The hospitals segment held the largest share of the market in 2019; however, the market for others segment is estimated to grow at the fastest CAGR during 2020-2027

NEW YORK, Nov. 2, 2020 /PRNewswire/ --

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Increasing prevalence of respiratory diseases and growing preference for remote patient monitoring are the key factors fueling the market growth.Moreover, strategic developments by manufacturers, such as product innovations, product launches, R&D investments, and mergers and acquisitions, are expected to foster the market growth during the forecast period.

However, the inaccuracies in pulse oximeter readings due to several factors, such as changes in the arterial pulse, body movements, color interferences, and venous pulsations, hinder the growth of the US pulse oximeters market.Additionally, the COVID-19 is a respiratory disease and primarily affects lungs, therefore, increasing demand for respiratory devices including pulse oximeters.

These are major intervention for patients with severe Covid-19 infection, and the healthcare providers need to ensure the availability of pulse oximeters and other medical oxygen systems.In COVID patients, the oxygen levels drop significantly and can even drop to 40% as compared to Normal oxygen levels that is above 95%.

The oximeter has become crucial in the management and monitoring of COVID-19 patients. The market for these devices is growing due to their ability in early detection and remote monitoring of patients.

The US pulse oximeters market is segmented in terms of type and end user.Based on type, the market is segmented into fingertip pulse oximeters, handheld pulse oximeters, wrist-worn pulse oximeters, and pediatric pulse oximeters.

The fingertip pulse oximeters segment held the largest share of the market in 2019; and is anticipated to register the highest CAGR during the forecast period.In terms of end user, the US pulse oximeters market is categorized into hospitals, clinics, and others.

The hospitals segment held the largest share of the market in 2019; however, the market for others segment is estimated to grow at the fastest CAGR during 2020-2027.

The World Health Organization, Centers for Disease Control and Prevention, and National Institute of Health are a few of the essential primary and secondary sources studied while preparing this report.

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