Cerebral Oximetry Monitoring Market Set to Double in Value, Projected to Reach USD 435.40 Million by 2033 at a 7.2% of CAGR

The global cerebral oximetry monitoring market is estimated to be valued at USD 217.24 million in 2023 and is expected to grow significantly, surpassing USD 435.40 million by 2033. This growth represents a compound annual growth rate (CAGR) of 7.2% from 2023 to 2033.

The market’s expansion can be attributed to the increasing demand for non-invasive monitoring methods in healthcare settings. As patients become more informed and engaged about their health, there is a rising preference for non-invasive monitoring and treatment options. Cerebral oximetry monitoring provides healthcare professionals with valuable real-time data on cerebral oxygen saturation, enhancing patient safety and outcomes during various medical procedures.

For individuals who choose to avoid invasive treatments, cerebral oximetry monitoring is a desirable choice since it offers real-time monitoring of brain oxygen saturation levels. In several medical procedures, such as heart surgery, neurosurgery, and critical care, cerebral oximetry is an important technique for determining cerebral perfusion in real time.

The market is fueled by numerous reasons, including the expanding elderly population, the prevalence of chronic conditions such as cardiovascular diseases, and the increased public awareness of the advantages of cerebral oximetry monitoring. The market is also expected to expand as a direct consequence of technological developments like the incorporation of oximeters into patient monitoring systems.

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 key 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. Furthermore, a gradual increase in knowledge of neurodegenerative disorders is envisaged as a result of the government’s increased attention to the development of strategies and discourses.

The use of wireless oximeters is expanding, research and development spending is rising, and wearable cerebral oximetry monitoring technology is beginning to appear on the market. In ambulatory, cerebral oximetry monitoring is another trend that is becoming more prevalent. By increasing the precision and effectiveness of diagnostic processes, the use of artificial intelligence (AI) and machine learning (ML) technologies in cerebral oximetry monitoring devices is anticipated to fuel market expansion.

Exploring the Regional Patterns of the Cerebral Oximetry Monitoring Market: An In-depth Examination at the Country Level

North America’s Aging Population Drives Cerebral Oximetry Monitoring Market for Early Detection of Cognitive Impairment

In 2022, North America possessed the maximum revenue share of 38% in the global market. This could be attributable to the presence and offers of significant players within the region.

The United States has the leading cerebral oximetry monitoring market in the world, with key manufacturers including Medtronic, Masimo Corporation, Nonin Medical, and CAS Medical Systems, all having a sizable presence. To monitor cerebral desaturation during cardiac surgery, oximeter devices, including the INVOS System, ForeSight System, EQUANOX, and Root with O3, are often supplied in the United States by Medtronic, Edwards Lifesciences Company, Nonin, and Masimo.

These all-monitoring devices can be used in operating rooms (OR), critical care units (ICU), and extracorporeal membrane oxygenation (ECMO). Thus, it is anticipated that growing research efforts to create new cerebral oximeter devices could propel market expansion. The non-invasive INVOS system from Medtronic was approved by the FDA in 2018 for use in newborns.

The market is anticipated to expand at a CAGR of 6.8% from 2023 to 2033, propelled by the aging population, rising incidence of chronic illnesses like Parkinson’s and Alzheimer’s, and the rising number of surgical operations. Healthcare professionals and patients in the United States are becoming increasingly aware of the advantages of cerebral oximetry monitoring. More people are using these devices as a result of increased awareness, which has contributed to market expansion.

The adoption of the western lifestyle, excessive smoking, alcohol consumption, and lack of physical activity led to an estimated 697,000 individuals in the United States having coronary artery disease (CAD) in 2020, according to the centers for disease control and prevention (CDC). The need for cerebral oximetry monitoring equipment to perform safe CAD surgery is anticipated to increase as the number of CAD cases rises.

Medicare medical device and service coverage is determined by the Centers for Medicare and Medicaid Services (CMS). Cerebral oximetry monitoring during cardiac and vascular surgeries was given CMS approval in 2019, which has contributed to an increase in the use of these devices in the United States.

Key Players

• Masimo
• GE Healthcare
• Medtronic
• Nonin
• Mespere LifeSciences
• Edwards Lifesciences Corporation
• ISS, Inc.
• Hamamatsu Photonics K.K.
• Terumo Cardiovascular Systems Corporation

A Full Report Overview

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

Cerebral Oximetry Monitoring Industry By Region:

• Cerebral Oximetry Monitoring in North America Market
• Cerebral Oximetry Monitoring in Europe Market
• Cerebral Oximetry Monitoring in Asia Pacific Market
• Cerebral Oximetry Monitoring in Latin America Market
• Cerebral Oximetry Monitoring in the Middle East & Africa Market

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.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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