The Pulse oximeter market was valued at USD 1.90 Billion in 2018 and is expected to be valued at USD 3.01 Billion by 2026 growing at a Compound Annual Growth Rate (CAGR) of 5.90% from 2018 to 2026. Rapid implementation of technologies in developing pulse oximeters such as wireless connectivity to smart gadgets, sophisticated displays and inbuilt storage are expected to create a significant growth prospect for pulse oximeters. In addition, rise in healthcare centers and multi-specialty hospitals across the developing nations are further expected to create massive demand for pulse oximeters during the forecast period. Furthermore, rise in sports activities and improving infrastructure towards providing better training and injury management is further estimated to create ample demand for the global pulse oximeter market to propel during the forecast period.
The pulse oximeter market has been segmented based on product type which is further divided into fingertip, hand-held, wrist-worn and pediatric. Based on end-user, the pulse oximeter market has been segmented as healthcare institutes and clinics, residential and sports person. Pulse oximeter manufacturers are continuously adding new features to their products and pulse oximeter industry is withstanding tough price competition among the market players. These are expected to bring price-fall in the market. In addition to that, rising disposable income and awareness regarding the benefits of regular health monitoring. These factors are expected to drive the residential segment to witness significant growth rates during the forecast period.
The global Pulse Oximeter market has been geographically segmented into Asia-Pacific, Europe, North America, Latin America, the Middle East and Africa region. In addition to this, North America region holds the largest market share. The reason may be attributed to the presence of advanced medical research institutes and clinics coupled with continuous public awareness programs regarding the benefits of using pulse oximeters. In addition, high per-capita income across North America region is another factor responsible for the region to dominate in terms of market share. However, Asia-Pacific region is expected to grow at the fastest CAGR owing to the increasing numbers of clinics and healthcare institutes coupled with the rise in sports activities and massing spending of sports clubs and teams towards building advanced infrastructure for better training and fitness management.
Some of the key players in the global pulse oximeter market include Contec Medical Systems Co., Ltd., Criticare Systems Inc., General Electric Company, Masimo Corporation, Mediaid Inc., Nonin Medical, Inc., Omron Corporation, Philips, Smiths Group plc. And Spacelabs Healthcare Inc.
· Healthcare Institutes and Clinics
· Sports Person
· North America
o Rest of Europe
· Asia Pacific
o Rest of Asia Pacific
· Middle East and Africa
o South Africa
o Rest of Middle East and Africa
· Latin America
o Rest of Latin America