Global Smart Pulse Oximeters Market Report and Forecast 2024-2032

Global Smart Pulse Oximeters Market Outlook

The global smart pulse oximeters market size was valued at USD 1.9 billion in 2023, driven by the increasing prevalence of cardiovascular diseases across the globe. The market size is anticipated to grow at a CAGR of 6.3% during the forecast period of 2024-2032 to achieve a value of USD 3.3 billion by 2032.

Smart Pulse Oximeters: Introduction

Smart pulse oximeters are smart devices used to measure oxygen saturated in the bloodstream with a non-invasive method. Smart pulse oximeters are called smart as they have the capability of synchronizing with several smart medical devices including smartphones, tablets, and computers, through Bluetooth or Wi-Fi connectivity. This enables the device to provide real-time data and, in some cases, store historical data for tracking and analysis. The smart pulse oximeters provide features such as oxygen saturation measurement, pulse rate monitoring, and connectivity, supported by multiple smart platforms such as mobile devices, and mobile apps.

Global Smart Pulse Oximeters Market Analysis

The market is driven by new product launches by the market key players enabling the measurement of oxygen saturation and heart rate in infants. The increased FDA approvals for these new products are major trends influencing the market growth. For example, The Food and Drug Administration (FDA) has approved BabySat™, a prescription pulse oximetry device for infants that is designed as a wire-free sock to be worn for at-home monitoring. The device uses pulse oximetry technology to track an infant’s heart rate and oxygen saturation level. When readings fall outside the ranges set by a clinician, BabySat provides an alert to the caregiver. The market is also driven by the increased research and development contributing to the global smart pulse oximeters market growth. For example, BioIntellisense announced the launch of its pulse oximetry device approved by the FDA, an optical sensor that accurately measures blood oxygen levels across the full range of skin colours from light to very dark.

The increasing number of clinical trials in the market is also driving the market growth. For example, an article associated with a study was published on MDPI where a model was used to suggest a mirror-coated ring-type pulse oximeter to enhance the sensitivity by up to 80% and improve power consumption by up to 65% compared to the mirror-uncoated structure. Such studies may result in increasing the adoption of these improved smart pulse oximeters and their utility in various healthcare and monitoring settings. Enhanced sensitivity of these devices can lead to better patient outcomes, greater trust in technology, and a competitive edge for manufacturers in the growing smart pulse oximeter market, further propelling the market growth.

Global Smart Pulse Oximeters Market Segmentations

Market Breakup by Product Type

• Finger Pulse Oximeters

• Handheld Pulse Oximeters

• Wrist Pulse Oximeters

• Wireless Pulse Oximeters

• Other

Market Breakup by End User

• Hospitals and Clinics

• Ambulatory Surgical Centres

• Home Healthcare

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Smart Pulse Oximeters Market Overview

The market growth is majorly driven by the increasing prevalence of cardiovascular diseases. The growing geriatric population is also a major factor contributing to the demand for portable and smart pulse oximeters. The growing technological advancements in the market are contributing to the increased adoption of smart pulse oximeters as they offer several enhanced features helpful in the measurement of oxygen saturation in blood. The market is also driven by the rising prevalence of cardiovascular diseases and associated deaths, further propelling the market growth. The increased product launches by the key players in the market is another factor driving the global smart pulse oximeters market growth, coupled with mergers and acquisitions as well. The demand for smart pulse oximeters is expected to rise due to the rising incidences of cardiovascular disorders among the geriatric population, further boosting the market growth.

Geographically, North America is leading the regional market and is expected to keep leading throughout the forecast period as well. The region is leading due to the surging demand for smart pulse oximeters, especially for the diagnosis of COVID-19 patients.

Global Smart Pulse Oximeters Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Contec Medical Systems Co. Ltd

• Masimo Corporation

• Meditech Equipment Co. Ltd.

• Medtronic

• Nonin Medical Inc.

• Omron Corporation

• Koninklijke Philips N.V

• Promed Technology Co.Ltd

• Smith Group Plc

• Tenko Medical Systems

• GE Healthcare

• Nihon Kohden Corporation

Key Highlights of the Report