The principle of cerebral somatic oximeter is based on near-infrared spectroscopy (NIRS). These devices are increasingly popular during pre and post-operative cardiac, vascular, and other surgeries. It is a non-invasive technology which can monitor regional oxygen saturation and overall hemostasis of the body. Efficient patient monitoring can help prevent adverse events.
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Technological Advancements and High Demand in Emerging Markets
Manufacturers are constantly expanding their product portfolios through increase in investments in R&D for production of technologically advanced and efficient cerebral oximeters. For instance, Nonin Medical’s SenSmart Model X-100 Universal oximetry system is a dual-parameter medical device that analyzes pulse and regional oximetry values.
Surge in Health Care Expenditure
Emerging economics such as India, China, Brazil, Malaysia, and other countries in developing regions in Asia Pacific, Middle East & Africa, and Latin America present significant opportunities in the health care market. For instance, the Government of India in its Union Budget for 2017–2018 increased the total health care expenditure from 1.97% to 2.27% of total union budget.
Increase in Geriatric Population and Demand for Cerebral Oximeters for Hemostasis
The global population is aging rapidly. According to the WHO, nearly 2 billion people will be aged 60 years and above by 2050, accounting for around 16.7% of the global population. The population in developed countries such as Japan, the U.S., and countries in Western Europe is aging at a faster rate. This is attributed to better health care infrastructure & polices and adoption of techniques new endoscopic techniques. Additionally, access to various diagnostic and treatment services has improved in these regions in the past few years. This, in turn, has increased the life expectancy of the overall population. This will gradually increase demand for cerebral oximeters products.
Increase in Incidence of Neurological and Brain Diseases
Neurological diseases and brain trauma such as hypoxic-ischemic encephalopathy (HIE) are caused due to less supply of oxygen to the brain. Hence, increase in incidence of cerebral hypoxia is anticipated to drive demand for cerebral oximeters. According to estimates, HIE occurs in about 2 to 9 per 1,000 live births and causes significant brain damage and impairment. Increase in incidence of neurological diseases is likely to drive demand for cerebral oximeters products.
