Global Hemodynamics Monitoring Systems Market – Constant Eye on the Heart
Hemodynamics monitoring systems refer to the observation units that assists in measurement of pressure, flow, and oxygenation of blood within the cardiovascular system. Hemodynamic monitoring can detect small changes that determines the changes in heart functions early by testing samples of blood from deep inside the body. This type of monitoring is usually employed in critically ill patients that require continuous assessment of their cardiovascular systems to manage complex medical conditions. Moreover, hemodynamics monitoring is also used to evaluate the patient’s immediate responses to treatments such as mechanical support, cardiovascular surgeries, and drug delivery. These systems are used in cardiac catheterization lab or interventional labs for monitoring arterial blood pressure, central venous pressure, and other parameters of patients. These systems are linked to catheterization lab reporting systems, inventory management, and cardiovascular information system (CVIS) for gathering relevant data and presenting trends of the observations for improving clinical outcomes. Rising incidence of cardiovascular diseases is one of the major factors driving growth of the global hemodynamics monitoring systems market. For instance, according to World Health Organization (WHO), 17.5 million people die each year from CVDs. Low-income and middle-income economies account for over 75% of CVD deaths. Furthermore, heart attacks and strokes are responsible for 80% of all CVD deaths.
The global hemodynamics monitoring systems market is estimated to be valued at US$ 929.1 million in 2017 and is expected to witness a robust CAGR of 5.5% over the forecast period (2017 - 2025).
Figure 1. Global Hemodynamics Monitoring Systems Market Value (US$ Mn), by Region, 2017
Factors such as increasing aging population with a higher risk of developing chronic diseases, technological advancements in hemodynamic systems, and increasing prevalence of chronic diseases mainly CVDs are expected to drive growth of the hemodynamic monitoring systems market throughout the forecast period. According to Center for Disease Control and Prevention, in 2015, around 28.4 million people were diagnosed with heart diseases in the U.S. alone. This number is expected to rise in the near future, owing to changes in lifestyle and others. Demand for minimally invasive and non-invasive technologies that measure cardiac output, stroke volume, and other parameters such as oxygen concentration and others is expected to boost demand for these systems. In the recent past, hemodynamic monitoring has evolved significantly from invasiveness to minimum or no invasiveness and from intermittent to continuous and real-time measurements of hemodynamic variables. For instance, according to the National Center for Biotechnology Information 2016, preference for minimally invasive procedures and robotic assisted medical procedures has increased by 66% in 2013 as compared to that in the 2000. Non-invasive systems are increasingly been used in high-risk surgical patients. Continuous improvements in terms systems is expected to aid in growth of the segment. In June 2016, Cheetah Medical introduced Starling SV non-invasive hemodynamic system after receiving FDA clearance and CE marking that predicts IV fluids responsiveness, similar to other invasive modalities. However, risks associated with invasive hemodynamic monitoring, which is still practiced, are significantly greater and is expected to hinder the market growth.
North America was the dominant region in the global hemodynamics monitoring systems market in 2016. This is attributed to rapid development of innovative products that help in conducting hemodynamic monitoring effectively. For instance, in February 2018, Getinge—a leading global provider of innovative medical technology—received FDA 510(k) clearance for PulsioFlex Monitoring System and PiCCO Module, which is used for hemodynamic management of critically ill patients. Moreover, rising incidence of cardiovascular diseases is also boosting growth of the market in the region. According to the American Heart Association, 2017, around 209,000 patients in the U.S. were admitted in the ICU suffering from cardiac arrest and their heart activity was consistently monitored.
Asia Pacific market is expected to witness growth over the forecast period, owing to increasing collaborations by companies in the region, in order to enhance their product offerings and market share. For instance, in 2015, LiDCO—a hemodynamic monitoring company—collaborated with Fieldman Medical to distribute the LiDCO products such as LiDCOrapid and LiDCOplus in the countries of Asia Pacific. The agreement is expected to create a lucrative opportunity for manufacturers to expand their hemodynamic monitoring solutions portfolio and provide efficient outcomes to patients during surgical procedures.
Market players are focusing on developing innovative products to maintain leading position in the global hemodynamics monitoring systems market
Key players are focusing on developing novel and innovative products, to sustain in the hemodynamics monitoring systems market. For instance, in March 2017, Teleflex announced 510(k) clearance by the Food and Drug Administration and both the U.S. and international commercial launch of the Twin-Pass Torque Dual Access Catheter. Moreover, in May 2016, Deltex Medical Group Plc introduced TruFlow in the U.K., which is wider beam, single patient disposable probe, the reconfigured probe tip design that creates a wider ultrasound beam at the focal point in the aorta.
Key players operating the global hemodynamics monitoring systems market include Edwards Lifescience Corporation, LiDCO Group, Plc, PULSION Medical Systems SE, Cheetah Medical, Inc. ICU Medical, Inc., Deltex Medical Group Plc, and Teleflex, Inc.
Hemodynamic monitoring is one of the crucial factors in care of patients suffering from cardiovascular diseases. The device used to measure these hemodynamic parameters are called hemodynamic monitoring systems that offers critical information on cardiovascular pathophysiology that helps in making various decisions as well as to differentiate among different causes of cardiac instability. The hemodynamic monitoring systems are usually used for patients with severe and critical cardiac conditions. These are mostly used in intensive care units, catheterization labs, and ambulatory surgical centers for continuous monitoring of patients. Hemodynamic monitoring is usually carried out by one of the three types of monitoring that includes invasive hemodynamic monitoring, non-invasive hemodynamic monitoring and minimally-invasive hemodynamic monitoring. The non-invasive and minimally invasive procedures allows quick etiological diagnosis such as cardiac tamponade, myocardial infarction, and ventricular dysfunction without the risks that are associated with the invasive procedures and thus, are gaining significant traction.
The hemodynamics monitoring systems market is witnessing high growth, owing to increasing incidence of chronic diseases, mainly in terms of cardiovascular diseases and diabetes. According to the World Health Organization 2015, prevalence of diabetes in India and China was 8.6% and 9.6%, respectively of the overall diabetes population across the globe. India had over 60 million diabetics as of 2014. Moreover, development of innovative devices to improve efficiency and aid in early diagnosis is also expected to aid in growth of the market. For instance, in March 2016, LiDCO introduced a latest hemodynamic monitor, LiDCOunity, which combines the full suite of LiDCO technology into one product. Product has the flexibility to offer non-invasive, minimally invasive, and calibrated hemodynamic monitoring all on one platform. However, risks associated with invasive procedures such as bleeding at catheterization site, infections and others is expected to restrain the market growth.
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