CAGR: 6.5%Current Market Size: USD 900 MillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global hemodynamic monitoring system market is expected to grow from USD 900 million in 2022 to USD 1,489 million by 2030, at a CAGR of 6.5% during the Projection period 2023-2030. The growth of the hemodynamic monitoring system market is mainly driven by the rise in cardiopulmonary disorders among people.
The technique of assessing the blood flow and pressure put on the heart, veins, and arteries is known as hemodynamic monitoring. It allows for the evaluation and optimization of oxygen supply and hemodynamic parameters, which aids in the diagnosis and treatment of a variety of cardiopulmonary disorders and enhances outcomes in critically ill patients. Hemodynamic monitoring has developed throughout time from the simple cardiac output (CO) tracking to cutting-edge instruments that offer data on a variety of factors, including blood pressure, blood volume, and fluid balance. The number of persons who experience cardiac dysfunction has increased over time, which leads to hemodynamic instability and, ultimately, organ failure. As a result, hemodynamic monitoring is now much more in demand all around the world. In accordance with this, the development of more advanced, uncalibrated, non-invasive CO measurements derived from the study of a non-invasive arterial pressure waveform is also boosting the market. Additionally, the usage of hemodynamic monitoring in the healthcare industry is expanding in order to better the outcomes for patients and prevent tissue hypoxia, shock, and multiorgan failure in critically ill patients. Significant research and development (R&D) activities are yet another important aspects that promotes growth. Manufacturers are working to create less complicated, less expensive, non-invasive hemodynamic monitoring systems that will provide more accurate data. In addition, rising healthcare costs in the public and private sectors and technology improvements are anticipated to have a beneficial impact on the industry in the years to come.
Sample Request: - Global Hemodynamic Monitoring System Market
Market Dynamics:
Drivers:
Over the course of the Projection period, key market players' adoption of inorganic strategies, such as product launches, is anticipated to propel the global hemodynamic monitoring systems market. For instance, the medical technology business Masimo's subsidiary LiDCo Group announced in May 2019 that LiDCO fast v3 had been released. A non-invasive hemodynamic monitoring device called LiDCO fast v3 is used to track cardiac output.
Restraints:
The main factor predicted to restrain the growth of the worldwide hemodynamic monitoring systems market is the rising number of product recalls by regulatory agencies including the U.S. Food and Drug Administration. For instance, in January 2021, the U.S. Food and Drug Administration recalled the class 2 product acute hemodynamic monitoring system, which ICU Medical, Inc., a medical device manufacturer, produced. Due to a possible software flaw, the product was recalled because the display displayed inaccurate continuous cardiac output (CCO) numbers after calibrating the pulse oximeter.
Opportunities:
Digital hemodynamic monitoring and routine assessments used in the management of cardiovascular disease have also given people more power to influence how their illnesses are treated. In cases of challenging care and maintenance of neonatal circulatory homeostasis due to the complicated physiology throughout the postnatal transition, a clinical assessment of the circulatory system is helpful. Hemodynamic monitoring and routine evaluation utilized in treatment planning have demonstrated doctors' capacity to start thorough therapy. This has been the primary factor influencing the market as a result of the parameter being set using data from hemodynamic monitoring systems.
Challenges:
However, hazards related to invasive hemodynamic monitoring and increased pricing pressure on market participants are anticipated to restrain market expansion. The hemodynamic monitoring systems market is expected to face challenges in the next years due to a shortage of experienced workers and low patient knowledge of disease diagnosis.
Segmentation Analysis:
The global hemodynamic monitoring system market has been segmented based on system, end-user and region.
By System
The system segment is invasive monitoring systems, minimally invasive monitoring systems, and non-invasive monitoring systems. The non-invasive monitoring systems segment led the largest share of the hemodynamic monitoring system market with a market share of around 39% in 2022. The development of less invasive systems is to blame for this. Moving from static to dynamic variables in monitoring and assessing parameters like cardiac preload and fluid responsiveness, as well as switching to minimally invasive hemodynamic monitoring techniques, are recent trends in perioperative settings. This is a result of dangers related to operational setting problems, such as perforation and infection. Reduced recovery times, prevention of infections and problems, relief from intrusive catheters, and accurate assessment of hemodynamic conditioning are benefits of these monitoring systems that propel this market ahead. For the alleviation of direct measurements of cardiac output and the variables obtained from it through cannulation of arterial vessels, the novel hemodynamic monitoring devices have been designed.
By End-User
The end-user segment is catheterization laboratories, hospitals, and others. The hospitals segment led the largest share of the hemodynamic monitoring system market with a market share of around 46% in 2022. This system's dominance is due to the fact that the hospital's cardiology department finds the most use for it. It is possible to monitor patients after or before surgery to ascertain whether the procedure was successful or whether the patient actually needs surgery. These reasons account for the hospital pharmacy segment's larger market share globally.
Global Hemodynamic Monitoring System Market - Sales Analysis.
The sale of the hemodynamic monitoring system market expanded at a CAGR of 4% from 2016 to 2022.
Comprehensive cardiac output monitoring is necessary for comprehensive patient care. Hemodynamic stability must be accurately portrayed in perioperative settings, and hemodynamic monitoring tools are essential when hemodynamic variables are not being employed at their optimal levels. Although their invasiveness has been associated to a rise in morbidity and cases of organ failure due to tissue hypoxia, which can result in cases of fatality, pulmonary artery catheters are routinely utilised in cases of heart failure. Remotely observing elements associated with a patient's hemodynamic activity is now possible because to the introduction of advanced hemodynamic monitors and hemodynamic monitoring implants in patient care.
For instance, Getinge introduced a virtual hospital in March 2021 to imitate a cutting-edge hospital setting online and stop touch-based infections. Technological developments in hemodynamic monitoring systems are driving the demand for these systems. Modern, minimally invasive, or non-invasive hemodynamic monitoring technology is increasingly being sold in the homecare and clinic sectors. In-home stroke volume monitoring using minimally invasive hemodynamic monitoring systems, dynamic hemodynamic information, and fluid responsiveness is often beneficial for patients in home care settings. Advanced hemodynamic monitoring devices are used to evaluate volumetric preload parameters as well. Additionally, certain hemodynamic monitoring systems use distinguishing characteristics to measure the continuous volume of central venous saturation with conventional catheters.
Thus, owing to the aforementioned factors, the global hemodynamic monitoring system market is expected to grow at a CAGR of 6.5% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the hemodynamic monitoring system market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region dominated the hemodynamic monitoring system market and held a 40% share of the market revenue in 2022.
Global Hemodynamic Monitoring System Market - Country Analysis:
Germany's hemodynamic monitoring system market size was valued at USD 75.6 million in 2022 and is expected to reach USD 95.0 million by 2030, at a CAGR of 2.9% from 2023 to 2030. The aging population is growing, and more procedures are being conducted globally, which is expected to fuel market expansion in the region. In the upcoming years, firms competing in the global market may benefit financially from increased investment in research and development activities to produce better hemodynamic monitoring equipment.
China’s hemodynamic monitoring system market size was valued at USD 14.3 million in 2022 and is expected to reach USD 20.0 million by 2030, at a CAGR of 4.2% from 2023 to 2030. Both China's aging population and the rise in the number of persons with chronic illnesses who require ongoing medical care are factors in the country's escalating health issues. According to a November 2022 article in The Lancet, 254 million people in China were 60 years of age or older in 2019. This figure is projected to rise to 402 million by 2040, or about 28 percent of the population. A heightened risk of ailments including cardiovascular diseases, neurological diseases, etc. constantly exists among this aging geriatric population. By expanding the usage of these devices to allay the looming concern of cardiovascular problems, China will become one of the attractive markets.
India's hemodynamic monitoring system market size was valued at USD 11.9 million in 2022 and is expected to reach USD 15.6 million by 2030, at a CAGR of 3.5% from 2023 to 2030. According to the Global Burden of Disease Study, cardiovascular illnesses are responsible for about one-fourth (24.8%) of fatalities in India. Cardiovascular disease was shown to be the leading cause of death (MCCD) in an examination of medical information. It increased from 20% in 1990 to 27.1% in 2004. Overall, this increase in CVD complications will be a significant economic driver in the nation. The increased regional investments in pharmaceutical R&D are increasing the market's potential for growth in the years to come.
Key Industry Players Analysis:
To increase their market position in the global hemodynamic monitoring system market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
6.5% |
Market Size |
900 million in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By System, By End-User, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Edwards Lifesciences (US), Lidco Group (UK), PULSION Medical Systems SE (Germany), Deltex Medical Group (UK), Cheetah Medical Inc. (US), ICU Medical, Inc. (US), Hemo Sapiens Inc. (US), Schwarzer Cardiotek GmbH (Germany), Osypka Medical GmbH (Germany), and Tensys Medical Inc. (US). |
By System |
|
By End-User |
|
Regional scope |
|
Scope of the Report
Global Hemodynamic Monitoring System Market By System:
Global Hemodynamic Monitoring System Market By End-User:
Global Hemodynamic Monitoring System Market By Region:
Global hemodynamic monitoring system market size will be USD 1,489 million by 2030.
The hemodynamic monitoring system market is projected to have a CAGR of 6.5%.
Hemodynamic monitoring systems and telemonitoring are expected to lower the risk of heart failure hospitalizations, according to a systematic review and meta-analysis published in the Journal of Geriatric Cardiology. Hemodynamic monitoring is used to identify changes in heart and lung pressures a few weeks before symptoms deteriorate.
Leading market players active in the global hemodynamic monitoring system market are Deltex Medical, Philips Medical, Edward Lifesciences, Hemo Sapiens, Inc., GE Healthcare, OsypkaCardiotek GmbH, LiDCO, and Drager Medical GmbH. among other
Based on the end-user, the global hemodynamic monitoring system market has been segmented into catheterization laboratories, hospitals, and others.
Political Factors- The complaints by pressure groups, social and environmental activists, and labor unions should be carefully examined by the hemodynamic monitoring system market because they have a significant influence on how policies are made. Close cooperation with these organizations may improve hemodynamic monitoring system market' capacity for community engagement and the accomplishment of long-term business objectives. Additionally, a well-developed governance structure and a democratic political climate improve the business climate for markets like hemodynamic monitoring system market.
Economic Factors- Organizational performance is directly impacted by a nation's economic development. Growing economies present a hemodynamic monitoring system market with numerous prospects for expansion. In a similar vein, it's critical to comprehend the stage of the industrial lifecycle. Due to market saturation, entering mature sectors might be more difficult than entering businesses in the growth stage. Additionally, the amount of money invested on key infrastructure development by the government of the host country has an impact on the hemodynamic monitoring system market's financial performance. The business climate is made easier by a well-developed infrastructure, which also boosts the gold industry's growth potential in the respective nation.
Social factors- For markets like the hemodynamic monitoring system market, changes in demographic trends including population aging, migration patterns, and socioeconomic factors are of utmost relevance. The proper market segment or segments with significant growth potential can be selected by the hemodynamic monitoring system market by carefully examining the demographic parameters. Migration has an impact on business and marketing strategy as well. Understanding the overall attitude of the populace toward migration is crucial for the hemodynamic monitoring system market since it might affect the ability of businesses to hire foreign management in the host nation.
Technological Factors- To comprehend how new technologies affect the firm's value chain and current cost structure, the hemodynamic monitoring system market must take into account the investments made by rivals on a local and macro level. In a setting where creative disruption is prevalent, research and development efforts are crucial. hemodynamic monitoring system market should make investments in disruptive technologies in this climate to maximize earnings and reinvest those profits in disruptive technologies in the future.
Environmental Factors- The use of green/eco-friendly items is becoming more popular. hemodynamic monitoring system market can seize the chance and implement green business strategies to gain the confidence of stakeholders. Priorities for product innovation are changing as a result of regulatory organizations' emphasis on ensuring conformity with environmental standards. hemodynamic monitoring system market must put environmental friendliness ahead of traditional value propositions in their marketing strategy. hemodynamic monitoring system market may face criticism from the media, environmental organizations, customers, and the general public if it consistently depletes its resources. In order to determine which resources (such as water, power, etc.) are rare or which species are threatened with extinction due to overuse, the hemodynamic monitoring system market must research the country's specific environmental rules.
Legal Factors- Certain nations have severe requirements to protect labour safety, so the hemodynamic monitoring system market must abide by the employee/labor health and safety standards. The ethical and moral responsibility of the hemodynamic monitoring system market is to provide a safe working environment for its employees. Similarly, anti-discrimination laws (such as equal employment opportunity laws) also need to be carefully considered when developing human resource practices as discriminatory lawsuits against employers harm the organizational image and affect organizations' capacity to attract and retain talent.
List of Table
List of Figures