Hemodynamic Monitoring Systems Market

Market Study on Hemodynamic Monitoring Systems: Popularity of Portable Monitors to Surge Over Coming Years

Hemodynamic Monitoring System Market Segmented By Invasive, Minimal-invasive, Non-invasive Hemodynamic Monitoring Systems Type with Disposables, Monitors Product in Floor/Wall-mounted, Benchtop and Portable Hemodynamic Monitoring Systems Modality

  • October-2021
  • PMRREP4396
  • 220 Pages
  • Healthcare
  • PPT, PDF, WORD, EXCEL

Market Snapshot

The global hemodynamic monitoring systems market is estimated to have a market value of around US$ 1.4 Bn as of 2021. As per Persistence Market Research’s projections, hemodynamic monitors held a substantial share of 63.8% in 2020 in the global market. Overall, the hemodynamic monitoring systems market is set to experience significant growth at 5.3% CAGR from 2021 to 2031.

Base year (2020) Market Value

US$ 1.35 Bn

Projected Year (2031) Market Value

US$ 2.37 Bn

Value CAGR (2021-2031)

5.3%

Non-invasive Systems

52% Market Share

Find Out More about the Report Coverage

Companies

  • Edwards Lifesciences Corporation
  • General Electric Company
  • Tensys medical
  • Cheetah medical Inc.
  • ICU medical
  • Koninklijke Philips N.V.
  • LiDCo Group
  • Osypka Medical GmbH
  • Schwarzer Cardiotek GmbH
  • Getinge AB
  • Medtronic Plc.
  • Abbott Laboratories
  • Deltex medical group
  • Bistos Co.Ltd
  • Uscom
  • NI Medical
  • Nihon Kohden

Sales Analysis of Hemodynamic Monitoring Systems from 2016 to 2020 Vs Market Outlook for 2021 to 2031

Global hemodynamic monitoring system demand expanded at 3.2% CAGR over the past 5 years.

Trends in monitoring hemodynamic activities have witnessed significant changes over the past decade. These changes have ensured enhanced patient safety and risk monitoring. Current trends include application of developed hemodynamic monitoring systems with variable modalities that support specific-use instances. Such instances include bioimpedance activity monitoring by hemodynamic monitoring systems and presenting those variables on user-friendly interfaces on a monitor.

Support from accurate depictions of hemodynamic fluctuations with reference to optimal values of hemodynamic variables through precise algorithm-based systems is a prime driver for hemodynamic monitoring system sales.

Introduction of non-invasive methods of measuring cardiac output in a patient through the analysis of arterial pressure waveform has boosted the growth of hemodynamic monitoring systems, subsequently in aid of pulmonary artery catheters, or even without the use of a catheter.

New hemodynamic monitoring devices are developed for the replacement of direct measurements of cardiac output and variables derived from it through cannulation of arterial vessels. These systems operate through computer software as well as algorithms that are industrially catered, and hence, provide the estimated values of various variables. Such systems have been progressively restructured to yield reliable data for the accurate assessment of a patient’s hemodynamic function.

Global hemodynamic monitoring system sales are set to increase at 5.3% CAGR through 2031.

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What are the Key Opportunities for Hemodynamic Monitoring System Manufacturers?

The global hemodynamic monitoring systems market possesses a large amount of opportunistic focus through elaborative strategies by key players and manufacturers. Tele-monitoring and tele-radiology are emerging fields in healthcare that are associated with the provision of greater access as well as precise monitoring of patient vitals and hemodynamic activity.

Presence of digital health solutions has also given rise to the development of implantable hemodynamic monitors.

  • CardioMEMS, HeartPOD, and Chronicle are the three commercially accessible implantable monitors approved by the U.S. FDA for monitoring pulmonary arterial pressure, left atrial pressure, and right ventricular pressure.

Emerging markets are set to offer lucrative growth opportunities for key market players across the globe during the forecast period. Influence is likely to be caused mainly because of increasing patient population across emerging economies and subsequent rise in the uptake of patient monitoring devices.

With the aid of integrated health systems and monitoring applications, software, and interfaces, demand for hemodynamic monitoring systems in emerging markets will display steady growth to fulfil hemodynamic function assessment and management in order to reduce mortality rates.

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Which Factors are Restraining Demand for Hemodynamic Monitoring Systems?

There are certain risks associated with invasive hemodynamic monitoring, which include, but are not limited to, bleeding, thrombosis, sepsis, cardiac arrhythmia, nerve damage, air embolism, and nerve damage. These factors listed are directly associated with increase in mortality rate.

Additionally, care settings with critical cases in reference to cardiovascular diseases adopt the application of pulmonary artery catheters, which is a gold standard in hemodynamic monitoring. However, cost of catheterization impedes demand and has paved the way to moderate or non-invasive methods of hemodynamic monitoring, which are cost-effective and less time-consuming with precise information depiction for a physician’s ease.

Price regulations, competitive pricing, coverage and payment policies, technology assessments, and comparative effectiveness of therapies are some of the other factors restraining healthcare-associated costs. The process of regulatory authentication/validation for emerging suppliers is extensive and is a major factor expected to restrict the growth of hemodynamic monitoring system sales.

The supply of these devices and systems requires strict adherence to regulations, which is a time-consuming process and may thus lead to large expenses linked with the process of regulatory validation.

With the advent of the digital era, technological improvements in various functions of medical services have inadvertently caused a shortage of skilled or trained professionals, thus deteriorating clinical competence in medical settings.

Apart from this factor, cost of devices and equipment is high and the decision to supply a specific hemodynamic monitoring system to a healthcare setting is affected by the skill level and awareness of medical professionals with regard to the safe assistance of interactive monitors, software, and application of hemodynamic monitoring systems.

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Country-wise Insights

What Makes the U.S. the Largest Market for Hemodynamic Monitoring Systems?

The U.S. dominates the North American region with a total market share of 81.5% in 2021, and is projected to continue experiencing high growth throughout the forecast period.

Growth of this market is driven by preference for sedentary lifestyle, high prevalence of cardiovascular diseases, limited physical activity, and rising geriatric population, resulting in high market share and demand for hemodynamic monitoring systems in the country.

Why is U.K. Considered a Lucrative Market for Hemodynamic Monitoring Systems in Europe?

The U.K. dominates the European market for hemodynamic monitoring systems with a share of 22.8%. Globally, per capita healthcare spending is on the rise. Increasing demand for home-based and non-invasive monitoring systems have boosted the sales of portable hemodynamic monitoring systems.

Advances in software and user interfaces of hemodynamic monitors in the country are expected to create higher accessibility to patients with cardiac disorders who require close monitoring.

Why is Japan Considered an Emerging Market for Hemodynamic Monitoring Systems?

Japan holds 31.8% share in the East Asia market, and is projected to expand at a CAGR of over 6.3%. The country has been experiencing an increase in the number of critically ill geriatric patients, and rising burden of cardiac disorders and diabetes.

Presence of major market players in the country is set to advance hemodynamic monitoring in Japan.

  • In December 2019, Nihon Kohden announced the launch of its Life Scope® SVM-7200 Series vital signs monitor, designed for outpatient facilities and beds that are traditionally not continuously monitored.

What is the Outlook for China Regarding Hemodynamic Monitoring Systems?

In 2020, China dominated the East Asia market with 56% share in 2020, and is projected to expand at a CAGR of 8.4% from 2021 to 2031. Presence of strong impact of key players on the development of hemodynamic monitoring systems in the country is driving this regional market of East Asia.

Manufacturers are focusing on expanding strategic global presence and specialized expertise with exclusive technological capabilities, which leads to better availability of hemodynamic monitoring products in China.

  • In May 2019, LiDCo Group launched the LiDCO rapid v3 monitor, LiDCO's latest cardiac output monitor with non-invasive technology in China. The company defined its expansion into China through an increasing number of clinical studies originating from China, reinforcing the positive impacts of hemodynamic monitoring.

Category-wise Insights

Which Hemodynamic Monitoring System type is Driving Market Growth?

By type, non-invasive hemodynamic monitoring systems project lucrative growth at a CAGR of 5.2%.

High demand for non-invasive hemodynamic monitoring systems is associated with their effective and precision-based monitoring, as well as the remote monitoring feature of advanced non-invasive hemodynamic systems. The non-invasive type of hemodynamic monitoring also minimizes the risk of infections and tissue hypoxia in perioperative systems.

Which Hemodynamic Monitoring Product is Leading the Industry?

Hemodynamic monitors, by product, hold a revenue share of 63% in 2021, and are projected to hold an estimated share of 61% by.

Hemodynamic monitors are digitally advanced to provide patients’ hemodynamic input data. Additionally, medical professionals can estimate the optimum cardiac output and the patient’s hemodynamic variables to track and visualize progress or decline in critically-ill patients.

Alerts raised on hemodynamic monitors are essential in practising the management of patient vitals, and is an essential factor in mitigating cases of morbidity.

Why are Portable Hemodynamic Monitors an Emerging Technology?

Continuous patient monitoring is essential to ensure better patient outputs. With increasing prevalence of infectious diseases worldwide due to the advent of COVD-19, access to hospitals and medical settings was restricted. This gave emergence to issues with accessibility to monitoring devices in various geographies over the globe.

Development and manufacturing of portable hemodynamic monitoring systems witnessed a surge to address accessibility concerns as well as provide cost-effective solutions for monitoring hemodynamic variables outside a hospital setting.

The portable monitors segment is expected to hold a market share of around 53% in terms of revenue by the end of the forecast period.

What is the Scenario of Hemodynamic Monitoring Systems in Hospital Settings?

Based on end users, hospitals lead the way with 45.2% market share. The application of advanced hemodynamic systems with flexible modalities have encouraged extensive patient monitoring and has assisted medical staff with detailed reports of hemodynamic variables.

Impact of COVID-19

The impact of the COVID-19 pandemic has led to an increase in the sales of hemodynamic monitoring systems. With increasing prevalence of cardiovascular diseases globally, and co-related high susceptibility of variations in cardiac output, demand for precise and less time-consuming hemodynamic monitoring devices experienced a surge.

Moreover, development of portable as well as disposable hemodynamic monitoring devices led to higher accessibility in developing areas. The trend of adoption of hemodynamic monitoring is expected to stably continue over the forecast period, owing to rising cases of mortality as a result of multiple organ failure.

Competitive Landscape

Key players are focusing on expansion in emerging regions and new revised product manufacturing. The strategy of expansion, new product launches, and approvals by key manufacturers is further strengthening their market presence.

  • In April 2017, Edwards Lifesciences Corporation received FDA clearance for its HemoSphere advanced monitoring platform, which provides clinicians with exceptional clarity on a patient's hemodynamics.
  • In September 2019, Baxter International Inc. entered into an agreement to acquire Cheetah Medical. The agreement demonstrates Baxter's ongoing commitment to improving clinical outcomes with an established patient monitoring technology to better inform and guide clinicians' treatment decisions.

Similarly, recent developments related to companies manufacturing hemodynamic monitoring systems have been tracked by the team at Persistence Market Research, which are available in the full report.

Report Scope as per Hemodynamic Monitoring Systems Industry Research

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

  • US$ Mn for Value
  • Volume ‘000 Units

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

Key Countries Covered

  • US
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Benelux
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Indonesia
  • Malaysia
  • Australia and New Zealand
  • Turkey
  • South Africa
  • GCC Countries

Key Market Segments Covered

  • Type
  • Product
  • Modality
  • End User
  • and Region

Key Companies Profiled

  • Edwards Lifesciences Corporation
  • General Electric Company
  • Tensys medical
  • Cheetah medical Inc.
  • ICU medical
  • Koninklijke Philips N.V.
  • LiDCo Group
  • Osypka Medical GmbH
  • Schwarzer Cardiotek GmbH
  • Getinge AB
  • Deltex medical group
  • Bistos Co.Ltd
  • Uscom
  • NI Medical
  • Nihon Kohden

Pricing

Available upon Request

Key Segments Covered in Hemodynamic Monitoring Systems Industry Survey

By Type

By Product

  • Disposables
    • Probes
    • Air Flow Sensors
  • Monitors
    • Cardiac Output Monitoring Systems
    • Pulmonary Artery Catheters (Pacs)

By Modality

  • Floor/Wall-mounted Hemodynamic Monitoring Systems
  • Benchtop Hemodynamic Monitoring Systems
  • Portable Hemodynamic Monitoring Systems

By End User

  • Hemodynamic Monitoring Systems for Hospitals
  • Hemodynamic Monitoring Systems for Specialty Clinics
  • Hemodynamic Monitoring Systems for Cath Labs
  • Hemodynamic Monitoring Systems for Ambulatory Care Settings
  • Hemodynamic Monitoring Systems for Home-based Care Settings

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  • Is the market research conducted by Persistence Market Research?

    Yes, the report filled with hemodynamic monitoring systems market insights has been compiled by expert analysts of Persistence Market Research, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

  • What research methodology is followed by Persistence Market Research?

    Persistence Market Research follows a methodology that encompasses the demand-side assessment and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

  • Who are the respondents for primary research?

    Persistence Market Research speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

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    Yes, you can request a sample, and it will be sent to you through email.

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Media Release

- FAQs -

The global hemodynamic monitoring systems market is worth US$ 1.35 Bn at present, and is set to expand 1.7X over the next ten years.
The market is expected to reach US$ 2.4 Bn by the end of 2031, with sales revenue expected to register 5.3% CAGR.
From 2016-2020, demand for hemodynamic monitoring systems expanded at the rate of 3.2%, owing to rising cases of morbidity associated with pulmonary artery catheters.
Advanced hemodynamic monitoring systems, decreased use of pulmonary artery catheters, digitalization of hospital systems, and development of less-invasive hemodynamic monitoring systems are key trends being witnessed in this marketplace.
The U.S., India, China, Canada, and U.K. are expected to drive most demand for hemodynamic monitoring systems.
North America is one of the key markets for hemodynamic monitoring systems, with the U.S. expected to account for over 81.4% of the North American market.
Demand for hemodynamic monitoring systems in Europe is expected to register growth of 4.9% CAGR over the next ten years.
The U.S., Germany, and U.K. are key producers of hemodynamic monitoring products.
The South Korea market appears to uphold the least share in East Asia. Japan holds a revenue share of 31.8% in the East Asia market.
The global hemodynamic monitoring systems market is worth US$ 1.35 Bn at present, and is set to expand 1.7X over the next ten years.
The market is expected to reach US$ 2.4 Bn by the end of 2031, with sales revenue expected to register 5.3% CAGR.
From 2016-2020, demand for hemodynamic monitoring systems expanded at the rate of 3.2%, owing to rising cases of morbidity associated with pulmonary artery catheters.
Advanced hemodynamic monitoring systems, decreased use of pulmonary artery catheters, digitalization of hospital systems, and development of less-invasive hemodynamic monitoring systems are key trends being witnessed in this marketplace.
The U.S., India, China, Canada, and U.K. are expected to drive most demand for hemodynamic monitoring systems.
North America is one of the key markets for hemodynamic monitoring systems, with the U.S. expected to account for over 81.4% of the North American market.
Demand for hemodynamic monitoring systems in Europe is expected to register growth of 4.9% CAGR over the next ten years.
The U.S., Germany, and U.K. are key producers of hemodynamic monitoring products.
The South Korea market appears to uphold the least share in East Asia. Japan holds a revenue share of 31.8% in the East Asia market.

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