Cerebral and Tissue Oximetry Device Market size is expected to reach USD 3 billion by the end of 2036, growing at a CAGR of 7% during the forecast period i.e., 2024-2036. In the year 2023, industry size of cerebral and tissue oximetry device was USD 250 million. A significant market driver is the increasing number of surgical procedures performed in traditional operating rooms and outpatient settings. In view of the increasing number of complex procedures, cerebral and tissue oximetry device play an important role in the monitoring of tissue oxygen levels during surgery, enabling surgeons to make informed decisions and potentially reduce complications. In comparison with the global estimate of 5000 surgeries for every 100,000 people, a total of 3646 procedures are expected each year to meet the needs of India's population.
The demand for cerebral and tissues oximetry devices is driven by a growing preference to non-invasive medical surveillance. These technologies are used by both patients and healthcare professionals, because they allow the provision of Realtime data that does not involve inoperative procedures, improve patient comfort and reduce potential risks resulting from traditional methods.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~7% |
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Base Year Market Size |
~USD 250 million |
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Forecast Year Market Size |
~USD 3 billion |
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Regional Scope |
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Application (Clinicals, Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, Research Institutions)
Based on application, the hospital segment is predicted to account for 40% share of the global cerebral and tissue oximetry device market during forecast period 2024-2036. The market was led by hospitals, which were the main end users as they play a central role in patients' care and are responsible for managing critical conditions. In order to enhance real-time monitoring and allow healthcare professionals to make timely decisions, these medical facilities have adopted oximetry devices for cerebral and tissue. In particular in surgery and intensive care settings, these devices have proven to be an important element of ensuring the optimum oxygen level for patients.
Type (Portable, Desktop, Tabletop, Handheld)
In terms of type, the tabletop segment in cerebral and tissue oximetry device market is set to account for the highest CAGR of 60% by the end of 2036. The ease of use and accessibility is offered by Tabletop oximetry devices, which are placed in a convenient location on surfaces such as tables or counters. They are of particular benefit to healthcare professionals for their stable and proven ability to monitor oxygen levels in the brain and tissues. The widespread adoption of table top equipment in various healthcare settings is facilitated by user friendly interfaces and intuitive controls.
Our in-depth analysis of the global cerebral and tissue oximetry device market includes the following segments:
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Type |
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Application |
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Technology |
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End-User |
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North American Market Forecasts
The cerebral and tissue oximetry device market in the North America region is set to hold the largest revenue share of 35% by the end of the forecast period. The increased incidence of heart disease, the increasing number of cardiac surgeries and an increase in US Food and Drug Administration approval of accessories enabling tissue oximetry systems to be compatible with each other are major factors driving market growth. The US Food and Drug Administration approved HemoSphere CX, a product of Edwards Lifesciences Corporation, in September 2019. It's a smart cable that allows HemoSphere's advanced monitoring platform and ForeSight's tissue oximetry sensors to be compatible. Moreover, the robust growth of technology and an increasing number of new products are being introduced into the healthcare industry In North America, the increasing number of R&D activities is driving market growth. The expansion of the regional market is also being fueled by the rise in US FDA certifications and approvals for cerebral and tissue oximetry device in the area. The popularity of the devices is also rising in the region due to the existence of several well-known suppliers that offer technologically sophisticated goods, such as Nonin Medical, Edwards Lifesciences, ISS, Masimo, and HyperMed Imaging.
European Market Statistics
The cerebral and tissue oximetry device market in the Europe region is set to grow significantly by the end of projected period. Europe faces a growing burden of chronic diseases such as cardiovascular diseases, chronic obstructive pulmonary disease, and peripheral artery disease. These conditions often require monitoring of oxygen saturation levels in different tissues, which is where cerebral and tissue oximetry device come in. Nearly one third of individuals aged over 15 a long-time report living with two or more chronic non-communicable infections, 37% of Europeans matured 65 and over have different chronic conditions. Furthermore, the growing focus on minimally invasive procedures in healthcare is creating a demand for smaller and more portable cerebral and tissue oximetry device that can be used during surgery or other procedures.
Author Credits: Radhika Gupta, Shivam Bhutani
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