North America Pulse Oximeter Market

North America Pulse Oximeter Market Size (2023 to 2028)

The North American pulse oximeter market size is estimated to grow at a CAGR of 8.46% between 2023 to 2028. North American had accounted for more than 50% of the market share in the global market in 2022.

Y-O-Y growth in the incidence of respiratory problems in North American countries, increased usage of the pulse oximeters in newborn babies screening, and the recent COVID-19 pandemic are significant factors promoting the North American pulse oximeter market growth.

In the United States, favorable reimbursement policies parameter aids in favoring the pulse oximeters market in North America. The rising COVID-19 cases, growing incidence of congenital heart diseases, and the rising aging population are also expected to support the North American pulse oximeter market. The growing number of COPD witnessing the United States is expected to accelerate the U.S. market during the forecast period. According to the American Lung Association, Chronic Obstructive Pulmonary Disease (COPD) was the third leading cause of death in the U.S. in 2018 and led to 16.4 million deaths. The number of hospitals and patients visiting the hospitals is significantly growing over the years, and patients in ICUs and emergency rooms require pulse oximeters in the treatment procedures.

Pulse oximeters are easy to use and help analyze the oxygen levels of a human body, supporting the first aid procedures during medical emergencies. Considering the above-mentioned fact, many COVID-19 infected have started using pulse oximeters during their recovery period. Due to this fact, the sales of pulse oximeters had grown significantly in the North American countries in 2020.

However, accuracy concerns associated with the pulse oximeter devices are slightly expected to impede the North American pulse oximeters market.

Impact of COVID-19 on the North American pulse oximeters market:

In the recent past, the introduction of COVID-19 has created significant acceleration in adopting pulse oximeters in North American countries. The COVID-19 pandemic is a respiratory disease, and pulse oximeters are one of the crucial medical devices used in treatment procedures. Along with the hospitals, the COVID-19 patients have started using pulse oximeters to check their readings and be safe. Though the manufacturing and supply chain activities of pulse oximeters have been disturbed, still the market is expected to see rapid growth.

This research report on the North American pulse oximeter market has been segmented and sub-segmented into the following categories.

By Type:

• Fingertip

• Handheld

• Others

By End-use: 

• Hospitals & Other Healthcare Facilities

• Homecare

By Country:

• The United States

• Canada

• Rest of North America

Geographically, in 2022, the North American pulse oximeter market was the market leader in the global market.  During the forecast period, the North American market is predicted to grow at a healthy CAGR.

The United States pulse oximeter market is forecasted to account significant share in the North American market during the forecast period. The usage of pulse oximeter has grown enormously in newborn babies in the United States, which is one of the significant factors driving the U.S. market. According to the American Academy of Pediatrics, using a pulse oximeter in screening the newborn for CCHD is recommended. The sales of pulse oximeters have seen an acceleration since it encountered a significant number of COVID-19 cases.

The Canadian pulse oximeter market is another noteworthy regional market in the North American region, which is expected to register a lucrative growth rate during the forecast period. The pulse oximetry screening needs to perform in the newborns babies to accelerate the examination of CCHD in Canada, which is expected to drive the Canadian market. Athletes and mountain climbers widely use the pulse and oximeters as they may face low oxygen issues when they reach high altitudes or when they do extensive workouts. 

KEY MARKET PARTICIPANTS:

A few of the notable companies operating in the North American pulse oximeter market profiled 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.