The global cerebral oximetry market size was estimated to be USD 217.05 million in 2023 and is expected to reach at USD 468.27 million by 2033 with a CAGR of 7.24% during the forecast period 2024-2034. Growing geriatric population, surge in number of neurological disorders, increasing technological advancements, rising research & development activities, growing focus on development of new product portfolio, surge in mergers & acquisitions within market players, increasing new product launches, and rising approvals of cerebral oximeter devices are some of the key factors boosting the market growth.
Rising approvals of cerebral oximeter devices is predicted to boost the market growth during the forecast period. New cerebral oximeter devices are approved by regulatory bodies such as U.S. FDA, providing market participants with an opportunity. For instance, in June 2023, Royal Philips, a prominent player in the field of health technology, and Masimo, a renowned global medical technology firm, have received FDA clearance to enable the utilization of SedLine® Brain Function Monitoring, Regional Oximetry (O3®), and CO2 measurements on Philips Patient Monitors, specifically the IntelliVue MX750 and MX850 models.
By age group, adult was the highest revenue-grossing segment in the global cerebral oximetry market in 2023 owing to the growing approval of new devices to monitor cerebral oxygen level in adults and surge in technological advancements. Additionally, Pediatric is predicted to grow at fastest CAGR during the forecast period owing to the rising launch of advanced products and increasing approval of devices for pediatric use. For instance, in February 2022, Masimo has revealed that the FDA has granted clearance for the use of SedLine® brain function monitoring in pediatric patients aged 1 to 17 years, along with the approval of the SedLine Pediatric EEG Sensor.
By application, cardiac surgery was the highest revenue-grossing segment in the global cerebral oximetry market in 2023 owing to the rising demand for monitoring brain oxygen levels during cardiac surgery and increasing launch of advanced products. For instance, in January 2023, Masimo has introduced the Root®6700 Cerebral Oximeter, a portable device designed for ongoing monitoring of cerebral oxygen saturation (SpO2) and regional cerebral oxygen saturation (rSO2). Additionally, Neurological surgery is predicted to grow at fastest CAGR during the forecast period owing to the growing number of neurological surgeries and growing approvals by regulatory bodies.
By end-user, hospitals & clinics was the highest revenue-grossing segment in the global cerebral oximetry market in 2023 owing to the increasing demand for cerebral oximeters in OR & ICU departments of the hospital to monitor cerebral desaturation in patients, surge in hospital & clinic visits, and rising approvals by regulatory bodies. For instance, in January 2023, The State Health Commissioner has granted approval for the Certificate of Public Need (COPN) submitted by Chesapeake Regional Medical Center. This approval allows the hospital to implement open-heart surgery procedures, thereby addressing the community's healthcare requirements. Additionally, Ambulatory surgical centers is predicted to grow at fastest CAGR during the forecast period owing to its facilities throughout the world perform a variety of operations linked to various diseases and the widespread availability of ambulatory facilities provides people convenient access to therapy & boosts devices usage.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing prevalence of neurological disorders, growing research activities for developing novel cerebral oximeter devices, and rising approvals by regulatory bodies. For instance, in June 2022, Medtronic has successfully incorporated two continuous monitoring solutions into G.E. Healthcare's CARESCAPE platform, offering clinicians the ability to tailor patient care. These solutions, Microstream capnography and INVOS regional oximetry technologies, are intended for use in ICU and perioperative care. The FDA and CE Mark have both granted clearance for this integration, marking the completion of Medtronic's comprehensive patient monitoring technologies on the CARESCAPE platform. Additionally, Europe region is predicted to grow at fastest CAGR during the forecast period owing to the increasing aging population, rising prevalence of diseases, surge in research & development activities, and growing partnership & collaborations within market players. For instance, in August 2022, Medtronic plc has revealed a strategic collaboration with BioIntelliSense, a company specializing in continuous health monitoring and clinical intelligence. This partnership grants Medtronic exclusive distribution rights within the United States for the BioButton multi-parameter wearable, which is designed for continuous, connected monitoring in U.S. hospitals and for 30 days post-acute care at home.
Rising approvals of cerebral oximeter devices is predicted to boost the market growth during the forecast period. New cerebral oximeter devices are approved by regulatory bodies such as U.S. FDA, providing market participants with an opportunity. For instance, in June 2023, Royal Philips, a prominent player in the field of health technology, and Masimo, a renowned global medical technology firm, have received FDA clearance to enable the utilization of SedLine® Brain Function Monitoring, Regional Oximetry (O3®), and CO2 measurements on Philips Patient Monitors, specifically the IntelliVue MX750 and MX850 models.
By age group, adult was the highest revenue-grossing segment in the global cerebral oximetry market in 2023 owing to the growing approval of new devices to monitor cerebral oxygen level in adults and surge in technological advancements. Additionally, Pediatric is predicted to grow at fastest CAGR during the forecast period owing to the rising launch of advanced products and increasing approval of devices for pediatric use. For instance, in February 2022, Masimo has revealed that the FDA has granted clearance for the use of SedLine® brain function monitoring in pediatric patients aged 1 to 17 years, along with the approval of the SedLine Pediatric EEG Sensor.
By application, cardiac surgery was the highest revenue-grossing segment in the global cerebral oximetry market in 2023 owing to the rising demand for monitoring brain oxygen levels during cardiac surgery and increasing launch of advanced products. For instance, in January 2023, Masimo has introduced the Root®6700 Cerebral Oximeter, a portable device designed for ongoing monitoring of cerebral oxygen saturation (SpO2) and regional cerebral oxygen saturation (rSO2). Additionally, Neurological surgery is predicted to grow at fastest CAGR during the forecast period owing to the growing number of neurological surgeries and growing approvals by regulatory bodies.
By end-user, hospitals & clinics was the highest revenue-grossing segment in the global cerebral oximetry market in 2023 owing to the increasing demand for cerebral oximeters in OR & ICU departments of the hospital to monitor cerebral desaturation in patients, surge in hospital & clinic visits, and rising approvals by regulatory bodies. For instance, in January 2023, The State Health Commissioner has granted approval for the Certificate of Public Need (COPN) submitted by Chesapeake Regional Medical Center. This approval allows the hospital to implement open-heart surgery procedures, thereby addressing the community's healthcare requirements. Additionally, Ambulatory surgical centers is predicted to grow at fastest CAGR during the forecast period owing to its facilities throughout the world perform a variety of operations linked to various diseases and the widespread availability of ambulatory facilities provides people convenient access to therapy & boosts devices usage.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing prevalence of neurological disorders, growing research activities for developing novel cerebral oximeter devices, and rising approvals by regulatory bodies. For instance, in June 2022, Medtronic has successfully incorporated two continuous monitoring solutions into G.E. Healthcare's CARESCAPE platform, offering clinicians the ability to tailor patient care. These solutions, Microstream capnography and INVOS regional oximetry technologies, are intended for use in ICU and perioperative care. The FDA and CE Mark have both granted clearance for this integration, marking the completion of Medtronic's comprehensive patient monitoring technologies on the CARESCAPE platform. Additionally, Europe region is predicted to grow at fastest CAGR during the forecast period owing to the increasing aging population, rising prevalence of diseases, surge in research & development activities, and growing partnership & collaborations within market players. For instance, in August 2022, Medtronic plc has revealed a strategic collaboration with BioIntelliSense, a company specializing in continuous health monitoring and clinical intelligence. This partnership grants Medtronic exclusive distribution rights within the United States for the BioButton multi-parameter wearable, which is designed for continuous, connected monitoring in U.S. hospitals and for 30 days post-acute care at home.
Segmentation: Cerebral Oximetry Market Report 2022 - 2033
Cerebral Oximetry Market Analysis & Forecast by Age Group 2023 - 2034 (Revenue USD Mn)
- Adult
- Pediatric
Cerebral Oximetry Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Mn)
- Vascular Surgery
- Neurological Surgery
- Cardiac Surgery
- Others
Cerebral Oximetry Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Mn)
- Ambulatory Surgical Centers
- Hospitals & Clinics
- Others
Cerebral Oximetry Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Mn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Cerebral Oximetry Market: Age Group Estimates & Trend Analysis
8. Cerebral Oximetry Market: Application Estimates & Trend Analysis
9. Cerebral Oximetry Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Cerebral Oximetry Market
12. Europe Global Cerebral Oximetry Market
13. Asia Pacific Global Cerebral Oximetry Market
14. Latin America Global Cerebral Oximetry Market
15. MEA Global Cerebral Oximetry Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Nonin Medical Inc.
- Medtronic
- Edwards Lifesciences Corporation
- Ornim Medical
- Masimo
- Hamamatsu Photonics K.K.
- GE Healthcare
- ISS Inc.
- Mespere LifeSciences
- Terumo Cardiovascular Systems Corporation
- CAS Medical Systems Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | October 2023 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 217.05 Million |
| Forecasted Market Value ( USD | $ 468.27 Million |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
