Hemodynamic Monitoring Systems Market to Rise at a CAGR of 5.8% during the Forecast Period 2022-2031, notes TMR Study

Posted on 2024-03-29 by Transparency Market Research in Healthcare // 0 Comments

Wilmington, Delaware, United States, 2024-Mar-29 — /EPR Network/ — Transparency Market Research Inc. –

In 2021, the hemodynamic monitoring market attained a valuation of US$ 1.2 billion. Projections suggest a steady growth trajectory with a compound annual growth rate (CAGR) of 5.8% from 2022 to 2031. By the conclusion of 2031, it is anticipated to surpass US$ 2.2 billion in value.

Analysts highlight several factors propelling the global hemodynamic monitoring systems market. These include heightened demand for advanced monitoring systems, the escalating prevalence of chronic diseases, an aging population, increased healthcare expenditure, and heightened awareness regarding the advantages associated with hemodynamic monitoring.

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Hemodynamic monitoring systems represent crucial medical apparatuses utilized for the measurement and observation of various physiological parameters associated with the circulatory system, encompassing metrics like blood pressure, heart rate, and blood flow. These systems encompass both invasive and non-invasive methodologies and find applications across diverse healthcare settings, spanning from inpatient facilities to outpatient clinics. Widely utilized across critical care, anesthesia, cardiac surgeries, pregnancy, and management of chronic diseases, hemodynamic monitoring systems play a pivotal role in ensuring patient well-being and treatment efficacy.

The global hemodynamic monitoring market experiences impetus from several factors, including the escalating incidence of chronic ailments, the demographic shift towards an aging population, and ongoing advancements in monitoring device technologies. With a heightened understanding of the advantages of hemodynamic monitoring in both prevention and management of chronic conditions, there’s a projected surge in market growth. This surge is attributed to the rising awareness among healthcare professionals and patients alike about the pivotal role of hemodynamic monitoring in enhancing patient outcomes and quality of care delivery.

Rise in Prevalence of Chronic Diseases

The surge in chronic diseases like cardiovascular disease, hypertension, and diabetes is fueling demand for hemodynamic monitoring systems, vital for monitoring and managing these conditions. According to the World Health Organization’s Global Burden Disease Study 2019, approximately 41 million individuals die from chronic diseases annually, constituting 74% of global deaths. Among these, cardiovascular diseases alone contribute to around 18 million deaths, while chronic respiratory diseases lead to nearly 4 million deaths yearly.

The escalating utilization of hemodynamic monitoring for chronic diseases is propelling market growth. These systems enable continuous monitoring of a patient’s cardiovascular status, offering invaluable insights for the management of conditions like heart failure and sepsis.

Key Players:

Koninklijke Philips N.V., ICU Medical, Medtronic, GE HealthCare, Edwards Lifesciences Corporation, Baxter, Biocare Medical, LLC., Uscom, NOGA MEDICAL, Comen, Creative Industry, Dräger, EMTEL Śliwa sp.k., General Meditech, Masimo, Mars Medical Products, UTAS Co., and Vytech.

Segmentation:-

Product
- Monitors
- Consumables
  - Pressure Tubing
  - Flush Device
  - Transducers
  - Others

Technique Type
- Invasive
- Non-invasive

End-user
- Hospitals
- Cath Labs
- Others

Market Drivers and Challenges:

Key drivers propelling market growth include:

Technological advancements leading to more accurate and user-friendly monitoring devices.
Increasing prevalence of cardiovascular diseases globally.
Growing demand for minimally invasive procedures.
Rising adoption of hemodynamic monitoring systems in critical care settings.

However, challenges such as high costs associated with advanced monitoring systems, concerns regarding data privacy and security, and the shortage of skilled healthcare professionals may hinder market growth to some extent.

Market Trends:

Some notable trends shaping the hemodynamic monitoring systems market include:

Integration of wireless technology for remote monitoring and data transmission.
Development of wearable monitoring devices for continuous patient assessment.
Emphasis on data analytics and predictive algorithms for early detection of cardiovascular abnormalities.
Increasing focus on telemedicine and remote patient monitoring solutions.

Key Developments in Global Hemodynamic Monitoring Systems Market

In January 2022, ICU Medical, a California-based medical technologies manufacturing company, announced the acquisition of Smiths Medical, a division of Smiths Group plc. The acquisition could benefit the company by allowing it to expand its product portfolio and customer base. Smiths Medical is a leading provider of medical devices and equipment, and the acquisition could give ICU Medical access to its technology and expertise.
In February 2021, Masimo completed the acquisition of Lidco. The company acquired the entire stock of Lidco, a provider of innovative hemodynamic monitoring technology. Lidco manufactures equipment for measuring stroke volume, cardiac output, and systematic vascular resistance. It also includes blood testing, intravenous fluid testing, and vasoactive support.

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Regions Covered:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

Key Market Study Points:

In-depth market research should focus on:

Market dynamics, including drivers, restraints, opportunities, and challenges.
Competitive landscape analysis, identifying key players and their strategies.
Regional market trends and growth prospects.
Technological innovations and their impact on market growth.
Regulatory landscape and compliance requirements.
Customer preferences and demand patterns.

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About Transparency Market Research

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Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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