PUBLISHER: The Business Research Company | PRODUCT CODE: 1426353
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426353
Hemodynamic monitoring systems encompass medical devices and techniques designed for the measurement and assessment of physiological parameters associated with the cardiovascular system's functioning. These systems play a crucial role in providing real-time data and insights into key aspects of blood circulation, cardiac output, and other vital parameters within the circulatory system.
The primary product categories within hemodynamic monitoring systems include monitors and consumables. Monitors in this context refer to electronic devices and equipment utilized to display and record physiological parameters related to a patient's cardiovascular system. The techniques employed can be classified into invasive and non-invasive methods, each serving specific purposes in monitoring cardiovascular health. These hemodynamic monitoring systems find application across various end-users, including hospitals, cath labs, and other medical settings where continuous and accurate assessment of cardiovascular parameters is essential for patient care.
The hemodynamic monitoring systems market research report is one of a series of new reports from The Business Research Company that provides hemodynamic monitoring systems market statistics, including hemodynamic monitoring systems industry global market size, regional shares, competitors with a hemodynamic monitoring systems market share, detailed hemodynamic monitoring systems market segments, market trends, and opportunities, and any further data you may need to thrive in the hemodynamic monitoring systems industry. This hemodynamic monitoring systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The hemodynamic monitoring systems market size has grown strongly in recent years. It will grow from $1.45 billion in 2023 to $1.57 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth observed during the historic period in the field of hemodynamic monitoring systems can be attributed to several key factors. These include the increasing prevalence of cardiovascular diseases, a growing aging population with associated chronic conditions, the rising number of surgical procedures and utilization in intensive care units (ICUs), a clinical emphasis on patient safety, and advancements in healthcare infrastructure. These factors collectively contributed to the expansion and adoption of hemodynamic monitoring systems during the historical period.
The hemodynamic monitoring systems market size is expected to see strong growth in the next few years. It will grow to $2.06 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The anticipated growth in the forecast period for hemodynamic monitoring systems can be attributed to several key drivers. These include a shift towards minimally invasive procedures, the integration of hemodynamic monitoring systems with electronic health records (EHRs), the adoption of remote patient monitoring solutions, a heightened focus on early detection and intervention in cardiovascular health, and the global health challenges and critical care needs that drive the demand for such monitoring systems. Major trends expected in the forecast period include the application of artificial intelligence (AI) and machine learning (ML) in hemodynamic monitoring, the integration of remote monitoring and telehealth solutions, the expansion of hemodynamic monitoring applications in critical care settings, collaborative efforts for technological advancements, and an increased emphasis on ensuring data security and patient privacy in the utilization of these monitoring systems. These trends collectively contribute to the anticipated growth and advancements in hemodynamic monitoring systems in the coming period.
The hemodynamic monitoring systems market is anticipated to experience significant growth due to the increasing prevalence of cardiovascular diseases. Cardiovascular diseases encompass a range of conditions affecting the heart and blood vessels, leading to severe health implications. Hemodynamic monitoring systems offer real-time data and insights into a patient's cardiovascular condition, empowering healthcare professionals to administer timely interventions, optimize treatment approaches, and enhance patient outcomes. For example, statistics from the Centers for Disease Control and Prevention (CDC) in May 2023 highlighted that heart disease accounted for more than 659,000 fatalities in the United States in 2021, constituting one out of every four deaths. This surge in cardiovascular diseases is poised to fuel the expansion of the hemodynamic monitoring systems market.
The increasing prevalence of respiratory diseases is also expected to drive the growth of the hemodynamic monitoring systems market. Respiratory diseases encompass various medical conditions affecting the respiratory system, impacting breathing and overall lung function. Hemodynamic monitoring systems play a vital role in managing respiratory diseases by providing critical real-time cardiovascular status data for healthcare providers. For instance, data from the Australian Institute of Health and Welfare in June 2023 revealed that nearly 7.5 million Australians, equivalent to approximately 30% of the population, are grappling with chronic respiratory diseases. This escalating prevalence of respiratory conditions contributes significantly to the expansion of the hemodynamic monitoring systems market.
The growth of the hemodynamic monitoring systems market is anticipated to face limitations due to the high costs associated with these systems. The complexity of hemodynamic monitoring systems results in their considerable expense, stemming from the need for specialized components and manufacturing processes. Additionally, the requirement for costly routine assessments of hemodynamic parameters, particularly in cases of heart-related issues, contributes to the restricted adoption of these monitoring systems. For example, data from The American Association for Thoracic Surgery (AATS) in January 2022 revealed that the standalone cost for a hemodynamic monitoring systems device ranges between $18,000 and $20,000, accompanied by setup charges of $290 and a daily service cost of $5. These high expenses act as a hindrance to the widespread adoption and growth of the hemodynamic monitoring systems market.
Leading companies operating in the hemodynamic monitoring systems market are focusing on driving market revenues by introducing innovative products such as the Intellivue X3, which integrates interventional hemodynamic monitoring systems. The Intellivue X3 is an advanced, integrated monitoring system designed for use in cardiac catheterization laboratories and interventional cardiology procedures. It provides comprehensive monitoring and support during minimally invasive interventions. For instance, Koninklijke Philips N.V., a health technology company based in the Netherlands, integrated its interventional hemodynamic system with the portable patient monitor Intellivue X3 in May 2021. This integration aims to enhance workflow efficiency and patient-centric care during image-guided procedures. The combined system ensures continuous monitoring of critical vital signs throughout the patient's procedure, aiding clinical decision-making and maintaining comprehensive patient records. Notably, the Intellivue X3 patient monitor remains connected to the patient throughout the interventional process, offering the latest physiological techniques, including iFR measurements, a hyperemia-free, unique technique, thereby advancing the capabilities of hemodynamic monitoring during procedures.
In February 2021, Masimo Corporation, a prominent US-based medical technology company, completed the acquisition of LiDCO Group Plc. The financial details of the transaction were not disclosed. This strategic move enabled Masimo Corporation to broaden its product portfolio, specifically in the field of hemodynamic monitoring. LiDCO Group Plc, a medical equipment manufacturing company based in the UK, specializes in providing non-invasive and minimally invasive hemodynamic monitoring equipment.
Major companies operating in the hemodynamic monitoring systems market report are Abbott Laboratories, Medtronic Plc., Siemens Healthineers AG, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Baxter International Inc., CNSystems Medizintechnik GmbH, Edwards Lifesciences Corporation, Dragerwerk AG & Co. KGaA, Getinge AB, Vitech Systems Group Inc., ICU Medical Inc., Masimo Corporation, N.I. Medical Ltd., Nihon Kohden Corporation, Deltex Medical Group plc, Shenzhen Keman Medical Equipment Co. Ltd., Schwarzer Cardiotek GmbH, CareTaker Medical, Biocare Medical LLC, Osypka Medical GmbH, Cnoga Digital Care, Tensys Medical Inc., EMTEL Sliwa sp. k., Uscom Limited
North America was the largest region in the hemodynamic monitoring systems market in 2023. The regions covered in the hemodynamic monitoring systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the hemodynamic monitoring systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The hemodynamic monitoring systems market consists of sales of central venous pressure (CVP) monitoring systems, pulmonary artery catheters, and accessories. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Hemodynamic Monitoring Systems Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hemodynamic monitoring systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hemodynamic monitoring systems? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hemodynamic monitoring systems market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.