Cerebral Somatic Oximeters Market To Surpass US$ 333.5 Mn By 2030
Global Cerebral Somatic Oximeters Market, by Product Type (Dual Emitter and Dual Detector, Single Emitter and Dual Detector, and Others), by Patient Type (Pediatrics, Adults, and Others) By Application (Cardiac Surgery, Vascular Surgery, and Others), by End User (Hospitals and Clinics, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ US$ 195.2 Mn in 2023 and is expected to exhibit a CAGR of 7.9% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The key market players in the market are focusing on research and development activities, which is expected to drive market growth over the forecast period. For instance, in October 2022, a report published by National Center for Biotechnology Information (NCBI), stated new research suggesting the combination of cerebral and somatic near-infrared spectroscopy oximetry monitoring during liver surgery.
Global Cerebral Somatic Oximeters Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a negative impact on the global cerebral somatic oximeters market as the supply and demand were hampered due to COVID-19. For instance, on January 8, 2023, EY, a global leader in assurance, consulting, strategy, transactions, and tax services, in an article stated that the COVID-19 pandemic was a global disruption across trade, finance, health, and education systems, businesses. The companies who responded to the survey stated that they were fully prepared for the pandemic. Serious disruptions affected 57% of companies, with 72% reporting a negative effect.
Global Cerebral Somatic Oximeters Market: Key Developments
Increasing launch of research and development studies is expected to aid in the growth of the global cerebral somatic oximeters market. For instance, in December 2022, a report published in Springer Nature, a scientific journal, stated that Masimo, a global medical technology company, stated the use of O3 Regional Oximetry to assess the use of somatic and renal near-infrared spectroscopy with reference blood samples.
Browse 48 Market Data Tables and 38 Figures spread through 165 Pages and in-depth TOC on “Global Cerebral Somatic Oximeters Market”- Forecast to 2030, Global Cerebral Somatic Oximeters Market, by Product Type (Dual Emitter and Dual Detector, Single Emitter and Dual Detector, and Others), by Patient Type (Pediatrics, Adults, and Others) By Application (Cardiac Surgery, Vascular Surgery, and Others), by End User (Hospitals and Clinics, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/cerebral-somatic-oximeters-market-2659
Key Takeaways of the Global Cerebral Somatic Oximeters Market:
- The global cerebral somatic oximeters market is expected to exhibit a CAGR of 7.9% during the forecast period due to the increasing approvals by regulatory authorities. For instance, in August 2020, Masimo, a global medical technology company, announced that it had received U.S. FDA clearance for expanded use in monitoring somatic tissue oxygenation saturation in all patient populations and monitoring relative changes in hemoglobin, oxyhemoglobin, and deoxyhemoglobin in adult brains.
- Among application, Cardiac Surgery segment is estimated to hold a dominant position in the global cerebral somatic oximeters market over the forecast period. For instance, in January 2022, the Korean Society of Anesthesiologists, a medical information provider, stated that cerebral oximetry using near-infrared spectroscopy (NIRS) is used for monitoring cerebral oxygen saturation during cardiac surgery.
- Among region, North America is expected to be the dominant region in the global cerebral somatic oximeters market, owing to increasing cardiac surgeries in North America, which is expected to drive the segment growth over the forecast period. For instance, in September 2021, data published by National Center for Biotechnology Information (NCBI), stated that 60,452 cardiac surgical operations are performed per year in the U.S.
- Major players operating in the global cerebral somatic oximeters market include Medtronic, Nonin, Edwards Lifesciences Corporation, ISS, Inc., Masimo, Hamamatsu Photonics K.K., Mespere LifeSciences, CLINOCARE, HyperMed Imaging, Inc., Terumo Corporation, Quantek Instruments
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