by The cerebral somatic oximeters market is estimated to be valued at US$ 195.2 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cerebral oximeters are non-invasive medical devices used to monitor brain oxygen levels by measuring the oxygen saturation of hemoglobin in the blood. They help detect hypoxemia or low oxygen levels in the brain. Cerebral oximeters are used during surgery to monitor cerebral oxygenation of patients. They help reduce the risk of brain injury and optimize oxygen delivery during procedures with chances of low oxygen supply to brain.
Market Dynamics:
The cerebral somatic oximeters market growth is primarily driven by increasing number of surgical procedures worldwide and rising cases of brain-related diseases. As per estimates, over 300 million surgical procedures are performed globally every year. With growing burden of lifestyle diseases, surgical cases are increasing rapidly. This is expected to drive the demand for intraoperative cerebral monitoring solutions like cerebral oximeters. Additionally, growing geriatric population susceptible to brain injuries and disorders like cerebral ischemia and stroke is also contributing to the market growth. However, high costs associated with intraoperative cerebral oximeters and lack of skilled professionals are some of the factors expected to restrain the market to a certain extent over the forecast period.
SWOT Analysis
Strength: Cerebral somatic oximeters provide non-invasive, real-time monitoring of regional oxygen saturation in the brain. They enable early detection of critical changes in oxygen levels. These oximeters are easy to use and provide consistent, accurate measurements.
Weakness: Cerebral oximeters are expensive medical devices. Additional costs are involved for probes, sensors and accessories required for continuous monitoring of patients. Interpretation of oximetry data requires trained clinicians.
Opportunity: Growing geriatric population and rising prevalence of neurological disorders increase the risk of Cerebral hypoxia/ischemia. This wide applicability and expanding medical conditions indicate significant market potential for cerebral oximeters. Growing awareness among patients and healthcare providers also creates opportunities.
Threats: Strict regulatory norms increase compliance costs and delays market entry of new products. Reimbursement policies vary across regions posing challenges. Alternative non-invasive monitoring techniques can emerge as substitutes.
Key Takeaways
The Global Cerebral Oximeters Market is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing incidence of neurological disorders, trauma cases and growing number of surgeries. Continuous monitoring solutions are increasingly being adopted for post-operative care.
Regional analysis – North America dominates the global market for cerebral oximeters and is expected to continue dominating over the forecast period. Factors such as increasing neurological diseases, high healthcare spending and favorable reimbursement policies drive the North American market. Asia Pacific exhibits the fastest growth due to strengthening healthcare systems, growing medical tourism and escalating disposable incomes in emerging countries.
Key players operating in the cerebral somatic oximeters market are Medtronic, Nonin, Edwards Lifesciences Corporation, ISS, Inc., Masimo, Hamamatsu Photonics K.K., Mespere LifeSciences, CLINOCARE, HyperMed Imaging, Inc., Terumo Corporation, Quantek Instruments. Major players focus on new product launches, FDA approvals and geographical expansions to consolidate their market positions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
