
Growing demand for minimally invasive devices – along with an increase in chronic respiratory diseases like COPD and asthma – is expected to drive growth in the market for pulse oximeters over the next seven years.
A new report – the Pulse Oximeter Market Size, Share & Trends Analysis Report – projects that the global pulse oximeter market size is expected to reach $3.9 million by 2030, a compound annual growth rate of 6.4% from 2023 to 2030.
Technological advances and the increased focus on continuous patient monitoring during diagnosis and treatment are also expected to contribute to the increase in demand growth for the devices, the report said.
Oxygen and saturation are vital parameters in COPD and asthma treatment, and pulse oximeters are a key tool in accurately measuring blood oxygen levels in both of these areas. According to the American Lung Association, more than 12.5 million people have been diagnosed with COPD, and more may have it without knowing it.
The COVID-19 pandemic has also played a significant role in the demand for pulse oximeters due to increased need for measuring blood oxygen saturation in those patients.
Technological advances – such as the 2021 introduction of the first FDA-approved 4G connected oximeter by Teli Health – will also drive demand as the desire for more remote patient monitoring options continues to increase.