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North America Pulse Oximeter Market will grow at a CAGR of 6% by 2026: Actual Market Research
Jun, 24
2021

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North America Pulse Oximeter Market will grow at a CAGR of 6% by 2026: Actual Market Research

 

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One of the most common birth defects observed in the region is congenital heart disease. The prenatal testing by ultrasound detects only 23% of the defects, while postnatal detection can constitute up to 50% of the cases. It was recorded that the diseases accounted for nearly 30% of infant deaths in the US every year. Pulse oximeter screening can aid in detecting it first-hand and avoid further risk of complications in the first few weeks of life. This factor has resulted in making pulse oximetry screening mandatory in newborns before discharge. These factors are likely to increase the use of pulse oximeters in North America, allowing the leading regional market to grow with a CAGR of 6% through the forecasted period.

The research report titled North America Pulse Oximeter Market Outlook, 2026 by Actual Market Research categorizes the market to forecast the revenues and analyze the trends in segments based on product type, end-users, countries & major companies. The Pulse Oximeter market has been revamped considering the Covid-19 impact. Based on type, the market report segments the market into fingertip pulse oximeters, handheld pulse oximeters, and others. The American Academy of Paediatrics had recommended the use of pulse oximeter in screening newborns for CCHD since 2011, and it was implemented in 2014. Hence, all these factors contribute to the market growth in North America. The recent widespread COVID-19, which is a respiratory illness, is also fueling the demand for pulse oximeters. This is likely to influence the regional market growth over the coming years. The North American market is led by the handheld segment, while the fingertip oximeter segment is expected to grow at an anticipated CAGR of over 8%. 

Some of the deadly diseases that affect the pulse negatively are peripheral arterial disease, peripheral vascular diseases, chronic obstructive pulmonary disease & many more. North America has a high prevalence of such respiratory disorders which have increased the number of hospital visits, allowing the hospital & health care segment account to for the largest share of nearly 90% in 2020. Smoking is much common in the region, given the fact that about 1 in 5 deaths in the US is caused directly or indirectly by smoking. With the understanding of the risk and the awareness of self-monitoring, the home care segment in the region is expected to grow with a CAGR of 13% in the forecasted period.

The US government has made it a compulsion of having the newborns go through the pulse oximetry screening before discharge. Such initiatives are making market growth a cakewalk in the country. The US dominates the regional market, while all the other countries barely make a single-digit contribution in the market. Mexico lacks any mandatory norms for newborn screening, yet is one of the largest medical device exporters, with India being its main importer. This factor implies that Mexico can be a potential market to invest in the pulse oximeter market since there are no strict manufacturing regulations for pulse oximeters in Mexico in the projected period.

Key industry players are Koninklijke Philips NV, CASMED (Edwards Lifesciences Corporation), Covidien (Medtroni PLCc), Nihon Kohden Corporation, Smiths Medical International, Welch Allyn INC, Spacelabs Healthcare, Meditech, GE Healthcare, etc. _x000D_