Cerebral Somatic Oximeters - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Cerebral Somatic Oximeters - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market for cerebral somatic oximeters is expected to witness healthy growth over the forecast period. The growth is majorly attributed to the rising incidence of neurological diseases and the growing adoption of cerebral oximeters in developed economies such as North America and Europe.

It has been observed that the US FDA is increasingly approving the cerebral oximeters which are posing an opportunity for the market players. Also, the burden of neurological diseases across the globe is on the rise which is augmenting the demand for cerebral oximeters as it is one of the important tools used to monitor the level of oxygen in such patients. In addition, acceptance of the general population across the globe to opt for slightly invasive surgeries is fuelling the demand for cerebral oximeters. With the rising adoption of these devices and the continuously evolving medical device industry, the market studied is expected to witness robust growth over the forecast period.

Key Market TrendsCardiac Surgery is Expected to Witness Healthy Growth in the Future

The regional cerebral oximetry with the use of near-infrared spectroscopy devices is most commonly used for the detection of cerebral ischemia during cardiopulmonary bypass surgery and this aims to avoid poor cerebral perfusion which can result in perioperative neurological impairment. Currently, there is the easy availability of several devices that can detect cerebral ischemia.

With the rising use of cerebral oximeters during the cardiac surgeries, there was a survey conducted during the year 2018 which was published by the National Institute of Health. The survey indicates that rising cardiac surgeries and the commercial availability of the key products from Medtronic or Masimo, the use of cerebral oximeters are increasing in the cardiac procedures. This factor is augmenting the growth of cardiac surgery segment.

Furthermore, the rise in overall surgical procedures is also affecting the market studied in a positive manner.

North America Dominates the Market

Being one of the largest economies in the world, North America has a well-established medical device industry. Added to that, the US FDA is currently approving several devices (cerebral oximeters) which is a beneficial factor for the market studied. The market players are also focusing more on the US market as adoption to the cerebral oximeters is higher in this country. Favorable reimbursement policies, increased demand for the quality treatment and strong presence of the key players in this region are some of the factors that are propelling the market growth.

Competitive Landscape

The market for cerebral somatic oximeters is consolidated and there are few players in the market currently. However, with the rising technological advancements, it is believed that few small to mid-sized companies will be entering the market and hold a substantial share in the future. For the past few years, companies such as Medtronic Plc, Masimo, etc. are catering to the consumers with their innovative devices and it is expected that competition will increase with the penetration of new companies.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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Companies Mentioned

Medtronic Plc
Nonin Medical, Inc.
Edwards Lifesciences
ISS, Inc.
Masimo
Ornim Medical
Hamamatsu Photonics K.K.

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