The Latin American pulse oximeter market size is projected to be growing at a steady rate during the forecast period.
Factors such as the growing prevalence of chronic respiratory diseases, increasing demand for portable devices, and the recent introduction of the COVID-19 pandemic are majorly accelerating the Latin American pulse oximeter market growth. The Brazilian Organization for the Society of Newborn Screening has been trying to standardize the factors for newborn screening, in which pulse oximeters are expected to play a leading role in newborn screening. The prevalence of chronic respiratory diseases such as COPD, asthma, and pulmonary hypertension is significantly growing in the Latin American region, is expected to increase the adoption of pulse oximeters.
Growing usage of pulse oximeters in clinical practice, in monitoring and treatment procedures of sportspersons and athletes are further expected to boost the Latin American market growth. Additionally, factors such as ease to use, increased demand for pulse oximeters, cost-friendliness, and rising awareness regarding the products are further estimated to favor the Latin American pulse oximeter market growth.
However, poor awareness levels of these devices among the Latin American people and rigid guidelines implemented for patient safety are expected to hinder the growth rate of the Latin American pulse oximeter market.
Impact of COVID-19 on the Latin American pulse oximeters market:
The novel coronavirus (COVID 19) caused through SARS-CoV-2 reagent has affected almost every business sector, including the healthcare industry. Due to the COVID-19 pandemic, the usage of pulse oximeters has significantly grown and is forecasted to continue the growth streak during the forecast period. The majority of the COVID-19 patients are expected to have low oxygen saturation levels and pulse rate; hence, these devices are quite helpful to keep a check over the readings. Moreover, the devices are used among those in emergency rooms, ICUs during first aid. Throughout the pandemic period, the number of hospital admissions with pneumonia, breathing difficulties, and decreased oxygen levels in the blood were increased.
This research report on the Latin America pulse oximeter market has been segmented and sub-segmented into the following categories.
Geographically, the Latin American pulse oximeter market is estimated to grow steadily during the forecast period.
The Brazilian pulse oximeter market is expected to dominate the Latin America region during the forecast period. Factors such as the easy availability of pulse oximeters and the growing incidence of COPD in Brazil are expected to accelerate the Brazilian market.
The Mexican pulse oximeter market is one of the fastest-growing regional markets in the global market. Growing investments from the government, favorable guidelines to the manufacturers, rising incidence of heart diseases such as heart failure, COPD, and others are predicted to boost the Mexican market growth.
KEY MARKET PARTICIPANTS:
Some of the key manufacturers operating in the Latin American pulse oximeter market covered in this report are OMRON Corporation, Medtronic Plc, GE Healthcare, Nonin, Zensorium, Invacare Corporation, MASIMO, Koninklijke Philips NV, Welch Allyn, Opto Circuits Limited, Spacelabs Healthcare, Nihon Kohden Corporation, Smiths Medical Group Limited, and Becton Dickinson and Company.
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