Tissue Oximetry Devices Market Size, Share, and Industry Analysis, By Type (Handheld Devices and Modular Devices), By Application (Cardiology, Neurology, Nephrology, and Others), By End-User (Hospitals & ASCs, Clinics, and Others), and Regional Forecast, 2026-2034

Tissue oximetry systems use near-infrared spectroscopy (NIRS) to measure tissue oxygenation and blood perfusion. The system has optical technology and wearable sensors, which are utilized to comprehend human physiology and detect diseases. Tissue oximetry offers the advantage of early detection of oxygen levels in the blood over pulse oximetry.

• As per an article published by the National Center for Biotechnology Information in July 2022, a comparative study was conducted to determine the effectiveness of tissue oximetry against pulse oximetry. The study indicated that tissue oximetry detected the hypoxia effects earlier than pulse oximetry. The near-infrared spectroscopy of tissue oximetry can detect and monitor respiratory cycles in real time.

Tissue oximetry devices provide non-invasive tissue oxygenation monitoring for several clinical scenarios, such as hypotension, hypovolemia, hemorrhage, shock, or ischemia. The devices are commonly used to measure cerebral oxygenation in cardiac surgeries. The market growth is propelled by various factors, such as a rise in the incidence of heart diseases and an increasing need for cardiac surgery, among others.

• For instance, as per data published by NCBI in September 2022, cardiac surgery plays an important role in cardiovascular health due to the rising prevalence of cardiovascular diseases, including atherosclerosis, hypertension, and other lifestyle risk factors. The overall mortality in cardiac surgery is between 2% and 3%.

Impact of COVID-19 on the Tissue Oximetry Devices Market

The pandemic resulted in an adverse impact on the tissue oximetry devices market. Due to the outbreak of COVID-19, cardiac surgeries were postponed. The coronavirus disease 2019 (COVID-19) affected all aspects of healthcare services, including cardiac surgical practices.

• As per an article published by NCBI, in January 2022, the rate of performing cardiac surgeries was substantially decreased by 37% during the outbreak of COVID-19 from March 2020 to April 2021.
• According to another article published by NCBI, in September 2021, less priority was given to major cardiac surgeries due to the increased focus on health services toward COVID‐19. Around 60% of the beds of the cardiology unit were utilized for COVID‐19 patients.

Segmentation

Key Insights

The report covers the following key insights:

• Prevalence of Key Cardiovascular Diseases, By Key Countries/Regions, 2022
• Technological Advancements in Tissue Oximetry Devices
• Key Industry Developments (Mergers, Acquisitions, Partnerships, and Others)
• New Product Launches
• Impact of COVID-19 on the Tissue Oximetry Devices Market

Analysis by Type

Based on type, the handheld devices segment accounted for a significant proportion of the tissue oximetry devices market in 2022. The growth was mainly attributed to constant innovation and the development of new devices for tissue oxygenation measurement, which is further associated with cardiac surgeries.

• In July 2020, Nonin announced the U.S. Food and Drug Administration (FDA) clearance of 510(k) for its CO-Pilot wireless handheld multi-parameter system (H500). An additional sensor of this device can be used for the measurement of cerebral and tissue oximetry.

Regional Analysis

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North America is expected to gain a significant market share in the tissue oximetry devices market during the forecast period. Some of the prominent factors boosting the market growth include the rising burden of cardiovascular diseases, the growing number of cardiac surgical procedures, and the increase in U.S. FDA approvals of accessories that enable compatibility with tissue oximetry systems. 

• For instance, in September 2019, the U.S. FDA approved HemoSphere CX manufactured by Edwards Lifesciences Corporation. It is a smart cable that enables compatibility between HemoSphere's advanced monitoring platform and the company's ForeSight tissue oximetry (brain oxygenation) sensors.

In addition, the robust growth of technology in the healthcare sector and increasing product launches, coupled with the rising levels of research and development, are driving the market expansion in North America.

Key Players Covered

The report includes the profiles of key players, such as Artinis Medical Systems, Edwards Lifesciences Corporation, HyperMed Imaging, Inc., ISS, Inc., Medtronic, Moor Instruments Limited, Spectros Medical Devices, Inc., Terumo Corporation, and others.

Key Industry Developments

• In May 2023, Spectros Medical Devices, Inc. developed ground-breaking tissue monitoring technology. It has proven invaluable in the post-reconstructive microsurgery stage, providing early detection of vascular compromise through its sensors. By using this technology, the company is revolutionizing the way healthcare is delivered globally.
• In December 2021, Medtronic received the U.S. Food and Drug Administration (FDA) clearance of 510(k) for its INVOS 7100 somatic/cerebral oximetry system for the pediatric population. This clearance expanded the use of the INVOS 7100 system to monitor organ-specific oxygen levels and identify warning signs for neonates and children earlier.
• In February 2019, Edwards Lifesciences Corporation announced the acquisition of CAS Medical Systems, Inc., a medical technology company dedicated to non-invasive tissue oxygenation monitoring in the brain.