North America Pulse Oximeter Market Outlook, 2027

According to the report titled, “North America Pulse Oximeter Market Outlook, 2027” the market in the year of 2021 was valued at USD 0.77 Billion.

Growth in the market is driven by the high prevalence of respiratory diseases in the region, along with the growing geriatric population and the increasing incidence of chronic diseases. The higher adoption of such medical devices is due to the increasing awareness among the people & the caretakers. Post the Covid pandemic, the market is expected to witness market growth of over 6% throughout the forecasted period of 2022-2027. Congenital heart disease is one of the most common birth defects observed in the US. This disease accounts for nearly 30% of infant deaths every year in the country.

\Pulse oximeter screening can be used to detect the abnormality in the first few weeks of life of the infants, thereby avoiding the risk of serious complications. This factor has resulted in making pulse oximetry screening mandatory in newborns before discharge. Disorders like peripheral vascular diseases, peripheral arterial disease, and congenital heart disease in infants affect the pulse negatively. North America has a high occurrence of PAD (peripheral arterial disease). It is reported that the estimated birth prevalence of CHD (congenital heart disease) in the US is nearly 8 to 10 per 1000 live births. The survival rate of patients affected by these diseases majorly depends on their severity, diagnosis time and efficient treatment method. Early diagnosis is a very important factor in reducing the risk of mortality in such cases. These factors are likely to increase the use of pulse oximeters in newborn screening in North America.

Similar to the global trend, the North American market is led by the handheld segment, accounting for a value of around USD 0.4 Billion in the year 2021. Increasing emphasis on patient safety during pandemics and demand for consistent vital stats monitoring is expected to drive the growth of the regional market. When compared to conventional bedside pulse oximeters, portable fingertip devices have the advantages of cost-effectiveness, high portability, ease of use, and battery operation. Through the forecasted period, the fingertip oximeter segment is expected to grow at a rate of almost 9%. Based on end-users, the pulse oximeters market has been segmented into Non-Homecare settings, of which the hospital segment accounts for the largest share of nearly 90% in 2021. This can be attributed to the wide adoption of pulse oximeters for the evaluation of oxygen saturation in patients. Currently, with the surge in Covid-19 cases, there is a rising focus on self-respiratory monitoring, which gave a push for the adoption of the pulse oximeter. This, in turn, is expected to propel the market growth of the revenue from the home end-user segment to a CAGR of over 13% in the next five years.

The surge in the geriatric population and the subsequent increase in the prevalence of respiratory diseases, technological advancements, the presence of advanced healthcare infrastructure in the US and Canada, and the increased funding for research and development are also driving the growth of the pulse oximeters market in the region. The US dominates the regional market, while all the other countries barely make a single-digit contribution in the market. The Food and Drug Administration (FDA) requires that all pulse oximeters marketed for medical use in the United States have been tested and certified. Moreover, the increasing demand for patient monitoring in non-hospital settings with an increasing number of surgical procedures and upcoming opportunities in point-of-care testing is expected to offer significant growth opportunities for market players during the forecast period. Mexico lacks any mandatory norms for newborn screening, yet is one of the largest medical device exporters, with India being its main importer. This factor implies that Mexico can be a potential market to invest in the pulse oximeter market since there are no strict manufacturing regulations for pulse oximeters in Mexico in the projected period.

COVID-19 Impact

The Covid-19 pandemic affected many different industry verticals in the region including the pulse oximeter. The market in the region was affected by the pandemic in a positive manner as the virus affected the respiratory function of the patient. Along with this the early diagnosis of Covid- 19 patients involved observing the oxygen saturation levels, this bolstered the market growth. On the other hand the market was affected negatively by the pandemic owing to the hinderance in the supply chain and issues in production process which were created by the lockdowns and travel restrictions.

Major Companies Included: CASMED (Edwards Lifesciences Corporation ), Covidien (Medtroni PLCc), Koninklijke Philips NV, Nihon Kohden corporation, ICU Medical Inc., Hillrom Services, Inc. Beckton Dickinson and Company, Contec Medical Systems Co. Ltd, Rossmax International Ltd, Spacelabs Healthcare

Considered in the report

• Geography: North America
• Base year: 2021
• Historical year: 2016
• Forecasted year: 2027

Countries covered:

• North America
• USA
• Canada
• Mexico

Aspects covered in the report

• Market Size by Value for the period (2016-2027F)
• Market Share by Product type (Fingertip, Handheld & Others)
• Market Share by End User (Hospital and Health Care Facilities & Home Care)
• Market Share by Country
• Market Share by Company

Intended Audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the medical device industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.