Blood Oxygen Sensor Market Size, Share, By Product Type (Disposable and Reusable), End-User (Hospitals & Clinics, Homecare Settings, and Others), and Region - Trends, Analysis, and Forecast till 2035

• Blood oxygen sensor market size is expected to grow at USD 6.2 Billion by 2035.
• The target market was valued at USD 2.9 Billion in 2024.
• Target market is expanding at a CAGR of 8.8%.

Blood oxygen sensor, which is also known as pulse oximetry is a device that measures the oxygen saturation level or the oxygen level in the blood. Target market is driven by the prevalence of diseases, such as chronic obstructive pulmonary disease (COPD), sleep apnea, cardiac arrhythmia, and ischemic condition. In addition, increasing number of surgeries and emphasis on patient safety and high demand. Furthermore, technological advancements, which increases the efficiency and cost-effectiveness of production is also anticipated to create opportunities for growth of the global market over the forecast period.

Key Takeaways:

• North America held the largest share of the market in 2024 due to advanced healthcare infrastructure.
• Asia Pacific is projected to be the fastest-growing market in the coming years. This is due to increasing healthcare awareness.

Key Drivers of Target Market:

Increasing Cases of Respiratory Diseases Expected to Propel Market Growth

The rising number of patients suffering from respiratory diseases can drive the blood oxygen sensor market growth as blood oxygen sensor helps to diagnose and monitor lung conditions, to determine ventilator support, to sleep apnea, and among others.

• For instance, according to the data published by University of Washington in April 2023, chronic respiratory disease is the third leading cause of death globally.
• For instance, according to the data published by National Library of Medicine in June 2020, nearly 545 million individuals currently live with a chronic respiratory condition, representing 7.4% of the world’s population.

Restrains:

Limitations of Blood Oxygen Sensor can Hamper the Growth of the Market

While pulse oximeters may be useful for estimating blood oxygen levels, these devices have limitations that can result in inaccurate readings. Pulse oximeters may over or under-estimate oxygen saturation. The accuracy of the measurement has been long known to be affected by many factors, including skin pigmentation. Other factors include correct fitting of the device, peripheral blood flow, and nail coatings, among others.

• For instance, in February 2021, the U.S. Food and Drug Administration issued a safety communication to inform patients and health care providers that pulse oximeters have limitations and a risk of inaccuracy under certain circumstances. 
• Counterbalance Statements: One of the major solutions to this problem is cleanliness, keep the body still, avoid excessive movement, maintain a moderate room temperature, and use a reliable device, among others.

Opportunities:

Integration of Advanced Technologies will Create Significant Opportunities in Upcoming Years

The blood oxygen sensor sector has undergone a radical transformation in recent years due to new innovations and technological advancements. It enhance functionality, efficiency, productivity, and others. Advanced technologies, such as LED light technology, remote sensing, infrared spectroscopy, AI & ML, and among others used in blood oxygen sensors.

• For instance, in December 2024, Medical technology company Zynex Inc. announced the completion of its clinical verification trial for its NiCO pulse oximeter, overseen by anesthesiologist David MacLeod, MBBS, at Duke University. Trial completion is required by the U.S. Food and Drug Administration prior to submission of a 510(k) for clearance to market and sell the NiCO device for clinical use.

The market is segmented based on product type, end-user, and region. 

Product Type

On the basis of product type, the blood oxygen sensor market is segmented into disposable and reusable. Disposable segment dominate the target market with 75.5% of total blood oxygen sensor market share as they are designed for single patient use and are convenient to use. 

• For instance, in January 2024, Inspira Technologies OXY B.H.N Ltd., a pioneer in life support technology with a vision to supersede traditional mechanical ventilators, announced its plan to launch a single-use disposable blood oxygenation kit (the "Kit"), currently in development, for its INSPIRA ART medical device series.

End User

The blood oxygen sensor market by end-user is segmented into hospitals & clinics, home care settings, and others. The hospitals & clinics segment is expected to dominate the target market growth due to increasing acceptance of renewable sources, increasing demand, etc.

Regional

Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America: North America region is expected to dominate the growth of the market during forecast period due to advanced healthcare infrastructure, strong presence of leading manufacturers, rising users, increasing investment in technological advancements, and others.

• For instance, in January 2021, Telehealth Company Tyto Care has launched its US Food and Drug Administration (FDA)-cleared fingertip Pulse Oximeter (SpO2) medical device for checking blood oxygen saturation levels and heart rate remotely.

Asia Pacific: Asia Pacific is considered to be the fastest growing region in the target market as countries, such as India, China, and many more are leading the charge significantly due to the rising population, increasing healthcare awareness, improving access to healthcare facilities, higher rate of chronic diseases, and others.

• For instance, in July 2020, Mitcoin Biomed, founded by Jinang Dhami, a Biomedical Research Engineer, launched purely India-made pulse oximeter, names Oxysat at an affordable price, with 18 months replacement warranty.

Blood Oxygen Sensor Market Report Scope:

Segmentation:

By Product Type:

• Disposable
• Reusable

By End User:

• Hospitals & Clinics
• Home Care Settings
• Others

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating in the blood oxygen sensor market include Koninklijke Philips N.V., TOSHNIWAL SENSING DEVICES PVT. LTD, GE HealthCare, Masimo, and Smiths Group plc, among others. These key players are focusing on different organic and inorganic strategies, such as acquisition, merger, partnership, agreement, and product launch and approval to expand their product portfolio and strengthen their market presence globally.

List of Key Players in the Market:

• Koninklijke Philips N.V.
• TOSHNIWAL SENSING DEVICES PVT. LTD
• GE HealthCare
• Masimo
• Smiths Group plc
• Nonin
• Compass Health Brands
• ADC
• PulseOximeter.org
• Analox Group
• Renesas Electronics Corporation
• AED.US
• METTLER TOLEDO
• TTLIFE OXYGEN CONCENTRATOR
• LOOKEETech
• www.turnermedical.com

• In September 2024, Whoop announced its first wearable in India, Whoop 4.0. is designed for athletes and wellness enthusiasts. Whoop's 4.0 fitness band come with features, such as sleep tracking, heart rate monitoring, skin temperature sensing, and pulse oximetry, among others. 
• In August 2024, Prevounce Health, a leading provider of remote care management software, devices, and services, announced the launch of its first blood oxygen device for remote patient monitoring (RPM), Pylo OX1-LTE.
• In November 2022, BioIntelliSense, Inc. a continuous health monitoring and clinical intelligence company, announced the launch of its patented, FDA-cleared, pulse oximetery (SpO2) sensor chipset and integrated processing technology that accurately measures blood oxygen levels across the full range of light to very dark skin pigmentations, and during movement and activity.
• In September 2022, Focusing on health capabilities even further, Apple has unveiled the Apple Watch Series 6 with Blood Oxygen Sensor and App. This new feature will be able to measure the oxygen saturation of the user's blood within 15 seconds. 

Analyst View:      

The industry for blood oxygen sensor market is placed for substantial growth due to prevalence of diseases, such as chronic obstructive pulmonary disease (COPD), sleep apnea, cardiac arrhythmia and ischemic condition, increasing number of surgeries and emphasis on patient safety, and high demand. New innovations and development, advance technologies, and many collaborations and partnerships helps to boost the growth of the market in upcoming years.

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