What are Key Factors Causing Boom of Pulse and Regional Oximeters Market?

Posted by Pramod Arya on November 25th, 2020

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. 

When product type is taken into consideration, the pulse and regional oximeters market is categorized into nose, fingertip, palm/foot, table-top, forehead, wrist-worn, earlobe, and handheld. Among these, the fingertip category held the largest share of the pulse oximeter market during the historical period (2014–2018) and is projected to dominate the market during the forecast period as well. This is because fingertip pulse oximeters are widely used in different applications and are portable. The fastest growth is predicted to be witnessed by the wrist-worn category during the forecast period.

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 Fare widely utilized in several departments or units of healthcare settings.

This study covers

• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
• Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
• Major players operating in the market and their service offerings