Cerebral and Tissue Oximetry Device Market Share

North American Market Forecasts

The cerebral and tissue oximetry device market in the North America region is set to hold the largest revenue share of 35% by the end of the forecast period. The increased incidence of heart disease, the increasing number of cardiac surgeries and an increase in US Food and Drug Administration approval of accessories enabling tissue oximetry systems to be compatible with each other are major factors driving market growth. The US Food and Drug Administration approved HemoSphere CX, a product of Edwards Lifesciences Corporation, in September 2019. It's a smart cable that allows HemoSphere's advanced monitoring platform and ForeSight's tissue oximetry sensors to be compatible. Moreover, the robust growth of technology and an increasing number of new products are being introduced into the healthcare industry In North America, the increasing number of R&D activities is driving market growth. The expansion of the regional market is also being fueled by the rise in US FDA certifications and approvals for cerebral and tissue oximetry device in the area. The popularity of the devices is also rising in the region due to the existence of several well-known suppliers that offer technologically sophisticated goods, such as Nonin Medical, Edwards Lifesciences, ISS, Masimo, and HyperMed Imaging.

European Market Statistics

The cerebral and tissue oximetry device market in the Europe region is set to grow significantly by the end of projected period. Europe faces a growing burden of chronic diseases such as cardiovascular diseases, chronic obstructive pulmonary disease, and peripheral artery disease. These conditions often require monitoring of oxygen saturation levels in different tissues, which is where cerebral and tissue oximetry device come in. Nearly one third of individuals aged over 15 a long-time report living with two or more chronic non-communicable infections, 37% of Europeans matured 65 and over have different chronic conditions.  Furthermore, the growing focus on minimally invasive procedures in healthcare is creating a demand for smaller and more portable cerebral and tissue oximetry device that can be used during surgery or other procedures.