New York, United States, March 20, 2024 (GLOBE NEWSWIRE) -- The Global Cerebral Oximetry Monitoring Market Size is to Grow from USD 216.87 Million in 2023 to USD 425.87 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 6.98% during the projected period.
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Blood oxygen saturation levels are determined using cerebral oximetry monitoring and non-invasive techniques. An oximeter probe is attached to a monitor cable, which is then connected to a cerebral oximeter. Cerebral oximetry is a widely used method for measuring tissue oxygen saturation, which reflects hemoglobin levels in arterial, venous, and capillary blood. One of the primary drivers of market growth is the increasing global prevalence of neurological disorders such as stroke, traumatic brain injury, and dementia. Furthermore, the introduction of advanced cerebral oximetry monitoring devices that are more accurate, effective, and reliable, as well as alert clinicians to changes in their patients' conditions, is boosting the global cerebral oximetry monitoring market. Key players are focusing on developing advanced solutions that provide clinicians with dependable, timely, and actionable monitoring to help prevent adverse events and improve patient care and outcomes, resulting in a promising global cerebral oximetry monitoring market outlook. However, variable clinical utility is recognized as an obstacle to the global cerebral oximetry monitoring market. Cost and reimbursement challenges have had an impact on the global cerebral oximetry monitoring market.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Cerebral Oximetry Monitoring Market Size, Share, and COVID-19 Impact Analysis, By Age Group (Adult, Pediatric), By Application (Cardiac Surgery, Vascular Surgery, Others), By End-user (Hospitals & Clinics, Ambulatory Surgical Centers, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The adult segment is expected to grow at the largest pace in the global cerebral oximetry monitoring market during the forecast period.
Based on the age group, the cerebral oximetry monitoring market has been segmented into adult and pediatric. Among these, the adult segment is expected to grow at the largest pace in the global cerebral oximetry monitoring market during the forecast period. The growing approval and clearance of new devices for monitoring cerebral oxygen levels in adults is a major driver of device demand.
The cardiac surgery segment is expected to grow at the highest pace in the global cerebral oximetry monitoring market during the anticipated period.
Based on the application, the global cerebral oximetry monitoring market is divided into cardiac surgery, vascular surgery, and others. Among these, the cardiac surgery segment is expected to grow at the highest pace in the global cerebral oximetry monitoring market during the forecast period. According to the National Heart, Lung, and Blood Institute, over 2 million open heart surgeries are performed worldwide each year to treat a wide range of cardiac conditions. As a consequence, more procedures involving the heart are expected to drive demand for cerebral oximetry devices over the forecast period.
The hospitals & clinics segment is expected to grow at the largest pace in the global cerebral oximetry monitoring market during the anticipated period.
Based on the end user, the global cerebral oximetry monitoring market is divided into hospitals & clinics, ambulatory surgical centers, and others. Among these, the hospitals & clinics segment is expected to grow at the largest pace in the global cerebral oximetry monitoring market during the forecast period. Hospitals and clinics frequently have access to advanced medical infrastructure, such as operating rooms equipped with cutting-edge technology.
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North America dominates the market with the largest market share over the forecast period.
North America is projected to hold the largest share of the global cerebral oximetry monitoring market over the forecast period. North America, particularly the United States and Canada, has a highly developed healthcare infrastructure, which includes well-equipped hospitals, research institutions, and medical facilities.
Asia-Pacific is expected to grow the fastest in the global cerebral oximetry monitoring market during the anticipated forecast period. Since there are strict federal regulations requiring citizens to have at least one cerebral oximetry monitoring policy. The region's key market drivers include an aging population, rising disease prevalence, and rising per capita disposable income.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global cerebral oximetry monitoring market are Boston Scientific, Natus Medical, Mindray Medical, Edwards Lifesciences, GE Healthcare Masimo, Philips Healthcare, Medtronic, Hamamatsu Photonics K.K., Mespere LifeSciences, Nonin Medical Inc., Omron Healthcare, Welch Allyn, Honeywell Life Sciences, and Others.
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Market Segment
This study forecasts revenue at the global cerebral oximetry monitoring, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global cerebral oximetry monitoring market based on the below-mentioned segments:
Global Cerebral Oximetry Monitoring Market, Age Group Analysis
- Adult
- Pediatric
Global Cerebral Oximetry Monitoring Market, Application Analysis
- Cardiac Surgery
- Vascular Surgery
- Others
Global Cerebral Oximetry Monitoring Market, End-User Analysis
- Hospitals & Clinics
- Ambulatory Surgical centers
- Others
Global Cerebral Oximetry Monitoring Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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