Global MRI Pulse Oximeters Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Product;

Wired MRI Pulse oximeters and Wireless MRI Pulse oximeters.

By Modality;

Sensor with monitor and Sensor without monitor.

By End User;

Hospitals, Diagnostic Laboratories and Ambulatory Surgical Center.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn183261506 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global MRI Pulse Oximeters Market (USD Million), 2021 - 2031

In the year 2024, the Global MRI Pulse Oximeters Market was valued at USD 1,072.34 million. The size of this market is expected to increase to USD 1,570.29 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 5.6%.

The global MRI pulse oximeters market is experiencing significant growth due to the increasing demand for non-invasive monitoring solutions in healthcare. Pulse oximeters are essential devices that measure the oxygen saturation level in the blood and are particularly crucial in settings such as operating rooms, intensive care units, and emergency departments. The unique aspect of MRI-compatible pulse oximeters is their ability to function accurately in the magnetic resonance imaging environment, which is vital for patient safety during MRI procedures.

Several factors are driving the expansion of this market. Technological advancements have led to the development of more sophisticated and reliable devices that can withstand the magnetic fields generated by MRI machines. Additionally, the rising healthcare expenditure globally and the growing aging population are significant contributors, as older adults are more likely to require frequent medical imaging. The prevalence of chronic diseases such as cardiovascular conditions, which necessitate regular monitoring of oxygen levels, also fuels market growth.

Despite these positive drivers, the market faces several challenges. The high cost of MRI-compatible pulse oximeters can be a barrier to widespread adoption, especially in developing regions. Moreover, stringent regulatory requirements can slow down the introduction of new products. Limited awareness and the need for specialized training to operate these devices further restrict market expansion.

Opportunities abound in this market, particularly with the increasing integration of advanced technologies such as artificial intelligence and wearable health monitors. The rise of telemedicine, driven by the need for remote patient monitoring, opens new avenues for market players. Additionally, emerging markets present untapped potential, offering lucrative growth prospects for companies willing to invest in these regions.

Overall, the global MRI pulse oximeters market is poised for steady growth, driven by technological innovation and the increasing need for safe and effective patient monitoring solutions in MRI settings.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product
    2. Market Snapshot, By Modality
    3. Market Snapshot, By End User
    4. Market Snapshot, By Region
  4. Global MRI Pulse Oximeters Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Technological advancements
        2. Rising healthcare expenditure
        3. Aging population growth
        4. Increased chronic diseases
        5. Demand for safety
      2. Restraints
        1. High equipment costs
        2. Limited awareness levels
        3. Stringent regulatory requirements
        4. Technical complexities
        5. Competition from alternatives
      3. Opportunities
        1. Technological innovations
        2. Telemedicine integration potential
        3. Wearable device trends
        4. Strategic partnerships
        5. Government healthcare initiatives
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global MRI Pulse Oximeters Market, By Product, 2021 - 2031 (USD Million)
      1. Wired MRI Pulse oximeters
      2. Wireless MRI Pulse oximeters
    2. Global MRI Pulse Oximeters Market, By Modality, 2021 - 2031 (USD Million)
      1. Sensor with monitor
      2. Sensor without monitor
    3. Global MRI Pulse Oximeters Market, By End User, 2021 - 2031 (USD Million)
      1. Hospitals
      2. Diagnostic Laboratories
      3. Ambulatory Surgical Center
    4. Global MRI Pulse Oximeters Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Philips
      2. EMCO Meditek
      3. Nonin
      4. IRadimed Corporation
      5. Hamilton Medical
      6. Medtronic
      7. Masimo
      8. Smiths Group
  7. Analyst Views
  8. Future Outlook of the Market