Hemodynamic Monitoring Devices Market Trend – Rapid Advancements in Hemodynamic Monitoring Systems
Increasing prevalence of cardiovascular diseases, diabetes, and hypertension worldwide, growing preference for minimally invasive hemodynamic monitoring devices, and rising number of surgeries are some key factors expected to drive global Hemodynamic Monitoring Devices market growth.
According to Emergen Research, the global hemodynamic monitoring devices market size was USD 974.3 million in 2020 and is expected to reach USD 1,566.7 million in 2028 and register a steady revenue CAGR of 6.1% during the forecast period, 2021-2028.
Over the recent years, there has been a significant increase in the number of patients suffering from cardiac dysfunction, resulting in surging demand for hemodynamic monitoring devices. Hemodynamic monitoring devices are widely used in hospitals and ambulatory care centers to assess and monitor blood volume, heart rate, blood pressure, temperature, central venous pressure, and blood gas analysis of patients during surgical procedures. These devices are also used for monitoring patients post surgeries.
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Hemodynamic monitoring devices are rapidly gaining popularity due to increasing need for efficient and accurate monitoring of fluctuations during and post-surgery, rising elderly population, and growing awareness about early detection and management of associated diseases and conditions. Factors such as increasing prevalence of lifestyle-associated disorders, rapid adoption of advanced hemodynamic monitoring devices in critical care units, improving healthcare infrastructure, and rising healthcare expenditure are expected to drive global market revenue growth during the forecast period. In addition, increasing funds by public and private organizations and high focus on developing advanced, user-friendly, and pocket-friendly monitoring devices are expected to fuel market growth going ahead. However, factors such as high costs of monitoring systems, unavailability of skilled professionals, low awareness about advanced monitoring systems, and high chances of bleeding, hemorrhage, and thrombosis during invasive hemodynamic monitoring can hamper adoption of these devices and restrain revenue growth of the market to a certain extent during the forecast period.
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Monitor Segment to Account for Largest Revenue Share:
The monitor segment is expected to account for largest revenue share between 2021 and 2028. This can be attributed to increasing prevalence of cardiovascular diseases across the globe, rapid advancements in monitoring systems, rising demand for portable hemodynamic monitors, and increasing investments in developing more efficient monitors.
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Home Care Setting Segment To Register Rapid Revenue CAGR:
The home care setting segment is expected to register rapid revenue CAGR over the forecast period owing to increasing prevalence of cardiac disorders, diabetes, low blood pressure, rising geriatric population, rapid adoption of home care settings, and growing demand for advanced, user-friendly monitoring devices.
North America to Lead in Terms of Revenue Share:
North America is expected to dominate other regional markets in terms of revenue share during the forecast period owing to increasing prevalence of cardiovascular diseases, rising elderly population, rapid advancements in monitoring technology, and presence of well-established healthcare infrastructure and facilities. In addition, increasing adoption of advanced hemodynamic monitoring devices and systems in many hospitals and ambulatory care centers across the region, high preference for home care settings, rising focus on developing more advanced hemodynamic monitoring devices, and presence of leading manufacturers are expected to fuel market growth in North America during the forecast period.
Major Companies 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.
- Koninklijke Philips NV.
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For the purpose of this report, 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
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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
- South Africa
- Rest of MEA
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