The pulse oximeters market was valued at US$ 1,892. 00 million in 2019 and is projected to reach US$ 3,693. 92 million by 2027; it is expected to grow at a CAGR of 8. 6% during 2020–2027. The growth of the market is attributed to increasing prevalence of respiratory diseases and growing preference for remote patient monitoring.
New York, Jan. 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pulse Oximeters Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type ; End User and Geography" - https://www.reportlinker.com/p06010090/?utm_source=GNW
However, the inaccuracies in pulse oximeter readings due to several factors hinders the growth of the market.
Pulse oximeter is a non-invasive device used to monitor oxygen saturation level in blood.It is a small, clip-like device that is attached to finger or earlobe.
It is mostly used in intensive care, operating, emergency care, and patient at high altitude for assessment of patient’s oxygenation to determine if there is need for supplemental oxygen.Further, pulse oximeters are useful for patients with cardiac problem, respiratory problems, and chronic obstructive pulmonary diseases.
Companies operating in the pulse oximeters market are receiving FDA approvals for their innovative products and raising funds for product development, which, in turn, propels the growth of the market.
Based on type, the global pulse oximeters market is sub-segmented into fingertip pulse oximeters, handheld pulse oximeters, wrist-worn pulse oximeters, and pediatric pulse oximeters.Fingertip pulse oximeters segment held the largest share of the market in 2019, and it is expected to register a higher CAGR during the forecast period.
Based on end user, the global pulse oximeters market is segmented into clinics, hospitals, and others. The clinics segment held the largest share of the market in 2019, and is expected to register the highest CAGR during the forecast period.
US Food and Drug Administration (FDA), National Institute of Health (NIH), National Health Agency (ANVISA), European Medical Association are among a few secondary sources referred for preparing this report.
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