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The cerebral and tissue oximetry device market will grow to $419.8 million by 2033.

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The cerebral and tissue oximetry devices market is expected to witness significant growth, with the market size expected to increase from USD 223.7 million in 2023 to approximately USD 419.8 million by 2033, reflecting compound annual growth rate (CAGR) of 6.5% over the forecast period of 2024 to 2033. This increase is due to several key factors, including the increasing use of these devices in cardiac surgery, which requires precise monitoring of oxygen levels in the brain and tissues to prevent complications such as cerebral hypoxia. Technological advances such as improved sensors and data analytics are increasing the efficiency and accuracy of these devices, further increasing their use in healthcare settings.

However, the market faces challenges, in particular the high cost of oximetry brain and tissue measurement devices, which may be prohibitive to smaller healthcare facilities and regions with limited reimbursement policies. Additionally, there are concerns about the accuracy of these devices under certain conditions, which may hinder wider adoption.

Recent developments in the market include mergers and acquisitions aimed at integrating advanced technologies into existing product offerings. For example, Edwards Lifesciences’ acquisition of CAS Medical Systems increased its hemodynamic monitoring capabilities, thereby expanding its market presence. Furthermore, there is a growing trend towards the development and use of portable and handheld oximetry devices that provide greater flexibility and convenience for healthcare providers.

Overall, the brain and tissue oximetry device market is poised for significant growth, driven by technological innovations, increasing surgical volumes, and an increasing aging population, despite cost and accuracy challenges.

Key takeaways

  • The cerebral and tissue oximetry device market is expected to plateau $419.8 million by 2033, growing at approx 6.5% CAGR since $223.7 million in 2023
  • In 2023, tabletop appliances dominated the market 56.5% share, thanks to user-friendly design and improved functionalities.
  • Hospitals played a significant role 52.1% market share in 2023, highlighting their key role in the implementation of oximetry devices in patient care.
  • The growing interest in tabletop devices in 2023 was driven by excellent features and easy integration into medical practices.
  • The increased demand for non-invasive monitoring is driving the market growth by offering real-time data without invasive procedures, thereby increasing patient comfort.
  • Continued technological innovations, including improved sensors and wireless connectivity, are driving the development of brain and tissue oximetry devices.
  • The surge in surgical procedures is significantly revitalizing the market, with increasing use of monitoring devices in both operating rooms and outpatient settings.
  • The devices’ high costs, limited reimbursement policies, and accuracy issues hinder their widespread adoption, especially in smaller healthcare facilities and some regions.
  • Promising growth opportunities include expanding applications in neonatal care, implementing home health care, research collaborations, and exploring emerging markets.
  • North America dominated the market in 2023 thanks to: 36.5% share and $76.6 million market value, supported by a strong healthcare infrastructure and favorable reimbursement policy.

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Key segments of the cerebral and tissue pulse oximetry device market

Type

End use

Key Regions

  • North America (USA, Canada, Mexico)
  • Western Europe (Germany, France, UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic countries, rest of Western Europe)
  • Eastern Europe (Russia, Poland, Czech Republic, Greece, rest of Eastern Europe)
  • APAC (China, Japan, South Korea, India, Australia and New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, rest of APAC)
  • Latin America (Brazil, Colombia, Chile, Argentina, Costa Rica, rest of Latin America)
  • Middle East and Africa (Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, rest of MEA)

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Analysis of key players

Artinis Medical Systems is a leading company in near-infrared spectroscopy (NIRS) and functional near-infrared spectroscopy (fNIRS). The company specializes in developing advanced, portable NIRS devices for measuring tissue oxygenation in real time, which are widely used in brain and muscle research. Their product line includes wearable devices such as Brite and PortaLite, which are known for their high resolution and ease of use. Artinis innovations facilitate non-invasive monitoring of oxyhemoglobin and deoxyhemoglobin, making them essential tools for researchers around the world.

Edwards Lifesciences Corp. is a major player in the brain and tissue oximetry device market, known for its advanced monitoring systems. Their notable product, the HemoSphere platform, integrates with ForeSight tissue oximetry sensors to provide accurate brain oxygenation measurements. The company is at the forefront of developing technologies that improve patient outcomes during cardiac surgery by ensuring optimal oxygen levels are maintained. Edwards Lifesciences continues to expand its portfolio through FDA-approved acquisitions and innovations, strengthening its presence in the market.

Hamamatsu Photonics KK is famous for its high-quality photonic devices, including those used in brain and tissue pulse oximetry. The company offers advanced optical sensors and imaging solutions that are integral to accurately measuring tissue oxygenation. The photonic technology used in them is crucial for non-invasive monitoring, providing reliable data for medical and research applications. Hamamatsu’s commitment to innovation and precision makes it a significant player in the oximetry market, supporting a variety of medical fields from neurology to cardiovascular health.

HyperMed Imaging Inc. specializes in advanced imaging technologies, including brain and tissue pulse oximetry studies. The company’s imaging solutions are designed to provide real-time, high-resolution monitoring of tissue oxygen levels, which is critical in a variety of clinical settings. HyperMed’s innovative products support improved diagnostic capabilities and improved patient care by providing accurate and timely tissue oxygenation data. Their commitment to technological advancements continues to drive development and application in medical diagnostics.

ISS Inc. is a key player in the development of optical instrumentation for biomedical research, including brain and tissue oximetry devices. Their products use advanced optical technology to non-invasively measure tissue oxygenation. ISS Inc. Devices are known for their precision and reliability, making them valuable tools in both clinical and research environments. With a focus on continuous innovation and quality, ISS Inc. contributes significantly to understanding and monitoring oxygen dynamics in the brain and tissues.

Key players in the cerebral and tissue oximetry devices market:

  • Artinis medical systems
  • Edwards Lifesciences Corp.
  • Hamamatsu Photonics KK
  • HyperMed Imaging Inc.
  • ISS Inc.
  • Masimo company.
  • Medtronic limited liability company
  • Moor Instruments Ltd.
  • Nonin Medical Inc.
  • Sotera Health Co.
  • Spectros Medical Devices Inc.

Scope of the report on the cerebral and tissue pulse oximetry devices market >> Market value (2023): USD 223.7 million || Projected revenues (2033): USD 419.8 million || CAGR (2024–2033): 6.5% || Estimated base year: 2023 || Historical period: 2019-2022 || Forecast period: 2024-2033.

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