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Hemodynamic Monitoring Systems Market

Introduction of non-invasive methods of measuring cardiac output in a patient will boost the global market growth for hemodynamic monitoring systems

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

Hemodynamic Monitoring Systems Market Outlook (2023-2033)

The global revenue from the hemodynamic monitoring systems market stands at US$ 1.47 Bn in 2022, with the global market expected to grow at a CAGR of 5.4% to reach a valuation of approximately US$ 2.5 Bn by the end of 2033.

Market Size (2022)

US$ 1.47 Bn

Projected Market Value (2033)

US$ 2.45 Bn

Global Market Growth Rate (2023-2033)

4.7% CAGR

Market Share of Top 4 Countries

49.1%

As assessed by Persistence Market Research, non-Invasive hemodynamic monitoring systems hold a market share of around 53.0% in 2022 within the global market. Overall, hemodynamic monitoring systems market sales account for approximately 3.6% revenue share in the global patient monitoring devices market, which was valued at around US$ 41.1 Bn in 2022.

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Sales Analysis of Market from 2016 to 2022 Vs Market Outlook for 2023 to 2033

The global market recorded a historic CAGR of 4.1% in the last 6 years from 2016 to 2022.

Hemodynamic monitoring is the study of how blood moves through the heart and blood arteries, which are both parts of the cardiovascular system. Comprehensive patient care requires thorough cardiac output monitoring. In perioperative settings, hemodynamic stability must be closely represented, and hemodynamic monitoring devices play a crucial role when hemodynamic variables are not being used at their ideal levels.

Pulmonary artery catheters are frequently used in cases of heart failure, although their invasiveness has been linked to an increase in morbidity and cases of organ failure due to tissue hypoxia, which can result in cases of mortality.

The use of sophisticated hemodynamic monitors and hemodynamic monitoring implants in patient care has made it possible to remotely observe factors related to a patient's hemodynamic activity. Systems for remote and portable hemodynamic monitoring make it possible to monitor patients at home and are crucial for patients who are at risk for cardiovascular problems.

In March 2021, Getinge launched a virtual hospital to simulate an online state-of-the-art hospital environment to prevent touch-based infections.

The market for hemodynamic monitoring systems is being driven by technological advancements in hemodynamic monitoring systems. In the homecare and clinic sectors, the sale of contemporary, minimally invasive or non-invasive hemodynamic monitoring technology is on the rise. Patients in home care settings typically benefit from in-home monitoring of stroke volume employing minimally invasive hemodynamic monitoring systems, dynamic hemodynamic information, and fluid responsiveness. Volumetric preload parameters are also evaluated using advanced hemodynamic monitoring systems. Furthermore, certain hemodynamic monitoring systems employ distinctive features to measure the continuous volume of central venous saturation using standard catheters.. Therefore, advanced hemodynamic monitoring systems are employed in cardiac cath labs owing to the cardiac output factors, clinical utility, and information management they provide in hospital settings.

Thus, minimally invasive hemodynamic monitoring devices are able to support this diversity in dynamics, which aids in better hemodynamic monitoring. To improve their position in this market, manufacturers are concentrating on working with other market players.

Thus, owed to the above-mentioned factors, the global market is likely to show high growth over the coming years at a CAGR of 4.7% and reach a global market size of US$ 2.45 Bn by 2033.

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How Can the Global Market Grow?

“Focus on cardiovascular diseases management and reduced impact on healthcare cost”

Congestive heart failure and other cardiovascular illnesses are typically chronic and expensive ailments. According to the WHO, almost 32% of all deaths globally are caused by heart problems.

Cardiovascular disease management with the use of digital hemodynamic monitoring and routine assessments has also given patients more authority to participate in the treatment of their conditions. The clinical examination of the circulatory system is helpful in cases of difficult care and maintenance of neonatal circulatory homeostasis related to the complex physiology during the postnatal transition. Hemodynamic monitoring and periodical assessment used in treatment planning have shown doctors' ability to initiate comprehensive therapy. This has emerged as the market's central determinant by setting the parameter using input from hemodynamic monitoring devices.

Circulatory disturbances related to physiological stress, such as tissue hypoxia brought on by surgery, can be easily monitored and cases of morbidity or fatality can be avoided with regular assessments of circulatory function throughout time. The demand for hemodynamic monitoring systems is legitimately driven by this factor, and existing monitoring systems are frequently modified using cutting-edge technology. The ability to receive input that is reliably appraised through such methods is raising physician awareness.

Additionally, according to a study that appeared in the Value for Health journal of ISPOR (The Professional Society for Health Economics and Outcomes Research), the financial advantages of hemodynamic monitoring devices over none at all showed reduced length of stay and hospitalisation expenditures by roughly 35%. This explains the gradual move toward effective and approachable interfaces, including hemodynamic monitoring systems, for better patient outcomes and an all-encompassing healthcare system. Additionally, a considerable decrease in ICU length of stay is anticipated because of the use of minimally invasive monitoring during intraoperative procedures, which will show superior postoperative results. The development of the best application protocols for hemodynamic monitoring systems is expected to increase demand for these devices.

According to a systematic review and meta-analysis published by the Journal of Geriatric Cardiology, hemodynamic monitoring systems along with tele monitoring are set to reduce hospitalization rates for heart failure. The purpose of hemodynamic monitoring is to detect changes in the pressures of the heart and lungs in a few weeks before the symptoms get worse.

The cost of care and in-patient admissions due to undetected symptoms of diseases are greatly reduced with frequent monitoring of the patient's health. The sales growth of hemodynamic monitoring systems is influenced by healthcare costs.

Factors like minimized length-of-stay, reduced hospitalization costs, practical user interface, and close input monitoring are linked with the application of hemodynamic monitoring systems.

Emergence of novel treatment modalities is thus set to present the market with lucrative opportunities for expansion during the forecast period.

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Can the Hemodynamic Monitoring Systems Market Growth Be Affected in Any Way?

Regulatory validations, risks associated with invasive hemodynamic monitoring

The growth of the hemodynamic monitoring systems market is hindered by the extensive formal validation process of new vendors. Providing these devices and systems requires strict regulatory compliance, which is a time-consuming process and can result in significant costs associated with the regulatory validation process.

The growth of the hemodynamic monitoring systems market is expected to be hindered by the impact of the US FDA. Most non-invasive hemodynamic monitoring devices have been approved by medical devices, but regulatory agencies have only begun to discuss their standards

Current regulatory standards for medical devices are favourable. The integration of newer standards in the manufacture and supply of medical devices is included in the recognition of advanced hemodynamic monitoring systems

Bleeding, thrombosis, sepsis, cardiac arrhythmias, nerve damage, air embolism, and nerve damage are just some of the risks associated with hemodynamic monitoring. The increase in mortality is directly related to the listed factors.

Invasive methods of hemodynamic monitoring are only recommended for a set of specific indications, keeping in mind that the risks associated with the techniques are surpassed by the assistance of applicable and relative data during the procedure. The cost factor for hemodynamic monitoring is high and requires skilled professionals to perform catheters.

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Country-wise Insights

Why is the U.S. Market Booming?

“Decreased Use of Pulmonary Artery Catheter”

The U.S. is set to account for around 27.2% share in the global market in 2023. The introduction of non-invasive methods to measure a patient's cardiac output by arterial pressure waveform analysis encouraged the growth of hemodynamic monitoring systems, later with or without a pulmonary artery catheter. Decreased use of pulmonary catheters may be associated with increased incidence of cardiac dysfunction, increased morbidity/mortality, tissue hypoxia, multiple organ failure and management of shock, innovative R & D activities, and increased government health care costs

Will India Be a Lucrative Market for Hemodynamic Monitoring Systems?

“Rise in cardiac complications in the country

India is set to hold more than 43% share of the South Asian market in 2023.

According to the Global Burden of Disease Study, almost a quarter (24.8 percent) of deaths in India are due to cardiovascular diseases. An analysis of cause of death (MCCD) medical records showed an increasing proportion of deaths caused by cardiovascular disease. It rose from 20 percent in 1990 to 27.1 percent in 2004. Overall, this rise in CVD complications will be a major driving factor in the country.

The chances for the market to grow in the upcoming years are being further expanded by the region's rising investments in pharmaceutical R&D.

How is China Emerging as a Prominent Market?

“Higher aging population leading to rise in risk of cardiovascular diseases”

China is set to hold a market share of more than half of the East Asian market in 2023.

The increasingly ageing population and rising numbers of people living with chronic diseases who need continuous medical care are both contributing to China’s rising health complications. The Lancet in November 2022 stated that in 2019, 254 million people in China were aged 60 times or older. By 2040, this number is anticipated to increase to 402 million, making up around 28 of the population. This progressing elderly population is always at a higher risk of diseases like cardiovascular diseases, neurological diseases, etc. Making China one of the lucrative markets by increasing use of these systems to avert the oncoming fear of cardiovascular diseases.

Category-wise Insights

Which Type of system is Driving Demand within the Global Market?

“Development of Less-invasive Hemodynamic Monitoring Systems”

Non-Invasive hemodynamic monitoring systems held around 53.0% of the total market in 2022. This is due to development of less-invasive systems. Recent trends in perioperative settings include the move from static to dynamic variables in monitoring and assessment of conditions similar as cardiac preload and fluid responsiveness and the switch to minimally- invasive hemodynamic monitoring ways. This is due to pitfalls associated with complications during operative settings, similar as perforation and infection. Advantages of these monitoring systems that drive this market forward are reduced recovery time, operation of infections and complications, relief of invasive catheters, precise assessment of hemodynamic conditioning.

The new hemodynamic monitoring devices are developed for the relief of direct measures of cardiac output and the variables derived from it through cannulation of arterial vessels. The systems operate through computer software as well as algorithms that are industrially provisioned and hence give the estimated values of colourful variables. Similar systems have been precipitously restructured to yield dependable data for the accurate assessment of a case’s hemodynamic function.

Which Product is Driving Demand within the Global Market?

Monitors held around 63.4% of the total market in 2022 among the product type segment. Monitors are the most crucial part of this monitoring system as they display all the parameters of the individual that are under assessment by the healthcare professionals. These devices also show any alterations in these parameters, which can further prompt the professionals to take the necessary action.

Which Modality Driving Demand within the Global Market?

Portable systems held around 53.7% of the total market in 2022 among the different modalities. Portable systems allow the staff to easily take the system to the patient in their rooms; they can also be useful for portable monitoring of a patient’s hemodynamic activity. Homecare can also be easily provided to those who are not able to travel to the healthcare setting for the daily or periodical monitoring sessions.

Which End User Provides the Global Market With a Large Share?

The hospitals segment held a share of about 44.8% in 2022. The fact that this system is most useful in the hospital’s cardiology department is the reason for it taking the majority share. Post –surgical or pre-surgical monitoring of the patients can be done to determine whether the surgery was a success or if the patient needs a surgery at all respectively. Owed to these factors, the hospital pharmacy segment holds a greater share within the global market.

Competition Landscape

Some key players included in the report are Edwards Lifesciences Corporation, GE Healthcare (General Electric Company), Cheetah medical Inc. (Baxter), ICU Medical, Koninklijke Philips N.V. (Philips). Global players are investing on R&D to introduce innovative products in order to gain competitive edge. Additionally, they are also focusing on regional expansion through mergers and acquisitions. In developed regions, hemodynamic monitoring systems manufacturers prefer selling their products directly to consumer

Some key instances of development within the market include:

  • In May 2021, Philips announced the European availability of new innovations in its unique portfolio of solutions that integrate imaging, devices, software, informatics and services at each point in a cardiac patient’s journey at EuroPCR 2021 (May 18-20).
  • In October 2021, Bistos Co. Ltd has launched the New Savina 300 NIV that offers safe, effective, and reliable non-invasive ventilation for acute and alternative care environments.
  • In September 2021, Uscom launched the BP+ central blood pressure monitor for the detection of the dangerous cardiac rhythm abnormality Atrial Fibrillation (AF) in a primary care setting.
  • In October 2018, NI Medical collaborated with CHF Solutions to develop innovative solutions for fluid-overloaded patients. The collaboration was made to evaluate clinical synergies between the two companies’ products in the fluid management portfolio.

Similarly, the team at Persistence Market Research has tracked recent developments related to companies in the Hemodynamic Monitoring Systems market, which are available in the full report.

Hemodynamic Monitoring Systems Market Report Scope

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2016-2022

Market Analysis

USD Million for Value

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Argentina
  • Mexico
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia
  • BENELUX
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Turkey
  • GCC
  • North Africa
  • South Africa

Key Market Segments Covered

  • Type of systems
  • Product
  • Modality
  • Region

Key Companies Covered

  • Edwards Lifesciences Corporation
  • GE Healthcare (General Electric Company)
  • Cheetah medical Inc. (Baxter)
  • ICU Medical
  • Koninklijke Philips N.V. (Philips)
  • NI Medical
  • Nihon Kohen
  • Medtronic Plc.
  • Abbott Laboratories
  • Getinge AB
  • Deltex Medical Group
  • Uscom
  • LiDCO Group (Masimo)
  • Osypka Medical GmbH
  • Schwarzer Cardiotek GmbH
  • Shanshi Medical Group
  • Bistos Co.Ltd.

Report Coverage

  • Market Forecast
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Segments Covered in Global Hemodynamic Monitoring Systems Market Research

Type of Systems:

  • Invasive
  • Minimal Invasive
  • Non-Invasive

Product:

  • Disposables
    • Probes
    • Air flow sensors
  • Monitors
    • Cardiac output monitoring systems
    • Pulmonary artery catheters (Pacs)

Modality:

  • Floor/wall mounted
  • Benchtop
  • Portable

End User:

  • Hospitals
  • Specialty Clinics
  • Cath Labs
  • Ambulatory Care Settings
  • Home Based Care Settings

Region:

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

- Companies Covered in This Report -

  • Edwards Lifesciences Corporation
  • GE Healthcare (General Electric Company)
  • Cheetah medical Inc. (Baxter)
  • ICU Medical
  • Koninklijke Philips N.V. (Philips)
  • NI Medical
  • Nihon Kohen
  • Medtronic Plc.
  • Abbott Laboratories
  • Getinge AB&
  • Deltex Medical Group
  • Uscom
  • LiDCO Group (Masimo)
  • Osypka Medical GmbH
  • Schwarzer Cardiotek GmbH
  • Shanshi Medical Group
  • Bistos Co.Ltd.

- Frequently Asked Questions -

The global market is currently valued at around US$ 1.47 Bn in 2022.

Sales of the market are set to witness growth at a CAGR of 4.7% and be valued at around US$ 2.45 Bn by 2033.

Demand for the global market increased at a 4.1% CAGR from 2016 to 2022.

The U.S., India, China, and Canada account for most demand within the market, currently holding around 49.1% market share.

The U.S. is set to account for around 27.2% share in the global market in 2023.

Europe is set to expand at a CAGR rate  of close to 4.9% over the forecast period.

Japan market is set to hold a share of about 4.3% in the global market in 2023.

Germany is set to hold around 4.3% share of the global market in 2023.

China is set to hold a market share of more than half of the East Asian market in 2023.

India is set to hold more than 43% share of the South Asian market in 2023.

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