Transcutaneous Oximetry Systems Market Analysis

Transcutaneous Oximetry Systems Market Analysis

Based on channel type, the transcutaneous oximetry systems market is segmented as single channel and multichannel. The multichannel segment held the majority of the market share in 2022 and was valued at over USD 96 million. This segment share is primarily attributed to novel technological advancement and an increase in the awareness of benefits related to the use of multichannel transcutaneous oxygen monitors. The biggest advantage of multichannel transcutaneous monitors is that they can easily measure the multitude of signal variations that are significantly applicable to patient monitoring systems.
 

Additionally, according to the Society for Vascular Medicine, this device offers the key advantage of being non-invasive, allowing for quick and precise measurement of tcpO2 without incisions or breaks in the patient's skin. As transcutaneous oximetry systems gain popularity, the integration of big data and artificial intelligence will generate real-time data, effectively reducing mortality related to vascular ischemia, chronic venous insufficiency, and more in the future. Consequently, the projected acceleration of the global market growth in the near future is driven by these novel advancements, the emergence of integrative technologies promoting precision, reduced turnaround time, and their associated benefits.
 

Based on application, the transcutaneous oximetry systems market is segmented as peripheral vascular disorders, diabetic foot ulcers, preterm births, and others. The peripheral vascular disorders segment held a dominant market share in 2022 and was valued at around USD 50 million. The increasing prevalence of peripheral vascular disorders is anticipated to drive the overall market demand in the forecast years.
 

Moreover, altered, and poor lifestyle choices such as lack of bodily activities, drinking, smoking, and other factors are significantly contributing to the surging incidence of blood circulation disorders. The next-generation transcutaneous oximetry systems model will be wireless, using optical signals to continuously and non-invasively communicate with the subcutaneously placed biosensor.  Thus, the above-stated factors with regard to the growing product adoption are anticipated to drive the market growth further in the forecast years.
 

Based on end-use, the transcutaneous oximetry systems market is segmented as hospitals, diagnostic centers, ambulatory surgical centers, and others. The hospitals segment held significant share in 2022 and is projected to reach more than USD 99 million by the end of 2032. This high market share is owing to the rising prevalence of peripheral vascular ailments requiring continuous oxygen monitoring, the rising incidence of preterm birth, and the subsequent number of hospital admissions among others.
 

A sudden spike in the number of COVID-19 cases globally witnessed a tremendous surge in product demand. During the third quarter of 2020, there was a significant rise in the number of COVID -19 patients that required immediate hospitalization due to low oxygen levels and decreased heart rate. This resulted in increased demand for patient monitoring systems such as transcutaneous oximetry systems in several hospitals and clinics. The high adoption rate of advanced transcutaneous oximeters offering enhanced patient monitoring resulted in a further rise in product adoption. Increasing patient admissions with diabetic foot ulcers and other chronic diseases coupled with the availability of highly skilled healthcare professionals are some other attributes that are impelling the market growth of the hospital segment positively.
 

U.S. transcutaneous oximetry systems market with a significant market share in 2022 and is anticipated to expand at a considerable pace to reach around USD 91 million by 2032. The growing prevalence of preterm birth and the surging adoption of advanced patient monitoring systems are some of the major factors that are driving the market growth in the country.