Global Disposable Peripheral Capillary Oxygen Saturation (SpO2) Sensor Market – Industry Trends and Forecast to 2031

Disposable Peripheral Capillary Oxygen Saturation (SpO2) Sensor Market Analysis and Size

An oximeter is a device used to transmit radiation at a known wavelength through blood and to measure the blood oxygen saturation based on the amount of reflected or scattered radiation. There are two types of techniques involved in pulse oximeters, namely reflectance and transfectants, with different absorption and light emission principles.

The rise in the adoption of reusable SpO2 sensors and the growing number of hospitals and healthcare clinics are some of the drivers boosting pulse oximeter demand in the market. With the increasing demand for SpO2 sensors globally, major companies are expanding their product portfolios in different countries to strengthen their presence for these products and solutions in the market.

Data Bridge Market Research analyzes that the global disposable peripheral capillary oxygen saturation (SpO2) sensor market was valued at USD 3,962.79 million in 2023 and is expected to reach USD 8,283.00 million by 2031, registering a CAGR of 13.2% during the forecast period of 2023-2029.. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Market Definition

A pulse oximeter is a medical device that indirectly measures the oxygen saturation of a patient’s blood and changes in blood volume in the skin, producing a photo plethysmograph. It is attached to a medical monitor so staff can see a patient’s oxygenation at equal periods. Now, there is a portable battery-operated pulse oximeters are also available for home blood-oxygen monitoring. The SpO2 sensor works out the oxygen saturation by comparing based on red light and infra-red light is absorbed by the blood. Depending on the amounts of oxy HbO2 and deoxy Hb present, the ratio of the amount of red light absorbed compared to the amount of infrared light absorbed changes.

Global Disposable Peripheral Capillary Oxygen Saturation (SpO2) Sensor Market Dynamics

Drivers

• Rise in Adoption of Reusable SpO2 Sensor

Reusable sensors are medical equipment implanted in oxygen cylinders for the assistance of finding oxygen level in the patient body. These sensors have many advantages such as easy handling, optimal cleaning, and thorough disinfection. These sensors are implemented in hospitals and healthcare clinics which enables enhancement of safety systems in terms of patients by avoiding inaccurate data measurement errors and can be reused for other patients and many others.

The healthcare industry has witnessed huge developments however, reusable SpO2 sensors are one of the major developments. This system ensures and withstands maximum mechanical stress and usability is increasing year over year, which is a major market driver.

• Rising Demand for SpO2 Sensors with Artificial Intelligence

Sensor solutions are mostly responsible for only data acquisition. The raw data needs to be extracted from the sensor and transmitted to another, more computationally capable device within the network. Future mobility is dependent upon various factors out of which connectivity is the major factor to drive the SpO2 sensor market.

Artificial Intelligence sensors are one of those initial steps toward a technology-driven driven sustainable society where data obtained by sensors assist the doctor to give accurate medication to patients. These smart AI-based sensors are typically characterized by onboard intelligence and have the ability to communicate collaboratively or through the internet.

 Opportunity

• Growing Number of Hospitals and Healthcare Clinics

The number of hospitals, clinics, and healthcare is increasing day by day due to the increasing number of patients. Healthcare clinics are playing a vital role in providing outpatient primary care and preventive healthcare services to various countries. To cover extensive geographical coverage, strong community ties, and the potential to reach medically underserved areas, health clinics are being set up. Hospitals are trying to adopt new technology sensors which are embedded with software that can keep a record of the count of patients being tested in the hospitals. Hospitals, healthcare, clinics have very limited resources and to utilize their resources in the best possible manner they are trying to adopt new methods for regular checks. This is creating new opportunity for market growth.

Restraint/Challenge

• Inconvenience and faulty readings associated with sensors

While highly beneficial, SpO2 sensors can have limitations in accuracy due to factors like poor circulation, skin pigmentation, nail polish and external interferences. SpO2 sensors are super helpful, however sometimes they do not get things exactly right. This happens if patient’s blood is not flowing well, if the patient’s  fingers are really cold or those are numb.

The colour of patient’s skin can also make a difference, and sometimes things around like direct sunlight, bright lights or moving too much, can make for false readings. Families have reported that very active children or those with challenging behaviour, do not tolerate being attached via a wire to a machine. This can also occur with older people with dementia and other cognitive problems. So, while these sensors are great at giving us a quick idea about oxygen levels, it is important to look at the person as well as the sensor reading to make a judgement about what is happening.

This disposable peripheral capillary oxygen saturation (SpO2) sensor market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the disposable peripheral capillary oxygen saturation (SpO2) sensor market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In March 2020, Nonin announced the launch of two new disposable pulse oximeters. These new products will help the company diversify the product portfolio and offer a wide range of products to the customers and accelerate sales growth
• In May 2021, Shenzhen Lontek Electronic Technology Co., Limited launched a new product in the patient monitor section. The product launch was important for the company because they were developed as per the needs. The new product will enhance the product portfolio of the company and can target new customers

Global Disposable Peripheral Capillary Oxygen Saturation (SpO2) Sensor Market Scope

The disposable peripheral capillary oxygen saturation (SpO2) sensor market is segmented on the basis of product type, application, and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Connector

• Less Than 6 Pins
• 6 Pins-10 Pins
• More Than 10 Pins

Usage

• Adult
• Paediatric
•  Neonate
• Animal
• Others

Technique

• Reflectance
• Transflectance

Signal

• Analog
•  Digital

Application 

• Finger
• Ear
• Foot
• Toe
• Multi Position
• Others

End User

• Clinical
• Hospital
• Veterinary
• Others

Sales Channel

• Offline
• Online

Global Disposable Peripheral Capillary Oxygen Saturation (SpO2) Sensor Market Regional Analysis/Insights

The disposable peripheral capillary oxygen saturation (SpO2) sensor market is analyzed and market size insights and trends are provided by country, connector, usage, technique, signal, application, end user and sales channel as referenced above.

The countries covered in the market report are the U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Poland, Switzerland, Netherlands, Hungary, Austria, Norway, Ireland, Turkey, Lithuania, rest of Europe, China, Japan, India, Australia, South Korea, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, rest of Asia-Pacific, Brazil, Argentina, Peru, rest of South America, South Africa, Saudi Arabia, U.A.E., Israel, Kuwait, Egypt, and rest of Middle East & Africa.

Asia-Pacific is expected to dominate market due to increasing number of hospitals and healthcare clinics across globe. China is expected to grow at a substantial rate within the disposable peripheral capillary oxygen saturation (Spo2) sensor market. The forecasted growth is attributable to increased awareness of home oxygen monitoring and increased launches of measuring devices by market players for homecare settings.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The disposable peripheral capillary oxygen saturation (SpO2) sensor market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for disposable peripheral capillary oxygen saturation (SpO2) sensor market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the disposable peripheral capillary oxygen saturation (SpO2) sensor market. The data is available for historic period 2010-2020.

Competitive Landscape and Global Disposable Peripheral Capillary Oxygen Saturation (SpO2) Sensor Market Share Analysis

The disposable peripheral capillary oxygen saturation (SpO2) sensor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to disposable peripheral capillary oxygen saturation (SpO2) sensor market.

Some of the major players operating in the disposable peripheral capillary oxygen saturation (SpO2) sensor market are:

• Medtronic (Ireland)
• Masimo (U.S.)
• Unimed Medical Supplies (China)
• Inc, Shenzhen Med-Link Electronics Tech Co., Ltd (MEDKE) (China)
• Hisern Medical (China)
• Ornatech Inc (China)
• TE Connectivity (Switzerland)
• NIHON KOHDEN CORPORATION (Japan)
• Nonin (U.S.)
• Smiths Medical (U.S.)
• Koninklijke Philips N.V. (Netherlands)
• Shenzhen Lontek Electronic Technology Co., Limited (China)
• Honeywell International Inc. (U.S.)
• Criticare Technologies, Inc (U.S)
• Digicare Biomedical (U.S.)
• Avante (U.S.)
• PROACT Medical Ltd (U.K.)
• Guangdong Biolight Medical Technology Co., Ltd (China)
• Spacelabs Healthcare (U.S.)
• General Electric Company (U.S.)

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