U.S. Pulse and Regional Oximeters Market Explores New Growth Opportunities
(prsubmissionsite) February 06, 2020 The U.S. pulse and regional oximeters market, which valued $687.3 million in 2018, is expected to generate $1,101.4 million in 2024, experiencing a CAGR of 8.2% during 2019¬–2024 (forecast period). Faster growth is predicted for the pulse oximeter category, based on product type. This is because of the suitability of such devices for a higher number of applications, in comparison to regional oximeters, as the former can be affixed to numerous parts of the body, including the palm/feet, fingertips, and nose. Additionally, they are compact and easy to use, because of which they would occupy an about 90.0% share in the market by 2024.
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The rising adoption of sensor-based oximeters in homecare settings is trending in the U.S. pulse and regional oximeters market, as they are ideal for tracking the oxygen saturation of the elderly. Owing to the convenience, non-invasiveness, and safety aspects of the such devices, they are being increasingly adopted for home-based health tracking of patients.
The key driver for the U.S. pulse and regional oximeters market is the increasing number of product approvals. Encouraged by this, many companies are entering the U.S. with their offerings, in turn, helping the market here prosper. For instance, TFA-1, a disposable forehead sensor patented by Masimo Corporation, was approved by the Food and Drug Administration, in 2017.
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In the U.S. pulse and regional oximeters market, the key players are Edwards Lifesciences Corporation, General Electric Company, Masimo Corporation, Nonin Medical Inc., Masimo Corporation, Koninklijke Philips N.V., and Smiths Medical. Many of these have undertaken product launches as a strategy to up their market share. For instance, in 2019, the Iris Device Management System (Iris DMS) was launched by Masimo Corporation. It provides automated connectivity to make the management of the company’s pulse oximeters, throughout a healthcare facility, better and smoother.