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Press Release: Hemodynamic Monitoring System Market to Surpass US$ 10,846.3 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Hemodynamic monitoring system is used to measure the blood pressure inside the veins, heart, and arteries. It also monitors health of the heart and measures blood flow and amount of oxygen in the blood.
The global hemodynamic monitoring system market is estimated to account for US$ 10,846.3 Mn in terms of value by the end of 2027.
Global Hemodynamic Monitoring System Market: Drivers
Increasing prevalence of cardiovascular diseases is expected to propel growth of the global hemodynamic monitoring system market over the forecast period. For instance, according to American Heart Association’s Heart Disease and Stroke Statistics 2018, around 92.1 million adults in the U.S. are suffering from some form of CVD or the after-effects of stroke.
Moreover, increasing incidence of asthma and chronic obstructive pulmonary disease (COPD) is also expected to aid in growth of the market. For instance, according to a report by Global Initiative for Chronic Obstruction Disease’s 2018 report, COPD is expected to result in 4.5 million global deaths annually by 2030.
North America region held dominant position in the global hemodynamic monitoring system market in 2018, accounting for 34.8% share in terms of value, followed by Europe.
Figure 1. Global Hemodynamic Monitoring System Market Value (US$ Mn), by Region, 2018
Global Hemodynamic Monitoring System Market: Restraints
However, lengthy regulatory validation process for new suppliers is expected to hinder growth of the global hemodynamic monitoring system market. New suppliers need to adhere to regulations, which is time consuming and may lead to high expenses that are associated with the regulatory validation process.
Moreover, stringent regulations for medical devices put forward by regulatory bodies such as the U.S. Food and Drug Administration (FDA) are also expected to hamper growth of the market.
Global Hemodynamic Monitoring System Market: Opportunities
Increasing geriatric population is expected to offer lucrative growth opportunities for players in the global hemodynamic monitoring system market. For instance, according to the World Health Organization, geriatric population is expected to reach 2 billion by 2050, up from 900 million in 2015.
Increasing preference for wireless technology in pulse oximeters is also expected to boost growth of the market. For instance, Zensorium’s Tinke and Masimo’s iSpO2 are iPhone-enabled pulse oximeters.
Vital Sign Monitors segment in the global hemodynamic monitoring system market was valued at US$ 1,899.7 Mn in 2018 and is expected to reach US$ 2,522.5 Mn by 2027 at a CAGR of 9.9%% during the forecast period.
Market Trends/Key Takeaways
The market is witnessing use of less invasive hemodynamic monitoring systems attributed to increasing concerns regarding usage of invasive techniques, particularly pulmonary artery catheter for measuring cardiac output. Less invasive monitoring systems offer numerous benefits such as smaller incision, quicker recovery, less blood loss, and less scarring.
Key players in developed market are increasingly adopting direct selling approach to enhance their customer base. For instance, Edwards Lifesciences Corporation sells a majority of products through direct sales.
Global Hemodynamic Monitoring System Market: Competitive Landscape
Major players operating in the global hemodynamic monitoring system market include, Edwards Lifesciences Corporation, ICU Medical, Inc., PULSION Medical Systems SE, Koninklijke Philips N.V., General Electric Company, OMRON Corporation, B. Braun Melsungen AG, LIDCO Ltd., Medtronic, Inc., Drägerwerk AG & Co. KGaA, Nihon Kohden Corporation, Schwarzer Cardiotek GmbH , Osypka Medical GmbH, and Tensys Medical Inc.
Global Hemodynamic Monitoring System Market: Key Developments
Key players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in April 2019, Edwards Lifesciences Corporation acquired CAS Medical Systems, Inc., a medical technology company focused on non-invasive brain and tissue oxygenation monitoring.
Key players in the market are also focused on product development and launch to expand their product portfolio. For instance, in December 2019, Nihon Kohden Corporation launched its Life Scope SVM-7200 Series vital signs monitor, a monitor designed for outpatient facilities and beds, to quickly and easily measure three vital signs – blood oxygen, blood pressure and temperature.
Hemodynamic Monitoring is the continuous monitoring of the blood flow through the veins, arteries, and heart using hemodynamic systems. There are three types of techniques utilized for blood flow monitoring such as invasive, non-invasive, and minimally invasive. Increasing product approvals is anticipated to assist the growth of the hemodynamic monitoring systems during the forecast period. For instance, in 2016, Siemens Healthineers introduced an advanced version of Sensis hemodynamic system for hemodynamic monitoring during interventional cardiology and electrophysiology.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 42 market data tables and 44 figures on “Hemodynamic Monitoring Systems Market - Global forecast to 2027”.
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