Boom Expected in Pulse and Regional Oximeters Market in Future


Posted April 12, 2021 by PSMarketResearch12

The global pulse and regional oximeters market reached a value of $2,101.0 million in 2018 and is expected to attain a value of $3,365.0 million in 2024, advancing at an 8.2% CAGR during the forecast period (2019–2024).
 
The market is growing due to the supportive government initiatives, increasing number of patent approvals and commercialized products, rising number of medication errors, and surging incidence of targeted diseases. Electronic devices which measure oxygen saturation level in red blood cells is called a pulse oximeter. A regional oximeter measures regional hemoglobin oxygen saturation.

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On the basis of end user, the pulse and regional oximeters market is divided into homecare settings, hospitals, emergency management care settings, pre-hospital care and emergency medical service providers, fire rescue departments, and clinics. The hospitals division accounted for the major share of the market during the historical period and is further expected to dominate the market during the forecast period. This is because, the adoption of non-invasive medical devices, including pulse and regional oximeters, is increasing due to the surging patient population, increasing prevalence of chronic diseases, and rising healthcare expenditure.

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Another major driving factor of the pulse and regional oximeters market is the surging incidence of targeted diseases. The requirement for these devices is rising due to the different types of patients that are being admitted in different healthcare settings. Pulse and regional oximeters are required for patients suffering from different diseases, such as drowning condition, cardiac arrest, apneic conditions, multisystem trauma, and sickle-cell crises. These devices have emerged as useful devices for the evaluation of patient’s oxygenation status and are widely utilized in several departments or units of healthcare settings.

The rising adoption of homecare pulse and regional oximeters is a key trend being registered in the pulse and regional oximeters market. Attributed to technological advancement in medical devices, the utilization of sensor-based pulse and regional oximeters is growing at homecare settings. This is further leading to the wide acceptance of handheld, wrist-worn, and fingertip pulse oximeters among aging population for regular monitoring their health. Furthermore, the key players in the market are focusing on the development of simple and home-based pulse and regional oximeters to cater to the needs of the geriatric population.

Thus, the market is growing considerably because of the rising incidence of targeted diseases and surging number of medication errors.
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Tags pulse and regional oximeters market , pulse and regional oximeters market demand , pulse and regional oximeters market share , pulse and regional oximeters market size
Last Updated April 12, 2021