How are Untapped Markets Driving U.S. Pulse and Regional Oximeters Market?

The U.S. pulse and regional oximeters market generated a revenue of $687.3 million in 2018 and is predicted to reach a value of $1,101.4 million in 2024, registering an 8.2% CAGR during the forecast period (2019–2024).
 
 
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* Pulse And Regional Oximeters

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ANZA, Calif. - May 25, 2020 - PRLog -- The market is witnessing growth due to the increasing government initiatives, surging number of patient approvals and commercialized products, rising number of medication errors, and increasing incidence of targeted diseases. Pulse oximeters measures the oxygen saturation level in blood cells and regional oximeters, also called cerebral and tissue oximeters, measure regional hemoglobin oxygen saturation.

In terms of product, the U.S. pulse and regional oximeters market (https://www.psmarketresearch.com/market-analysis/us-pulse-and-regional-oximeters-market) is bifurcated into regional and pulse oximeters. Between these, two, the pulse oximeter held the larger share of the market during the historical period (2014–2018) and is projected to retain its position during the forecast period as well. This is due to the rising awareness about pulse oximeters, presence of large players in the country, and large patient pool. Nose, palm/foot, forehead, earlobe, handheld, wrist-worn, table-top, and fingertip are the different types of pulse oximeters.

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When end user is taken into consideration, the U.S. pulse and regional oximeters market is categorized into homecare settings, emergency management care settings, fire rescue departments, clinics, pre-hospital care and emergency medical service (EMS) providers, and hospitals. Out of these, the hospitals category accounted for the major share of the market during the historical period and is expected to dominate the market during the forecast period as well. The homecare setting category is predicted to grow at a considerable pace during the forecast period as the patients prefer to use these devices at home.

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The untapped market in developing states in the country is creating wide opportunities for the players operating in the U.S. pulse and regional oximeters market. The availability of proper tools for clinical monitoring for the treatment of different diseases is scare in low-income states, which makes it difficult for patients in these states to get proper medical care. Hence, in order to improve the affordability of these devices, the manufacturers are actively involved in providing innovative medical devices and services, which is further projected to drive the market.

Thus, the rising prevalence of targeted diseases is resulting in the growth of the market.

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Tags:Pulse And Regional Oximeters
Industry:Business
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