December 8, 2024
Pulse Oximeter Market

The Pulse Oximeter Market is Driven by Rising Incidences of Respiratory Diseases

Pulse oximeters are non-invasive medical devices used for monitoring patient’s oxygen saturation levels and pulse rate in real-time. They are widely utilized during surgical procedures, intensive care and emergency medical situations to continuously track vital signs. Growing prevalence of respiratory diseases like COPD, asthma and sleep apnea has contributed to the increased demand for pulse oximeters. According to the Global Burden of Disease Report, COPD affected over 251 million people globally in 2016 and is projected to be the third leading cause of death by 2030. Respiratory illnesses often lead to low blood oxygen levels which requires constant monitoring with pulse oximeters. The global pulse oximeter market size was valued at US$ 3,683.27 million in 2024 owing to widespread adoption of these portable devices for patient care and home healthcare.

The global Pulse Oximeter Market is estimated to be valued at US$ 3,683.27 million in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Technological advancements have expanded the scope of pulse oximetry. Multi-parameter and wireless monitors with features like memory storage, connectivity to monitoring stations and integrated alarms for hypoxemia are becoming more prevalent. This allows continuous off-site surveillance of at-risk patients. Home healthcare providers are increasingly relying on pulse oximetry to remotely monitor patients’ oxygen saturation and heart rate outside a clinical setting. Finger pulse oximeters are being replaced with smaller, wearable clip sensors that can be attached to earlobes or disposed on the forearm for convenient long-term monitoring. These developments are enhancing the accessibility and affordability of pulse oximetry, thereby boosting market growth rates over the forecast period.

Porter’s Analysis
Threat of new entrants: Low barrier to entry as the technology has become ubiquitous, however incumbents have strong brand recognition and distribution channels.

Bargaining power of buyers: Buyers have moderate bargaining power as there are many established manufacturers. However, healthcare facilities can buy in bulk to negotiate lower prices.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to differentiated components and technologies required. However, there is no sole supplier dominance.

Threat of new substitutes: Threat of new substitutes is low as pulse oximetry technology is well-established for its intended use of non-invasive oxygen saturation level monitoring.

Competitive rivalry: Intense rivalry among global players. Companies compete based on product performance, pricing and partnerships with healthcare facilities.

Key Takeaways
The Global Pulse Oximeter Market Size is expected to witness high growth.

Regional analysis Asia Pacific region is anticipated to grow at the highest CAGR during the forecast period. Factors such as rising medical tourism, growing geriatric population, increasing investment by key players and government initiatives to strengthen the healthcare infrastructure are expected to drive the market.

Key players operating in the pulse oximeter market are Turner Construction Company, Jacobs Engineering Group Inc., HOK Group, Inc., Skanska AB, AECOM, Balfour Beatty plc, Gensler, Lendlease Group, ISG plc, DPR Construction, PCL Construction Enterprises, Inc., Structure Tone, Clark Construction Group, LLC, HBA, JLL (Jones Lang LaSalle).

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

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