Global Hemodynamic Monitoring Systems market was valued at USD 982 million in 2021, growing at a CAGR of 6.29% during the forecast period from 2023 to 2028, in order to reach USD 1,416 million by 2028.
The Hemodynamic Monitoring Systems market is witnessing a positive market growth owing to the factors such as the rising prevalence of cardiovascular diseases and diabetes, technological advancement in product development, increasing geriatric population, sedentary lifestyle, and increasing awareness programs regarding cardiovascular diseases.
Some of the key market players operating in the Hemodynamic Monitoring Systems market include Edwards Lifesciences Corporation, Getinge AB, Deltex Medical Limited, ICU Medical, Inc., CNSystems Medizintechnik GmbH, Caretaker, LLC, Osypka Medical GmbH, Baxter International Inc (Cheetah Medical, Inc.), Shenzhen Comen Medical Instruments Co., Ltd., General Meditech Inc., Drägerwerk AG & Co. KGaA, General Electric Company, Smiths Group, Transonic Systems Inc., EMTEL Śliwa sp. K, Koninklijke Philips N.V., NIMedical, Masimo (LiDCO Group Plc), Nihon Kohden Corporation, Hemo Sapiens Inc., and others.
DelveInsight’s “Hemodynamic Monitoring Systems Market Insight & Forecast” report will offer an in-depth understanding of the Hemodynamic Monitoring Systems market, further benefiting the competitors or stakeholders operating in the Hemodynamic Monitoring Systems arena.
Hemodynamic Monitoring Systems Overview
Hemodynamic Monitoring is the medical instrument used to accurately monitor the blood flow through the cardiovascular system as well as monitor the responses of patients. These devices can also help in recognizing the dysfunctioning of other vital organs hence, improving patient safety.
Hemodynamic Monitoring Systems Market Insights
Among all the regions, North America is expected to account for the largest share in the global Hemodynamic Monitoring Systems market. Factors such as the rising prevalence of cardiovascular diseases and diabetes, technological advancement in product development, increasing geriatric population, rising government initiatives, and increased product launches are expected to aid in the growth of the North America Hemodynamic Monitoring Systems Market. Furthermore, high disposable income, sophisticated healthcare infrastructure, and increased awareness regarding disease progression and new treatments are also expected to aid in the Hemodynamic Monitoring Systems market growth in this region.
As per the data provided by the Centers for Disease Control and Prevention, as of 2020, certain risk factors like coronary artery disease (CAD), heart attacks, diabetes, high blood pressure, and obesity increases the risk for heart failure.
Additionally, according to the data of the American Heart Association 2021, in the year 2018, Coronary Heart Disease (CHD) was the leading cause (42.1%) of deaths attributable to CVD in the US, followed by stroke (17.0%), high blood pressure (11.0%), Heart failure (9.6%), diseases of the arteries (2.9%), and other CVD (17.4%).
Also, according to CDC 2021, coronary heart disease is the most common type of heart disease, killing 360,900 people in 2019 in the US.
Therefore, the rising prevalence of CVD in the country would result in the rising demand for treatments that make use of Hemodynamic Monitoring Systems, which in turn would provide a conducive growth environment for the United States Hemodynamic Monitoring Systems market as well as the North American region.
Furthermore, the increased emphasis on product development activities and high interest of device manufacturers in accessing local markets further aid in the growth of the regional markets for Hemodynamic Monitoring Systems. For instance, in March 2021, FDA granted De Novo classification to Fifth Eye’s continuous hemodynamic status monitoring tool. The Analytic for Hemodynamic Instability tool can identify hemodynamic instability with 96% sensitivity and detect stable patients with 85% specificity. The product launches in the local markets correlate to a significant reduction in costs thereby making them affordable for end-users which in turn drives the product demand in the market. Therefore, the interplay of various factors such as the presence of a large patient population, encouraging reimbursement policies as well as new product launches in the region is expected to boost the North America Hemodynamic Monitoring Systems market during the forecast period.
To read more about why North America is leading the market growth in the Hemodynamic Monitoring Systems market, get a snapshot of the Hemodynamic Monitoring Systems market report.
Hemodynamic Monitoring Systems Market Dynamics
One of the main drivers of the Hemodynamic Monitoring Systems market is the rising prevalence of various cardiovascular diseases. As per the data provided by the World Health Organization 2021, cardiovascular diseases (CVDs) are the leading cause of death across the globe, wherein this group of disease-account for an estimated 17.9 million lives each year.
CVDs are classified as a group of disorders that specifically affect the heart and blood vessels. Some of the CVDs include coronary heart disease, rheumatic heart disease, cerebrovascular disease, and other conditions. Furthermore, the data by the WHO 2021, presented that over four out of five CVD deaths list strokes and heart attacks as the main cause, and one-third of these deaths are said to occur prematurely in people below 70 years of age. Over three-quarters of CVD deaths take place in low- and middle-income countries.
Moreover, according to the data provided by the European Society for Cardiology (ESC) 2019, each year cardiovascular disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU) which represent about 45% of all deaths in Europe and 37% in the EU. Therefore, the demand for Hemodynamic Monitoring Systems is set to witness an increased growth owing to the increasing prevalence of CVDs, thereby positively impacting the Hemodynamic Monitoring Systems market growth during the forecast period.
Another key factor responsible for the growth of the Hemodynamic Monitoring Systems market is the increasing geriatric population base across the globe. According to the data provided by the World Health Organization, in 2020, about one billion people across the world were over the age of 60. The source further stated that by 2050, the elderly population in the 60 and above age group is expected to double in number representing about 2.1 billion people, and people in the age group of 80 and above are estimated to triple between 2020 and 2050 to reach 426 million. Age is considered as one of the key risk factors associated with the development of cardiovascular diseases, therefore, the rising elderly population is expected to lead to the rise in the patient population of cardiovascular diseases across the world, which in turn would lead to an increase in demand for Hemodynamic Monitoring Systems in the forecast period, which will drive the Hemodynamic Monitoring Systems market growth.
Along with the factors mentioned above, technological advancements in the field of Hemodynamic Monitoring Systems such as the development of new techniques to enhance the yield and diagnostic accuracy are also expected to aid in the growth of the Hemodynamic Monitoring Systems market. For instance, in September 2021, FDA cleared Caretaker Medical’s VitalStream™ wireless platform for continuous noninvasive blood pressure and Hemodynamic Monitoring.
However, the risk associated with invasive hemodynamic monitoring, such as sepsis, bleeding, hemorrhage, thrombosis is expected to restrain the growth of this market. Moreover, increasing pricing pressure on market players and lack of skilled professionals may be certain limiting factors of the Hemodynamic Monitoring Systems market growth.
Recent Breakthroughs in Hemodynamic Monitoring Systems Market:
- In October 2020, Getinge launched NICCI – the latest innovation in Advanced Hemodynamic Monitoring. NICCI was Getinge’s latest innovation in Advanced Hemodynamic Monitoring, providing continuous and noninvasive hemodynamic insights to reduce the risk of severe complications for patients with low blood pressure.
- In September 2019, Baxter International Inc. entered into a definitive agreement to acquire Cheetah Medical, a leading provider of non-invasive hemodynamic monitoring technologies.
Key Players Proactively Working In the Hemodynamic Monitoring Systems Market
Key Hemodynamic Monitoring Systems companies involved in manufacturing and production are making significant growth in advancing these devices. To boost their market position, they also engage in mergers and acquisitions. Some of the key Hemodynamic Monitoring Systems companies operating actively in the Hemodynamic Monitoring Systems market include Edwards Lifesciences Corporation, Getinge AB, Deltex Medical Limited, ICU Medical, Inc., CNSystems Medizintechnik GmbH, Caretaker, LLC, Osypka Medical GmbH, Baxter International Inc (Cheetah Medical, Inc.), Shenzhen Comen Medical Instruments Co., Ltd., General Meditech Inc., Drägerwerk AG & Co. KGaA, General Electric Company, Smiths Group, Transonic Systems Inc., EMTEL Śliwa sp. K, Koninklijke Philips N.V., NIMedical, Masimo (LiDCO Group Plc), Nihon Kohden Corporation, Hemo Sapiens Inc. and others.
Table of Contents
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1 |
Report Introduction |
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2 |
Executive Summary |
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3 |
Regulatory and Patent Analysis |
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4 |
Key Factors Analysis |
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5 |
Hemodynamic Monitoring Systems Porter’s Five Forces Analysis |
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6 |
COVID-19 Impact Analysis on Hemodynamic Monitoring Systems Market |
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7 |
Hemodynamic Monitoring Systems Market Layout |
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8 |
Hemodynamic Monitoring Systems Global Company Share Analysis – Key 3-5 Companies |
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9 |
Hemodynamic Monitoring Systems Companies and Product Profiles |
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10 |
Project Approach |
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11 |
KOL Views |
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12 |
DelveInsight Capabilities |
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13 |
Disclaimer |
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