Pulse and Regional Oximeters Market

Pulse and Regional
Oximeters Market
25 NOVEMBER 2019
Technology Application Demand
Size
Share

Pulse and Regional Oximeters Market
Growing Number of Medication Errors Driving Pulse and Regional Oximeters Market
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.
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Pulse and Regional Oximeters Market
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.

Pulse and Regional Oximeters Market
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