USD 202.65 million
Report ID:
SQMIG35A2364 |
Region:
Global |
Published Date: December, 2024
Pages:
157
|Tables:
62
|Figures:
75
Cerebral Oximetry Monitoring Market size was valued at USD 217.24 Billion in 2023 and is poised to grow from USD 232.88 Billion in 2024 to USD 406.15 Billion by 2032, growing at a CAGR of 7.2% during the forecast period (2025-2032).
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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Global Market Size
USD 202.65 million
Largest Segment
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Fastest Growth
gastric bypass
Growth Rate
7.2% CAGR
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Global Cerebral Oximetry Monitoring Market is segmented by application, age group, end-use and region. Based on application, the market is segmented into cardiac surgery, vascular surgery and others. Based on age group, the market is segmented into pediatric and adult. Based on end-use, the market is segmented into hospitals & clinics and ambulatory surgical centers. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
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.
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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 Drivers
Increasing Awareness of Patient Safety
Rising Incidence of Cardiovascular Diseases
Cerebral Oximetry Monitoring Market Restraints
High Cost of Cerebral Oximetry Monitoring Devices
Limited Reimbursement Coverage
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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
Cerebral Oximetry Monitoring Market Recent Developments
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 million |
Market size value in 2031 | USD 378.88 million |
Growth Rate | 7.2% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Million |
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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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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.
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.
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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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Report ID: SQMIG35A2364
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