Dublin, May 31, 2023 (GLOBE NEWSWIRE) -- The "Cerebral Oximetry Monitoring Market Size, Share & Trends Analysis Report By Age Group (Adult, Pediatric), By Application (Cardiac Surgery, Vascular Surgery, Others) By End-use (Hospitals & Clinics), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global cerebral oximetry monitoring market size is expected to reach USD 354.68 billion by 2030, registering a compound annual growth rate (CAGR) of 7.2% during the forecast period.
Companies Mentioned
- Masimo
- Medtronic
- Edwards Lifesciences Corporation
- Nonin
- ISS Inc.
- Hamamatsu Photonics K.K.
- Mespere LifeSciences
- G.E. Healthcare
- Terumo Cardiovascular Systems Corporation
The key factors driving the growth of the market are the increasing incidence of critical heart illness. According to the Centers for Disease Control and Prevention (CDC), about 1 in 110 births in the U.S. have congenital heart disease (CHD), and 25% of this total CHD births are considered critical CHD. This CCHD patient requires intervention soon after birth to prevent significant mortality; later infant detection increases the risk of brain damage.
Traditionally, the diagnosis of CCHD in infants was made with the observation of evidence of CCHD physical assessment and monitoring for common symptoms. Still, several research studies showed that this traditional method could be unreliable and fail to detect new infants with CCHD.
Adding cerebral oximetry screening can help physicians identify CCHD patients before an infant becomes symptomatic. For instance, in November 2021, Masimo launched "Dual SET Oximetry" to screen infant patients with CCHD. This launch is expected to drive market growth over the forecast period.
Furthermore, several strategic initiatives are undertaken by major players, such as collaboration, partnership, and licensing agreements, to strengthen their product portfolio and expand their business presence. For instance, in May 2020, Koninklijke Philips N.V. and Masimo signed a licensing agreement to reinforce their partnership by additional integration of Masimo measurement technologies into select Intellivue Mx-series multi-parameter monitors. This technology integration helps physicians evaluate the patient's ventilation and cerebral oximetry status.
The COVID-19 pandemic negatively affected the global cerebral oximetry monitoring market due to decreased outpatient visits and a dramatic reduction in essential and non-essential surgeries. For instance, according to a 2021 research study by the Journal of Cardiothoracic Surgery, cardiac surgery decreased by 50 to 70% during the COVID-19 pandemic.
Over 50% reduction was seen in ICU beds and cardiac theatre rooms. However, it is anticipated that post-COVID pandemic hospitals may witness high patient visits after the opening of the economy and the normalization of Covid-19 regulations.
Cerebral Oximetry Monitoring Market Report Highlights
- Adults accounted for the largest share of the 67.34% age group segment in 2022. The dominance can be attributed to the increased number of adult patients with cardiac morbidities
- Based on application, cardiac surgery is anticipated to register the fastest CAGR growth during the forecast period
- The hospitals & clinics segment accounted for the largest share of 52.55% in 2022. The increasing number of inpatients and outpatients visits for various disease consultations and treatment
- North America accounted for the largest share of 37.41% in 2022. The growing prevalence of non-communicable diseases and rising developments in cerebral oximetry devices are the key factors driving market growth in the region
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Cerebral Oximetry Monitoring Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook.
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.2. Market restraint analysis
3.3. Cerebral Oximetry Monitoring: Market Analysis Tools
Chapter 4. Cerebral Oximetry Monitoring Market: Application Estimates & Trend Analysis
4.1. Definitions and Scope
4.1.1. Cardiac Surgery
4.1.2. Vascular Surgery
4.1.3. Others
4.2. Cerebral Oximetry Monitoring Market Share, 2022 & 2030
4.3. Segment Dashboard
4.4. Global Cerebral Oximetry Monitoring Market by Application Outlook
4.5. Market Size & Forecasts and Trend Analysis, 2018 to 2030 for the following
4.5.1. Cardiac Surgery
4.5.1.1. Cardiac Surgery Cerebral Oximetry Monitoring Market 2018 to 2030 (USD Million)
4.5.2. Vascular Surgery
4.5.2.1. Vascular Surgery Cerebral Oximetry Monitoring Market 2018 to 2030 (USD Million)
4.5.3. Others
4.5.3.1. Others Cerebral Oximetry Monitoring Market 2018 to 2030 (USD Million)
Chapter 5. Cerebral Oximetry Monitoring Market: Age Group Estimates & Trend Analysis
5.1. Definitions and Scope
5.1.1. Pediatric
5.1.2. Adult
5.2. Cerebral Oximetry Monitoring Market Share, 2022 & 2030
5.3. Segment Dashboard
5.4. Global Cerebral Oximetry Monitoring Market by Age Outlook
5.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
5.5.1. Pediatric
5.5.1.1. Pediatric Cerebral Oximetry Monitoring Market 2018 to 2030 (USD Million)
5.5.2. Adult
5.5.2.1. Adult Cerebral Oximetry Monitoring Market 2018 to 2030 (USD Million)
Chapter 6. Cerebral Oximetry Monitoring Market: End Use Estimates & Trend Analysis
6.1. Definitions and Scope
6.1.1. Hospitals & Clinics
6.1.2. Ambulatory Surgical centers
6.1.3. Others
6.2. Cerebral Oximetry Monitoring Market Share, 2022 & 2030
6.3. Segment Dashboard
6.4. Global Cerebral Oximetry Monitoring Market by End-Use Outlook
6.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
6.5.1. Hospitals
6.5.1.1. Hospitals & Clinics Cerebral Oximetry Monitoring Market 2018 to 2030 (USD Million)
6.5.2. Ambulatory Surgical centers
6.5.2.1. Ambulatory Surgical centers Cerebral Oximetry Monitoring Market 2018 to 2030 (USD Million)
6.5.3. Others
6.5.3.1. Others Cerebral Oximetry Monitoring Market 2018 to 2030 (USD Million)
Chapter 7. Cerebral Oximetry Monitoring Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/xevepx
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