Global Cerebral Oximeters Market Set for Rapid Growth And Trend, by 2024
The cerebral oximeter setup includes an oximeter probe which is attached to a cable that is then connected to the cerebral oximeter monitor. Most cerebral oximeters are able to support 2 to 4 oximeter probes with their respective monitor cables. Probes are attached to the scalp of a patient using adhesive pads, where the frontal lobe is the chosen part of the scalp. Probes are composed of fiber optic light source along with light detectors. Light is released by the source in the infrared range either by light-emitting diodes (LED) or through stimulated emission of the radiation.
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The emitted light which is in the infrared range is able to reach the underlying cerebral tissue by easily penetrating through the skull. The light which is emitted is either redirected, absorbed, reflected, or scattered. A change is observed in the light spectrum when infrared light comes in contact with hemoglobin. The change depends upon the hemoglobin molecule’s oxygenation status. The light detectors present in the oximeter probes detect the reflected light once it returns toward the surface.
The growth of the global cerebral oximeters market is due to factors such as growth in the older population, increase in prevalence and incidence of neurological disorders, and gradual rise in the awareness levels about neurodegenerative diseases. In addition, the market growth is driven by increase in prevalence of traumatic brain injuries and sustained efforts by manufacturers to bring in technological advancements in the equipment. The demand for these devices can grow as there is a huge untreated population with neurological conditions as well as rise in demand for minimally invasive and non-invasive devices.
Greater focus of the manufacturers on digitalized devices, their extended therapeutic applications, and increase in use of these devices in clinical trials are some of the opportunities that could drive the growth of the market. However, the market growth could be impeded due to high cost of the equipment. As the devices are complex, the costs associated with them are very high. Furthermore, factors such as shortage of highly trained professionals, concerns about the accuracy of the diagnostic devices, and unfavorable reimbursement policies may hinder the growth of the market during the forecast period.
The global cerebral oximeters market is segmented based on product type, therapeutic application, end-user, and geography. The market in terms of product type is divided into portable oximeters and finger oximeters. Based on therapeutic application, the market is classified into traumatic brain injuries, stroke, and other therapeutic applications. In terms of end-user, the market is divided into hospitals, clinics, diagnostic centers, and others.
Geographically, the global cerebral oximeters market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to have the prime share of the market. Factors such as rise in prevalence of various neurodegenerative disorders, government initiatives and support for technological advancements, well-established sales & distribution network of major neurodiagnostic companies, and ease of reimbursement for brain monitoring techniques. North America is followed by Europe in terms of market size. The market is expected to grow in Asia Pacific due to improvement in health care infrastructure, rise in disposable incomes, and increase in incidence of neurodegenerative disorders as well as health care reforms initiated by governments.
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The prominent players operating in the global cerebral oximeters market are GE Healthcare, Medtronic, Masimo, Natus Medical Incorporated, Omron Healthcare, Nonin Medical, Boston Scientific, Edwards Lifesciences, and Spacelabs Healthcare.
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