ID: MRFR/HC/6373-HCR | 100 Pages | Author: Rahul Gotadki | June 2023
The cerebral oximetry monitoring market size is expected to reach USD 139.23 million by 2030 at 7.10% CAGR During the ongoing forecast period of 2022-2030. There has been a high degree of ongoing technological advancements in the devices used for monitoring. Cerebral oximetry is a procedure that is used in an array of clinical applications like vascular and cardiac surgeries.The cerebral oximeter setup comes inclusive of an oximeter probe that has its attachment to the cable and further, is connected to the oximeter monitor. Most of the oximeters lend their support to 2-4 probes alongside their respective monitor cables. The whole process of light detectors helps in the reflection of light after returning to the surface.
COVID 19 Analysis of Cerebral Oximetry Monitoring Market
The pandemic has brought major changes to the healthcare industry and service providers and further has forced people to give up their way of living and opt for quick changes to match the need of the hour that is to opt for healthier and safer means. The pandemic situation had worsened as there were infection waves and the degree of severity was rising. Some of the countries belonging to the APAC region like India witnessed a major spike in cases with the respiration of people at stake that resulted in the reduction of oxygen levels ultimately resulting in a higher death rate.
The main aim of the cerebral oximetry monitoring market is to help the people with a large-scale availability of the demanded products that will help at times of dire need. The government is also helping the market players by rolling funds and schemes that support the mass production and availability of products.
Cerebral Oximetry Monitoring Market DynamicsDrivers
The cerebral oximetry monitoring market is likely to grow at a good rate during the forecast period as there is a rise in the increase of traumatic brain injuries alongside the sustained efforts by the manufacturers’ end to ring in and employ technological advancements that will help the market come across various opportunities for growth and expansion during the period.
However, one of the major restraints that the market is likely to come across during the forecast period is that there is a high cost associated with the process of acquiring the right kind of equipment. Also, the devices are complex to use which pushes for the requirement of skilled professionals only. Unavailability of the same restraints the market from growing as per the expectations during the ongoing forecast period that ends in 2030.
One of the most fundamental aims of the market is to regulate the process of anesthesia that helps in maintaining the availability of a proper amount of oxygen to the tissues and organs and does not miss out on the brain. Cerebral oximeters have a major role to play in obtaining cerebral oxygenation values by making use of continuous and non-invasive near-infrared spectroscopy (NIRS) technology or near-infrared technology. Also, with the increasing government focus on the development of schemes and discussions, there is an expectation of a gradual rise in the level of awareness related to neurodegenerative diseases.
Cerebral Oximetry Monitoring Market Segmentation
The market of cerebral oximetry monitoring has been divided all across the globe based on age, monitoring type, end-users, and region.
Based on the Age
The cerebral oximetry monitoring market has been divided all across the globe based on age into pediatrics and adults. The adults’ segment holds the largest market share.
Based on the Monitoring Type
The cerebral oximetry monitoring market has been divided all across the globe based on the monitoring type into pediatrics, vascular surgery (carotid endarterectomy hyperfusion syndrome, carotid endarterectomy), and cardiac surgery (deep hypothermic circulatory arrest and coronary artery bypass surgery).
Based on the End-Users
The market has been divided all across the globe based on the end-users into ambulatory surgical centers, clinics, hospitals, and others.
Based on the Application
The cerebral oximetry monitoring market has been divided all across the globe based on the application into Cardiac surgery, Vascular surgery.
Based on the Region
The cerebral oximetry monitoring market has been divided in the global market based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.
Cerebral Oximetry Monitoring Market Regional Analysis
The cerebral oximetry monitoring market has been divided all across the globe based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. The North American region holds the largest market share in the global market due to countries like the US, Canada, and Mexico. Moreover, the increasing demand for non-invasive products and the growing concentration of major manufacturers in this region drive demand. Increasing research and development is another driving factor.
The second-largest market share in the global cerebral oximetry monitoring market is held by the European region owing to the presence of countries like Germany, France, and the UK that drive the market demand to this region. Moreover, the presence of a well-established technologically advanced healthcare system is another driving force.
Being the fastest-emerging economy, the Asia-Pacific region holds the third-largest market share in the global cerebral oximetry monitoring market. Owing to the presence of countries like Australia, India, China, the Republic of Korea, and Japan that drives the market demand in this region. The presence of major key players in this region is another factor that fuels the market growth.
The Latin American region and the Middle East and African region hold the least market share due to the presence of inadequate infrastructure in both these regions. Moreover, lower per capita disposable income is yet another contributing factor that hinders the market growth in these regions.
The most prominent major key players in the cerebral oximetry monitoring market all across the globe are mentioned below:
These major key players use various strategies to sustain their market position in the cerebral oximetry monitoring market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a unique production process, and many others to expand their customer base in the untapped market of the cerebral oximetry monitoring all across the globe.
This global cerebral oximetry monitoring market research report consists of the following elements mentioned below:
This market research report contains factors that drive the market growth of the cerebral oximetry monitoring and the factors that restrict its growth in the global market. The technical analysis in the global market during the forecasted period is mentioned. The impact of COVID 19 on the cerebral oximetry monitoring market all across the globe is mentioned. The future growth rate in the market of cerebral oximetry monitoring during the forecasted period is stated.
Various research and consulting firms, contract research organizations, hospitals, clinics, and associations, cerebral oximetry monitoring products and distributors, cerebral oximetry monitoring products manufacturers, and others.
Cerebral oximetry monitoring market is projected to grow at a 7.10% CAGR between 2022-2030.
The Americas is expected to dominate the cerebral oximetry monitoring market.
Cerebral oximetry monitoring is widely used for pediatrics, vascular surgery, and cardiac surgery.
Rising number of cardiac surgeries and demand for non-invasive procedures are the key factors driving the cerebral oximetry monitoring market.
Low measurement may limit the cerebral oximetry monitoring market growth.
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