By 2023, the cerebral oxygen monitoring market trends is expected to be worth US$ 217.24 million worldwide. The market is expected to double to reach US$ 435.40 million by 2033, growing at a 7.2% CAGR from 2023 to 2033.
The monitoring devices have undergone significant continuing technological advances. Several therapeutic settings, including vascular and cardiac operations, utilize the cerebral oximetry method. An oximeter probe with a cable attachment and a connection to the oximeter monitor is included in the cerebral oximeter setup.
During the forecast period, the need for non-invasive monitoring technologies is predicted to expand significantly. The primary reasons behind this rising demand are the growing incidence of neurological illnesses along with the rising aged population. The market is expanding as a result of the introduction of new products with enhanced accuracy and usability in the cerebral oximetry monitoring field of technology.
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Regulating the process of anesthesia, this aids in ensuring that the brain receives adequate amounts of oxygen to preserve its health is one of the market’s highly essential goals. By utilizing continuous, non-invasive near-infrared spectroscopy (NIRS) technology or near-infrared technology, cerebral oximeters have a significant role to play in acquiring brain oxygenation readings.
The FDA has been seen to be approving cerebral oximeters on a more frequent basis, which presents market players with an opportunity. Also, there is an increase in the prevalence of neurological disorders worldwide, which is driving up demand for cerebral oximeters as one of the crucial instruments for keeping track of these patients’ oxygen levels.
North America is considered one of the leading economies in the world and has a developed medical device sector. As a result, this region dominates the global cerebral oximetry monitoring market. The market in this region is receiving more attention from industry participants, given the greater usage of cerebral oximeters there. Increasing demand for high-quality care, favorable reimbursement rules, and the dominance of the key companies in this region are the key factors fueling the market’s expansion.
KEY TAKEAWAYS
- Given the increasing demand for non-invasive brain function monitoring and technological improvements, the United States cerebral oximetry monitoring market is anticipated to rise steadily.
- Owing to the growing occurrence of neurological disorders and the expanding use of cerebral oximetry monitoring in surgical operations, the market in the United Kingdom is predicted to expand.
- Given the increasing prevalence of cerebrovascular illnesses and the growing emphasis on improving patient outcomes through real-time brain function monitoring during operations, the market in China is predicted to experience substantial development.
- Owing to an aging population and an increase in the frequency of brain and cardiovascular disorders, the market is estimated to be growing consistently in Japan.
COMPETITIVE LANDSCAPE
Manufacturers in the cerebral oximetry monitoring market are concentrating on creating cutting-edge technologies and devices that offer precise and immediate monitoring of the levels of oxygenation in the brain. To increase the efficacy and efficiency of these items, they are also making investments in research and development. To broaden their market reach and enhance patient outcomes, manufacturers are also working with healthcare professionals and increasing their distribution networks.
RECENT DEVELOPMENTS
- Masimo reported that O3 Regional Oximetry was given FDA approval for extended usage in August 2020. This included monitoring changes in hemoglobin, oxy-hemoglobin, and deoxy-hemoglobin in adult brains as well as somatic tissue oxygenation saturation in all patient groups.
- The NellcorTM Bedside Respiratory Patient Monitoring system was introduced by Medtronic in 2021. Clinicians can immediately identify and respond to respiratory distress owing to the system’s continuous monitoring of patients’ oxygenation and respiratory status.
Key Players
- Masimo
- GE Healthcare
- Medtronic
- Nonin
- Mespere LifeSciences
- Edwards Lifesciences Corporation
- ISS, Inc.
- Hamamatsu Photonics K.K.
- Terumo Cardiovascular Systems Corporation
Cerebral Oximetry Monitoring Market Segmentation
Cerebral Oximetry Monitoring Industry By Application:
- Cerebral Oximetry Monitoring for Cardiac Surgery
- Cerebral Oximetry Monitoring for Vascular Surgery
- Cerebral Oximetry Monitoring for Others
Cerebral Oximetry Monitoring Industry By Age Group:
- Cerebral Oximetry Monitoring for Pediatric
- Cerebral Oximetry Monitoring for Adult
Cerebral Oximetry Monitoring Industry By End User:
- Cerebral Oximetry Monitoring for Hospitals & Clinics
- Cerebral Oximetry Monitoring for Ambulatory Surgical Centers
- Cerebral Oximetry Monitoring for Others
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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