Cerebral Somatic Oximeters Market Analysis| Coherent Market Insights

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2. CEREBRAL SOMATIC OXIMETERS MARKET ANALYSIS Cerebral Somatic OximetersMarket,ByProduct Type (Dual Emitter and Dual Detector, Single Emitter and Dual Detector, and Others), By Patient Type (Pediatrics, Adults, and Others) By Application (Cardiac Surgery, Vascular Surgery, and Others), By End User (Hospitals and Clinics, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. The global cerebral somatic oximeters market is estimated to be valued at US$ 150.1 million in 2019, and is expected to exhibit a CAGR of 7.9% during the forecast period (2019-2027). Drivers • An increasing number of product approvals for cardiac applications is expected to propel the segment growth over the forecast period. For instance, in May 2018, CAS Medical Systems, Inc. (CASMED) received the U.S. Food and Drug Administration (FDA) approval for its new FORE-SIGHT Tissue Oximetry system which is used in cardiac surgery.

4. Moreover, increasing incidence of stroke is expected to drive the segment growth over the forecast period. For instance, according to the World Health Organization 2016 report, 15 million people across the globe suffer a stroke every year. Vascular surgeries such as Carotid endarterectomy is a surgical procedure performed to reduce the risk of stroke in patients. Moreover, according to the Indian Stroke Association, in 2019, there was an increase of around 17.5% stroke cases in India in the last 15 years. • Increasing adoption of expansion strategies by manufacturers is one of the major factors driving the growth of the cerebral somatic oximeters in Asia Pacific. For instance, in October 2017, Hamamatsu Photonics K.K. opened a new manufacturing facility for compound semiconductor devices at Miyakoda, Japan to cater to increasing demand for detectors and emitters in various applications that utilize infrared light.

5. Figure 1.Global Cerebral Somatic Oximeters Market Share (%),By Product Type

6. Market Growth High cost of cerebral somatic oximeter equipment constituting of sensors and probes imposes a high financial burden on individuals and healthcare systems in emerging countries. For instance, the average price of a monitor is between US$ 5,000 to US$ 6,000, whereas cost of sensors is nearly US$ 200 per patient. Thus, high cost of the equipment and limitation of cerebral somatic oximeters are factors that are expected to hinder growth of the marker during the forecast period

7. Regional Analysis • On the basis of region, the global cerebral somatic oximeters market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. • Among regions, North America is expected to exhibit significant growth in the cerebral somatic oximeters market due to increasing product approvals and development of technologically advanced products in the region. For instance, in December 2018, MespereLifesciences received U.S. Food and Drug Administration approval for its NeurOs - Cerebral Oximetry system for use as an adjunct monitor of regional hemoglobin oxygen saturation of blood in the brain tissue beneath the sensor in adult patients.

8. Moreover, increasing product launches and strategic partnerships between manufacturers in the region are expected to facilitate growth of the market in Europe during the forecast period. For instance, in December 2019, Masimo Corporation and Dräger, a Germany-based breathing and protection equipment manufacturing company, expanded its portfolio for brain monitoring and capnography technologies. Furthermore, the increasing number of product approvals is also expected to drive the growth of the market over the forecast period. For instance, in July 2018, MespereLifesciences received CE market approval for NeurOs - Cerebral Oximetry system in Europe.

9. Figure 2:Global Cerebral Somatic Oximeters Market Share (%),By Region

10. Competitive Section Key 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 MespereLifeSciences.

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