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What key factors are powering the surge in the pulse oximeter market right now?

The market size of pulse oximeters has seen a consistent increase in the past few years. It is projected to expand from $2.64 billion in 2024 to $2.75 billion in 2025, with a compound annual growth rate (CAGR) of 4.3%. The historical growth can be credited to factors such as the increasing elderly population, the growth in respiratory illnesses, advancements in healthcare and hospital infrastructure, increase in awareness and education, along with the impact of the global pandemic.

How fast Is the pulse oximeter market expected to grow, and what’s its future value?

The market for pulse oximeters is poised for a robust expansion in the coming years, with predictions showing it reaching a size of $3.54 billion in 2029, thanks to an annual growth rate of 6.5%. The expected surge during this period can be tied to several factors such as its incorporation with wearable tech, readiness for worldwide health emergencies, government-backed healthcare programs, monitoring of health and wellness, and strategy for global health emergencies. The forecast period will also see several predominant trends like merging with telehealth, technological innovations, a focus on home-based healthcare, intelligent functionalities and connectivity, and distant monitoring of patients suffering from chronic ailments.

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What are the leading drivers of growth in the pulse oximeter market?

The increasing incidence of respiratory ailments is anticipated to spur the expansion of the pulse oximeter market. Disorders pertaining to the lungs and airways that have an impact on human respiration amount to respiratory diseases. The escalating occurrence of these disorders is primarily fuelled by factors such as rising air contamination, exposure to dust, the elderly populace, and smoking behaviors. Pulse oximeters play a crucial role in identifying shifts in oxygen saturation levels even before any symptoms are evident. For example, in December 2023, as per the data from the National Center for Biotechnology Information, a government agency based in the US, the count of COPD instances was anticipated to surge by 112 million, culminating in a sum of 592 million by 2050. This accounts for 9.5% of the eligible population. Hence, the escalating incidence of respiratory disorders is steering the expansion of the pulse oximeter market.

What are the key segments defining the pulse oximeter market?

The pulse oximeter market covered in this report 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

Subsegments:

1) By Fingertip: Adult Fingertip Oximeters, Pediatric Fingertip Oximeters

2) By Handheld: Single-Patient Handheld Oximeters, Multi-Patient Handheld Oximeters

3) By Wrist-Worn: Continuous Monitoring Wrist Oximeters, Spot-Check Wrist Oximeters

4) By Table-Top And Bedside: Portable Table-Top Oximeters, Stationary Bedside Oximeters

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Who are the key players steering the development of the pulse oximeter market?

Major companies operating in the pulse oximeter market include Medtronic Plc, GE Healthcare, Masimo Corporation, Nonin Medical Inc., Nihon Kohden Corporation, Koninklijke Philips NV, Philips Healthcare, Contec Medical Systems Co. Ltd., Omron Corporation, Carefusion Corp., CAS Medical Systems Inc., Opto Circuits India Ltd., Welch Allyn Inc., Spacelabs Healthcare, Meditech Equipment Co. Ltd., Vyaire Medical Inc., Beurer GmbH, Drägerwerk AG & Co. KGaA, ICU Medical Inc., Smiths Medical, Mindray Medical International Limited, Criticare Systems Inc., BPL Medical Technologies, ChoiceMMed America Co. Ltd., Beijing Choice Electronic Technology Co. Ltd., Creative Medical, Edan Instruments Inc., Heal Force Bio-Meditech Holdings Limited, Mediana Co. Ltd., Medlab Clinical Ltd.

What emerging trends are influencing the growth of the pulse oximeter market?

Significant players in the pulse oximeter market are prioritizing technological advancements, such as pulse oximeters with cellular connectivity, to improve patient surveillance and data gathering. A cellular-connected pulse oximeter is a version of the device outfitted with features for cellular data transmission, facilitating wireless data transfer over cellular networks, like 4G or 5G, to health professionals or cloud health platforms. For example, Prevounce Health LLC, a US-based remote monitoring platform developer, introduced the Pylo OX1-LTE, a cellular-connected pulse oximeter purposed for Remote Patient Monitoring (RPM), in August 2024. Focusing on patients with chronic respiratory diseases like COPD and asthma, and individuals infected with COVID-19, the device offers dependable cellular connectivity, precise SpO2 and pulse rate measurement, and an intuitive design with a clear OLED display. It merges effortlessly with Prevounce’s remote care management platform and can connect to third-party health software via the Pylo cloud API.

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Which regions are most influential in expanding the pulse oximeter market?

North America was the largest region in the pulse oximeter market in 2024. The regions covered in the pulse oximeter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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