Demand for Pulse Oximeters and Impact of COVID-19……..


The global pulse oximeters market size is expected to reach USD 3.2 billion by 2027, expanding at a CAGR of 6.4%, based on a new report by Grand View Research, Inc. Technological advancement in design and development of pulse oximeter is expected to boost market growth during the forecast period. Market players are introducing devices that are more compact, portable, ease to use, accurate, and efficient. For instance, in May 2020, Masimo received FDA clearance for its first tetherless SET pulse oximeter, Radius PPG.
With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.
Oxygen saturation monitors are conventionally used in pre and postsurgical settings. They are used during surgeries when patients are anesthetized. Increase in number of surgeries being performed and focus on patient safety are among the key factors responsible for increased use of the medical device during most procedures. These devices are purchased once and require servicing, without the need for frequent replacement. The use of oxygen saturation monitors in newborn screening can boost the demand and procurement of these devices by hospitals for maternity and pediatric care divisions.
The market is fragmented with the presence of various global and regional manufacturers. The market potential is driving numerous players to expand their market share through acquisitions. Larger players tend to acquire sections suitable for their product portfolio. For instance, in April 2020, Edwards Lifesciences Corporation acquired COSMED in a USD.0 100 million deal. The acquisition was made to combine COSMED’s FORE-SIGHT technology with Edward Lifesciences HemoSphere, an advanced hemodynamic monitoring platform.
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Pulse Oximeters Market Report Highlights
·         The sale of fingertip pulse oximeters has witnessed a significant spike since the first week of March 2020 due to COVID-19 pandemic
·         Handheld pulse oximeters are expected to be in high demand during the COVID-19 pandemic, as these devices are more accurate and come with probes that can be used for individual patients to limit spread of the virus
·         There is an upward trend in the use of oxygen saturation monitors in homecare settings due to expansion of the homecare market. Hospices and nursing care centers are procuring the medical device to provide better care to their patients
·         North America held the largest share in the market in 2020. Demand for oxygen saturation monitors is increasing in U.S. and Canada due to high prevalence of Congenital Heart Diseases (CHD) in infants
·         In Asia Pacific, the market is anticipated to witness significant growth during the forecast period. In countries such as Australia and New Zealand, oxygen saturation monitors are part of the standard patient observation procedures in hospitals and clinics. The device plays a vital role in monitoring and treatment of respiratory diseases in newborns and adults, as it provides independent information for a more comprehensive respiratory assessment
·         The industry is also witnessing mergers, acquisitions, and licensing agreements. For instance in April 2020, Philips Respironics moved the rights for direct sales of pulse oximeter in homecare market to Nonin Medical, an OEM manufacturer.
The global pulse oximeters market size was valued at USD 1.9 billion in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 6.4% from 2020 to 2027. Increasing emphasis on patient safety during anesthesia and demand for consistent vital stats monitoring is expected to drive the growth of the market. Growing awareness about patient monitoring and increase in target disease prevalence are expected to boost market growth over the forecast period.
Government initiatives and availability of new products are expected to further propel market growth in the coming years. Pulse oximetry is mandatory for newborn screening in around 43 states in U.S. It is also gaining popularity in other parts of the world as it can help detect Congenital Heart Defects (CHD) and other heart and respiratory conditions.
Growing prevalence of COPD, sleep apnea, cardiac arrhythmia, ischemic conditions, diabetes, hypertension, hyperlipidemia, and asthma is expected to be a major market driver over the forecast period. Almost 2.7 million neonatal deaths are recorded annually, out of which, 75.0% are from South Asia and Sub‐Saharan Africa. Early detection of hypoxemic neonatal conditions using pulse oximetry can lower the number of neonatal deaths to a large extent. Increased penetration of pulse oximeters is anticipated to aid the situation, especially in developing economies.
Continuous monitoring of respiratory parameters is vital in patients infected with the novel coronavirus. Thus, healthcare professionals are highly dependent on medical devices, such as pulse oximeters and multi-parameter monitors, for diagnosis, treatment, and management of COVID-19 symptoms. Furthermore, WHO guidelines for clinical management of the disease have mentioned oxygen therapy as a major intervention for patients with severe symptoms. Thus, government bodies and healthcare organizations across the world have recommended healthcare facilities to be equipped with medical oxygen systems and pulse oximeters.
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Pulse Oximeters Market Segmentation

Grand View Research has segmented the global pulse oximeters market based on type, end use,:
Pulse Oximeters Type Outlook (Revenue, USD Million, 2016 - 2027)
·         Fingertip
·         Handheld
·         Others
Pulse Oximeters End-use Outlook (Revenue, USD Million, 2016 - 2027)
·         Hospitals and Healthcare Facilities
·         Homecare
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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