Hemodynamic Monitoring Systems Market is segmented By Product (Disposables, Monitors), By Type (Invasive, Minimally Invasive, Non- Invasive), By End-User (Hospitals, Clinics, Ambulatory Care Centers, Home Care Setting, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Hemodynamic Monitoring Systems Market Report Overview
The Hemodynamic Monitoring Systems Market report analyzes the market shares, size, recent trends, future market outlook, and competitive intelligence. The demand for hemodynamic monitoring systems is increasing due to the rising prevalence of cardiovascular diseases and the growing geriatric population. The market is witnessing a surge in orders from the American region. The competitive rivalry is intensifying with major players such as Edwards Lifesciences Corporation, LiDCO Group plc, ICU Medical, Inc., and others actively operating in the market.
The hemodynamic monitoring system measures blood pressure in veins, the heart, and arteries and blood flow and oxygen levels in the blood. A hemodynamic monitoring system is typically used for individuals with cardiovascular health conditions who need to be examined, such as those undergoing heart surgery. Furthermore, these tests detect changes in cardiac functions such as decreased urine production, gastrointestinal bleeding, cardiomyopathy, congestive heart failure, and myocardial infarction.
Hemodynamic monitoring systems market Scope and Summary
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Metrics |
Details |
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Market CAGR |
4.84% |
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Segments Covered |
By Product, By Type, By End-User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Hemodynamic Monitoring Systems Market Dynamics and Trends
The development of technologically modern minimally invasive or non-invasive hemodynamic monitoring products has increased the system's sales in-home care settings and clinics. The minimally invasive monitoring systems aid in stroke volume tracking and provide dynamic information on fluid responsiveness. Some of the aid of the system in evaluating volumetric preload variables, while others use proprietary catheters to highlight the continuous volume of central venous saturation. These minimally invasive system variables improve hemodynamic monitoring The increasing number of critically ill geriatric cases, rising prevalence of cardiovascular disorders and diabetes, rising demand for home-based and non-invasive monitoring systems, and technological advancements in the hemodynamic monitoring system are driving the hemodynamic monitoring system market.
The increase in the prevalence of cardiovascular diseases in the market will drive the market growth
The increasing prevalence of cardiovascular diseases has been the primary driving force behind the global hemodynamic monitoring systems market. Adopting unhealthy, sedentary lifestyles by an increasing demographic of urban users is a key factor in this. It has resulted in cardiovascular disease becoming a disease of the young and middle-aged rather than solely confined to the elderly. The unhealthy dietary habits of city dwellers have also contributed to the rising prevalence of cardiovascular diseases. They are thus expected to remain a significant indirect contributor to the global hemodynamic monitoring systems market.
Cardiovascular disease is the leading cause of death for men and women worldwide. According to the American College of Cardiology, a myocardial infarction occurs every 40 seconds in the United States. In 2017, an estimated 356,461 Americans witnessed an out-of-hospital cardiac arrest as determined by emergency medical services. In 52% of cases, emergency medical services were initiated. Diabetes, hypertension, and other lifestyle-related diseases are becoming more common. According to the WHO, an estimated 1.13 billion people worldwide suffer from hypertension. Furthermore, with an aging population and the need to be monitored regularly, an effective system for closely monitoring the heart is required.
In that context, the HMS is used to assess patients' quality of life, conduct a clinical examination of their cardiovascular health, and determine their prognosis following cardiac surgery. These measurable parameters are used in pressure transducers, electrical and photometric devices, and invasive and non-invasive devices. This system also includes several intravascular catheters used to assess a patient's cardiovascular health. The benefits of the hemodynamic monitoring system, which aids in treating cardiovascular disease and other lifestyle diseases, are driving the market growth.
Furthermore, several organizations are concentrating their efforts on making these hemodynamic monitoring systems more technologically advanced to meet rising product demand through mergers, acquisitions, and product launches. For example, in 2019, Baxter acquired Cheetah Medical, a non-invasive hemodynamic monitoring technologies provider, for a price that could exceed USD 200 million. Cheetah Medical's Starling SV system, designed to provide clinicians with fluid responsiveness measurements to maintain organ and tissue perfusion, will be acquired by Baxter as part of the transaction. This market development by these companies is expected to fuel the growth of the hemodynamic monitoring system market. This contributes to the growth of the global hemodynamic monitoring systems market.
A rise in the risk of complications associated with invasive monitoring systems is likely to hamper the market growth
Apart from the discomfort of invasive monitoring (primarily the insertion of the pulmonary artery catheter), there are several risks associated with this technique, including sepsis, bleeding, cardiac arrhythmias, decreased circulation to the distal limb, bleeding, nerve damage (during insertion), thrombosis, air embolism, and pulmonary capillary necrosis. These variables raise the risk of death during invasive hemodynamic procedures. As a result, invasive hemodynamic monitoring is only recommended for a limited number of indications, provided that the risks are exceeded by the benefits of obtaining the necessary data during the procedure. Furthermore, invasive hemodynamic monitoring systems are not advised for elderly or weak patients. Furthermore, invasive hemodynamic monitoring is prohibitively expensive and necessitates skilled professionals to insert catheters into patients. Although invasive hemodynamic monitoring provides accurate, comprehensive, and continuous data about a patient's hemodynamic state, the risks mentioned above limit its use. Other variables limiting healthcare-related costs include price controls, competitive pricing, coverage and payment policies, technological assessments, and the comparative effectiveness of therapies. The regulatory authentication/validation process for developing providers is lengthy and projected to limit hemodynamic monitoring system sales growth.
COVID-19 Impact on Hemodynamic Monitoring Systems Market Growth
The impact of the COVID-19 pandemic has increased hemodynamic monitoring system sales. With the rising global prevalence of cardiovascular diseases and the associated high susceptibility to variations in cardiac output, demand for precise and less time-consuming hemodynamic monitoring devices has increased.
Furthermore, portable and disposable hemodynamic monitoring devices have resulted in greater accessibility in developing countries. The trend of hemodynamic monitoring adoption is expected to continue steadily over the forecast period, owing to rising mortality cases resulting from multiple organ failures.
Hemodynamic Monitoring Systems Market Segment and Shares
The noninvasive segment is expected to grow at the fastest CAGR during the forecast period (2023-2030)
There has been a growing preference for noninvasive technologies over previously accepted invasive techniques in recent years. Noninvasive HMS allows for painless diagnosis and reduces patients' risk of contracting blood-borne infections. Furthermore, unlike invasive systems, these systems are simpler to use and can be operated by a nurse without a specialist/doctor. Because of this advantage, the hemodynamic state of multiple patients can be monitored simultaneously, resulting in lower staff and treatment costs. These benefits are expected to drive an increase in the market for noninvasive systems in the coming years. Noninvasive hemodynamic monitoring entails continuously measuring blood pressure with finger cuffs and measuring the cardiac output with the pulse contour method in critically ill patients. Caretaker 4 from Caretaker Medical, for example, measures continuous beat-by-beat blood pressure ("cNIBP"), heart rate, and other physiological parameters with a finger cuff. During the projected period, the hemodynamic monitoring systems market will be fueled by the growing utilization of noninvasive technology.
Hemodynamic Monitoring Systems Market Geographical Analysis
North American region holds the largest market share of the global hemodynamic monitoring systems market
North America now dominates the hemodynamic monitoring systems market, likely to do so for a few more years. The United States dominates the global hemodynamic monitoring systems market. Because of large market competitors, technologically equipped hospitals, and an increasing number of critically ill patients being treated in hospitals in the region, the rise of the US hemodynamic monitoring market is the most notable. Cheetah Medical Inc. gained FDA approval for their non-invasive hemodynamic monitoring device, 'Starling SV,' in 2016. The US hemodynamic monitoring market is likely to rise during the forecast period, thanks to increased FDA approvals for monitoring devices and new product releases.
The Asia Pacific is a market where companies should consider expanding their presence. According to the American Diabetes Association, Asia is home to more than 60% of the world's diabetic population. India and China are both densely populated nations. For example, in August 2020, the Government of India announced the creation of a national health ID for every Indian to create a centralized mechanism for uniquely identifying every participating user in the National Health Stack. The Asia Pacific region's growth rate in the global hemodynamic monitoring systems market will be encouraging.
Hemodynamic Monitoring Systems Companies and Competitive Landscape
The hemodynamic monitoring systems market is highly competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Edwards Lifesciences Corporation, Getinge AB, Baxter International Inc, Dragerwerk AG & Co.KGaA, LiDO Group, Osypka Medical GmbH, Deltex Medical, ICU Medical, ICU Medical, CN SYSTEMS MEDIZIN TECHNIK GMBH, NI Medical, GE Healthcare, Draeger Medical. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the hemodynamic monitoring systems market globally. For instance December 2019, Nihon Kohden introduced the Life Scope®, SVM-7200 Series vital signs monitor, intended for outpatient facilities and beds that are not often monitored continually. Masimo paid $40.1 million to Lidco, a manufacturer of advanced hemodynamic monitoring devices, in November 2020. The acquisition will help the company provide innovative and best-in-class monitoring solutions for improved patient safety and outcomes.
Key Developments
- In March 2018, Acumen Hypotension Prediction Index (HPI) software was released by Edwards Lifesciences in the United States.
- In Feb 2018, LiDCO Group signed a distribution agreement with Spacelabs Healthcare SAS to distribute LiDCO products in France.
- In September 2019, Cheetah Medical has agreed to be acquired by Baxter International Inc. The partnership highlights Baxter's continued commitment to enhancing clinical outcomes by utilizing a well-established patient monitoring technology to inform and guide physicians' treatment decisions.
- In April 2017, Edwards Lifesciences Corporation's HemoSphere enhanced monitoring platform, which offers clinicians extraordinary clarity on a patient's hemodynamics, obtained FDA approval.
Ewards Lifesciences Corporation
Overview: Edwards Lifesciences Corporation makes heart valve systems and repair products used to replace or repair a patient's diseased or defective heart valve. The company focuses on patient-centered innovations for structural heart disease and critical care monitoring.
Product Portfolio:
ClearSight system: The ClearSight system provides noninvasive access to automatically calculated, beat-to-beat hemodynamic information for a broader patient population, including those who would not ordinarily have an arterial line implanted. Your patient's finger is connected to the ClearSight system. The finger cuff can be used and reapplied on one patient for up to 72 hours after starting a measurement. After eight hours of continuous monitoring on a single finger, the finger cuff should be reapplied to another finger. Two ClearSight finger cuffs can be connected simultaneously to alternate the measurement between two fingers for added comfort. This allows for continuous monitoring for up to 72 hours.
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