According to Coherent Market Insights, the global cerebral somatic oximeters market is estimated to be valued at US$ 150.1 Mn in 2019, and is expected to exhibit a CAGR of 7.9% during the forecast period (2019-2027).
Key Trends and Analysis of the Global Cerebral Somatic Oximeters Market:
An increasing number of product approvals along with rising adoption of inorganic growth strategies such as distribution agreements, collaborations, and acquisitions by players operating in North America are factors that are expected to boost the cerebral somatic oximeters market growth in the region. For instance, in April 2019, Edwards Lifesciences Corporation acquired CAS Medical Systems, Inc. (CASMED), a medical technology company dedicated to noninvasive brain and tissue oxygenation monitoring. As part of the acquisition, Edwards acquired CASMED’s FORE-SIGHT non-invasive cerebral oxygenation technology. This aided Edwards’ in expanding its critical care portfolio and further strengthened the company’s leadership in smart monitoring technologies.
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Increasing prevalence of cardiovascular diseases, brain trauma, and neurological diseases in emerging economies is expected to provide a lucrative market opportunity for players operating in the cerebral somatic oximeters market during the forecast period For instance, in 2019, according to the Indian Stroke Association, there was an increase of around 17.5% stroke cases in India in the last 15 years.
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Furthermore, the market growth is expected to be drive by the growing healthcare expenditure for clinical services and a rising number of injuries. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2017, around US$ 694.3 million was spent on physician visits and clinical services in the U.S. According to the CDC’s 2016 study, around 72.6 million people in the U.S. visited clinics and physicians’ offices due to injuries.
Among regions, Asia Pacific is expected to witness significant growth in the cerebral somatic oximeters market over the forecast period, owing to increasing incidence of stroke in developing economies such as India is expected to propel the growth of the cerebral somatic oximeters market in the region during the forecast period. For instance, in 2019, according to the Indian Stroke Association, in India there was an increase of around 17.5% in stroke cases in the last 15 years.
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Key Market Takeaways:
- The global cerebral somatic oximeters market is expected to exhibit a CAGR of 7.9% over the forecast period (2019-2027) owing to increasing product approvals and launches. For instance, in May 2018, CAS Medical Systems, Inc. (CASMED) received the US Food and Drug Administration (FDA) approval for its new FORE-SIGHT Tissue Oximetry OEM (Original Equipment Manufacturer) Module.
- Among product type, single emitter and dual detector segment is expected to witness robust growth in global cerebral somatic oximeters market owing to new product launches. For instance, in May 2018, CAS Medical Systems, Inc. (CASMED) company received the U.S. Food and Drug Administration (FDA) approval for its new FORE-SIGHT Tissue Oximetry, a single emitter dual detector system.
Major players operating in the global cerebral somatic oximeters market include Medtronic plc., Nonin, Edwards Lifesciences Corporation, ISS, Inc., Masimo Corporation, Hamamatsu Photonics K.K., and Mespere LifeSciences.
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Detailed Segmentation:
- Global Cerebral Somatic Oximeters Market, By Product Type:
- Dual Emitter and Dual Detector
- Single Emitter and Dual Detector
- Others
- Global Cerebral Somatic Oximeters Market, By Patient Type:
- Pediatrics
- Adults
- Others
- Global Cerebral Somatic Oximeters Market, By Application:
- Cardiac Surgery
- Vascular Surgery
- Others
- Global Cerebral Somatic Oximeters Market, By End User:
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Others
- Global Cerebral Somatic Oximeters Market, By Region:
- North America
- By Product Type:
- Dual Emitter and Dual Detector
- Single Emitter and Dual Detector
- Others
- By Patient Type
- Pediatrics
- Adults
- Others
- By Application:
- Cardiac Surgery
- Vascular Surgery
- Others
- By End User
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Others
- By Country:
- U.S.
- Canada
- By Product Type:
- Europe
- By Product Type:
- Dual Emitter and Dual Detector
- Single Emitter and Dual Detector
- Others
- By Patient Type
- Pediatrics
- Adults
- Others
- By Application:
- Cardiac Surgery
- Vascular Surgery
- Others
- By End User
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Others
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Product Type:
- Asia Pacific
- By Product Type:
- Dual Emitter and Dual Detector
- Single Emitter and Dual Detector
- Others
- By Patient Type
- Pediatrics
- Adults
- Others
- By Application:
- Cardiac Surgery
- Vascular Surgery
- Others
- By End User
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Others
- By Country:
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Product Type:
- Latin America
- By Product Type:
- Dual Emitter and Dual Detector
- Single Emitter and Dual Detector
- Others
- By Patient Type
- Pediatrics
- Adults
- Others
- By Application:
- Cardiac Surgery
- Vascular Surgery
- Others
- By End User
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Others
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Product Type:
- Middle East
- By Product Type:
- Dual Emitter and Dual Detector
- Single Emitter and Dual Detector
- Others
- By Patient Type
- Pediatrics
- Adults
- Others
- By Application:
- Cardiac Surgery
- Vascular Surgery
- Others
- By End User
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Others
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Product Type:
- Africa
- By Product Type:
- Dual Emitter and Dual Detector
- Single Emitter and Dual Detector
- Others
- By Patient Type
- Pediatrics
- Adults
- Others
- By Application:
- Cardiac Surgery
- Vascular Surgery
- Others
- By End User
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Others
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Product Type:
- North America
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