Pulse and regional oximeters are used to evaluate oxygen status of patients suffering from apneic conditions, cardiac arrest, sickle-cell crisis, and multisystem trauma. Pulse oximeters are used to monitor peripheral oxygenation, whereas regional oximeters are used to monitor cerebral oxygenation. As these devices help in curtailing anesthetic mortality, the World Health Organization (WHO) is taking several measures to increase awareness regarding these products. The pulse and regional oximeters are mentioned in the WHO safe surgical checklist as the standard of operation (SOP).
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The global demand for pulse and regional oximeters is escalating, due to various types of patients are being admitted to hospitals and other healthcare settings. These devices are used to monitor the oxygen levels of patients suffering from respiratory disorders, neurological conditions, and cardiovascular diseases. The wide application base of such devices will facilitate the pulse and regional oximeters market to grow from $2,101.0 million in 2018 to $3,365.0 million in 2024, witnessing a CAGR of 8.2% during the forecast period (2019–2024).
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Apart from this, the manufacturers have also focused on developing and introducing new products to offer an improved variant of pulse and regional oximeters to end users. For instance, in March 2019, Masimo Corporation received the U.S. Food and Drug Administration (FDA) clearance for its RAD-67 pulse co-oximeter. This device is based on the spot-check next-generation non-invasive total hemoglobin (SpHb) monitoring technology and is equipped with the rainbow DCI-mini reusable sensor. It serves as a single-device solution in different clinical and non-clinical settings because it offers portable spot-check monitoring measurement of oxygen saturation.