Increasing geriatric population, rising prevalence of cardiovascular disorders, and growing number of surgeries performed across the globe are some key factors expected to drive 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 revenue CAGR of 6.1% during the forecast period, 2021-2028.
The measurement of the patient’s circulatory state is known as hemodynamic monitoring. Heart rate, pulmonary artery, intra-arterial pressure, pulmonary capillary wedge pressures, cardiac output, central venous pressure, and blood volume are among the parameters measured. Hemodynamic monitoring detects abnormal physiology and intervene before serious problems, such as organ failure and death, arise, thereby improving patient outcomes. This has been boosting demand for hemodynamic monitoring devices and is expected to drive market revenue growth during the forecast period.
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Further, digitalization of hospital systems and integration of monitoring devices with computers is becoming increasingly popular in hospitals and healthcare clinics. Critical care unit employees can view numerous parameters of patients using a single machine with the help of integrated systems. This simplifies the procedure for healthcare employees and decreases risk of errors. In addition, increasing government and private investments in monitoring devices to improve healthcare efficiency are some major factors expected to drive market growth over the forecast period.
However, high cost of monitoring devices, inappropriate treatment, lack of regulations and limited awareness regarding these devices can hamper market growth to a certain extent over the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Minimally Invasive Hemodynamic Monitoring Systems Segment Revenue to Expand at a Rapid CAGR:
Minimally invasive hemodynamic monitoring systems segment is expected to register a rapid revenue CAGR over the forecast period. Patients generally prefer minimally invasive hemodynamic monitoring devices because they lower the danger of internal infections and are more patient-friendly. Minimally invasive cardiac output monitors save time and provide crucial information about a patient’s cardiovascular state in the emergency department. Further these devices reduces treatment expenses, staffing costs, and hospital stay.
Monitors Settings Segment to Register Significant Revenue Growth:
Monitors segment is expected to register significant revenue growth over the forecast period due to Increased financing by government agencies for enhancing patient-centered treatment, safety, and efficiency; and increasing technological advancements in hemodynamic monitors systems.
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North America to Account for Largest Revenue Share:
North America is expected to account for largest revenue share in the global market over the forecast period due to rapid use of modern technologies like as robotics and machine learning (ML) in surgical operations, increasing awareness regarding regular health checkups, and increased investment in AI-based solutions to improve healthcare efficiency. Further, rising cases of diabetes and low blood pressure and presence of key players in the countries in the region are also expected to contribute to market growth in the region.
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
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 Billion; 2018–2028)
Type Outlook (Revenue, USD Billion; 2018–2028)
- Minimally Invasive Hemodynamic Monitoring Systems
- Invasive Hemodynamic Monitoring Systems
- Noninvasive Hemodynamic Monitoring Systems
End Use Outlook (Revenue, USD Billion; 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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