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| Global Cerebral Oximeters Market |
The global Cerebral Somatic Oximeters Market is estimated to be valued at US$ 195.2 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market Overview:
Cerebral somatic oximeters are noninvasive medical devices used to continuously
monitor regional oxygen saturation (rSO2) levels in the brain. They help detect
changes in oxygen delivery and consumption, allowing early detection of
cerebral hypoxia or ischemia. Cerebral oximetry provides an early warning of
impaired cerebral oxygen delivery by measuring rSO2 levels through the
forehead. This helps clinicians optimize oxygen delivery and prevent brain
injury. Cerebral oximeters are widely used in cardiac surgery, neurosurgery and
trauma/critical care to reduce complications and improve patient outcomes.
Growing demand for noninvasive monitoring techniques is a major driver for the
cerebral oximeters market.
Market Key Trends:
One of the key trends in the Global
Cerebral Oximeters Market is the rising demand for continuous
monitoring of brain oxygen levels during high-risk surgeries and critically-ill
patients. Cerebral oximetry enables real-time monitoring of brain oxygen
saturation, allowing timely interventions to prevent hypoxic brain injury. This
is boosting uptake across cardiac surgery, neurosurgery and intensive care
units. Also, technological advancements are enabling development of smaller,
wireless oximeters with improved accuracy and reliability. This is making
cerebral oximetry more affordable and accessible. Additionally, growing
incidence of cardiovascular diseases and neurological disorders worldwide is
leading to increasing surgical procedures and patients in ICUs. This wide
patient pool necessitates continuous monitoring of brain oxygen saturation,
fueling adoption of cerebral oximeters. Rising healthcare expenditures and
improving reimbursement scenario in developing countries will further support
market growth over the forecast period.
Porter's Analysis
Threat of new entrants: The cerebral somatic oximeters market requires high
R&D investments and regulatory approvals which makes entry difficult for
new players.
Bargaining power of buyers: The bargaining power of buyers is moderate as the
healthcare industry players can switch between various cerebral oximeter
products based on customizable requirements.
Bargaining power of suppliers: The bargaining power of suppliers is low since
there are numerous players providing raw materials and other components
required to manufacture cerebral oximeters globally.
Threat of new substitutes: There exists a low threat from substitutes since
cerebral somatic oximeters offer non-invasive, continuous, and reliable
measurement of hemoglobin parameters which cannot be replaced easily.
Competitive rivalry: The cerebral somatic oximeters market is moderately
competitive with key players differentiating their products based on advanced
technologies, features, and services.
Key Takeaways
The global cerebral somatic oximeters market is expected to witness high
growth, exhibiting CAGR of 7.9% over
the forecast period, due to increasing demand for non-invasive brain monitoring
devices.
Regional analysis: North America is expected to dominate the global cerebral
somatic oximeters market during the forecast period. This is attributed to
factors such as increasing research in neurology, rising healthcare spending,
and growing adoption of advanced medical technologies. Asia Pacific is
anticipated to exhibit the fastest growth rate over 2023-2030 with China and
India emerging as lucrative markets.
Key players: Key players operating in the cerebral somatic oximeters market are
Medtronic, Nonin, Edwards Lifesciences Corporation, ISS, Inc., Masimo,
Hamamatsu Photonics K.K., Mespere LifeSciences, CLINOCARE, HyperMed Imaging,
Inc., Terumo Corporation, Quantek Instruments. These players are focusing on
new product launches, partnerships, and geographical expansions to strengthen
their position in the market.
Read More: https://www.trendingwebwire.com/cerebral-somatic-oximeters-market/