U.S. Pulse and Regional Oximeters Market Outlook Report
The U.S. pulse and regional oximeters market revenue stood at $687.3 million in 2018, and it is expected to surge to $1,101.4 million by 2024. According to P&S Intelligence, a market research company based in India, the market will demonstrate a CAGR of 8.2% from 2019 to 2024 (forecast period). The market is being driven by the existence of several major manufacturers and growing use of regional and pulse oximeters for health monitoring in the country. Additionally, the growing pool of patients opting for metabolic screening, soaring public awareness about surgical care programs, and increasing number of medical centers and hospitals are also driving the market.
Besides, the growing number of patent grants and approvals is also creating growth opportunities for the players operating in the U.S. pulse and regional oximeters market. For example, Masimo Corporation was granted the Food and Drug Administration (FDA) clearance for introducing TFA-1 disposable forehead sensor, which assists physicians in getting pulse oximetry readings from the forehead of patients, in January 2017. Depending on product type, the market is divided into pulse oximeter and regional oximeter categories.
Moreover, the state is also expected to exhibit rapid expansion in the upcoming years. This is ascribed to the growing healthcare expenditure, existence of established players, and rising incidence of chronic diseases, such as chronic obstructive pulmonary disease (COPD), cardiac arrest, and respiratory infection, in the state. Additionally, the existence of several regional distributors of major players is also contributing toward the booming sales of pulse and regional oximeters in the state.
Browse report with detailed COVID-19 impact analysis on U.S. Pulse and Regional Oximeters Market Competitive Landscape Report
Minnesota also held a considerable volume of shares in the U.S. pulse and regional oximeters market in the past. This was because of the rapid technological advancements, growing prevalence of lung diseases, and product launches in the state. Additionally, the rising focus of the state on technology, especially in health and medical device technology, is also propelling the progress of the market in the state. Nonin Medical Inc.,
Edwards Lifesciences Corporation, Koninklijke Philips N.V., Masimo Corporation, and General Electric Company are some of the major players operating in the industry.
Hence, the demand for pulse and regional oximeters will surge in the U.S. in the coming years, primarily because of the growing prevalence of various chronic illnesses in the country.
