Report Overview

Global Smart Pulse Oximeters Market- Industry Trends & Forecast Report 2028

The global smart pulse oximeters market was worth USD 1,206.9 million in 2021 and is further projected to reach USD 1,973.3 million by the year 2028, growing at a CAGR of 7.4% during the forecast period (2022-2028). Rapid technological advancements in the medical industry and increasing penetration of smartphones are emerging as the major driving factors for the global smart pulse oximeters market. Additionally, the increasing geriatric population and the expanding need for home-care, especially after the COVID-19 pandemic outbreak, is anticipated to boost the market growth during the forecast period.

Smart Pulse Oximeters - Overview

A pulse oximeter measures oxygen saturation in the red blood cells (spO2) using a small device that clips to the finger or earlobe. This device is used for measuring how well one’s heart functions in sending oxygen to different parts of the body far from the heart, such as the arms and legs. Likewise, smart pulse oximeters are technologically advanced medical devices that are used for checking health vitals. These devices use infrared light for measurement and are connected to smartphones or laptops to transfer data.

Global Smart Pulse Oximeters Market Forecast and Trends

Growth Drivers

Increasing Prevalence of Chronic Diseases

There is an increasing prevalence of various cardiovascular diseases and respiratory disorders such as asthma, COPD, and sleep disorder such as apnea and hypopnea, which are contributing to the growth of the global smart pulse oximeters market. These diseases directly affect blood oxygen levels and can cause severe hypoxemia (low blood oxygen levels). Thus, smart pulse oximeters are increasingly being used to continuously monitor oxygen levels and prevent emergency situations.

Growing Smartwatch Integration

Due to the increasing demand for smart pulse oximeters and the penetration of smartphones, manufacturers are integrating these two devices. The integration of smart pulse oximeters with smartphones help patients to record, track, as well as access their blood oxygen levels in real-time. Furthermore, it allows them to send their vitals via their smartphones to their healthcare professionals and seek medical attention. Due to such benefits, the global smart oximeters market is projected to flourish at a high rate during the forecast period.

Restraints

High Cost of Reusable Smart Pulse Oximeters

The high cost of smart pulse oximeters acts as a major restraint to its market growth. On average, smart pulse oximeters range around USD 70 to USD 250 for reusable or continuous monitoring sensors. A large part of its cost can be attributed to the use of advanced technologies, such as infrared and sensors. This limits its adoption, especially in home care settings. Furthermore, the lack of reimbursement policies for these medical devices, especially in emerging economies, further hinders their demand.

Impact of COVID-19 on the Global Smart Pulse Oximeters Market

Smart pulse oximeters witnessed tremendous growth after the COVID-19 pandemic outbreak. The demand for smart pulse oximeters spiked in hospitals as well as in home care settings owing to the pandemic. The COVID-19 virus severely impacted the functioning of the lungs, and many affected patients experienced low blood oxygen levels. Therefore, smart pulse oximeters were used to monitor these patients and transmit the data without requiring physical contact with the healthcare workers. This also helped in ensuring the safety of frontline healthcare workers.

Global Smart Pulse Oximeters Market - By Product Type

Based on product types, the global smart pulse oximeters market is segmented into finger pulse oximeters, handheld pulse oximeters, wrist pulse oximeters, wireless pulse oximeters, and others. The finger pulse oximeters segment held the largest market share in 2021. The increasing use of smart pulse oximeters in hospitals is fueling the growth of the finger pulse oximeters segment. However, the wrist pulse oximeters segment is projected to witness the highest growth rate during the forecast period owing to its increasing integration in smartwatches.

Global Smart Pulse Oximeters Market - By End-User

Based on end-users, the global smart pulse oximeters market is grouped into hospitals & clinics, ambulatory surgical centers, and home healthcare segment. The hospitals & clinics segment accounts for the largest market share owing to its widespread use in monitoring oxygen levels in COVID-19 patients. Patients with COVID-19 and other health conditions that affect oxygen levels first visit hospitals for diagnosis and treatment; thus, the demand for smart pulse oximeters is high in this segment.

Global Smart Pulse Oximeters Market - Regional Insights

Geographically, the smart pulse oximeters market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. North America dominates the smart pulse oximeters market due to the presence of developed healthcare infrastructure and easy accessibility to medical services in developed countries, such as the US and Canada. Furthermore, the increasing prevalence of heart-associated medical conditions is surging at a high rate in North America, which is anticipated to boost the market growth during the forecast period.

Global Smart Pulse Oximeters Market- Competitive Landscape

The leading market players in the smart pulse oximeters market are Contec Medical Systems Co., Ltd., GE Healthcare, Halma PLC, Koninklijke Philips N.V., Masimo Corporation, Smiths Group PLC, Medtronic PLC, Omron Corporation, Nihon Kohden Corporation, Nonin Medical, Inc., Beurer GmbH, iHealth Labs Inc., Mindray, Shenzhen Creative Industry Co. Ltd., HealthSense, Dr Trust, K Life Health Care, Beijing Choice Electronic Tech Co., Ltd., and other prominent players.

The global pulse oximeters market is extremely competitive due to the presence of various global and regional market players. Global companies, such as Philips, GE Healthcare, Masimo, etc., dominate the market. However, regional players have also received significant growth opportunities after the COVID-19 pandemic outbreak. The companies significantly invest in research and development activities to boost the accuracy of their products. They also prominently adopt competitive strategies such as partnerships, mergers, acquisitions, joint ventures, etc., to stay ahead in the market.

Recent Development

• In December 2021, Smart Meter, a US-based medical device company, announced its partnership with A&D medical to develop and deliver remote patient-monitoring system including smart pulse oximeters, that use advanced cellular-enabled technology.

Scope of the Report

By Product Type

• Finger Pulse Oximeters
• Handheld Pulse Oximeters
• Wrist Pulse Oximeters
• Wireless Pulse Oximeters
• Other

By End-User

• Hospitals & Clinics
• Ambulatory Surgical Centers
• Home Healthcare

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Key Market Segments
2. Research Methodology
   1. Qualitative Research
   2. Methodology
   3. Regional Split of Primary & Secondary Research
   4. Secondary Research
   5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
   6. Market Size Estimation
   7. Assumptions for the Study
   8. Market Breakdown & Data Triangulation
3. Executive Summary
4. Industry Insight and Growth Strategy
   1. Value Chain Analysis
   2. DROC Analysis
      1. Market Drivers
         1. Increasing Prevalence of Chronic Diseases
         2. Surging Integration with Smartwatches
      2. Market Restraints
         1. High Cost of Reusable Smart Pulse Oximeters
      3. Market Challenges
         1. Limited Awareness of Consumers Towards Smart Pulse Oximeters
      4. Market Opportunity
         1. Expanding Online Sales Channels
         2. Increasing Demand for Home Care Settings
   3. Recent Developments
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
5. Smart Pulse Oximeters Market Overview
   1. Market Size & Forecast by Value, 2018-2028
   2. Market Size and Forecast, By Segment
      1. By Product Type
         1. Finger Pulse Oximeters
         2. Handheld Pulse Oximeters
         3. Wrist Pulse Oximeters
         4. Wireless Pulse Oximeters
         5. Other
      2. By End-User
         1. Hospitals & Clinics
         2. Ambulatory Surgical Centers
         3. Home Healthcare
      3. By Region
         1. North America
         2. Europe
         3. Asia-Pacific
         4. Latin America
         5. Middle East & Africa
6. North America Smart Pulse Oximeters Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2021-2028
   2. Market Share and Forecast
      1. By Product Type
      2. By End-User
      3. By Country
         1. U.S.
         2. Canada
7. Europe Smart Pulse Oximeters Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2021-2028
   2. Market Share and Forecast
      1. By Product Type
      2. By End-User
      3. By Country
         1. Germany
         2. U.K.
         3. Russia
         4. France
         5. Italy
         6. Spain
         7. Rest of Europe
8. APAC Smart Pulse Oximeters Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2021-2028
   2. Market Share and Forecast
      1. By Product Type
      2. By End-User
      3. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Rest of APAC
9. LATAM Smart Pulse Oximeters Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2021-2028
   2. Market Share and Forecast
      1. By Product Type
      2. By End-User
      3. By Country
         1. Mexico
         2. Brazil
         3. Rest of LATAM
10. MEA Smart Pulse Oximeters Market Overview
    1. Market Size and Forecast
       1. By Value (USD Million), 2021-2028
    2. Market Share and Forecast
    3. By Product Type
    4. By End-User
    5. By Country
       1. Saudi Arabia
       2. UAE
       3. South Africa
       4. Rest of MEA
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis (2020)
    3. Competitive Benchmarking By Operating Parameters
12. Impact of COVID-19 on Smart Pulse Oximeters Market
13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. Contec Medical Systems Co., Ltd.
    2. GE Healthcare
    3. Halma PLC
    4. Koninklijke Philips N.V.
    5. Masimo Corporation
    6. Smiths Group PLC
    7. Medtronic plc
    8. Omron Corporation
    9. Nihon Kohden Corporation
    10. Nonin Medical, Inc.
    11. Beurer GmbH
    12. iHealth Labs Inc.
    13. Mindray
    14. Shenzhen Creative Industry Co. Ltd.
    15. HealthSense
    16. Dr Trust
    17. K Life Health Care
    18. Beijing Choice Electronic Tech Co., Ltd.
    19. Other Prominent Players
14. Key Strategic Recommendations

List of Figures

Figure 1: Smart Pulse Oximeters Market Segmentation

Figure 2: Smart Pulse Oximeters Market Value Chain Analysis,

Figure 3: Company Market Share Analysis, 2020

Figure 4: Smart Pulse Oximeters Market Size, By Value (USD Million), 2018-2028

Figure 5: Smart Pulse Oximeters Market Share (%), By Product Type , By Value, 2018-2028

Figure 6: Smart Pulse Oximeters Market Share (%), By End-User, By Value, 2018-2028

Figure 7: Smart Pulse Oximeters Market Share (%), By Region, By Value, 2018-2028

Figure 8: North America Smart Pulse Oximeters Market Size, By Value (USD Million), 2018-2028

Figure 9: North America Smart Pulse Oximeters Market Share (%), By Product Type, By Value, 2018-2028

Figure 10: North America Smart Pulse Oximeters Market Share (%), By End-User, By Value, 2018-2028

Figure 11: North America Smart Pulse Oximeters Market Share (%), By Country, By Value, 2018-2028

Figure 12: Europe Smart Pulse Oximeters Market Size, By Value (USD Million), 2018-2028

Figure 13: Europe Smart Pulse Oximeters Market Share (%), By Product Type , By Value, 2018-2028

Figure 14: Europe Smart Pulse Oximeters Market Share (%), By End-User, By Value, 2018-2028

Figure 15: Europe Smart Pulse Oximeters Market Share (%), By Country, By Value, 2018-2028

Figure 16: the Asia-Pacific Smart Pulse Oximeters Market Size, By Value (USD Million), 2018-2028

Figure 17: the Asia-Pacific Smart Pulse Oximeters Market Share (%), By Product Type, By Value, 2018-2028

Figure 18: the Asia-Pacific Smart Pulse Oximeters Market Share (%), By End-User, By Value, 2018-2028

Figure 19: Asia-Pacific Smart Pulse Oximeters Market Share (%), By Country, By Value, 2018-2028

Figure 20: Latin America Smart Pulse Oximeters Market Size, By Value (USD Million), 2018-2028

Figure 21: Latin America Smart Pulse Oximeters Market Share (%), By Product Type, By Value, 2018-2028

Figure 22: Latin America Smart Pulse Oximeters Market Share (%), By End-User, By Value, 2018-2028

Figure 23: Latin America Smart Pulse Oximeters Market Share (%), By Country, By Value, 2018-2028

Figure 24: Middle East & Africa Smart Pulse Oximeters Market Size, By Value (USD Million), 2018-2028

Figure 25: Middle East & Africa Smart Pulse Oximeters Market Share (%), By Product Type, By Value, 2018-2028

Figure 26: Middle East & Africa Smart Pulse Oximeters Market Share (%), By End-User, By Value, 2018-2028

Figure 27: Middle East & Africa Smart Pulse Oximeters Market Share (%), By Region, By Value, 2018-2028

List of Tables

Table 1: Smart Pulse Oximeters Market Size, By Product Type , By Value, 2018-2028

Table 2: Smart Pulse Oximeters Market Size, By End-User, By Value (USD Million), 2018-2028

Table 3: Smart Pulse Oximeters Market Size, By Region, By Value (USD Million), 2018-2028

Table 4: North America Smart Pulse Oximeters Market Size, By Product Type , By Value (USD Million), 2018-2028

Table 5: North America Smart Pulse Oximeters Market Size, By End-User, By Value (USD Million), 2018-2028

Table 6: North America Smart Pulse Oximeters Market Size, By Country, By Value (USD Million), 2018-2028

Table 7: Europe Smart Pulse Oximeters Market Size, By Product Type , By Value (USD Million), 2018-2028

Table 8: Europe Smart Pulse Oximeters Market Size, By End-User, By Value (USD Million), 2018-2028

Table 9: Europe Smart Pulse Oximeters Market Size, By Country, By Value (USD Million), 2018-2028

Table 10: the Asia-Pacific Smart Pulse Oximeters Market Size, By Product Type, By Value (USD Million), 2018-2028

Table 11: the Asia-Pacific Smart Pulse Oximeters Market Size, By End-User, By Value (USD Million), 2018-2028

Table 12: the Asia-Pacific Smart Pulse Oximeters Market Size, By Country, By Value (USD Million), 2018-2028

Table 13: Latin America Smart Pulse Oximeters Market Size, By Product Type , By Value (USD Million), 2018-2028

Table 14: Latin America Smart Pulse Oximeters Market Size, By End-User, By Value (USD Million), 2018-2028

Table 15: Latin America Smart Pulse Oximeters Market Size, By Country, By Value (USD Million), 2018-2028

Table 16: The Middle-East & Africa Smart Pulse Oximeters Market Size, By Product Type, By Value (USD Million), 2018-2028

Table 17: The Middle-East & Africa Smart Pulse Oximeters Market Size, By End-User, By Value (USD Million), 2018-2028

Table 18: The Middle-East & Africa Smart Pulse Oximeters Market Size, By Country, By Value (USD Million), 2018-2028

Table 19: Contec Medical Systems Co., Ltd. Financial Analysis

Table 20: Contec Medical Systems Co., Ltd. Business Overview

Table 21: GE Healthcare Financial Analysis

Table 22: GE Healthcare Business Overview

Table 23: Halma PLC Corporation Financial Analysis

Table 24: Halma PLC Corporation Business Overview

Table 25: Koninklijke Philips N.V. Financial Analysis

Table 26: Koninklijke Philips N.V. Business Overview

Table 27: Masimo Corporation Financial Analysis

Table 28: Masimo Corporation Business Overview

Table 29: Smiths Group PLC Financial Analysis

Table 30: Smiths Group PLC Business Overview

Table 31: Medtronic plc Financial Analysis

Table 32: Medtronic plc Business Overview

Table 33: Omron Corporation Financial Analysis

Table 34: Omron Corporation Business Overview

Table 35: Nihon Kohden Corporation Financial Analysis

Table 36: Nihon Kohden Corporation Business Overview

Table 37: Nonin Medical, Inc. Financial Analysis

Table 38: Nonin Medical, Inc. Business Overview

Table 39: Beurer GmbH Financial Analysis

Table 40: Beurer GmbH Financial Analysis

Table 41: iHealth Labs Inc. Financial Analysis

Table 42: iHealth Labs Inc. Financial Analysis

Table 43: Mindray Financial Analysis

Table 44: Mindray Financial Analysis

Table 45: Shenzhen Creative Industry Co. Ltd. Financial Analysis

Table 46: Shenzhen Creative Industry Co. Ltd. Financial Analysis

Table 47: HealthSense Financial Analysis

Table 48: HealthSense Financial Analysis

Table 49: Dr Trust Financial Analysis

Table 50: Dr Trust Financial Analysis

Table 51: K Life Health Care Financial Analysis

Table 52: K Life Health Care Financial Analysis

Table 53: Beijing Choice Electronic Tech Co., Ltd. Financial Analysis

Table 54: Beijing Choice Electronic Tech Co., Ltd. Financial Analysis