Cerebral Oximetry Monitoring Market Size Worth $354.68 Million By 2030

March 2023 | Report Format: Electronic (PDF)

Cerebral Oximetry Monitoring Market Growth & Trends

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, according to a new report by Grand View Research, Inc. 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.

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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

Cerebral Oximetry Monitoring Market Segmentation

Grand View Research has segmented the global cerebral oximetry monitoring market based on age group, application, end-use, and region:

Cerebral Oximetry Monitoring Age Group Outlook (Revenue, USD Million, 2018-2030)

  • Adult

  • Pediatric

Cerebral Oximetry Monitoring Application Outlook (Revenue, USD Million, 2018-2030)

  • Cardiac Surgery

  • Vascular Surgery

  • Others

Cerebral Oximetry Monitoring End-use Outlook (Revenue, USD Million, 2018-2030)

  • Hospitals & Clinics

  • Ambulatory Surgical centers

  • Others

Cerebral Oximetry Monitoring Regional Outlook (Revenue, USD Million, 2018-2030)

  • North America

    • U.S.                

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait

List of Key Players in the Cerebral Oximetry Monitoring Market

  • Masimo

  • Medtronic

  • Edwards Lifesciences Corporation

  • Nonin

  • ISS, Inc.

  • Hamamatsu Photonics K.K.

  • Mespere LifeSciences

  • GE Healthcare

  • Terumo Cardiovascular Systems Corporation

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