USD 189.04 Billion
Cerebral Oximetry Monitoring Market Size, Share, Growth Analysis, By Age Group(Pediatric, and Adult), By End-use(Hospitals & Clinics, Ambulatory Surgical Centers, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2364 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
62
|Figures:
75
Cerebral Oximetry Monitoring Market Insights
Cerebral Oximetry Monitoring Market size was valued at USD 202.65 Billion in 2022 and is poised to grow from USD 217.24 Billion in 2023 to USD 378.87 Billion by 2031, at a CAGR of 7.2% during the forecast period (2024-2031).
Cerebral oximetry monitoring involves the use of non-invasive technology to assess the oxygenation status of the brain in real-time. This market analysis offers key information on market size, trends, competitive landscape, and growth opportunities within the sector. The purpose of the global cerebral oximetry monitoring market is to improve patient care and outcomes by providing healthcare professionals with crucial information about cerebral oxygenation. Monitoring cerebral oxygen saturation levels is vital in various clinical scenarios, such as cardiac surgeries, critical care units, and neonatal care, as it helps detect and manage cerebral desaturation, optimize cerebral perfusion, and prevent potential neurological complications. The goal is to ensure adequate oxygen supply to the brain, promoting patient safety and reducing the risk of adverse events.
A driving factor for the global cerebral oximetry monitoring market is the increasing recognition of the importance of cerebral oxygenation monitoring in healthcare settings. Healthcare providers and regulatory bodies are placing greater emphasis on patient safety and optimizing perioperative care. Cerebral oximetry monitoring offers a valuable tool to assess and manage cerebral oxygenation, enabling healthcare professionals to make informed decisions and interventions to safeguard the well-being of patients during critical procedures. There are restraining factors and challenges that impact the market. One key restraining factor is the cost associated with cerebral oximetry monitoring devices. Advanced monitoring systems require specialized sensors and technology, contributing to higher prices. This cost factor can limit the affordability and accessibility of these devices, particularly in resource-constrained healthcare settings. Additionally, the lack of comprehensive reimbursement coverage for cerebral oximetry procedures may hinder market growth, as healthcare providers face challenges in securing reimbursement for these monitoring services.
Challenges in the market include the need for standardized protocols and guidelines for cerebral oximetry monitoring. While the technology holds immense potential, there is a lack of uniformity in terms of protocols and interpretation of cerebral oxygen saturation values. Establishing clear guidelines and standards would help ensure consistent and effective use of cerebral oximetry monitoring across healthcare facilities, optimizing patient care and outcomes. Despite these challenges, there are significant opportunities in the global cerebral oximetry monitoring market. The increasing prevalence of cardiovascular diseases, advancements in monitoring technology, and the growing adoption of non-invasive monitoring techniques present avenues for market growth. Moreover, the expansion of healthcare infrastructure, particularly in emerging markets, provides opportunities for the adoption of cerebral oximetry monitoring devices.
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Market Snapshot - 2024-2031
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Growth Rate
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Country Share for North America Region (%)
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Cerebral Oximetry Monitoring Market Segmental Analysis
The global cerebral oximetry monitoring market is segmented on the basis of age group, end-use, and region. By age group, the market is segmented into Pediatric, Adult. By end-use, the market is segmented into Hospitals & Clinics, Ambulatory Surgical Centers, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Cerebral Oximetry Monitoring Market Analysis by Age Group
In 2022, the adult segment accounted for the largest revenue share of 67.34%. The growing demand for devices that monitor cerebral oxygen levels in adults is a key driving factor behind this segment's success. An example of the increasing approval of such devices is Masimo's "O3 Regional Oximetry" technology, which received FDA clearance in August 2020. This clearance allows for the monitoring of somatic tissue oxygenation saturation and comparative differences in oxyhaemoglobin, hemoglobin, and deoxyhaemoglobin in adult brains. The expanded use of the O3 technology enables more accurate monitoring of oxygenation levels, leading to improved patient care.
The pediatric segment is poised for lucrative growth throughout the forecast period. This growth is primarily attributed to the extended approval of devices for pediatric use. An instance of such extended approval is Masimo's SedLine brain function system and sensors, which obtained FDA approval in March 2022 for monitoring the brain activity of pediatric anesthetized patients. This approval is expected to fuel the growth of the pediatric segment in the coming years.
Cerebral Oximetry Monitoring Market Analysis by End-use
The hospitals and clinics segment emerged as the dominant force in the cerebral oximetry monitoring market, capturing the largest share of 52.55% in 2022. This can be attributed to the fact that hospitals and clinics provide specialized care and have the necessary infrastructure to perform heart-related surgeries, attracting a significant number of patients. According to a study published by the AJMC, there were approximately 8,273,270 hospitalizations for heart failure between 2014 and 2017. Cerebral oximeters find extensive usage in hospital operating rooms (OR) and intensive care units (ICU) to monitor cerebral desaturation in patients. Therefore, the increasing visits to hospitals and clinics are expected to be a key driving factor for the growth of the cerebral oximetry monitoring market.
Ambulatory surgical centers are poised to experience substantial growth during the forecast period. Ambulatory centers globally conduct a wide range of surgeries for various conditions. In the United States alone, there are over 6,000 ambulatory surgical centers, as reported by the Ambulatory Surgery Association. The widespread availability of these centers enables easy access to treatment for patients and contributes to increased utilization of cerebral oximetry monitoring devices. This trend presents significant growth opportunities in the market.
Global Bariatric Surgery Market By Type
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Cerebral Oximetry Monitoring Market Regional Insights
In 2022, North America emerged as the dominant region in the cerebral oximetry monitoring market, capturing the largest revenue share of 37.41%. This can be attributed to the presence of key players and their offerings in the region. Major suppliers such as Medtronic, Edwards Lifesciences Corporation, Nonin, and Masimo provide oximeter devices like the INVOS System, ForeSight System, EQUINOX, and Root with O3 in the United States. These devices are utilized for monitoring cerebral desaturation in cardiac surgery, with applications in intensive care units (ICU), operating rooms (OR), and extracorporeal membrane oxygenation (ECMO). The availability of such advanced monitoring devices and the presence of established players contribute to the market's dominance in North America.
Asia Pacific is anticipated to witness the fastest compound annual growth rate (CAGR) of 8.6% during the forecast period. Several factors contribute to the market growth in this region, including an aging population, a growing prevalence of diseases, and a rise in per capita disposable incomes. Research studies have shown that the elderly population is at a higher risk of cardiovascular diseases (CVD) due to comorbid conditions. According to the National Statistical Office report, the elderly population in Asia Pacific was 138 million in 2021 and is projected to reach 194 million by 2021. Additionally, the number of individuals aged 80 years and above is expected to double by 2050, surpassing 1.5 billion globally.
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Cerebral Oximetry Monitoring Market Dynamics
Cerebral Oximetry Monitoring Market Drivers
Increasing Awareness of Patient Safety
- Patient safety has emerged as a key driver in the cerebral oximetry monitoring market. Healthcare providers and regulatory bodies have placed a greater emphasis on improving patient outcomes and reducing the risk of adverse events during surgical procedures. Cerebral oximetry monitoring plays a crucial role in assessing and optimizing cerebral oxygenation, which is essential for patient safety during surgeries, particularly cardiac and vascular procedures. The growing awareness of the importance of patient safety has driven the adoption of cerebral oximetry monitoring devices.
Rising Incidence of Cardiovascular Diseases
- The increasing prevalence of cardiovascular diseases (CVD) worldwide has acted as a driver for the cerebral oximetry monitoring market. CVDs, such as heart failure and coronary artery disease, often require surgical interventions that involve cardiac and cerebral perfusion management. Cerebral oximetry monitoring provides real-time information about cerebral oxygen saturation levels, aiding healthcare professionals in optimizing cerebral perfusion and reducing the risk of perioperative neurological complications. The rising incidence of CVDs has created a demand for cerebral oximetry monitoring devices in cardiac surgical settings.
Cerebral Oximetry Monitoring Market Restraints
High Cost of Cerebral Oximetry Monitoring Devices
- One of the primary restraints in the cerebral oximetry monitoring market is the high cost associated with acquiring and maintaining monitoring devices. Cerebral oximeters utilize advanced technology and require specialized sensors and equipment, contributing to their higher price point. This cost factor can limit the affordability and accessibility of these devices, particularly in healthcare settings with budget constraints, hindering market growth.
Limited Reimbursement Coverage
- Another restraint is the limited reimbursement coverage for cerebral oximetry monitoring procedures. Healthcare reimbursement policies and guidelines vary across different regions and countries, which can impact the adoption of cerebral oximetry monitoring devices. The lack of comprehensive reimbursement coverage or specific reimbursement codes can create barriers for healthcare providers, affecting their willingness to invest in and utilize these monitoring technologies.
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Cerebral Oximetry Monitoring Market Competitive Landscape
The global cerebral oximetry monitoring market is characterized by the presence of several key players striving to gain a competitive edge and capture a significant market share. These players engage in activities such as product development, strategic partnerships, and mergers and acquisitions to expand their product portfolios and strengthen their market position. Strategic partnerships and collaborations are another key aspect of the competitive landscape. Companies form alliances with healthcare institutions, research organizations, and other industry players to foster innovation, expand their customer base, and access new markets. For instance, Medtronic has collaborated with leading medical centers and academic institutions to conduct clinical studies and gather real-world data to validate the efficacy of their cerebral oximetry monitoring devices.
Cerebral Oximetry Monitoring Market Top Player’s Company Profiles
- Medtronic (US)
- Masimo Corporation (US)
- Nonin Medical (US)
- Hamamatsu Photonics K.K. (Japan)
- CAS Medical Systems (a subsidiary of Edwards Lifesciences) (USA)
- Ornim Medical (Israel)
- Natus Medical Incorporated (US)
- Somanetics Corporation (US)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
- GE Healthcare (US)
- Hutchinson Technology Inc. (US)
- Yokogawa Electric Corporation (Japan)
- Nihon Kohden Corporation (Japan)
- AdvanSource Biomaterials Corporation (US)
- Hitachi Ltd. (Japan)
- Philips Healthcare (Netherlands)
- Spiegelberg GmbH & Co. KG (Germany)
- ISS (International Stemcell Services Ltd.) (UK)
- Perimed AB (Sweden)
Cerebral Oximetry Monitoring Market Recent Developments
- In May 2023, Natus Medical announced the launch of its Natus OxiMax™ Cerebral Oximeter, a device that provides continuous monitoring of cerebral oximetry in the neonatal intensive care unit.
- In April 2023, Mindray Medical launched its M1000 Cerebral Oximeter, a portable device that provides continuous monitoring of cerebral oximetry in the emergency department.
- In March 2023, Medtronic announced the launch of its OxiMax™ Cerebral Oximeter, a device that provides continuous monitoring of cerebral oximetry in the intensive care unit.
- In January 2023, Masimo announced the launch of its Root®6700 Cerebral Oximeter, a portable device that provides continuous monitoring of cerebral oxygen saturation (SpO2) and regional cerebral oxygen saturation (rSO2).
Cerebral Oximetry Monitoring Key Market Trends
- Technological Advancements in Monitoring Devices: A key trend in the cerebral oximetry monitoring market is the continuous advancement of monitoring devices. Manufacturers are investing in research and development to enhance the accuracy, functionality, and user-friendliness of cerebral oximeters. These advancements include features like wireless connectivity, improved data analysis capabilities, and integration with electronic health records, enabling seamless monitoring and data management. Technological innovations are aimed at providing healthcare professionals with more comprehensive and reliable information for optimal patient care.
- Increasing Focus on Patient-Centric Care: There is a growing trend towards patient-centric care in the healthcare industry, which is influencing the cerebral oximetry monitoring market. Healthcare providers are increasingly focusing on delivering personalized care and improving patient outcomes. Cerebral oximetry monitoring aligns with this trend by providing individualized monitoring and optimizing cerebral oxygenation for each patient's specific needs. The shift towards patient-centric care is driving the adoption of cerebral oximetry monitoring devices as part of a comprehensive care approach.
Cerebral Oximetry Monitoring Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global cerebral oximetry monitoring market analysis, it is expected to experience significant growth during the forecast period from 2022 to 2030. The market can be analyzed in detail to understand its size, trends, and key factors driving its growth. Market analysis involves examining factors such as market size, growth rate, competitive landscape, and key trends. This analysis provides insights into the demand for cerebral oximetry monitoring devices worldwide, highlighting the importance of monitoring cerebral oxygenation levels in various healthcare settings. By studying market dynamics, including drivers and trends, we can gain a better understanding of the factors fuelling market growth. Additionally, analyzing the market by application, end-user, and region allows us to identify specific segments that are driving the market's expansion. This detailed market analysis provides valuable information for stakeholders, enabling them to make informed decisions, develop effective strategies, and capitalize on growth opportunities in the cerebral oximetry monitoring market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 202.65 Billion |
| Market size value in 2031 | USD 378.87 Billion |
| Growth Rate | 7.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cerebral Oximetry Monitoring Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cerebral Oximetry Monitoring Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cerebral Oximetry Monitoring Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cerebral Oximetry Monitoring Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cerebral Oximetry Monitoring Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cerebral Oximetry Monitoring Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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