Cerebral somatic oximeters allow continuous and non-invasive monitoring of cerebral oxygen saturation by surface electrodes. Moreover, in cardiac surgery, cerebral oximetry can significantly reduce incidence of postoperative stoke by optimizing cerebral oxygen supply and demand, and by maintaining baseline regional oxygen saturation values during cardiopulmonary bypass procedures. Cerebral somatic oximetery is based on the principle of NIRS (Near Infrared Spectroscopy) technology and is used for oxygenation monitoring during oxygenation monitoring for various surgeries such as cardiac surgeries, vascular surgeries, and others. A cerebral somatic oximeter is also known as regional oximeter or tissue oximeter.
The global cerebral somatic oximeters market is estimated to be valued at US$ 150.1 million in 2019, and is expected to exhibit a CAGR of 7.9% during the forecast period (2019-2027).
Figure 1. Global Cerebral Somatic Oximeters Market Share (%), By Product Type
Source: Coherent Market Insights Analysis (2020)
An increasing number of product approvals for cardiac applications is expected to propel the segment growth over the forecast period. For instance, in May 2018, CAS Medical Systems, Inc. (CASMED) received the U.S. Food and Drug Administration (FDA) approval for its new FORE-SIGHT Tissue Oximetry system which is used in cardiac surgery.
Moreover, increasing incidence of stroke is expected to drive the segment growth over the forecast period. For instance, according to the World Health Organization 2016 report, 15 million people across the globe suffer a stroke every year. Vascular surgeries such as Carotid endarterectomy is a surgical procedure performed to reduce the risk of stroke in patients. Moreover, according to the Indian Stroke Association, in 2019, there was an increase of around 17.5% stroke cases in India in the last 15 years.
Increasing adoption of expansion strategies by manufacturers is one of the major factors driving the growth of the cerebral somatic oximeters in Asia Pacific. For instance, in October 2017, Hamamatsu Photonics K.K. opened a new manufacturing facility for compound semiconductor devices at Miyakoda, Japan to cater to increasing demand for detectors and emitters in various applications that utilize infrared light.
High cost of equipment is expected to hamper the global cerebral somatic oximeters market growth
High cost of cerebral somatic oximeter equipment constituting of sensors and probes imposes a high financial burden on individuals and healthcare systems in emerging countries. For instance, the average price of a monitor is between US$ 5,000 to US$ 6,000, whereas cost of sensors is nearly US$ 200 per patient. Thus, high cost of the equipment and limitation of cerebral somatic oximeters are factors that are expected to hinder growth of the marker during the forecast period
Global Cerebral Somatic Oximeters Market- Regional Analysis
On the basis of region, the global cerebral somatic oximeters market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
Among regions, North America is expected to exhibit significant growth in the cerebral somatic oximeters market due to increasing product approvals and development of technologically advanced products in the region. For instance, in December 2018, Mespere Lifesciences received U.S. Food and Drug Administration approval for its NeurOs - Cerebral Oximetry system for use as an adjunct monitor of regional hemoglobin oxygen saturation of blood in the brain tissue beneath the sensor in adult patients.
Moreover, increasing product launches and strategic partnerships between manufacturers in the region are expected to facilitate growth of the market in Europe during the forecast period. For instance, in December 2019, Masimo Corporation and Dräger, a Germany-based breathing and protection equipment manufacturing company, expanded its portfolio for brain monitoring and capnography technologies. Furthermore, the increasing number of product approvals is also expected to drive the growth of the market over the forecast period. For instance, in July 2018, Mespere Lifesciences received CE market approval for NeurOs - Cerebral Oximetry system in Europe.
Figure 2: Global Cerebral Somatic Oximeters Market Share (%), By Region
Source: Coherent Market Insights Analysis (2020)
Global Cerebral Somatic Oximeters Market - Competitive Landscape
Key players operating in the global cerebral somatic oximeters market include Medtronic plc., Nonin, Edwards Lifesciences Corporation, ISS, Inc., Masimo Corporation, Hamamatsu Photonics K.K., and Mespere LifeSciences.
Cerebral somatic oximetery is based on the principle of NIRS (Near Infrared Spectroscopy) technology and is used for oxygenation monitoring during various surgeries such as cardiac surgeries, vascular surgeries, and others. Cerebral somatic oximeter is also known regional oximeter or tissue oximeter. Two types of cerebral somatic oximeters such as dual emitter and dual detector, and single emitter and dual detector are currently available in the market. Dual emitter and dual detector cerebral somatic oximeters consist of two emitters and two detectors used in near-infrared spectroscopy (NIRS) for pulse and regional oximetry measurement. While single emitter and dual detector cerebral somatic oximeters consist of one emitter and two detectors which are mostly used in in-vivo optical spectroscopy oximeters to non-invasively monitor site-specific perfusion of the tissue in brain.
Increasing product approvals and product launches are expected to drive the growth of the cerebral somatic oximeters market. For instance, in May 2018, the CAS Medical Systems, Inc. (CASMED) company received the U.S. Food and Drug Administration (FDA) approval for its new FORE-SIGHT Tissue Oximetry, a single emitter dual detector system.
Moreover, increasing prevalence of neurological diseases and traumatic brain injury such as Hypoxic Ischemic Encephalopathy (HIE) is expected to drive growth of the cerebral somatic oximeter market during the forecast period. For instance, in 2017, according to reports published by the World Health Organization, Hypoxic Ischemic Encephalopathy (HIE) is the fifth leading cause of deaths worldwide in children below the age of 5 years with a global incidence rate of 1.5 births per 1,000, which accounts for around 23% deaths.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section
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