Increasing cases of critical illness in geriatric patients, high incidence of cardiovascular diseases & diabetes, rise in demand for hemodynamic monitoring devices, increasing digitalization in hospital systems, technological advancements & increased funding scenario in research & development are key factors contributing to high CAGR of hemodynamic monitoring devices market during forecast period.
The global hemodynamic monitoring devices market was valued at USD 958.7 Million in 2020 and is expected to reach USD 1,573.3 Million by the year 2028, at a CAGR of 6.3%. The measurement or estimation of hemodynamic variables such as blood pressure, blood flow, cardiac contractility, cardiac preload, and cardiac afterload plays a crucial role in the monitoring and diagnostic procedures especially in the intensive care unit or in case of patients having major surgery. Hemodynamic monitoring devices facilitate the accurate assessment of blood flow from inside the arteries, heart, and veins. Hemodynamic monitoring plays a fundamental role in the management of acutely ill patients. According to the Society of Critical Care Medicine, the annual cost of critical care has significantly increased in recent years. These devices are extensively used in monitoring the critical patient's post-surgery as well as in many procedures. With increased concerns about the use of invasive techniques, notably the pulmonary artery catheter, to measure cardiac output monitoring can help to identify underlying pathophysiological processes so that appropriate forms of therapy can be selected.
Key companies profiled in the report include
Edwards Lifesciences Corporation, ICU Medical, Inc., LiDCO Group Plc., Drager Medical GmbH, Cheetah Medical, Hemo Sapiens, Inc., GE Healthcare, Schwarzer Cardiotek GmbH, Teleflex Incorporated, Siemens, Osypka Medical GmbH, PULSION Medical Systems SE, Deltex Medical Group Plc., Tensys Medical, Inc., McKessen, and Philips Medical.
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The report is an investigative study that determines market growth and market scope on the basis of market trends, consumer behavior shifts, consumption and production patterns, product portfolio offered by the market, growth rate, drivers and constraints, financial positions, and existing challenges and limitations of the Hemodynamic Monitoring Devices market.
The report discusses in detail the global production capacity, demand and supply ratio, market dynamics, and comprehensive analysis of the competitive landscape. It provides an industry-wide analysis of the market share of each players along with their business portfolio, production and manufacturing capacity, product portfolio, business expansion plans, financial standing, and strategic alliances such as mergers and acquisitions, joint ventures, and collaborations, among others.
The regional bifurcation of the market analyzes key market segments such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report discusses in detail the market growth, market size, revenue growth, market share, production and consumption, demand and supply, current and emerging trends, and technological developments in each region.
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The key geographical regions analyzed in the market report are:
- North America (U.S.A., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Hemodynamic Monitoring Devices Market Segmentation based on Types:
Product (Revenue, USD Million; 2018–2028)
- Monitors
- Disposables
Type (Revenue, USD Million; 2018–2028)
- Invasive
- Minimally invasive
- Non-invasive
- ECG
- Blood Pressure
- Urine Output
- Thoracic Electrical Bioimpedence
- Others
End - Use (Revenue, USD Million; 2018–2028)
- Hospitals
- Clinics & Ambulatory Care Centres (ACCs)
- Homecare Settings
- Others
Further key findings from the report suggest
- The global Hemodynamic Monitoring devices market is forecasted to grow with a CAGR of 6.5% due to high incidence of cardiovascular diseases and diabetes
- The non-invasive type segment is forecasted to register the highest CAGR of 7.2%. Non-invasive systems allow the in-house assessment of hemodynamic statistics without compromising on the accuracy and reliability thereby increasing their demand during the forecast period
- The invasive segment lead the global hemodynamic monitoring devices market and is expected to be dominant in the upcoming years accounting for a market share of 38.8%. The invasive devices provide accurate and comprehensive data of the patients and hence is preferred the most
- The disposables segment dominated the market in terms of revenue generation. Furthermore, the monitoring devices market is expected to witness modest growth
- The hemodynamic monitoring devices are used in Hospitals extensively in a number of surgeries, for accurate monitoring of critically ill patients which drives the Hospital segment growth robustly. The hospital segment is expected to achieve market share of 37.0% during the period of 2019-2026
- The Asia Pacific region is projected to be the fastest growing regional market with a CAGR of 7.3%. The factors fostering the market growth are Economic development in leading countries of India, China and Japan along with favorable government initiatives towards improving healthcare infrastructure is expected fuel market growth
- The North America region accounted for the largest market share of the global Hemodynamic Monitoring devices market in 2018 and is estimated to continue its dominance with a share of 3% in terms of revenue generation
- Tandem Mass Spectrometry segment dominated with a market share of 40.0% in 2018 and is expected to maintain its lead due to its increasing use in combination with liquid chromatography which aids in overcoming challenges associated with traditional techniques in Hemodynamic Monitoring devices
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