Hemodynamic Monitoring Systems Market: Limited Patient Awareness Related To Disease Diagnosis
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Summary
- 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%.
According to the latest market research by MarketsandMarkets “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%.”
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 Hemodynamic Monitoring 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.
Hemodynamic Monitoring Systems Market by Product (Disposables and Monitors), Type (Invasive, Minimally Invasive, and Non-invasive), End User (Hospitals, Clinics & Ambulatory Care Center, and Home Care Setting), and Region - Global Forecasts to 2023
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By type, noninvasive hemodynamic monitoring systems segment is expected to grow at the highest CAGR during the forecast period
The noninvasive hemodynamic monitoring systems segment is expected to grow at the highest CAGR during the forecast owing to the reduction of staffing costs, treatment expenses, and hospital stay; rising incidence of respiratory disorders; fewer complications of noninvasive hemodynamic monitoring as compared to invasive methods; and better portability, ease of use, and better precision.
Monitors segment to witness the highest growth in the forecast period
The monitors segment is expected to grow at the highest CAGR during the forecast owing to the increasing prevalence of CVD; technological advancements in monitoring systems; increasing funding by government authorities for improving patient-centered care, safety, and efficiency; and the ability of hemodynamic monitors to improve cath lab efficiency.
North America to dominate the market in 2018
In 2018, North America is expected to account for the largest share of the hemodynamic monitoring systems market, followed by Europe. Factors such as rising geriatric population, increasing prevalence of diabetes and hypertension, availability of technologically advanced hemodynamic monitoring systems, growing use of patient monitoring systems, and a large base of major device manufacturers in the US and Canada are contributing to the large share of North America.
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Leading Companies
The key players in the global hemodynamic monitoring systems market are Edwards Lifesciences Corporation (US), PULSION Medical Systems SE (Germany), LiDCO Group plc (UK), Cheetah Medical (Israel), Deltex Medical Group Plc. (UK), ICU Medical (US), Osypka Medical GmbH (Germany), CareTaker Medical (US), CNSystems (Austria), NI Medical (Israel), and Uscom (Australia).
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