Smart Pulse Oximeters Market Size, Share & Industry Trends Analysis Report By Type, By End User (Hospitals & Clinics, Ambulatory Surgical Centers, and Home Environment), By Regional Outlook and Forecast, 2022-2028

The Global Smart Pulse Oximeters Market size is expected to reach $2.4 billion by 2028, rising at a market growth of 7.6% CAGR during the forecast period.

A cold light source is made to shine through the fingertip by a pulse oximeter, causing the tip to appear red. The device calculates the proportion of oxygen in the red blood cell by examining the light from the light source that travels through the finger. The pulse oximeter takes a quick reading of the body's oxygen saturation level without the use of needles or a blood sample. The detected amount on the screen represents the oxygen saturation of the red blood cells. This number informs doctors and nurses about the course of treatment.



The oxygen level may also be used to determine whether the patient requires additional oxygen. This saturation level (a good number is expected to be over 90-92 percent) is different from the pO2 value (a good number is expected to be over 60-65 percent), which is determined by drawing blood from an artery. The doctor can explain the relevance of the worth in relation to the condition.

If done correctly, one can expect a straightforward, quick, and safe measurement of their body's oxygen saturation level. The probe will be positioned, and the oximeter will produce a reading of the heart rate and oxygen saturation level within a few seconds, as shown in the image above. In oximetry measurement, there are no needles and no pain. Disposable tape probes that wrap around the finger, nose, or toe are also used in some hospitals.

Smart health applications are still a developing market, requiring high performance, low power, and high integration in a variety of medical solutions. A pulse oximeter is a small electronic device that detects a person's oxygen saturation level or the amount of oxygen in their blood. It is a vital gadget for monitoring the health of people who have any ailment that can alter their blood oxygen levels.

COVID-19 Impact Analysis

With the commencement of the COVID-19 pandemic, at-home pulse oximeters became popular as a way to track prospective symptoms. Because the virus frequently targets the lungs and the cardiovascular system, anyone infected is likely to have shortness of breath or difficulty breathing.

With a pulse oximeter, physicians can keep a careful eye on someone's condition and see when their oxygen levels start to drop dangerously low. The device enables someone who is self-isolating to gain a better understanding of these situations and determine whether or not it is time to seek professional medical help. As a result, the demand for pulse oximeters has recently increased, with more people including them in their first-aid kits and medicine cabinets.

Market Growth Factors

Integration of Smart Pulse Oximeters with Smart Watches

During the pandemic, affordable finger clamp pulse oximeters became a common household item. Modern gadgets can operate while still attached to the wrist, but they require users to remain completely still for several seconds in order to perform a single on-the-spot examination. Most modern watches and fitness trackers contain sensors that can detect the pulse and sleep. If one is looking to enhance their exercise game, a fitness tracker with a pulse oximeter can help. Since blood oxygen saturation levels can indicate how well individuals handle increasing activity, this is a good idea. If users overdo it, for example, their levels may decrease to dangerously low levels, warning that they should ease up. It's also a must-have sensor for alpine climbers who venture to higher altitudes where the air is thinner.

Rising Incidence of COPD Diseases

Chronic Obstructive Pulmonary Disease (COPD) is the third most common cause of death worldwide. COPD is defined by a chronic inflammatory response in the airways and lung tissue to toxic particles or gases, which is often progressive. COPD is characterized by a combination of parenchymal damage (emphysema) and small airway illness (obstructive bronchiolitis), the relative presence of which varies from person to person. COPD affected more than 300 million people in 2013, according to projections from the Global Burden of Disease Study. The disease load and its monetary impact are expected to rise as the population ages. The prevalence of COPD has been recorded in several pieces of research. COPD is more common in men than in women in European adult populations over 40 years old, with a prevalence of 15-20 percent.

Market Restraining Factors

Barriers to Entry of New Players Due to High Competitiveness

Many established pulse oximeter manufacturers are introducing new features to differentiate their devices from those of their competitors. In comparison to new players and startups, established players invest significantly in product R&D. As a result, new entrants are continuously under pressure to improve product features and quality. To overcome such obstacles, new players frequently employ lower pricing techniques, lowering their profit margins. Innovative technologies, such as the SET technology used by Masimo (US) in its pulse oximeters, are noted for their accuracy in measuring blood oxygen levels even when perfusion is low or while the patient is moving. Pulse oximeters based on these technologies are frequently recommended for patients with critical congenital heart disorders (CCHD), particularly neonates with CCHD who have inadequate perfusion.

Type Outlook

Based on Type, the market is segmented into Fingertip, Hand held, Wrist worn, and Pediatric. The fingertip segment acquired the largest revenue share in the smart pulse oximeters market in 2021. This is due to the increased deployment of fingertip oximeter devices for continuous patient monitoring during the COVID-19 pandemic. These devices are do not hurt the budget of the consumer as they are relatively cheap.

End User Outlook

Based on End User, the market is segmented into Hospitals & Clinics, Ambulatory Surgical Centers, and Home Environment. The home environment segment procured a substantial revenue share in the smart pulse oximeters market in 2021. This is due to increased awareness of self-monitoring in health management and the availability of affordable smart pulse oximeters, the home environment sector is likely to develop significantly during the projection period. Pulse oximeters for home use aren't a new phenomenon, but as COVID-19 places a greater emphasis on health and safety, more people are looking for ways to improve their health management.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America acquired the largest revenue share in the smart pulse oximeters segment in 2021. The substantial share of the North American market is due to an increase in the number of geriatrics in the coming years, as well as an increase in the prevalence of respiratory disorders as a result. Furthermore, technical improvements in pulse oximeters, as well as the presence of superior healthcare infrastructure in the United States and Canada, are propelling the pulse oximeters market in the area forward.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Masimo Corporation. Koninklijke Philips N.V., Medtronic PLC, Omron Corporation, Smiths Group PLC, Contec Medical Systems Co., Ltd., Meditech Equipment Co .,Ltd (Meditech Group), Nonin Medical, Inc., Promed Technology Co., Ltd., and Tenko Medical System Corp.

Strategies deployed in Smart Pulse Oximeters Market

• Jun-2022: Masimo Corporation released the W1 health watch, a watch developed to offer continuous monitoring of multiple health parameters - including oxygen saturation (SpO2), pulse rate, perfusion index, PVi, and respiration rate, alongside step count and fall detection. Masimo aimed to bring its knowledge in medical monitoring, connectivity, and automation to consumers wanting to take control of their health, including those wanting to fine-tune their athletic training and recovery, the quality of their sleep, and their overall physiological status.
• Dec-2021: Medtronic received FDA approval for its INVOS 7100 cerebral/somatic oximetry system. The platform offers continuous, noninvasive readings of organ-specific regional blood oxygen levels in four site-specific areas selected by the care team, along with oxygen saturation from vascular beds to examine organs individually or in combination to track brain/body perfusion shifts.
• Mar-2021: Nonin Medical launched a single-use wristband and a sensor for use with Nonin’s WristOx2 3150 wrist-worn pulse oximeter (SpO2). The WristOx2 Bluetooth and USB models feature Nonin PureSAT SpO2 technology and offer quick and precise oxygen saturation and pulse rate readings, even in difficult conditions like low perfusion and motion, regardless of skin pigmentation. The WristOx2 is compatible with a broad range of Nonin PureLight® LED sensors, including the newest single-use sensor, and gives persistent, dependable SpO2 monitoring and data recording.
• Feb-2021: Masimo released updates to its award-winning iSpO2 pulse oximeter and the iSpO2 app and made it available on the Android platform. With this update, Masimo aimed to make its product accessible to a large number of Android users. The updates enabled Android users to have access to Masimo SET Measure-through Motion and Low PerfusionTM pulse oximetry - the same technology used in leading hospitals worldwide.
• Jan-2021: Masimo launched Dual SET Pulse Oximetry for Root, a very versatile patient monitoring and connectivity hub. The first application of Dual SET is a substantial improvement to Masimo SET-guided critical congenital heart disease (CCHD) screening. This integrated solution improved the automation of newborn screenings using Dual SET Oximetry: two simultaneous measurements of oxygen saturation (SpO2) at pre-and post-ductal sites by the intuitive Eve application, customized to align with a hospital’s CCHD screening protocol.
• Jul-2020: Nonin Medical received FDA approval for its CO-Pilot wireless handheld multiparameter system (H500). The handheld device can concurrently monitor patient pulse oximetry (SpO2), pulse rate, carboxyhemoglobin (COHb), and methemoglobin (MetHb). An additional sensor can be utilized to measure cerebral and tissue oximetry (rSO2). CO-Pilot system can calculate brain and tissue oxygenation when administering CPR to patients who go through out-of-hospital cardiac arrest (OHCA).
• May-2020: Masimo formed a partnership with Royal Philips, a Dutch multinational conglomerate corporation. Under the partnership, Philips integrated additional Masimo measurement technologies into select IntelliVue MX-series multi-parameter monitors, to help clinicians examine cerebral oximetry and ventilation status.
• Aug-2018: Koninklijke Philips completed the acquisition of Xhale Assurance Inc., a U.S.-based scale-up company developing and commercializing next-generation sensor technologies. Xhale Assurance’s disposable pulse oximetry sensor is situated on the wing of the nose, and can accurately measure and transmit a patient’s heart rate and blood oxygenation under low-perfusion conditions that are difficult for traditional fingertip pulse oximetry sensors. This technology widened and differentiated its existing portfolio of oxygen saturation tracking solutions and enabled the company to expand into a currently underserved clinical segment.

Scope of the Study

Market Segments Covered in the Report:

By Type

• Fingertip
• Hand held
• Wrist worn
• Pediatric

By End User

• Hospitals & Clinics
• Ambulatory Surgical Centers
• Home Environment

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

• Masimo Corporation
• Koninklijke Philips N.V.
• Medtronic PLC
• Omron Corporation
• Smiths Group PLC
• Contec Medical Systems Co., Ltd.
• Meditech Equipment Co .,Ltd (Meditech Group)
• Nonin Medical, Inc.
• Promed Technology Co., Ltd.
• Tenko Medical System Corp

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