Cerebral and Tissue Oximetry Device Market Size & Share, by Type (Portable, Desktop, Tabletop, Handheld), Application (Clinicals, Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, Research Institutions), Technology (Near-Infrared Spectroscopy, Diffuse Optical Tomography), End-User (Neonates, Adults, Pediatrics) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5837
  • Published Date: Mar 08, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

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.


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Cerebral and Tissue Oximetry Device Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Technological Advancement - The growth of cerebral and tissue oximetry device market is driven by continuous technological progress. The development of more effective and precise monitoring solutions is supported by advances in sensor technology, increased data analysis capabilities as well as wireless connectivity. These advances in technology are attracting healthcare providers seeking state-of-the-art tools to improve patient care.
  • Growing Integration of Home Healthcare - A significant growth opportunity exists for cerebral and tissue oximetry device as a result of the trend towards home healthcare. Patients can manage their health condition from the comfort of their homes, thanks to recent advances in mobile and user-friendly monitoring systems. By developing devices to meet the specific requirements of home healthcare settings, market players can benefit from such an evolving landscape.
  • Partnerships for Research and Development - Strategic growth opportunities exist through collaboration between industry players and research institutions. Companies can speed up the development of new technologies and enhance their use in cerebral and tissue oximetry device by sharing resources and experience. Through the introduction of cutting-edge solutions, such collaboration can foster breakthroughs that address existing limitations and drive growth in the cerebral and tissue oximetry device market

Challenges

  • High Cost of Device - The high cost of cerebral and tissue oximetry device is holding back the market. For smaller healthcare facilities and emerging markets, initial investment and maintenance costs may be too high to be widely adopted. Market players who seek to provide a wide range of healthcare services are confronted with this financial constraint.
  • Limited Reimbursement Policies are set to hinder the market growth in the forecast period.
  • Concerns associated with its accuracy is expected to pose limitation on the cerebral and tissue oximetry device market growth in the forecast period

Cerebral and Tissue Oximetry Device Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~7%

Base Year Market Size

~USD 250 million

Forecast Year Market Size

~USD 3 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Cerebral and Tissue Oximetry Device Segmentation

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:

     Type

  • Portable
  • Desktop
  • Tabletop
  • Handheld

     Application

  • Clinicals
  • Hospitals
  • Ambulatory Surgical Centers
  • Diagnostic Centers
  •  Research Institutions

     Technology

  • Near-Infrared Spectroscopy
  • Diffuse Optical Tomography

     End-User

  • Neonates
  • Adults
  • Pediatrics

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Cerebral and Tissue Oximetry Device Industry - Regional Synopsis

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.

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Companies Dominating the Cerebral and Tissue Oximetry Landscape

top-features-companies
    • Artinis Medical Systems
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Edwards Lifesciences Corp.
    • Hamamatsu Photonics KK
    • HyperMed Imaging Inc.
    • Brain Scientific Inc.
    • Masimo Corp.
    • Medtronic Plc
    • Moor Instruments Ltd.
    • Nihon Kohden Corporation
    • Sotera Health Co.

In-the-news

In The News

  • The acquisition of Brain Scientific, a company specialising in cerebral oximetry monitoring, was announced by Masimo, a global leader in pulse oximetry and patient monitoring technology, in November 2023. This step will reinforce Masimo's position on the market for brain monitoring and broaden its range of non-invasive detection technologies.
  • BrainOx, a medical technology company specialising in cerebral oximetry systems and Nihon Kohden, the leading manufacturer of medical devices, signed an agreement to develop and market solutions for monitoring cerebral oximetry on August 23, 2023. This collaboration with Nihon Kohdens' experience in the production and distribution of medical devices aims to take advantage of BrainOx expertise on brain oximetry technology.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 5837
  • Published Date: Mar 08, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing technological advancement and increasing collaboration for research and development are some of the major factors anticipated to drive the growth of the cerebral and tissue oximetry device market.

The market is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2024-2036.

The major players in the market are of Brain Scientific Inc., Masimo Corp., Medtronic Plc, Moor Instruments Ltd., Nihon Kohden Corporation, Sotera Health Co., and others.

The hospital segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in North America is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Cerebral and Tissue Oximetry Device Market Report Scope
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