Cerebral Somatic Oximeters Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 191.21 Million |
| Market Size (2029) | USD 258.30 Million |
| CAGR (2024 - 2029) | 6.23 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cerebral Somatic Oximeters Market Analysis
The Cerebral Somatic Oximeters Market size is estimated at USD 191.21 million in 2024, and is expected to reach USD 258.30 million by 2029, growing at a CAGR of 6.23% during the forecast period (2024-2029).
- The market for cerebral somatic oximeters is expected to witness healthy growth during the forecast period. This 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.
- According to an article published in the National Center for Biotechnology Information (NCBI) in April 2022, hypoxic-ischemic encephalopathy (HIE) is reported in one to six per 1,000 live births in developed countries and 26 per 1,000 live births in developing countries. The high burden of such neurological diseases propels the demand for cerebral somatic oximeters to detect the oxygen levels in the brain, thereby boosting market growth.
- In addition, cerebral oximetry is used routinely in some neonatal intensive care units (NICUs). For instance, as per an article published in Frontiers in Pediatrics Journal in April 2022, cerebral oximetry is utilized in the context of cardiac surgery and is used almost universally as a clinical routine in the perioperative care of newborn infants with congenital heart disease and neonatology. As per the article, a clinical trial is currently ongoing to assess the importance of cerebral oximetry in severe brain injury in the neonatal department. The rising research studies are expected to propel the utility of cerebral somatic oximeters in the detection of oxygen levels of various brain and cardiac diseases during the forecast period.
- Therefore, owing to the aforementioned factors, such as the high burden of neurological diseases and technologically advanced product approvals, the cerebral somatic oximeters market is anticipated to witness growth during the forecast period. However, the high cost of the device due to the expensive sensors used in the cerebral oximeters is estimated to restrain the market’s growth.
Cerebral Somatic Oximeters Market Trends
Cardiac Surgery is Expected to Hold a Significant Market Share During the Forecast Period
- Cardiovascular surgeries, by application, are expected to hold a significant market share in the cerebral oximetry market during the forecast period. The increased demand for these devices in aortic surgery, arrhythmia surgery, myomectomy, and coronary artery bypass graft (CABG) procedures can be attributed to their ability to minimize the risk of complications and reduce anastomotic leaks.
- The major factors attributing to the growth of cerebral oximeters are a deskbound lifestyle lacking physical activity, lack of proper diet, anxiety, and stress resulting in chronic diseases, thereby leading to the prevalence of multiple cardiovascular diseases (CVD). For instance, according to the Centers for Disease Control and Prevention (CDC) and National Center for Health Statistics, in 2022, angina was reported in 1.5% of the adult population aged 18 years and over in the United States.
- According to the Australian Bureau of Statistics, March 2022 update, the prevalence of heart disease in Australia was 4.0%, which represented 1.0 million people in 2021. Heart diseases such as angina, heart attack, stroke, and other cardiovascular diseases were more common in males than females (4.9% compared to 3.1%). Thus, the high burden of cardiovascular diseases worldwide is expected to lead to a high number of CABG procedures worldwide, which is expected to propel the segment’s growth during the forecast period.
- Furthermore, a research article published in PLOS One Journal in December 2022 stated that the cerebral oximeter is frequently used to detect changes in cerebral oxygen saturation and cerebral ischemia during cardiac surgery. As per the same source, between 25% and 80% of patients who underwent major heart surgery experienced postoperative neurocognitive impairments (POND) during the course of the study. During major cardiac surgery, the use of a cerebral oximeter is crucial to predicting the onset of POND. The study also suggested that increased cerebral oximeter levels during cardiac surgery may also be a risk factor for POND. Thus, the high utility of cerebral somatic oximeters in research studies is expected to propel its demand during cardiac surgery, which is projected to augment segment growth.
- Therefore, the high burden of cardiac surgery performed worldwide, along with the use of cerebral oximeters in cardiac surgery, is expected to significantly impact the growth of the segment during the forecast period.
North America is Expected to Hold a Significant Market Share During the Forecast Period
- North America is expected to hold a significant market share owing to factors such as the rising incidence of neurological diseases, the growing geriatric population, better healthcare infrastructure, and the strong presence of industry players in the region.
- The data updated by Cedars-Sinai in January 2022 reported that coronary artery bypass graft surgery (CABG), also known as coronary artery bypass or bypass surgery, is the most common heart surgery and more than 300,000 people have successful bypass surgery in the United States each year. Thus, the high burden of CABG procedures in the United States is expected to propel the high utility of cerebral somatic oximeters and also create opportunities for developing technologically advanced products, propelling the growth of the segment.
- Furthermore, according to the Alzheimer's Association, the number of Americans living with Alzheimer's is growing rapidly. The data from alzheimers.org suggested that in 2022, in the United States, an estimated 6.2 million Americans aged 65 and older had Alzheimer 's-related dementia. Thus, the high burden of neurological diseases in the region is expected to propel the growth of the cerebral somatic oximeters used for the detection of oxygen levels of the brain, which is projected to propel the market’s growth.
- In addition, as per the National Institute of Health (NIH) Estimates of Funding for Various Research, Condition, and Disease Categories (RCDC), 2022 update, the research spending on cerebral palsy was USD 30 million in 2021 and estimated to be USD 32 million in 2022 in the United States. Cerebral oximeters are widely used in these diseases for routine oxygen level detection. The high spending on the research of diseases is expected to create opportunities for developing innovative cerebral somatic oximeters, thereby boosting market growth in the region during the forecast period.
- Thus, owing to all the abovementioned factors, the market studied is expected to witness high growth in the region.
Cerebral Somatic Oximeters Industry Overview
The cerebral somatic oximeters market is moderately consolidated due to the presence of few market players. The major players have established themselves in specific segments of the market. Furthermore, the companies compete in emerging regions with global players and established local players. Key players are developing and launching novel products and technologies to compete with existing products, while others are acquiring and partnering with other companies trending in the market. Some key players are Masimo, Medtronic PLC, Edwards Lifesciences, Nonin Medical Inc., ISS Inc., GE Healthcare Inc., Koninklijke Philips NV, and Mespere LifeSciences.
Cerebral Somatic Oximeters Market Leaders
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Masimo
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Medtronic Plc
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Edwards Lifesciences
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Nonin Medical, Inc.
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ISS Inc.
*Disclaimer: Major Players sorted in no particular order
Cerebral Somatic Oximeters Market News
- June 2023: GE Healthcare partnered with Medtronic to integrate advanced INVOS regional oximetry and Microstream capnography technologies into the CARESCAPE precision monitoring platform.
- March 2022: Medtech company Masimo, which specializes in non-invasive patient monitoring technologies, was granted an expanded Food and Drug Administration (FDA) approval for using its SedLine brain function monitoring system and sensors. The system has been approved for use as an anesthetic effectiveness assessment tool for a one-year-old patient in the United States.
Cerebral Somatic Oximeters Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumption and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Incrreasing Adoption of the Cerebral Oximeters
- 4.2.2 Rising Incidence of Neurological Diseases
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4.3 Market Restraints
- 4.3.1 High Cost of the Device
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
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5.1 By Type
- 5.1.1 Dual Emitter and Dual Detector
- 5.1.2 Single Emitter and Dual Detector
- 5.1.3 Other Types
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5.2 By Application
- 5.2.1 Cardiac Surgery
- 5.2.2 Vascular Surgery
- 5.2.3 Other Applications
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5.3 By Patient Type
- 5.3.1 Pediatrics
- 5.3.2 Adults
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5.4 By End User
- 5.4.1 Hospitals and Clinics
- 5.4.2 Ambulatory Surgical Centers
- 5.4.3 Other End Users
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5.5 By Geography
- 5.5.1 North America
- 5.5.1.1 United States
- 5.5.1.2 Canada
- 5.5.1.3 Mexico
- 5.5.2 Europe
- 5.5.2.1 Germany
- 5.5.2.2 United Kingdom
- 5.5.2.3 France
- 5.5.2.4 Italy
- 5.5.2.5 Spain
- 5.5.2.6 Rest of Europe
- 5.5.3 Asia-Pacific
- 5.5.3.1 China
- 5.5.3.2 Japan
- 5.5.3.3 India
- 5.5.3.4 Australia
- 5.5.3.5 South Korea
- 5.5.3.6 Rest of Asia-Pacific
- 5.5.4 Middle East and Africa
- 5.5.4.1 GCC
- 5.5.4.2 South Africa
- 5.5.4.3 Rest of Middle East and Africa
- 5.5.5 South America
- 5.5.5.1 Brazil
- 5.5.5.2 Argentina
- 5.5.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Medtronic PLC
- 6.1.2 Nonin Medical Inc.
- 6.1.3 Edwards Lifesciences
- 6.1.4 ISS Inc.
- 6.1.5 Masimo
- 6.1.6 GE Healthcare Inc.
- 6.1.7 Koninklijke Philips NV
- 6.1.8 Mespere LifeSciences
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Cerebral Somatic Oximeters Industry Segmentation
Cerebral oximeters enable continuous non-invasive monitoring of cerebral oxygenation and utilize similar physical principles to pulse oximeters.
The cerebral somatic oximeters market is segmented by type, application, end-user, patient type, and geography. By type, the market is segmented as dual emitter and dual detector, single emitter and dual detector, and other types. By application, the market is segmented into cardiac surgery, vascular surgery, and other applications. By end user, the market is segmented as hospitals and clinics, ambulatory surgical centers, and other end users. By patient type, the market is segmented into pediatrics and adults. By geography, the market is segmented as North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally.
The report offers the value (USD) for the above segments.
| By Type | Dual Emitter and Dual Detector | |
| Single Emitter and Dual Detector | ||
| Other Types | ||
| By Application | Cardiac Surgery | |
| Vascular Surgery | ||
| Other Applications | ||
| By Patient Type | Pediatrics | |
| Adults | ||
| By End User | Hospitals and Clinics | |
| Ambulatory Surgical Centers | ||
| Other End Users | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| By Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| By Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Cerebral Somatic Oximeters Market Research FAQs
How big is the Cerebral Somatic Oximeters Market?
The Cerebral Somatic Oximeters Market size is expected to reach USD 191.21 million in 2024 and grow at a CAGR of 6.23% to reach USD 258.30 million by 2029.
What is the current Cerebral Somatic Oximeters Market size?
In 2024, the Cerebral Somatic Oximeters Market size is expected to reach USD 191.21 million.
Who are the key players in Cerebral Somatic Oximeters Market?
Masimo, Medtronic Plc, Edwards Lifesciences, Nonin Medical, Inc. and ISS Inc. are the major companies operating in the Cerebral Somatic Oximeters Market.
Which is the fastest growing region in Cerebral Somatic Oximeters Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Cerebral Somatic Oximeters Market?
In 2024, the North America accounts for the largest market share in Cerebral Somatic Oximeters Market.
What years does this Cerebral Somatic Oximeters Market cover, and what was the market size in 2023?
In 2023, the Cerebral Somatic Oximeters Market size was estimated at USD 179.30 million. The report covers the Cerebral Somatic Oximeters Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Cerebral Somatic Oximeters Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Cerebral Somatic Oximeters Industry Report
Statistics for the 2024 Cerebral Somatic Oximeters market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cerebral Somatic Oximeters analysis includes a market forecast outlook to for 2024 to 2029) and historical overview. Get a sample of this industry analysis as a free report PDF download.
