Pulse Oximeter Market Outlook, 2030

Pulse oximeters have become indispensable tools in modern healthcare, providing non-invasive monitoring of blood oxygen saturation levels. The journey of pulse oximetry began in the mid-1800s with the discovery of hemoglobin and its role in oxygen transport. Early methods were crude and invasive, but significant advancements were made by pioneers like Karl Matthes, Glenn Millikan, and Takuo Aoyagi, who developed the first practical pulse oximeters in the 1970s2. These devices have since evolved into the compact, user-friendly models we see today, capable of providing real-time data with remarkable accuracy. Hypoxemia is a condition where oxygen in the blood of a person decreases.

If not detected and treated at an early stage it can lead to acute respiratory failure. Pulse oximeters help in monitoring the oxygen saturation in the blood. Hypoxemia can be caused due to anemia, asthma, bronchitis, Acute Respiratory Distress Syndrome (ARDS), congestive heart failure, and others. The increasing prevalence of these diseases has been fueling the demand for the product in hospitals and homecare settings. For instance, as per data published by the Journal of Cardiac Failure in 2023, 6.7 million Americans aged 20 and above suffered from heart failure. This number is expected to rise to 8.5 million by 2030. Technological advancements in pulse oximeters have made them more accurate and cost-effective, driving market demand. Traditional pulse oximeters use transmittance technology, where light passes through tissue. In contrast, reflectance pulse oximetry measures light reflected from tissue, allowing more flexible placement, including on the forehead and chest, which is particularly useful for patients with poor peripheral circulation. The COVID-19 pandemic further highlighted the importance of pulse oximeters, leading to widespread use in both clinical and home settings for monitoring oxygen levels in patients.

According to the research report 'Global Pulse Oximeter Market Outlook, 2030,', the Global Pulse Oximeter market was valued at more than USD 3.95 Billion in 2024, and expected to reach a market size of more than USD 5.60 Billion by 2030 with the CAGR of 6.12% from 2025-2030. A Pulse Oximeter is a small, lightweight & noninvasive device used to monitor the oxygen level in the body. Usually attached to fingertips, this device assesses the pulse rate & displays the oxygen percentage and the current pulse rate. This market value achieved is majorly due to advent of cardiovascular diseases which is the number one cause of death globally, taking an estimated 18 million lives each year.

Coupled with this the rise in the population of the geriatric demography have helped the market grow. Additionally the growing prevalence of breathing disorders and diseases like asthma, hyperlipidemia, hypertension, diabetes, ischemic conditions, cardiac arrhythmia, sleep apnea, COPD, etc. have been a major market driver for the Pulse Oximeter industry. The increasing incidence of respiratory disorders, fueled by factors such as overconsumption of alcohol & tobacco, sedentary lifestyles, unhealthy diets, and obesity, is expected to drive demand for technologically advanced pulse oximeters. For instance, statistics from the American College of Allergy, Asthma & Immunology in June 2023, indicate that approximately 7.7% of Americans suffer from asthma. Furthermore, the following figure depicts the projected proportion of deaths attributed to leading respiratory causes, highlighting the critical need for advanced monitoring technologies in healthcare settings. The availability of sophisticated healthcare infrastructure in the USA and Canada, as well as technological advancements in pulse oximeters significantly contribute to the expansion of the market in the area. The growth in market share of the region is also attributed to the well-developed infrastructure, adoption of pulse oximeters in households, rising incidence of chronic diseases and heart patients, and increase in healthcare spending.

Market Drivers

Increasing Prevalence of Respiratory and Cardiovascular Diseases: The rise in chronic diseases, particularly respiratory disorders (such as asthma, COPD, and COVID-19) and cardiovascular diseases (such as heart failure), is one of the key drivers for the pulse oximeter market. Pulse oximeters are critical in monitoring oxygen saturation (SpO2) levels in patients with these conditions, enabling timely interventions and reducing mortality. This demand is particularly high in hospitals, clinics, and home care settings, where continuous monitoring is crucial for managing patients with these diseases.

Technological Advancements and Product Innovations: Technological developments in pulse oximeter devices, such as the integration of sensors, wireless connectivity, and non-invasive monitoring systems, are propelling the market. Modern oximeters are becoming more user-friendly, accurate, and compact, with many devices now offering features such as Bluetooth integration for syncing with smartphones or healthcare systems. These innovations enhance the patient experience, make it easier for healthcare providers to monitor patients remotely, and offer better data analytics.

Market Challenges

Accuracy and Calibration Issues: One of the significant challenges faced by the pulse oximeter market is the accuracy of readings, especially in patients with darker skin tones, low blood pressure, or those who are critically ill. Pulse oximeter devices sometimes provide inaccurate oxygen saturation readings under certain conditions, such as during motion, low perfusion, or in low light environments. This can lead to false positives or negatives, affecting patient safety and the overall reliability of the device.

High Cost and Affordability Issues: Although the pulse oximeter market has seen growth, the high cost of advanced models, particularly those with additional features (e.g., fingertip pulse oximeters with Bluetooth or advanced sensors), limits widespread adoption in low-income regions or among economically disadvantaged populations. This can hinder market penetration, especially in emerging economies where affordable medical equipment is crucial.

Market Trends

Integration of Pulse Oximeters with Telemedicine and Remote Patient Monitoring: Telemedicine and remote patient monitoring are rapidly growing, with pulse oximeters being a key component. These devices are increasingly being used in conjunction with telemedicine platforms to enable healthcare professionals to monitor patients' oxygen levels in real-time, even from remote locations. As telehealth continues to expand, the integration of pulse oximeters into remote monitoring systems is becoming a major trend, enabling more efficient management of chronic conditions and post-surgery recovery.

Growth in Home Healthcare: With a growing preference for home healthcare due to convenience, cost savings, and the ongoing shift towards outpatient care, pulse oximeters are increasingly being used for home health monitoring. The rise in elderly populations and the increasing demand for home care services are driving the market for home-use pulse oximeters. Many patients with chronic diseases are opting for home-based monitoring, which includes the use of portable pulse oximeters to track their oxygen levels regularly.

Fingertip pulse oximeters are leading the global pulse oximeter industry due to their affordability, portability, ease of use, and widespread application in both clinical and home settings.

Fingertip pulse oximeters have emerged as the dominant device in the pulse oximeter industry for several key reasons, primarily their affordability, portability, ease of use, and versatility in both clinical and home healthcare applications. These small, lightweight devices are designed to measure oxygen saturation levels in the blood (SpO2) and pulse rate by simply clipping onto a person’s fingertip. Their compact size, user-friendly interface, and relatively low cost make them highly accessible to both healthcare providers and individuals who need to monitor their health regularly, leading to their widespread adoption across various settings.

Fingertip pulse oximeters have emerged as the dominant device in the pulse oximeter industry for several key reasons, primarily their affordability, portability, ease of use, and versatility in both clinical and home healthcare applications. These small, lightweight devices are designed to measure oxygen saturation levels in the blood (SpO2) and pulse rate by simply clipping onto a person’s fingertip. Their compact size, user-friendly interface, and relatively low cost make them highly accessible to both healthcare providers and individuals who need to monitor their health regularly, leading to their widespread adoption across various settings. For clinicians, portability enables easy transport between rooms or even to mobile healthcare units, ensuring that oxygen saturation levels can be monitored quickly and effectively, no matter the location. This portability also contributes to the surge in demand for fingertip oximeters in emerging markets, where individuals may not have consistent access to advanced healthcare infrastructure. The cost of these devices is significantly lower than other types of pulse oximeters, such as those that require specialized probes or continuous monitoring systems. Furthermore, the growing trend of telemedicine has also fueled the demand for such devices, as patients can share their readings remotely with healthcare professionals. This feature is particularly beneficial for patients in rural or underserved areas who might not have easy access to in-person consultations.

Hospitals and clinics are leading the global pulse oximeter industry due to their critical need for accurate, reliable, and continuous patient monitoring in diagnosing and managing a wide range of respiratory and cardiovascular conditions.

Hospitals and clinics are at the forefront of the global pulse oximeter industry because these healthcare institutions rely heavily on precise, real-time data to manage patient care, particularly in respiratory and cardiovascular treatments. Pulse oximeters, which measure oxygen saturation (SpO2) and pulse rate, are vital tools in the medical field for assessing and monitoring patients’ oxygen levels. These devices provide quick and non-invasive results, which are essential for effective diagnosis, treatment, and ongoing patient management. With an increasing emphasis on improving patient outcomes and reducing medical errors, hospitals and clinics have adopted pulse oximeters as indispensable components of their medical equipment.

Pulse oximeters allow for immediate, continuous monitoring of vital signs, providing real-time feedback on a patient’s oxygen saturation and pulse rate without the need for invasive procedures. This makes them an ideal tool for emergency departments (ED), intensive care units (ICU), and operating rooms, where quick decision-making is often required. Their ability to provide non-invasive, real-time monitoring makes pulse oximeters an indispensable tool in preventing patient deterioration during these critical moments. Hospitals and clinics also benefit from the advanced features available in pulse oximeters, such as alarms that alert healthcare providers to changes in oxygen saturation levels, ensuring that timely interventions can take place. Moreover, the integration of pulse oximeters with electronic health records (EHR) systems allows for seamless tracking and documentation of patient data, facilitating better decision-making and improved communication across medical teams. The growing trend of digital health and telemedicine has also led to the incorporation of pulse oximeters into remote monitoring programs, allowing healthcare providers to monitor patients from a distance, particularly in rural areas or for those managing chronic conditions.

The adult age group is leading the global pulse oximeter industry due to the increasing prevalence of chronic respiratory and cardiovascular conditions, which require regular monitoring of oxygen saturation levels for effective management.

Pulse oximeters, which provide a non-invasive, immediate, and accurate measurement of blood oxygen levels and pulse rate, have become essential tools for adults managing these chronic conditions. According to various studies, the risk of heart disease, stroke, and chronic lung diseases increases with age. These conditions often lead to difficulties in breathing or oxygen delivery throughout the body, which in turn makes monitoring oxygen saturation a critical part of their management. Pulse oximeters allow individuals to track their oxygen levels at home, reducing the need for frequent hospital visits and empowering patients to manage their conditions more effectively.

Regular monitoring can help patients identify early signs of deterioration, allowing for timely medical intervention and improving overall health outcomes. For adults with chronic conditions like COPD or asthma, pulse oximeters offer a quick and convenient method of checking oxygen levels, helping individuals determine when they might need to increase oxygen intake or seek medical help. In the case of heart disease, pulse oximeters help healthcare providers assess whether the heart is functioning efficiently and if the body is receiving sufficient oxygen. This frequent monitoring is crucial for managing exacerbations, preventing complications, and maintaining overall health stability. As COVID-19 often causes significant respiratory distress, the ability to monitor oxygen levels at home became a vital tool for adults, particularly those at higher risk, such as the elderly and individuals with pre-existing health conditions. The increased focus on remote patient monitoring and telehealth during the pandemic also drove the adoption of pulse oximeters, as patients could share their oxygen readings with healthcare providers from the safety and comfort of their homes. This trend further contributed to the rising demand for pulse oximeters among adults.

North America leads the global pulse oximeter industry due to its advanced healthcare infrastructure, high adoption of innovative medical technologies, and a growing demand for remote patient monitoring solutions.

North America, particularly the United States and Canada, holds a dominant position in the global pulse oximeter industry, driven by a combination of factors including advanced healthcare infrastructure, high levels of healthcare spending, and a robust regulatory environment. The region has one of the most developed healthcare systems in the world, characterized by cutting-edge medical technologies, highly skilled healthcare professionals, and well-established hospitals and clinics. This environment has fostered the rapid adoption and widespread use of pulse oximeters, which are critical for monitoring oxygen levels in patients with respiratory conditions, cardiovascular diseases, or in post-operative care settings.

North America is home to some of the largest and most influential companies in the medical device sector, such as Medtronic, Philips Healthcare, and Nonin Medical. These companies not only drive innovation but also contribute to the overall growth of the pulse oximeter market by introducing advanced, highly accurate, and user-friendly devices. The region's focus on innovation and research and development (R&D) has led to the creation of next-generation pulse oximeters with enhanced features such as wireless connectivity, integration with smartphones, and the ability to provide real-time monitoring and alerts. The U.S. Food and Drug Administration (FDA) plays a crucial role in ensuring the safety and efficacy of pulse oximeters, which builds consumer trust and confidence in these products. The FDA’s rigorous approval process has helped maintain high standards in the industry, attracting investments and fostering a competitive market that benefits both consumers and healthcare providers.

Recent Development

• In May 2024, Masimo partnered with Medable Inc. to integrate medical-grade wearable devices into clinical research. Medable incorporated Masimo’s MightySat Rx pulse oximeter in its evidence-generation platform for eight large-scale pharmaceutical clinical trials. These trials, involving over 3,000 patients across 25 countries, are focused on two oncology indications: breast and lung cancer.
• In May 2024, Masimo announced FDA clearance for a baby monitoring system, Stork, designed for healthy infants aged 0 to 18 months without the need for a prescription. Stork utilizes the pulse oximetry technology used in Neonatal Intensive Care Units (NICU) to monitor key vital signs such as PR, Oxygen Saturation Level (SpO2), and skin temperature, providing alarms to parents or caregivers.
• In April 2024, Nonin partnered with Medixine to develop remote digital monitoring services to enhance patient-centric diagnosis of chronic conditions. This collaboration integrates Medixine’s remote patient monitoring digital software platform with Nonin’s pulse oximetry devices in the U.S. market.
• In November 2023, Masimo and GE Healthcare partnered to integrate Masimo Signal Extraction Technology (SET) pulse oximetry with the Portrait Mobile wearable and wireless patient monitoring solution by GE Healthcare. This integration allows clinicians to utilize Masimo’s Measure-through Motion and Low Perfusion technology for noninvasive and continuous monitoring of SpO2, enabling them to detect & monitor changes in patient status effectively.
• In June 2022, The Garmin Vivosmart 5 fitness band has been launched in India. The new fitness tracker comes with Women’s health tracking, Heart rate monitoring, body battery energy monitoring, step count, calorie count, stress tracking, and blood oxygen level monitoring.
• In March 2022, the development of remote patient monitoring services for chronic conditions like chronic obstructive pulmonary disease (COPD) and heart disease has been accelerated by Smart Meter's release of the iPulseOxTM. It is one of the first cellular-connected pulse oximeters in the world. Smart Meter is a pioneer in cellular-enabled remote patient monitoring (RPM) data and devices.
• In June 2021, DetelPro releases the Oxy10 pulse oximeter. Users of the DetelPro Oxy10 can immediately review the outcomes thanks to the LED display that is built-in. The pulse oximeter, which displays both oxygen saturation and pulse rate, is small enough to be attached to a fingertip.

COVID-19 Impact

The pandemic affected many different industry verticals across many different regions of the world, while majority of the industry majorly faced negative consequences, the pulse oximeter market was amongst the few to observe a positive effect. This is majorly due to the fact the COVID-19 virus directly affects the respiratory function of the patient which reduces the SPO2 levels.

Early diagnosis of saturation levels proved to be crucial in fighting the virus and provided the pulse oximeter market with an excellent growth. But on the other hand the market suffered with incompetency to provide with the supply for this demand due to hinderance in the supply and production activities across the globe owing to nationwide 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., Microtek international private limited, Rossmax International Ltd, Spacelabs Healthcare.

Considered in the report

• Geography: Global
• Base year: 2024
• Historical year: 2019
• Forecasted year: 2030

Regions & Countries covered

• North America (US, Canada, Mexico)
• Europe (Germany, UK, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle East & Africa (UAE, Saudi Arabia, South Africa)

Aspects covered in the report

• Market Size by Value for the period (2019-2030F)
• Market Share by Product type (Fingertip, Handheld & Others)
• Market Share by End User (Hospital and Health Care Facilities & Home Care)
• Market Share by Region
• Market Share by Country
• Market Share by Company

The approach of the report

We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise.

This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free.

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.

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