U.S. Pulse and Regional Oximeters Market to Generate Revenue Worth $1,101.4 Million by 2024
- Published: December 2019
The U.S. pulse and regional oximeters market was valued at $687.3 million in 2018, which is projected to reach $1,101.4 million by 2024, progressing at a CAGR of 8.2% during the forecast period (2019–2024). On the basis of product type, the pulse oximeter category is projected to grow at a higher rate during forecast period. Based on pulse oximeter type, the fingertip category held the largest share in the market in 2018. Whereas, the wrist-worn category is expected to witness the fastest growth during 2019–2024, owing to the fact that wrist-worn devices are more technologically advanced and are widely accepted in home-based pulse monitoring, which is a major reason for their popularity, as compared to other devices.
Increasing Adoption of Pulse Oximeters in Homecare Settings is a Key Trend Observed in the Market
The use of sensor-based oximeters is increasing at homecare settings across the country and is a key trend witnessed in the U.S. pulse and regional oximeters market. These devices can be used among geriatric population for regular monitoring of their health condition at home. Pulse oximeters are safe, convenient, and non-invasive, and are valuable devices for measuring oxygen saturation. These factors are expected to boost the market growth in the coming years.
U.S. Market for Pulse and Regional Oximeters is Likely to Witness Significant Growth due to Increasing Number of Patent Approvals
Increasing number of patents approval and grants is encouraging many new players to enter the U.S. pulse and regional oximeters market, with their innovative product offerings, which further augment the growth of the market. For instance, in January 2017, Masimo Corporation received the Food and Drug Administration (FDA) clearance to introduce TFA-1 disposable forehead sensor, which helps physicians to get pulse oximetry readings from forehead of the patient, instead of fingertip.
Segmentation Analysis of U.S. Pulse and Regional Oximeters Market
- The pulse oximeter category is expected to hold around 90% share by 2024 in the U.S. pulse and regional oximeters market, progressing at a CAGR of 8.4% during the forecast period. The pulse oximeter has applications in wide spectrum among individuals as compared to regional oximeter, due to its compactness and user-friendly design, and also it can be attached to various body parts, such as fingertip, palm/foot, and nose. Due to wide applications, the demand for pulse oximeters is increasing in the U.S.
- The U.S. pulse and regional oximeters market in the reusable category is expected to grow at a faster rate, owing to the cost-effectiveness of reusable sensors as compared to disposable sensors.
- The adult patient type held the largest share in the U.S. pulse and regional oximeters market in 2018, owing to the increasing number geriatric population across the country.
- Pulse and regional oximeters are largely being used in hospitals, which accounted for a share of 46.8% in the U.S. pulse and regional oximeters market in 2018. This is primarily due to growing patient population, increasing healthcare expenditure, and rising prevalence of chronic diseases.
Geographical Analysis of U.S. Pulse and Regional Oximeters Market
In the U.S. pulse and regional oximeters market, California held the largest share in 2018. The market in the state is also expected to progress at a CAGR of 10.2% during forecast period. This can be mainly attributed to high healthcare spending, presence of established players, increasing prevalence of chronic diseases, such as respiratory infection, Chronic Obstructive Pulmonary Disease (COPD), and cardiac arrest. In addition to this, the presence of regional distributors of key players is also driving the market growth.
Browse report overview with detailed TOC on "U.S. Pulse and Regional Oximeters Market Research Report: By Product Type (Pulse Oximeter, Regional Oximeter), Sensor Type (Reusable, Disposable), Patient Type (Adult, Neonate, Pediatric), End User (Hospitals, Pre-Hospital Care and EMS) Providers, Clinics, Fire Rescue Departments, Emergency Management Care Settings, Homecare Settings) - Industry Opportunity Analysis and Growth Forecast to 2024" at:https://www.psmarketresearch.com/market-analysis/us-pulse-and-regional-oximeters-market
Other states also hold considerable share in the U.S. pulse and regional oximeters market, on account of rising awareness of pulse rate and saturated oxygen level monitoring.
- Minnesota holds the second position in the U.S. pulse and regional oximeters market. This is attributed to the fact that the state witnesses the technological advancements, high incidence of lung diseases, and new product launches. Moreover, it puts high value on technology, particularly in health and medical device technology, which results in significant share in the market.
- Massachusetts is the third-largest market for pulse and regional oximeters in the U.S. This is mainly due to the presence of technologically advanced hospitals, rising elderly population, and increasing telehealth services. These advancements have led to the development of light-weighted, patient-friendly, app-connected pulse oximeters in the state, which will further boost the growth of the U.S. pulse and regional oximeters market in the coming years.
Competitive Landscape of U.S. Pulse and Regional Oximeters Market
Edwards Lifesciences Corporation, Masimo Corporation, Nonin Medical Inc., General Electric Company, Koninklijke Philips N.V., Masimo Corporation, and Smiths Medical are some of the major manufacturers operating in the U.S. pulse and regional oximeters market. The manufacturers are involved in product launches and acquisitions to increase their market shares. For instance, in January 2019, Masimo Corporation announced the launch of Iris Device Management System (Iris DMS), an automated connectivity solution, which is designed to streamline management of Masimo Corporation’s pulse oximeter devices throughout a hospital system. Moreover, in February 2019, Edwards Lifesciences Corporation acquired CAS Medical Systems Inc., a medical technology company dedicated to develop non-invasive tissue oxygenation monitoring devices, with an equity value of approximately $100 million.
U.S. Pulse and Regional Oximeters Market Segmentation
Market Segmentation by Product Type
- Pulse Oximeter
- Fingertip
- Handheld
- Earlobe
- Table-top
- Forehead
- Wrist-worn
- Palm/foot
- Nose
- Regional Oximeter
Market Segmentation by Sensor Type
- Reusable
- Disposable
Market Segmentation by Patient Type
- Adult
- Neonate
- Pediatric
Market Segmentation by End User
- Hospitals
- Pre-Hospital Care and Emergency Medical Service (EMS) Providers
- Clinics
- Fire Rescue Departments
- Emergency Management Care Settings
- Homecare Settings
Market Segmentation by Geography
- U.S. Pulse and Regional Oximeters Market
- By product type
- By sensor type
- By patient type
- By end user
- By state – California, Minnesota, Massachusetts, Florida, Pennsylvania, New York, Texas, New Jersey, Illinois, Ohio, Georgia, Wisconsin, Virginia, Mississippi, Nebraska, Washington, South Carolina, Colorado, Arizona, Maryland, and Others
- California pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- Minnesota pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- Massachusetts pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- Florida pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- Pennsylvania pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- New York pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- Texas pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- New Jersey pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- Illinois pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- Ohio pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- Georgia pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- Wisconsin pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- Virginia pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- Mississippi pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- Nebraska pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- Washington pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- South Carolina pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- Colorado pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- Arizona pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- Maryland pulse and regional oximeters market
- By product type
- By sensor type
- By patient type
- By end user
- California pulse and regional oximeters market