Hemodynamic Monitoring Systems Market

Hemodynamic Monitoring Systems Market Size (2023 to 2028)

The global hemodynamic monitoring systems market is estimated to be USD 1401 Million by 2028 from USD 1110 million in 2023, growing at a CAGR of 4.77% during the forecast period.

Hemodynamic Monitoring Systems Market Share Insights:

• Based on product, the disposables segment dominated the market in 2022.
• Based on monitoring type, the invasive segment led the market in 2022.
• Based on end-user, the hospital segment had the largest market share in 2022.
• North America was the largest regional market and accounted for 34.8% of the global market in 2022.
• The European region held a noteworthy share of the worldwide market in 2022.

The hemodynamic monitoring system is used to measure blood pressure in veins, heart, and arteries, and it even measures blood flow and the presence of oxygen in the blood. A hemodynamic monitoring system is mainly used for patients suffering from cardiovascular health issues and needs to be assessed, especially cardiac surgery patients. Moreover, these tests observe the loss of cardiac functions such as decreased urine output, decreased cardiac output, gastrointestinal bleeding, cardiomyopathy, congestive heart failure, and myocardial infarction. In addition, these products further determine the blood volume and oxygen perfusion rate and restrict the incidence of adverse effects due to excess fluid administration. Therefore, the hemodynamic monitoring systems market is likely to grow steadily during the forecast year.

MARKET DRIVERS:

The market for hemodynamic monitoring devices is mainly driven due to an alarming rise in the prevalence of cardiovascular diseases.

For instance, according to World Health Organization (WHO), in 2012, more than 17.5 million people were dead due to cardiovascular diseases. In addition, health conditions induced by sedentary lifestyles, the growing need for critical congenital heart disease (CCHD) screening, and the rising incidence of COPD and other respiratory disorders are further propelling the growth of the hemodynamic monitoring systems market. According to the Centers for Disease Prevention and Control (CDC), an estimated 15 million Americas are suffering from COPD, and each year 150,000 Americans die from COPD, that is one death every 4 minutes. Furthermore, the incidence of COPD among people is growing significantly worldwide, mainly due to high tobacco intake. In addition, the rise in the elderly population and the adoption of sedentary lifestyles are boosting the market growth. Moreover, the increase in the number of surgeries yearly is propelling the market.

The growing need for critical congenital heart disease (CCHD) screening is a significant opportunity for market growth. The favorable reimbursement policies and the unhealthy diet in urban areas causing health troubles among people are estimated to fuel the market's growth rate. Moreover, the rise in the investments in R&D by both government and private companies for effective treatment is boosting the global hemodynamic monitoring systems market growth. 

MARKET RESTRAINTS:

The high costs associated with monitoring machines and the high price of treatments are the major restraints for market growth. In addition, the risk of thrombosis, air embolism, hemorrhage, sepsis, and bleeding associated with the invasive hemodynamic monitoring system is hampering the market growth. Furthermore, the lack of awareness among people about disease diagnosis in emerging and underdeveloped countries is a significant challenge for market growth. Moreover, the lack of professional workers is preventing the hemodynamic monitoring systems market growth. 

COVID-19 Impact on the global hemodynamic monitoring systems market:

The global economy had adversely impacted during the pandemic. During a pandemic, all sectors got affected differently; some were positively and negatively impacted. The hemodynamic monitoring systems market had both positive and negative impacts. Due to the implementation of strict lockdowns everywhere, the supply chain is disturbed, and raw material supply is affected, which impacted the market growth during the pandemic. But to treat COVID patients, all the non-ICU wards in hospitals had converted into intensive care units, which propelled the market during the pandemic. Since the corona patients need to be monitored thoroughly to avoid hemodynamic instability, the hemodynamic monitoring systems demand was raised.

Moreover, several health authorities approve of using hemodynamic monitoring systems in corona patients. For example, for mechanical oxygenation and hemodynamic support, the FDA approved using the ECMO cannula system for better treatment. These agreements raised the opportunity for the hemodynamic monitoring systems market during the pandemic. The key market players had led the market into profits in the rough times.

REPORT COVERAGE:

This research report on the global hemodynamic monitoring systems market has been segmented and sub-segmented based on the product, monitoring type, end-user, and region.

 Hemodynamic Monitoring Systems Market – By Product:

• Systems
• Disposables

Based on the product, the disposables segment is estimated to account for the largest share during the forecast period. The rising adoption of disposables in casualty rooms and critical care units in hospitals are driving the segment. Disposables are further segmented into sensors, guide wires, and measurement probes. 

Hemodynamic Monitoring Systems Market - By monitoring type:

• Invasive
• Minimally invasive
• Non-invasive

The invasive monitoring systems segment is estimated to account for the largest share based on the monitoring type. The early detection, identification, and treatment of life-threatening diseases are the main factors boosting the invasive monitoring systems segment. On the other hand, the minimally invasive market is gradually growing due to its ability to help in tracking stroke volume continuously.

Hemodynamic Monitoring Systems Market – By End User:

• Hospitals
• Cath labs
• Home
• Ambulatory Care

Based on end-users, the hospital's segment is estimated to account for the largest share. These three segments are projected to grow at the highest CAGR during the forecast period.

Hemodynamic Monitoring Systems Market – By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Geographically, The hemodynamic monitoring systems market in North America was the biggest regional globally in 2022. The market was estimated at USD 330.97 Million in 2020; and is projected to reach USD 411.99 Million by 2025, growing at a CAGR of 4.48% from 2020 to 2025. The rise in the aging population suffering from chronic diseases in North America contributes to market growth. In addition, the increase in acceptance of Hemodynamic Monitoring Systems in ICUs and casualty rooms is boosting the market. The US and Canada are the major market contributors in North America. Advancements in technology towards monitoring systems are another notable factor helping the market's growth rate hike further. In 2016, Cheetah Medical Inc. got FDA approval for Starling SV, a non-invasive hemodynamic monitoring system. The presence of key players is fueling the North American Hemodynamic Monitoring Systems Market.

The hemodynamic monitoring systems market in Europe is the second-largest market in terms of market share. Europe was valued at USD 269.81 Million in 2020. It is projected to reach USD 331.93 Million at a CAGR of 4.23% by 2025. The European Heart Health Charter awareness programs helped the market grow. The UK market is anticipated to lead the European market during the forecast period. Germany accounted for the second-largest share of the European market in 2019. The increased aging population diagnosed with various diseases put the European Hemodynamic Monitoring Systems Market second.

The Hemodynamic Monitoring Systems Market in the Asia-Pacific region is projected to grow at the highest CAGR, which is significant due to cardiovascular diseases and the increasing geriatric population. With their economic growth, Brazil, India, and China are the most potential markets.

The Hemodynamic Monitoring Systems Market in Latin America was worth USD 108.12 Million in 2021. It is further projected to reach USD 139.98 Million by 2026, growing at a CAGR of 5.3% from 2021 to 2026.

The hemodynamic monitoring systems market in the Middle East and Africa is mainly driven due to technological advancements, growth in the number of people suffering from hypertension, the growing diabetes population, and rapid growth in the aging population.

KEY MARKET PARTICIPANTS:

Companies leading the global hemodynamic monitoring systems market profiled in the report are Edwards Lifesciences Corporation, PULSION Medical Systems SE, LiDCO Group plc., Cheetah Medical Inc., Deltex Medical Group plc., Hemo Sapiens, Inc., ICU Medical, Inc., Osypka Medical GmbH, Schwarzer Cardiotek GmbH, and Tensys Medical, Inc.

RECENT MARKET DEVELOPMENTS:

• Philips, a renowned healthcare technology company, has announced integrating its Interventional Hemodynamic System with its IntelliVue X3 Portable Patient Monitor. The portable monitor will be able to track vital signs throughout a patient's travel due to this. The connection also makes it easier to keep track of data for specific patients.
• Masimo has acquired LiDCO Group, a leading provider of hemodynamic monitoring systems. This deal was finalized in February 2021. Masimo's goal with this purchase is to broaden its hemodynamic range while increasing sales and profitability.
• In October 2020, Getinge created the revolutionary hemodynamic monitoring device NICCI, which offers continuous and non-invasive hemodynamic information. In patients with low blood pressure, the device helps to reduce the risk of severe consequences. Continuous, non-invasive blood pressure monitoring can minimize the risk of hypotension, and the product has already been awarded the Red Dot Award 2020 for its design.
• Acumen Hypotension Prediction Index (HPI) software was introduced in the United States by Edwards Lifesciences in March 2018.
• LiDCO Group and Spacelabs Healthcare SAS signed an agreement in February 2018 to market LiDCO products in France.
• Deltex's Oesophageal Doppler Monitoring (ODM) device was installed at The University Teaching Hospital (US) in January 2018.