Cerebral Oximetry Monitoring Market by Application (Cardiac Surgery, Vascular Surgery, and Others), Age Group (Paediatric and Adult), End-use (Hospitals & Clinics, Ambulatory Surgical Centres, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032

Cerebral Oximetry Monitoring Overview

Cerebral oximetry monitoring is a non-invasive approach that measures the oxygen saturation levels in the brain. It gives real-time information about the adequacy of oxygen supplied to the brain, helping in the assessment of cerebral perfusion and oxygenation. This monitoring technique is especially used in critical care settings, which includes operating rooms, intensive care units, and emergency departments. The system entails the use of specialized sensors placed on the patient's brow or scalp, which emit and detect near-infrared light. The light is absorbed through hemoglobin molecules in the blood, permitting the measurement of oxygen saturation levels. The data got from the sensors is then processed to provide continuous monitoring of cerebral oxygenation levels.

Global Cerebral Oximetry Monitoring Market Analysis

The global cerebral oximetry monitoring market size was $205.68975 million in 2022 and is predicted to grow with a CAGR of 6.8%, by generating a revenue of $389.44 million by 2032.

COVID-19 Impact on Global Cerebral Oximetry Monitoring Market

The global cerebral oximetry monitoring market, like many other healthcare sectors, has been greatly impacted due to the COVID-19 pandemic. The outbreak of the virus has strained healthcare structures worldwide, with a focus on managing and treating COVID-19 patients. As a result, non-essential medical procedures and optionally available surgeries where cerebral oximetry monitoring is commonly used were postponed or cancelled, resulting in a decrease in demand for these devices. Furthermore, the pandemic has disrupted the supply chain, hindering the manufacturing and distribution of cerebral oximetry monitoring devices. International trade restrictions, shutdown of production facilities, and the limited availability of raw materials have all contributed to market delays and shortages.

Furthermore, healthcare budgets have been allocated towards pandemic response activities, affecting the financial resources available for purchasing of cerebral oximetry monitoring devices. The financial limits faced by healthcare organizations have also hindered industry growth.

 Increasing Prevalence of Cerebral Diseases to Drive the Market Growth

The growing incidence of cerebral ailments is expected to drive the growth of cerebral oximetry monitoring market. Stroke, acute brain injury, and cardiac arrest are major causes of morbidity and mortality globally. These conditions often result in decreased cerebral oxygenation, which can have major consequences on brain features and the treatment of patients. Cerebral oximetry monitoring plays an essential role in the management of these conditions because it provides continuous and real-time information on cerebral oxygenation levels. It enables healthcare professionals to track the efficacy of treatments and interventions aimed at improving brain perfusion and oxygen delivery. 

 High Cost of Cerebral Oximetry Devices to Restrain Market Growth

The high cost of cerebral oximetry devices may limit the market growth of cerebral oximetry monitoring. These advanced and technologically advanced systems include complex sensors and algorithms to accurately detect and evaluate brain oxygenation levels. As a result, they have a higher price point when compared to standard monitoring devices. The high cost of cerebral oximetry devices is a significant impediment to their implementation, particularly in healthcare facilities with low financial resources or budget constraints. The initial capital investment required to purchase these devices, as well as continuing protection and sensor replacement costs, might be a hurdle for healthcare providers.

Advancements in Technology to Drive Excellent Opportunities

Technological advancements present excellent opportunities for the growth of the cerebral oximetry monitoring market. Continuous research and development efforts have resulted in massive technological breakthroughs in the field of cerebral oximetry monitoring, improving the accuracy, reliability, and usability of these devices. One such innovation is the miniaturization and portability of cerebral oximetry devices. These small devices enable patient monitoring in a variety of healthcare settings, including ambulatory care, home care, and emergency clinical services. The mobility of these devices allows for real-time monitoring of cerebral oxygenation levels, even during patient transportation or in remote sites. 

Global Cerebral Oximetry Monitoring Market Share, by Application, 2022

The cardiac surgery sub-segment dominated the market and accounted for the greatest market share in 2022. The cerebral oximeter is necessary in monitoring cognitive oxygen levels at some point of cardiac surgery. For example, according to the National Heart, Lung, and Blood Institute, more than two million open heart surgery procedures are performed worldwide each year to treat various coronary heart problems. Thus, extra heart-related surgical procedures are expected to drive demand for cerebral oximetry devices in the forecast period.

Global Cerebral Oximetry Monitoring Market Share, by Age Group, 2022

The adult sub-segment dominated the market and accounted for the largest income share in 2022.  The increasing acceptance and clearance of new units for measuring cerebral oxygen levels in adults is a crucial factor driving device demand. In August 2020, for example, Masimo received FDA approval to expand their "O3 Regional Oximetry" research to detect somatic tissue oxygenation saturation and comparing differences in oxyhaemoglobin, haemoglobin, and deoxyhaemoglobin in adult brains. O3's clearance skill is now CE-marked in numerous countries and can be used for cerebral and somatic applications in US patient groups. The increased application of O3 technology will improve patient care by allowing doctors to screen oxygenation levels more accurately.

Global Cerebral Oximetry Monitoring Market Share, by End-use, 2022

The hospitals & clinics sub-segment dominated the market and accounted for the greatest share in 2022. Most people go to hospitals and clinics because they get access to medical professionals and equipment to perform heart-related surgeries. According to an AJMC article published in February 2021, roughly 8, 273, 270 hospitalisations for coronary heart failure were reported between the study period of 2014 and 2017. Cerebral oximeters are commonly used in hospital operating rooms and intensive care units to detect cerebral desaturation in patients. As a result, rising health centre and clinic visits are likely to drive market expansion.

Global Cerebral Oximetry Monitoring Market Share, by Region, 2022

The North America region dominated the cerebral oximetry monitoring market and accounted for the biggest market share in 2022. This can be attributed to the presence and services of key players. in the region. Medtronic, Edwards Lifesciences Corporation, Nonin, and Masimo are fundamental suppliers of oximeter devices such as INVOS System, ForeSight System, EQUANOX, and Root with O3 in the U.S., to monitor cerebral desaturation in cardiac surgery.  These multi-monitoring devices can be used in intensive care units (ICUs), operating rooms (ORs), and extracorporeal membrane oxygenation (ECMO). Thus, expanding research activities for developing novel cerebral oximeter units are expected to drive market expansion.

Competitive Scenario in the Global Cerebral Oximetry Monitoring Market

The global cerebral oximetry monitoring market is characterized by fierce competition among key market players. Several established and developing players are actively involved in the development, production, and distribution of cerebral oximetry monitoring devices. These companies compete on characteristics such as product features, technological improvements, pricing, manufacturer reputation, and customer service. Some of the prominent players in the market consist of Medtronic plc, Masimo Corporation, Nonin Medical Inc., Hamamatsu Photonics K.K., and CAS Medical Systems, Inc.  To gain a competitive advantage, these companies focus on continuous innovation and product development. They engage extensively in research and development activities in order to incorporate improved features and improvements into their cerebral oximetry monitoring devices. Partnerships, partnerships, and strategic alliances are also widespread in the industry, allowing businesses to capitalize on complementary technology while expanding their market reach.