Smart Pulse Oximeters Market
Analysts’ Viewpoint
Rise in prevalence of chronic diseases such as COPD and asthma, increase in geriatric population, and growth in adoption of home healthcare devices are driving the global smart pulse oximeters market. Government initiatives to promote pulse oximeters and increase in healthcare expenditure are also augmenting market progress. Surge in popularity of telemedicine and remote patient monitoring is projected to fuel market statistics.
The COVID-19 pandemic has had a significant impact on the smart pulse oximeter market. Demand for pulse oximeters increased substantially during the peak of the pandemic, as the virus primarily affects respiratory functions. Hospitals and clinics have been increasingly purchasing pulse oximeters to monitor patients with COVID-19 and other respiratory illnesses. Manufacturers are focusing on developing portable, compact, and advanced devices to increase their market share.
Smart pulse oximeter is a medical device that measures the blood oxygen level and pulse rate, and sends the information to a connected device such as a smartphone or tablet. These devices are typically used by individuals suffering from chronic respiratory conditions such as COPD or asthma or by athletes and mountaineers who need to monitor their oxygen levels at high altitudes.
Smart pulse oximeters are portable and easy to use. Therefore, they are a convenient option for people who need to regularly monitor their oxygen levels.
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Rise in incidence of cardiovascular and respiratory diseases such as COVID-19 and chronic obstructive pulmonary disease (COPD) is driving the demand for smart pulse oximeters. These devices help monitor important cardiovascular health metrics such as heart rate and blood oxygen levels. This allows individuals with cardiovascular diseases to track their health and make lifestyle changes to manage their condition.
According to the World Health Organization (WHO), cardiovascular diseases (CVDs) are the leading cause of death across the globe, accounting for over 17 million deaths annually. CVDs include a wide range of conditions that affect the heart and blood vessels such as coronary heart disease, stroke, and hypertension. Risk factors for CVDs include smoking, unhealthy diet, lack of physical activity, and high blood pressure.
According to the Global Initiative for Chronic Obstructive Lung Disease (GOLD) report, the prevalence of chronic obstructive pulmonary disease (COPD) was 11.8% in men and 8.5% in women in 2020. The prevalence of COPD is increasing globally. It is estimated to be the fourth leading cause of death worldwide in the near future. Smart oximeters can help monitor oxygen saturation levels in people with COPD, thus enabling the management of the disease.
Advancements in sensor technology have led to the development of more accurate and efficient pulse oximeters. Smart pulse oximeters can be easily connected to smartphones and other digital devices through Bluetooth or Wi-Fi. This allows patients to monitor their oxygen levels and share the data with their healthcare providers remotely.
Smart pulse oximeter is a key component of remote patient monitoring systems and telemedicine platforms. Integration of AI and ML algorithms with smart pulse oximeters helps monitor patients’ oxygen levels. These devices also give real-time alerts in case of abnormal readings.
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Demand for advanced healthcare devices such as smart oximeters is likely to increase during the forecast period, due to the growth in aging population around the globe.
Remote monitoring technology in smart pulse oximeters allows older adults to receive care in their own homes. This helps improve their quality of life and reduce healthcare costs. Furthermore, the geriatric population is more prone to chronic diseases such as COPD and asthma. This is contributing to smart pulse oximeters market growth.
Based on type, the finger pulse oximeter segment is expected to dominate the global smart pulse oximeters market during the forecast period, owing to the ease of usage and portability of these devices.
Finger pulse oximeters are light in weight and easy to carry. They can be used at home, in the hospital, or on the go. Thus, finger pulse oximeters are convenient for patients to monitor their condition regularly and also for healthcare professionals to get the reading at any time. Additionally, the cost of finger pulse oximeters is low. These devices are also widely available across the globe.
Offline mode and online mode are the two market segments of smart pulse oximeters based on distribution channel. The offline mode segment is likely to dominate the industry during the forecast period. It comprises retail medical stores and hospitals.
Older adults and people in rural areas may not have access to or be comfortable with purchasing medical devices online. Hence, offline distribution channels are gaining traction across the globe.
Offline channels also provide customers with an opportunity to physically inspect and handle the product before making a purchase. This can increase consumer confidence and trust in the product. Furthermore, customers get hands-on assistance and training from a healthcare professional on how to properly use and maintain the device. This is driving the offline mode segment
According to the global smart pulse oximeters industry analysis, North America dominated the global smart pulse oximeters market in 2021. It is anticipated to lead in the near future, owing to the increase in geriatric population in the U.S. and Canada.
The region has a highly developed healthcare system, with widespread access to advanced medical technologies and a large number of healthcare professionals. This results in higher awareness about smart pulse oximeters and their benefits among patients and healthcare providers. Furthermore, North America has a large number of key players in the medical device industry. This is positively impacting smart pulse oximeters market share of the region.
Asia Pacific is expected to be the fastest-growing region of the global smart pulse oximeters market. Rise in prevalence of chronic diseases, increase in aging population, and growth in awareness about home healthcare are driving market share of the region. Governments of countries in the region are investing significantly in healthcare infrastructure and promoting the usage of advanced medical technologies. Furthermore, increase in adoption of digital health solutions and growth in trend of telemedicine are expected to fuel market development in Asia Pacific in the near future.
The smart pulse oximeters market forecast report includes profiles of leading players operating in the global market. Koninklijke Philips N.V., Contec Medical Systems Co. Ltd, Meditech Equipment Co. Ltd (Meditech Group), Masimo Corporation, Nonin Medical Inc., Medtronic, Omron Corporation, Promed Technology Co. Limited, Smith Group Plc, and Tenko Medical Systems are some of the prominent market players.
These players are engaged in mergers & acquisitions, strategic collaborations, and new product launches to expand their presence and gain lucrative growth opportunities.
Key players have been profiled in the smart pulse oximeters market growth report based on parameters such as financial overview, company overview, strategies, portfolio, business segments, and recent developments.
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Attribute |
Detail |
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Size in 2021 |
US$ 1.7 Bn |
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Forecast (Value) in 2031 |
More than US$ 2.3 Bn |
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Growth Rate (CAGR) 2022-2031 |
4.6% |
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Forecast Period |
2022–2031 |
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Historical Data Available for |
2017–2021 |
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Quantitative Units |
US$ Bn for Value |
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Market Analysis |
It includes segment analysis as well as regional level analysis. Moreover, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis. |
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Competition Landscape |
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Format |
Electronic (PDF) + Excel |
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Segmentation |
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Regions Covered |
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Countries Covered |
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Companies Profiled |
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Customization Scope |
Available upon request |
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Pricing |
Available upon request |
It was valued at US$ 1.7 Bn in 2021
It is projected to reach more than US$ 2.3 Bn by 2031
The CAGR is anticipated to be 4.6% from 2022 to 2031
The finger pulse oximeter segment accounted for the largest share of 30.0% in 2021
North America is anticipated to account for major share during the forecast period
Koninklijke Philips N.V., Contec Medical Systems Co. Ltd, Meditech Equipment Co. Ltd (Meditech Group)., Masimo Corporation, Nonin Medical Inc., Medtronic, Omron Corporation, Promed Technology Co. Limited, Smith Group Plc, and Tenko Medical Systems
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Smart Pulse Oximeters Market
4. Market Overview
4.1. Introduction
4.1.1. Product Definition
4.1.2. Industry Evolution / Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Smart Pulse Oximeters Market Analysis and Forecast, 2017–2031
4.4.1. Market Revenue Projections (US$ Mn)
4.4.2. Market Volume/Unit Shipments Projections
4.5. Porter’s Five Forces Analysis
5. Key Insights
5.1. Key Mergers & Acquisitions
5.2. Key product/brand Analysis
5.3. Disease Prevalence & Incidence Rate globally with key countries
5.4. Technological Advancements
5.5. COVID-19 Pandemic Impact on Industry (value chain and short/mid/long term impact)
6. Global Smart Pulse Oximeters Market Analysis and Forecast, by Type
6.1. Introduction & Definition
6.2. Key Findings/Developments
6.3. Market Value Forecast, by Type, 2017–2031
6.3.1. Finger Pulse Oximeter
6.3.2. Handheld Pulse Oximeter
6.3.3. Wrist Pulse Oximeter
6.4. Market Attractiveness Analysis, by Type
7. Global Smart Pulse Oximeters Market Analysis and Forecast, by Distribution Channel
7.1. Introduction & Definition
7.2. Key Findings/Developments
7.3. Market Value Forecast, by Distribution Channel, 2017–2031
7.3.1. Offline Mode
7.3.2. Online Mode
7.4. Market Attractiveness Analysis, by Distribution Channel
8. Global Smart Pulse Oximeters Market Analysis and Forecast, by Region
8.1. Key Findings
8.2. Market Value Forecast, by Region
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Latin America
8.2.5. Middle East & Africa
8.3. Market Attractiveness Analysis, by Region
9. North America Smart Pulse Oximeters Market Analysis and Forecast
9.1. Introduction
9.1.1. Key Findings
9.2. Market Value Forecast, by Type, 2017–2031
9.2.1. Finger Pulse Oximeter
9.2.2. Handheld Pulse Oximeter
9.2.3. Wrist Pulse Oximeter
9.3. Market Value Forecast, by Distribution Channel, 2017–2031
9.3.1. Offline Mode
9.3.2. Online Mode
9.4. Market Value Forecast, by Country, 2017–2031
9.4.1. U.S.
9.4.2. Canada
9.5. Market Attractiveness Analysis
9.5.1. By Type
9.5.2. By Distribution Channel
9.5.3. By Country
10. Europe Smart Pulse Oximeters Market Analysis and Forecast
10.1. Introduction
10.1.1. Key Findings
10.2. Market Value Forecast, by Type, 2017–2031
10.2.1. Finger Pulse Oximeter
10.2.2. Handheld Pulse Oximeter
10.2.3. Wrist Pulse Oximeter
10.3. Market Value Forecast, by Distribution Channel, 2017–2031
10.3.1. Offline Mode
10.3.2. Online Mode
10.4. Market Value Forecast, by Country/Sub-region, 2017–2031
10.4.1. Germany
10.4.2. U.K.
10.4.3. France
10.4.4. Italy
10.4.5. Spain
10.4.6. Rest of Europe
10.5. Market Attractiveness Analysis
10.5.1. By Type
10.5.2. By Distribution Channel
10.5.3. By Country/Sub-region
11. Asia Pacific Smart Pulse Oximeters Market Analysis and Forecast
11.1. Introduction
11.1.1. Key Findings
11.2. Market Value Forecast, by Type, 2017–2031
11.2.1. Finger Pulse Oximeter
11.2.2. Handheld Pulse Oximeter
11.2.3. Wrist Pulse Oximeter
11.3. Market Value Forecast, by Distribution Channel, 2017–2031
11.3.1. Offline Mode
11.3.2. Online Mode
11.4. Market Value Forecast, by Country/Sub-region, 2017–2031
11.4.1. China
11.4.2. Japan
11.4.3. India
11.4.4. Australia & New Zealand
11.4.5. Rest of Asia Pacific
11.5. Market Attractiveness Analysis
11.5.1. By Type
11.5.2. By Distribution Channel
11.5.3. By Country/Sub-region
12. Latin America Smart Pulse Oximeters Market Analysis and Forecast
12.1. Introduction
12.1.1. Key Findings
12.2. Market Value Forecast, by Type, 2017–2031
12.2.1. Finger Pulse Oximeter
12.2.2. Handheld Pulse Oximeter
12.2.3. Wrist Pulse Oximeter
12.3. Market Value Forecast, by Distribution Channel, 2017–2031
12.3.1. Offline Mode
12.3.2. Online Mode
12.4. Market Value Forecast, by Country/Sub-region, 2017–2031
12.4.1. Brazil
12.4.2. Mexico
12.4.3. Rest of Latin America
12.5. Market Attractiveness Analysis
12.5.1. By Type
12.5.2. By Distribution Channel
12.5.3. By Country/Sub-region
13. Middle East & Africa Smart Pulse Oximeters Market Analysis and Forecast
13.1. Introduction
13.1.1. Key Findings
13.2. Market Value Forecast, by Type, 2017–2031
13.2.1. Finger Pulse Oximeter
13.2.2. Handheld Pulse Oximeter
13.2.3. Wrist Pulse Oximeter
13.3. Market Value Forecast, by Distribution Channel, 2017–2031
13.3.1. Offline Mode
13.3.2. Online Mode
13.4. Market Value Forecast, by Country/Sub-region, 2017–2031
13.4.1. GCC Countries
13.4.2. South Africa
13.4.3. Rest of Middle East & Africa
13.5. Market Attractiveness Analysis
13.5.1. By Type
13.5.2. By Distribution Channel
13.5.3. By Country/Sub-region
14. Competition Landscape
14.1. Market Player - Competition Matrix (by tier and size of companies)
14.2. Market Share Analysis, by Company, 2021
14.3. Company Profiles
14.3.1. Koninklijke Philips N.V.
14.3.1.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.1.2. Product Portfolio
14.3.1.3. Financial Overview
14.3.1.4. SWOT Analysis
14.3.1.5. Strategic Overview
14.3.2. Contec Medical Systems Co. Ltd.
14.3.2.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.2.2. Product Portfolio
14.3.2.3. Financial Overview
14.3.2.4. SWOT Analysis
14.3.2.5. Strategic Overview
14.3.3. Meditech Equipment Co. Ltd (Meditech Group)
14.3.3.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.3.2. Product Portfolio
14.3.3.3. Financial Overview
14.3.3.4. SWOT Analysis
14.3.3.5. Strategic Overview
14.3.4. Masimo Corporation
14.3.4.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.4.2. Product Portfolio
14.3.4.3. Financial Overview
14.3.4.4. SWOT Analysis
14.3.4.5. Strategic Overview
14.3.5. Nonin Medical Inc.
14.3.5.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.5.2. Product Portfolio
14.3.5.3. Financial Overview
14.3.5.4. SWOT Analysis
14.3.5.5. Strategic Overview
14.3.6. Medtronic
14.3.6.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.6.2. Product Portfolio
14.3.6.3. Financial Overview
14.3.6.4. SWOT Analysis
14.3.6.5. Strategic Overview
14.3.7. Omron Corporation
14.3.7.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.7.2. Product Portfolio
14.3.7.3. Financial Overview
14.3.7.4. SWOT Analysis
14.3.7.5. Strategic Overview
14.3.8. Promed Technology Co. Limited
14.3.8.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.8.2. Product Portfolio
14.3.8.3. Financial Overview
14.3.8.4. SWOT Analysis
14.3.8.5. Strategic Overview
14.3.9. Smith Group Plc
14.3.9.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.9.2. Product Portfolio
14.3.9.3. Financial Overview
14.3.9.4. SWOT Analysis
14.3.9.5. Strategic Overview
14.3.10. Tenko Medical Systems
14.3.10.1. Company Overview (HQ, Business Segments, Employee Strength)
14.3.10.2. Product Portfolio
14.3.10.3. Financial Overview
14.3.10.4. SWOT Analysis
14.3.10.5. Strategic Overview
List of Tables
Table 01: Global Smart Pulse Oximeters Market Value (US$ Mn) Forecast, by Type, 2017–2031
Table 02: Global Smart Pulse Oximeters Market Value (US$ Mn) Forecast, by Distribution Channel, 2017–2031
Table 03: Global Smart Pulse Oximeters Market Value (US$ Mn) Forecast, by Region, 2017–2031
Table 04: North America Smart Pulse Oximeters Market Value (US$ Mn) Forecast, by Type, 2017–2031
Table 05: North America Smart Pulse Oximeters Market Value (US$ Mn) Forecast, by Distribution Channel, 2017–2031
Table 06: North America Smart Pulse Oximeters Market Value (US$ Mn) Forecast, by Country, 2017–2031
Table 07: Europe Smart Pulse Oximeters Market Value (US$ Mn) Forecast, by Type, 2017–2031
Table 08: Europe Smart Pulse Oximeters Market Value (US$ Mn) Forecast, by Distribution Channel, 2017–2031
Table 09: Europe Smart Pulse Oximeters Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
Table 10: Asia Pacific Smart Pulse Oximeters Market Value (US$ Mn) Forecast, by Type, 2017–2031
Table 11: Asia Pacific Smart Pulse Oximeters Market Value (US$ Mn) Forecast, by Distribution Channel, 2017–2031
Table 12: Asia Pacific Smart Pulse Oximeters Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
Table 13: Latin America Smart Pulse Oximeters Market Value (US$ Mn) Forecast, by Type, 2017–2031
Table 14: Latin America Smart Pulse Oximeters Market Value (US$ Mn) Forecast, by Distribution Channel, 2017–2031
Table 15: Latin America Smart Pulse Oximeters Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
Table 16: Middle East & Africa Smart Pulse Oximeters Market Value (US$ Mn) Forecast, by Type, 2017–2031
Table 17: Middle East & Africa Smart Pulse Oximeters Market Value (US$ Mn) Forecast, by Distribution Channel, 2017–2031
Table 18: Middle East & Africa Smart Pulse Oximeters Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
List of Figures
Figure 01: Global Smart Pulse Oximeters Market Value (US$ Mn) Forecast, 2017–2031
Figure 02: Global Smart Pulse Oximeters Market Value Share Analysis, by Type, 2021 and 2031
Figure 03: Global Smart Pulse Oximeters Market Attractiveness Analysis, by Type, 2022–2031
Figure 04: Global Smart Pulse Oximeters Market Value Share Analysis, by Distribution Channel, 2021 and 2031
Figure 05: Global Smart Pulse Oximeters Market Attractiveness Analysis, by Distribution Channel, 2022–2031
Figure 06: Global Smart Pulse Oximeters Market Value Share Analysis, by Region, 2021 and 2031
Figure 07: Global Smart Pulse Oximeters Market Attractiveness Analysis, by Region, 2022–2031
Figure 08: North America Smart Pulse Oximeters Market Value (US$ Mn) Forecast, 2017–2031
Figure 09: North America Smart Pulse Oximeters Market Value Share Analysis, by Type, 2021 and 2031
Figure 10: North America Smart Pulse Oximeters Market Attractiveness Analysis, by Type, 2022–2031
Figure 11: North America Smart Pulse Oximeters Market Value Share Analysis, by Distribution Channel, 2021 and 2031
Figure 12: North America Smart Pulse Oximeters Market Attractiveness Analysis, by Distribution Channel, 2022–2031
Figure 13: North America Smart Pulse Oximeters Market Value Share Analysis, by Country, 2021 and 2031
Figure 14: North America Smart Pulse Oximeters Market Attractiveness Analysis, by Country, 2022–2031
Figure 15: Europe Smart Pulse Oximeters Market Value (US$ Mn) Forecast, 2017–2031
Figure 16: Europe Smart Pulse Oximeters Market Value Share Analysis, by Type, 2021 and 2031
Figure 17: Europe Smart Pulse Oximeters Market Attractiveness Analysis, by Type, 2022–2031
Figure 18: Europe Smart Pulse Oximeters Market Value Share Analysis, by Distribution Channel, 2021 and 2031
Figure 19: Europe Smart Pulse Oximeters Market Attractiveness Analysis, by Distribution Channel, 2022–2031
Figure 20: Europe Smart Pulse Oximeters Market Value Share Analysis, by Country/Sub-region, 2021 and 2031
Figure 21: Europe Smart Pulse Oximeters Market Attractiveness Analysis, by Country/Sub-region, 2022–2031
Figure 22: Asia Pacific Smart Pulse Oximeters Market Value (US$ Mn) Forecast, 2017–2031
Figure 23: Asia Pacific Smart Pulse Oximeters Market Value Share Analysis, by Type, 2021 and 2031
Figure 24: Asia Pacific Smart Pulse Oximeters Market Attractiveness Analysis, by Type, 2022–2031
Figure 25: Asia Pacific Smart Pulse Oximeters Market Value Share Analysis, by Distribution Channel, 2021 and 2031
Figure 26: Asia Pacific Smart Pulse Oximeters Market Attractiveness Analysis, by Distribution Channel, 2022–2031
Figure 27: Asia Pacific Smart Pulse Oximeters Market Value Share Analysis, by Country/Sub-region, 2021 and 2031
Figure 28: Asia Pacific Smart Pulse Oximeters Market Attractiveness Analysis, by Country/Sub-region, 2022–2031
Figure 29: Latin America Smart Pulse Oximeters Market Value (US$ Mn) Forecast, 2017–2031
Figure 30: Latin America Smart Pulse Oximeters Market Value Share Analysis, by Type, 2021 and 2031
Figure 31: Latin America Smart Pulse Oximeters Market Attractiveness Analysis, by Type, 2022–2031
Figure 32: Latin America Smart Pulse Oximeters Market Value Share Analysis, by Distribution Channel, 2021 and 2031
Figure 33: Latin America Smart Pulse Oximeters Market Attractiveness Analysis, by Distribution Channel, 2022–2031
Figure 34: Latin America Smart Pulse Oximeters Market Value Share Analysis, by Country/Sub-region, 2021 and 2031
Figure 35: Latin America Smart Pulse Oximeters Market Attractiveness Analysis, by Country/Sub-region, 2022–2031
Figure 36: Middle East & Africa Smart Pulse Oximeters Market Value (US$ Mn) Forecast, 2017–2031
Figure 37: Middle East & Africa Smart Pulse Oximeters Market Value Share Analysis, by Type, 2021 and 2031
Figure 38: Middle East & Africa Smart Pulse Oximeters Market Attractiveness Analysis, by Type, 2022–2031
Figure 39: Middle East & Africa Smart Pulse Oximeters Market Value Share Analysis, by Distribution Channel, 2021 and 2031
Figure 40: Middle East & Africa Smart Pulse Oximeters Market Attractiveness Analysis, by Distribution Channel, 2022–2031
Figure 41: Middle East & Africa Smart Pulse Oximeters Market Value Share Analysis, by Country/Sub-region, 2021 and 2031
Figure 42: Middle East & Africa Smart Pulse Oximeters Market Attractiveness Analysis, by Country/Sub-region, 2022–2031
Figure 43: Global Smart Pulse Oximeters Market Share Analysis, by Company, 2021
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*86 figures and 60 tables includes