Hemodynamic Monitoring Devices Market Size to Reach Valuation of USD 1,566.7 Million in 2028 Growing at a CAGR of 6.1%, According to Latest Analysis by Emergen Research
The global hemodynamic monitoring devices market size is expected to reach USD 1,566.7 Million at a steady CAGR of 6.1% in 2028. Surge in cardiovascular disorders in different age groups and rising prevalence of lifestyle disorders is driving urgent need for early detection and management of associated diseases and conditions, and the trend is expected to continue going ahead.
Hemodynamic monitoring solutions help healthcare personnel and care givers to be aware of critical situations through the use of a range of catheters, sensors, monitoring systems, and software. These devices are used to monitor patients with life-threatening diseases post-operative surgery. These also help in monitoring any fluctuations which could prove critical to patient outcomes. Increase in individuals suffering from blood pressure and related disorders and rise in prevalence of hypertension and diabetes in countries across the globe are other major factors driving revenue growth of the global hemodynamic monitoring devices market.
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Increased investment in research & development to design and introduce more advanced and effective solutions to deal with life-threatening diseases is also expected to drive market growth to a significant extent. Governments across the globe are trying to reduce healthcare costs, which is also contributing to market growth. Electronic medical records are used for reimbursement after completion of treatment, which is creating demand for hemodynamic monitoring devices owing to this feature being available in these systems. However, high cost of hemodynamic monitoring systems and risk of hemorrhage, thrombosis, sepsis, bleeding, and air embolism is hampering deployment, and impacting growth of the market.
Some Key Highlights From the Report
- In November 2020, Masimo signed an agreement to acquire hemodynamic monitoring devices maker LiDCO. The acquisition was valued at USD 40.1 million. The company is engaged in developing equipment used to measure physiological parameters such as stroke volume, cardiac output, and systematic vascular resistance.
- Monitors segment accounted for largest revenue share in 2020 due to rise in prevalence of cardiovascular disorders and development of advanced monitoring systems. Increase in investment by market players to develop patient-centred care is driving revenue growth of the monitor segment.
- In certain surgical applications, blood pressure is monitored invasively allowing medical staffs to react to changes at a quicker rate. For instance, if anaesthesia is administered to a patient, continuous invasive monitoring can confirm it has not led to any adverse effects to blood pressure. Invasive hemodynamic monitoring systems segment accounted for a significant revenue share in 2020, and the trend is expected to continue over the forecast period.
- Hospital segment accounted for largest revenue share in 2020 due to rapid modernization in the healthcare sector in countries across the globe. Incorporation of modern technologies in hospitals ease some of the burden on hospital staff and helps them to avoid any critical relapse of patients post-operative surgeries.
- North America accounted for largest revenue share in 2020 due to early adoption of advanced technologies in countries in the region. The U.S. contributed majority revenue share to the market in North America owing to availability of technologically advanced hospitals, presence of major players, and rise in number of critically ill patient in the country.
- Key players in the market include GE Healthcare, Drager Medical GmbH, Edward Lifesciences Corporation, Philips Medical, Hemo Sapiens, Inc., Deltex Medical, Lidco Group, Schwarzer Cardiotek GmbH, Tensys Medical Inc., and Koninklijke Philips NV.
Emergen Research has segmented the global hemodynamic monitoring devices market on the basis of product, type, end-use, and region:
- Product Outlook (Revenue, USD Million; 2018–2028)
- Type Outlook (Revenue, USD Million; 2018–2028)
- Minimally Invasive Hemodynamic Monitoring Systems
- Invasive Hemodynamic Monitoring Systems
- Noninvasive Hemodynamic Monitoring Systems
- End-use Outlook (Revenue, USD Million; 2018–2028)
- Clinics and ambulatory care centers
- Home care settings
- Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest Of MEA
- North America
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