Hemodynamic Monitoring Systems Market worth $ 1,167.4 million by 2023

Hemodynamic Monitoring Systems Market

Factors such as technological advancements in hemodynamic monitoring systems, increasing research into hemodynamic monitoring systems, influx of VC funding, rising prevalence of cardiovascular diseases & diabetes, rising geriatric population & growing number of surgeries, awareness initiatives by industry players, and government focus on critical care infrastructure & services are driving the growth of the hemodynamic monitoring systems market. In addition, growing demand for patient monitoring devices in non-hospital settings and the emerging economies (such as China, India, Brazil, and Mexico) are expected to offer lucrative growth opportunities for market players in the hemodynamic monitoring systems market. However, a risk associated with invasive hemodynamic monitoring, such as sepsis, bleeding, hemorrhage, thrombosis, air embolism, and pulmonary capillary necrosis is expected to restrain the growth of this market. Moreover, increasing pricing pressure on market players, limited patient awareness related to disease diagnosis, and dearth of skilled professionals are adversely impacting the growth of the market. 
The global hemodynamic monitoring systems market is expected to reach USD 1,167.4 million by 2023 from an estimated USD 857.8 million in 2018, at a CAGR of 6.4%. 

Hemodynamic Monitoring Systems Market

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Market Dynamics

  1. Market Drivers
  2. Market Restraints
  3. Market Opportunity
  4. Market Challenges

Driver: Technological advancements in hemodynamic monitoring systems 
Recent years have witnessed a growing preference for noninvasive technologies from traditionally accepted invasive techniques. 

Noninvasive hemodynamic monitoring systems facilitate painless diagnosis and reduce the risk of blood-borne infections in patients. In addition, these systems are easier to use (as compared to invasive systems) and can be operated by a nurse in the absence of a specialist/doctor. Owing to this advantage, the hemodynamic state can be simultaneously monitored in numerous patients, which results in a reduction in staff costs as well as treatment expenses. These advantages are expected to increase the market for noninvasive systems in the coming years. 

Noninvasive hemodynamic monitoring involves the continuous measurement of blood pressure using finger cuffs and the measurement of cardiac output using the pulse contour method for the critically ill patients. Caretaker Medical’s Caretaker 4, for example, uses a finger cuff to measure continuous beat-by-beat blood pressure (“cNIBP”), heart rate, and other physiological parameters. 

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Opportunity: Emerging markets 

Emerging markets will offer potential growth opportunities for global players operating in the hemodynamic monitoring systems market in the coming years, mainly due to the increasing patient population across these countries, rising adoption of patient monitoring devices, growing awareness regarding cardiovascular diseases, and improving healthcare infrastructure. Moreover, emerging countries have registered a sustained increase in surgical procedures during the past decade, driven by the growing target patient population, a growing number of CVD-related deaths, and rising medical tourism. 

By geography, Asia Pacific (APAC) to register the highest CAGR in the forecast period 

The APAC region comprising Japan, China, India, and Rest of Asia Pacific offers high-growth opportunities for players in the hemodynamic monitoring systems market. Some of the factors driving market growth in the APAC region are Japan’s growing healthcare industry; extensive government reimbursement coverage for critical cardiac procedures; improving healthcare infrastructure in India and China; high diabetes prevalence in Vietnam, Singapore, Malaysia, China, and India; and government initiatives in Australia and Singapore. 

Increasing penetration in the high-growth Asia Pacific market will prove to be an effective growth strategy for companies focusing on increasing their shares in the global hemodynamic monitoring systems market. 

Hemodynamic Monitoring Market

Key Market Players 

Edwards Lifesciences (US), PULSION Medical Systems SE (Germany), LiDCO Group (UK), Deltex Medical (UK), ICU Medical (US), CNSYSTEMS MEDIZINTECHNIK GMBH(Austria), CareTaker Medical (US), OSYPKA MEDICAL GMBH (Germany), Cheetah Medical (US), Uscom (Australia), NI Medical (Israel) 

Recent Developments 

  • In March 2018, Edwards Lifesciences launched Acumen Hypotension Prediction Index (HPI) software in the US.
  • In February 2018, LiDCO Group had an agreement with Spacelabs Healthcare SAS to distribute LiDCO products in France.
  • In January 2018, Koninklijke Philips launched IntelliVue X3.
  • In January 2018, The University Teaching Hospital (US) incorporated Deltex’s Oesophageal Doppler Monitoring (ODM) system.

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