Market- Overview
The Global Hemodynamic Monitoring Systems Market is estimated to reach a CAGR of 4.84% during the forecast period (2022-2029).
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.
Market Dynamics
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 prevalance 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.
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Market Segmentation
By Technology
- Disposables
- Monitors
By Type
- Invasive
- Minimally Invasive
- Non-Invasive
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 for 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.
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