home Healthcare
Product innovation has emerged as a key trend gaining popularity in the pulse oximeter market. Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in March 2021, Nonin Medical Inc. a US-based provider of OEM solutions, launched single-use accessories for WristOx2® 3150 Pulse Oximeters. This product is unique as it provides a more convenient and safer alternative to traditional reusable pulse oximeter accessories and it offers enhanced patient comfort. WristOx2® 3150 Pulse Oximeters is a compact, lightweight, and wearable device used to measure oxygen saturation levels in the blood.
The pulse oximeter market report table of contents includes:
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