Market Introduction
Pulse oximeter is a non-invasive device used for monitoring oxygen saturation level in blood. It is a small, clip-like device that is attached to finger or earlobe. It is primarily used in intensive care, operating, and emergency care for assessment of a patient’s oxygen level. Pulse oximeters are useful for patients with cardiac problem, respiratory problems, and chronic obstructive pulmonary diseases. The US pulse oximeters market growth is mainly attributed to increasing prevalence of respiratory diseases and growing preference for remote patient monitoring. Moreover, strategic developments by manufacturers, such as product innovations, product launches, R&D investments, and mergers and acquisitions, are further expected to foster the market growth during the forecast period. However, inaccuracies in pulse oximeter readings due to several factors, such as changes in the arterial pulse, body movements, color interferences, and venous pulsations, limit the growth of the market.
COVID-19 is a respiratory disease and it primarily affects lungs, therefore, increasing demand for respiratory devices including pulse oximeters. These are major intervention for patients with severe Covid-19 infection, and the healthcare providers need to ensure the availability of pulse oximeters and other medical oxygen systems. In COVID patients, the oxygen levels drop significantly and can even drop to 40% as compared to Normal oxygen levels that is above 95%. The oximeter has become crucial in the management and monitoring of COVID-19 patients. The market for these devices is growing due to their ability in early detection and remote monitoring of patients.
Market Overview and Dynamics
The US pulse oximeters market is projected to reach US$ 1,106.78 million by 2027 from US$ 541.01 million in 2019. The market is anticipated to grow with a CAGR of 9.2% from 2020 to 2027. Factors driving the market growth are increasing prevalence of respiratory diseases and growing preference for remote patient monitoring. However, inaccuracies in pulse oximeter readings due to several factors, such as changes in the arterial pulse, body movements, color interferences, and venous pulsations are likely to have a negative impact on the market growth.
Key Market Segments
Based on type, the handheld pulse oximeters segment accounted for a larger share of the US pulse oximeters market in 2019. In terms of end user, the hospitals segment held a larger share of the pulse oximeters market in the US.
Major Sources
A few major primary and secondary sources referred to while preparing the US pulse oximeters market report are World Health Organization, and Centre for Disease Prevention and Control.
Reasons to buy the report
US PULSE OXIMETERS MARKET SEGMENTATION
By Type
By End User
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 541.01 Million |
| Market Size by 2027 | US$ 1,106.78 Million |
| CAGR (2020 - 2027) | 9.2% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
United States
|
| Market leaders and key company profiles |
|
The US Pulse Oximeters Market is valued at US$ 541.01 Million in 2019, it is projected to reach US$ 1,106.78 Million by 2027.
As per our report US Pulse Oximeters Market, the market size is valued at US$ 541.01 Million in 2019, projecting it to reach US$ 1,106.78 Million by 2027. This translates to a CAGR of approximately 9.2% during the forecast period.
The US Pulse Oximeters Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the US Pulse Oximeters Market report:
The US Pulse Oximeters Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
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