New York, United States , April 12, 2024 (GLOBE NEWSWIRE) -- The Global Hemodynamic Monitoring Market Size is to Grow from USD 1.55 Billion in 2023 to USD 2.75 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.90% during the projected period.
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Hemodynamic monitoring devices are devices that function to monitor the blood flow through the blood vessels that ultimately aid in identifying the cardiovascular status of a patient's body to guide treatment decisions. It is also used to analyze the temporary decline in blood flow to the brain, sudden drops in blood pressure or heart rate, and changes in blood volume or distribution by using devices such as EKG monitoring, blood pressure monitoring, hemodynamic echo, and nuclear medicine imaging. The application of the hemodynamic monitoring device type depends upon the condition of the patient, extensively used for the diagnosis of shock like hypovolemic, cardiogenic, obstructive, or distributive according to the hemodynamic profile of the body. Hemodynamic monitoring has a pivotal role in managing medical conditions such as organ dysfunction, deterioration into multi-organ failure, and eventually death by monitoring hypovolemia, cardiac dysfunction, or alterations of vasomotor function in the body. The growing demand for patient monitoring devices in non-hospital settings and emerging economies (such as China, India, Brazil, and Mexico) is expected to offer lucrative growth opportunities for hemodynamic monitoring. The increasing cases of cardiovascular diseases, COPD, and respiratory diseases and advancement in surgical procedure techniques are expected to propel the market. The launch of new and innovative hemodynamic monitoring devices has a major role in enhancing market demand for the device for detecting hemodynamic alteration in the body. On the contrary, the lack of awareness regarding disease diagnosis negatively affects the market growth. Additionally, the rising price of hemodynamic monitoring devices hampering the global hemodynamic monitoring market.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Hemodynamic Monitoring Market Size, Share, and COVID-19 Impact Analysis, By Product (Disposables, and Monitors), By End-use (Hospitals, Clinics & Ambulatory Care Center, and Home Care Setting), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The non-invasive segment dominates the market with the largest revenue share through the forecast period.
Based on system type, the global hemodynamic monitoring market is segmented into invasive, minimally invasive, and non-invasive. Among these, the non-invasive segment is dominating the market with the largest revenue share through the forecast period. The non-invasive type of hemodynamic monitoring devices are widely used in various clinical settings, such as outpatient clinics, general wards, and home care, to monitor patient’s cardiovascular parameters. Getinge introduced NICCI, a cutting-edge non-invasive monitoring system to reduce the problems brought on by low blood pressure, in October 2020.
The monitors segment is witnessing significant CAGR growth through the forecast period.
Based on the product, the global hemodynamic monitoring market is segmented into disposables and monitors. Among these, the monitors segment is witnessing significant growth through the forecast period. The increasing investment in the development of patient-centric care and technology-advanced products in the market is likely to drive the hemodynamic monitoring market demand.
The hospital segment is witnessing significant CAGR growth through the forecast period.
Based on the end-use, the global hemodynamic monitoring market is segmented into hospitals, clinics & ambulatory care centers, and home care settings. Among these, the hospital segment is witnessing significant growth through the forecast period. The diseases such as heart failure, sepsis, and shock are well managed in hospitals thus market demand for hemodynamic monitoring is high in the hospital segment. Hospitals perform invasive surgeries, which necessitates the demand for accurate hemodynamic monitoring devices. According to NCBI, an estimated 1.7 million patients suffer from sepsis annually in the U.S.
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North America dominates the market with the largest market share over the forecast period.
North America dominates the market with the largest market share over the forecast period. The healthcare infrastructure and technological advancement in the region are likely to enhance the hemodynamic monitoring market. The high healthcare expenditure for the treatment of cardiovascular diseases among the patients is responsible for market growth. According to Rural Health Information Hub, the geriatric population in the U.S. is expected to increase by 18 million between 2020 – 2030.
Asia-Pacific region is expected to grow the fastest during the forecast period. The rising product approval in countries like China and Japan is expected to propel the market of hemodynamic monitoring. The National Medical Products Association (NMPA) approved Medtronic's Evolut PRO TAVR System in January 2022.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global Hemodynamic Monitoring market are Edwards Lifesciences Corporation, PULsion Medical Systems SE, LiDCO Group Plc., Baxter, Deltex Medical Group, ICU Medical, GE Healthcare, OsypkaCardiotek GmbH, Koninklijke Philips N.V., Masimo, Getinge AB, Tensys Medical Inc., Schwarzer Cardiotek GmbH, Deltex Medical, CNSYSTEMS MEDIZINTECHNIK GMBH, ICU Medical Inc., and Others Key Players.
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Recent Developments
- In May 2023, Inspira Technologies OXY B.H.N. Ltd. announced the development of VORTX, a respiration technology that is expected to improve hemodynamic performance and reduce oxygenator failures.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global hemodynamic monitoring market based on the below-mentioned segments:
Global Hemodynamic Monitoring Market, System Type Analysis
- Invasive
- Minimally Invasive
- Non-Invasive
Global Hemodynamic Monitoring Market, Product Analysis
- Disposables
- Monitors
Global Hemodynamic Monitoring Market, End-use Analysis
- Hospitals
- Clinics & Ambulatory Care Center
- Home Care Setting
Global Hemodynamic Monitoring Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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