Hemodynamic Monitoring Systems Market by Product (Disposables and Monitors), Type (Invasive Hemodynamic Monitoring Systems, Noninvasive Hemodynamic Monitoring Systems and Minimally Invasive Hemodynamic Monitoring Systems), End User (Hospitals, Home Care Settings and Clinics & Ambulatory Care Centers) - Global Analysis & Forecast 2020-2030
Report ID : 323 | Published Date : Jul 2020 | Pages : 160 | Region : Global | Report Code : MD-99
Hemodynamic Monitoring Systems Market Overview and Introduction
Hemodynamic management refers to the act of optimizing both the patient’s fluid balance and blood pressure during a surgery. Hemodynamic monitoring is essential in patients undergoing surgery to avoid complications associated with unstable circulating blood volume. All patients undergoing surgery are at high risk of consequent serious and potentially life-threatening complications. Hemodynamic monitoring is essentially employed in the healthcare sector for combating conditions such as tissue hypoxia, shock and multi organ failure in critically ill patients. One of the most common postoperative complications includes hypovolemia i.e. reduction in circulating blood. Hemodynamic monitoring systems aid in monitoring the flow of blood leaving the heart with every beat and consequently help in early & real-time detection of any reduction in circulating blood volume. This facilitates anesthetist to intervene quickly and safely to correct the situation, before the hypovolemia becomes serious and potentially life threatening.
Increasing cases of cardiovascular diseases, rising geriatric population and technological advancements can be attributed to the growth of hemodynamic monitoring system market. Moreover, increasing initiatives by key players is also encouraging the adoption of hemodynamic monitoring system in healthcare facilities. In the wake of corona virus scare, companies are focusing on spreading awareness about the importance hemodynamic monitoring systems. For instance, the American College of Cardiologists has issued its own bulletin discussing the risk of complications in COVID-19 patients with underlying cardiovascular conditions. The issued guideline for COVID-19 states that “for patients with heart failure or volume overload conditions, copious fluid administration for viral infection should be used cautiously and carefully monitored.”This implies the importance of close control over circulating fluid status to avoid any hemodynamic instability. However, high cost of hemodynamic monitoring systems and dearth of skilled professionals are factors that are expected to adversely impact the market.
The global hemodynamic monitoring systems market has been analyzed from three perspective: By Product, Type, End User and Region.
Hemodynamic Monitoring Systems Market by Product
On the basis of product, the hemodynamic monitoring systems market is segmented into disposables and monitors. Monitors segment is expected to growth at the highest CAGR over the forecast period. The increasing technological advancements in patient monitoring systems is primarily attributed to the growth of this segment. For instance, in December 2018, Edwards Life sciences Corporation received U.S. FDA clearance for HemoSphere platform which comprises of Acumen HPI (Hypotension Prediction Index) software and Acumen IQ sensor. The software introduces artificial intelligence (AI) to hemodynamic monitoring through a machine learning, data-driven algorithm which facilitates in early detection of hypotensive conditions.
Hemodynamic Monitoring Systems Market by Type
Based on type, the market has been segmented into invasive hemodynamic monitoring systems, noninvasive hemodynamic monitoring systems and minimally invasive hemodynamic monitoring systems. The noninvasive hemodynamic monitoring systems segment is expected to witness highest CAGR over the forecast period. Invasive monitoring methods are often associated with complications such as pulmonary artery rupture, right bundle-branch block, complete heart block, and catheter related sepsis. Hence, there is a shift from invasive to noninvasive monitoring systems which are more patient compliant.
Hemodynamic Monitoring Systems Market by End User
Similarly in terms of end user, the market has been segmented into hospitals, home care settings and clinics & ambulatory care centers. In 2019, hospitals segment accounted for the largest market share owing to increasing adoption of monitoring systems in hospitals for efficient patient monitoring during surgeries
Hemodynamic Monitoring Systems Market by Region
The global hemodynamic monitoring system market has been segmented into North America, Europe, Asia Pacific, and Rest of World (ROW).North America dominates the global hemodynamic monitoring systems market. Incessantly rising cases of cardiovascular disease can be attributed to the growth of hemodynamic monitoring systems market in this region. According to American Heart Association, Inc., by 2030, approximately 116 million people in the United States will suffer some form of cardiovascular disease such as stroke and heart failure. Moreover, increasing geriatric population, presence of better healthcare facility and technological advancements further propel the market growth in this region.
Hemodynamic Monitoring Systems Market Prominent Players
Some of the prominent players operating in the global hemodynamic monitoring systems market are Edwards Life sciences Corporation, Konin klijke Philips N.V., Deltex Medical Limited, LiDCO, ICU Medical, Inc., CNSystems Medizin technik GmbH., PULSION MEDICAL SYSTEMS SE, NI Medical, CHEETAH MEDICAL Uscom, among others.