Cerebral Oximetry Monitoring Market Size: Development, Growth, Trends, Demand, Analysis and Forecast 2023
Market HighlightsThe Global Cerebral Oximetry Monitoring Market anticipated to have held a market value of USD 130 million in the year 2018 and is expected to register a CAGR of 7.1% during the forecast period. Cerebral oximetry is a simple, non-invasive monitoring procedure used in a variety of different clinical applications such as cardiac and vascular surgeries; the technology is evolving and expected to be applicable beyond cardiac surgery.
The market for cerebral oximetry monitoring is anticipated to grow at a steady pace, the major factors influencing the growth of the market include; technological advancement in the field of medical devices, increasing demand for non-invasive procedures, increasing penetration of non-invasive devices in surgical procedures, increasing government programs for the safety of the newborn. However, few limitations such as low measurement, the accuracy of measurement, and limited measurement of regional cerebral oxygenation hamper the growth of the market.
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Geographically the market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The Americas is anticipated to dominate the global cerebral oximetry monitoring market owing to the presence of major manufacturers in the region, favorable reimbursement scenario, increasing demand for non-invasive procedures, increasing technological advancement in the region, and increasing R&D expenses.
The European cerebral oximetry monitoring market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
Europe is expected to hold the second largest position in the global cerebral oximetry monitoring market. The market growth in this region is attributed to the increasing government programs for the safety of newborn in countries such as the UK, Germany, and France.
The cerebral oximetry monitoring market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The cerebral oximetry monitoring market in the Middle East & Africa has been segmented into the Middle East and Africa. The Asia-Pacific region is expected to be the fastest growing region owing to the increasing healthcare development in developing countries.
The Middle East & Africa has the least share of the market and expected to grow at a steady pace due to changing healthcare structure.
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The global cerebral oximetry monitoring market has been segmented into age, application and end user.
Based on age, market segmented into adults and pediatrics. The adults segment is expected to account for the largest share segment of the market in 2017 due to the increasing number of cardiac in the adults.
Based on Application, cerebral oximetry monitoring market is segmented into cardiac surgery (Coronary artery bypass surgery, Deep hypothermic circulatory arrest), vascular surgery (carotid endarterectomy, carotid endarterectomy hyperperfusion syndrome), and pediatrics.
Based on end user, the cerebral oximetry monitoring market segmented into hospitals, clinics, ambulatory surgical centers, and others.
Some of the prominent players in the global cerebral oximetry monitoring market are Medtronic, Philips Healthcare, Masimo, GE Healthcare, Edwards Lifesciences, Mindray Medical, Natus Medical, Honeywell Life Sciences, Welch Allyn, Omron Healthcare, Boston Scientific.