CEREBRAL SOMATIC OXIMETERS MARKET ANALYSIS

The global cerebral somatic oximeters market is estimated to be valued at US$ 195.2 million in 2023 and is expected to exhibit a CAGR of 7.9% during the forecast period (2023-2030).

Analysts’ Views on Global Cerebral Somatic Oximeters Market:

Increasing use of cerebral somatic oximeters in the diagnosis of various disorders like strokes, postoperative neurocognitive deficits, etc. is expected to drive the global cerebral somatic oximeters market over the forecast period. For instance, in December 2021, according to National Center for Biotechnology Information (NCBI), stated that excessively increased cerebral oximeter values during major cardiac surgery may predict the development of postoperative neurocognitive deficits.

Figure 1. Global Cerebral Somatic Oximeters Market Share (%), By Application, 2023

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Global Cerebral Somatic Oximeters Market – Driver

Increasing prevalence of strokes

Increasing prevalence of stroke requires the use of cerebral somatic oximeters for the monitoring of patients, which is expected to drive the cerebral somatic oximeters market over the forecast period. For instance, in February 2022, data published by National Center for Biotechnology Information (NCBI), stated that the incidence of stroke ranges from 108 to 172 per 100,000 people per year in India.

Figure 2. Global Cerebral Somatic Oximeters Market Value (US$ Million), By Region, 2023

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Global Cerebral Somatic Oximeters Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global cerebral somatic oximeters market over the forecast period. North America holds 39.7% of the market share due to the increasing prevalence of cardiac diseases in the region. For instance, in January 2022, according to American Heart Association, Inc., a nonprofit organization in the U.S., stated that cardiovascular disease (CVD), listed as the underlying cause of death, accounted for 874,613 deaths in the U.S. in 2020.

Global Cerebral Somatic Oximeters Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a negative impact on the global cerebral somatic oximeters market as the hospitals needed to sort out the urgency of their daily surgical procedures. For instance, according to an article published by PubMed Central, in July 2020, a survey was conducted and it was found that all hospitals had to think about non-surgical options whenever they could due to the urgency of their daily surgical treatments.

Global Cerebral Somatic Oximeters Market Segmentation:

The global cerebral somatic oximeters market report is segmented into Product Type, Patient Type, Application, End User, and Region

Based on Product Type, the market is segmented into dual emitter and dual detector, single emitter and dual detector, and others. Out of which, the dual emitter and dual detector segment is expected to dominate the cerebral somatic oximeters market during the forecast period and this is due to the increase in the usage of the dual emitter and dual detector for the cerebral somatic oximeters procedure.

Based on Patient Type, the cerebral somatic oximeters market is segmented into pediatrics, adults, and others. The adult segment is expected to dominate the market over the forecast period and this is attributed to the increasing use of cerebral somatic oximeters in adults.

Based on Application, the market is segmented into cardiac surgery, vascular surgery, and others. Out of which, the cardiac surgery segment is expected to dominate the cerebral somatic oximeters market during the forecast period and this is due to the increasing prevalence of cardiac diseases.

Based on End User, the market is segmented into hospitals and clinics, ambulatory surgical centers, and others. Out of which, the hospitals segment is expected to dominate the cerebral somatic oximeters market during the forecast period and this is due to the increasing use of cerebral somatic oximeters in hospitals.

Among all segmentation, the application segment has the highest potential due to the increasing usage of cerebral somatic oximeters due to increased cardiac diseases. For instance, in August 2022, according to an article published by the New York State Department of Health, about 697,000 people die due to cardiac disease in the U.S. every year.

Global Cerebral Somatic Oximeters Market Cross Sectional Analysis:

In application segment, cardiac surgery holds a dominant segment in North America region due to the increasing prevalence of cardiac disorders. For instance, in July 2020, according to Healthline Media LLC, a consumer health publisher, about 647,000 people die due to cardiac disease every year which makes it the leading cause of death in the U.S.

Global Cerebral Somatic Oximeters Market: Key Developments

• Increasing product approvals by regulatory authorities is expected to drive the global cerebral somatic oximeters market growth over the forecast period. For instance, in August 2020, Masimo, a global medical technology company, announced that O3 Regional Oximetry has received Food and Drugs Administration (FDA) clearance for expanded use in monitoring somatic tissue oxygenation saturation in all patient populations and monitoring relative changes in hemoglobin, oxyhemoglobin, and deoxyhemoglobin in adult brains.
• In December 2021, Medtronic, a global leader in healthcare technology, announced that the U.S. Food and Drug Administration (FDA) has granted 510(k) clearance for its INVOS 7100 cerebral/somatic oximetry system for children from birth through age 18.

Global Cerebral Somatic Oximeters Market: Key Trends

Increasing prevalence of cardiac disorders

Increasing prevalence of cardiac disorders needs effective factors for the management of cardiac disorders which is expected to drive the cerebral somatic oximeters market growth over the forecast period. For instance, in June 2021, World Health Organization (WHO) stated that cardiovascular diseases (CVDs) are the leading cause of death, with 17.9 million deaths due to cardiovascular diseases globally, every year.

Global Cerebral Somatic Oximeters Market: Restraint

Disadvantages of cerebral somatic oximeters

The global cerebral somatic oximeters market can be hindered by the disadvantages of cerebral somatic disorders. For instance, in September 2021, according to a report published by National Center for Biotechnology Information (NCBI), the disadvantage of cerebral somatic oximeters is that the method is invasive, it is less sensitive to regional cerebral ischemia and hypoxia, etc.

Global Cerebral Somatic Oximeters Market - Key Players

Major players operating in the global cerebral somatic oximeters market include Medtronic, Nonin, Edwards Lifesciences Corporation, ISS, Inc., Masimo, Hamamatsu Photonics K.K., Mespere LifeSciences, CLINOCARE, HyperMed Imaging, Inc., Terumo Corporation, Quantek Instruments.

*Definition: Cerebral Somatic Oximeters provide a continuous non-invasive measurement of cerebral oxygen saturation and a reliable indication of changes in cerebral perfusion. It also provides additional information along with noninvasive blood pressure and means arterial pressure to provide a more accurate estimate of cerebral desaturation.