- Advancements in current techniques, demand for products, and increase in usage of cerebral oximeters in hemostasis and non-hemostasis applications are projected to drive the market
- The market is expected to be driven by developments in product demand, existing techniques, and a rise in the use of cerebral oximeters in both hemostasis and non-hemostasis procedures.
ALBANY, N.Y., April 1, 2021 /PRNewswire/ -- The widespread utilization of cerebral somatic oximeters in both non-hemostasis and hemostasis applications is likely to propel the growth of the global cerebral somatic oximeters market in the years to come. In addition to that, the increasing utilisation of cerebral somatic oximeters by various end users such as ambulatory surgical centres, hospitals, and clinics is estimated to bode well for the said market in the years to come. Less oxygen supply to the brain induces neurological disorders and brain damage conditions including hypoxic-ischemic encephalopathy (HIE). As a result, demand for cerebral oximeters is expected to rise as the incidence of cerebral hypoxia increases.
The World Health Organization (WHO) estimates that 15 million people had a stroke per year, with 5 million fatalities every year. As a result, the demand for cerebral somatic oximeters is growing in order to monitor these alarming death rates. In the end, its usage to reduce the death rate is likely to work in favour of the global cerebral somatic oximeters market over the assessment timeframe. Besides, t he danger of HIE amongst children could propel the demand for cerebral somatic oximeters to new heights. As per world health organisation (WHO), HIE is the world's fifth most common cause of infants' death. The need for better HIE management can therefore lead to development of the global cerebral somatic oximeters market.
The global cerebral somatic oximeters market is expected to rise at a rate of 7.2% CAGR from 2018 to 2026 and rise from the market value of around US$ 134.2 Mn in 2018. It is foreseen that a preference for minimally invasive processes, the massive use of cerebral haemotors and an increase in recognition of cerebral haemotors is estimated to drive growth of the global market over forecast timeline, from 2018 and 2026.
Key Findings of Market Report
Rapidly Ageing Global Population to Open Plethora of Opportunities for Market Growth
The population of the world is rapidly ageing. As per the World Health Organisation, almost 2 billion people is estimated to be 60 years or older by 2050, making for 16.7% of the total global population. The population of various developed countries of Europe, the US, and Japan is increasingly ageing. This is due to strengthened health-care facilities and regulations, as well as the introduction of new endoscopic technologies. In addition, in recent years, access to numerous diagnostic and care facilities has increased in these areas. As a result, the average populace's life expectancy has improved. As a result, demand for these oximeters is likely to observe a steady rise, which is likely to bolster growth of the global cerebral somatic oximeters market in the years to come.
Increasing Demand for Non-Invasive Brain Monitoring Procedures to Boost Demand
During neurosurgical operations, cerebral hypoxia comes up as one of the most prevalent triggers for secondary brain injury. The demand for non-invasive brain monitoring procedures is expected to increase in the coming years. The use of near-infrared spectroscopy (NIRS) has reduced complications arising from perioperative neurologic conditions. Minimally invasive procedures have grown in popularity as a result of benefits such as faster recovery time, reduced hospital stay, decreased post-operative pain, and blood loss. Rising demand for non-invasive brain procedures is foreseen to foster expansion of the global cerebral somatic oximeters market in near future.
Near-infrared spectroscopy (NIRS) is used in the concept of cerebral somatic oximeter. These devices are becoming more common before and after vascular, cardiac, and various other surgeries.
Developing markets in the countries of Latin America, the Middle East and Africa, and Asia Pacific, such as Malaysia, Brazil, China, and India are likely to present major growth opportunities in the health-care market. This factor is likely to work in favor of the global cerebral somatic oximeters market in near future.
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