Hemodynamic Monitoring Market

Hemodynamic Monitoring Systems Market Overview

The Global Hemodynamic Monitoring Market size is estimated at USD 1.44 billion in 2024, and is expected to reach USD 1.87 billion by 2033, growing at a CAGR of 3.01% during the forecast period (2024-2033). Hemodynamic monitoring devices measure blood pressure straight from the heart, arteries, and veins. They also measure oxygen levels and blood flow. These gadgets' primary function is to track cardiac activity. The hemodynamic systems provide data on fluid balance, blood pressure, and blood volume. Interfaces for recording diagnostic catheterizations, coronary, peripheral, electrophysiology (EP), transesophageal echocardiography, and esophageal Doppler are also included in these systems. Workflow can be accelerated by auto-filling physician report fields that may be connected to an external cardiovascular information system (CVIS). To help speed up case reporting, some systems enable many users to submit data simultaneously for a particular process. Additionally, the system can identify which user entered the data and track these changes. The market for hemodynamic monitoring systems is expanding due to a number of factors, including an older population and patient base, technological advancements in esophageal Doppler and transesophageal echocardiography, and a rise in surgeries. The market is being driven by the increasing number of critically ill elderly patients, the prevalence of diabetes and cardiovascular diseases, the growing need for non-invasive, home-based monitoring systems, and advancements in hemodynamic monitoring technology. Furthermore, the first worldwide "World Restart a Heart (WRAH)" initiative was started in 2018 by the International Liaison Committee on Resuscitation (ILCOR). Promoting bystander cardiopulmonary resuscitation (CPR) for patients experiencing cardiac arrest and increasing public awareness were the objectives.

Hemodynamic Monitoring Systems Market Dynamics:

Market Growth Drivers:

• Technological Advancements Upsurge the Demand of Hemodynamic Monitoring Systems is Driving the Market Growth: People today are more prone to chronic illnesses and degenerative disorders, which raises the need for operations and therapies. Noninvasive hemodynamic monitoring for critically ill patients involves using finger cuffs to directly monitor blood pressure and the pulse contour technique for transesophageal echocardiography and esophageal Doppler to assess cardiac output. For example, Caretaker Medical's Caretaker 4 uses a finger cuff to continuously measure heart rate, blood pressure, and other physiological data beat by beat. As the population of a nation ages, the need for surgical services increases. Elderly patients frequently need more care during the perioperative period than younger patients, which raises the cost of healthcare. In October 2020, for example, Getinge introduced NICCI, its most recent development in advanced hemodynamic monitoring, to help the hemodynamic monitoring systems industry grow by offering continuous and noninvasive hemodynamic solutions to lower the risk of chronic issues in patients with low blood pressure.

Restraints:

• High Product Cost May Hinder Product Demand: The high implementation costs and a lack of knowledge about how to handle equipment internationally are impeding the growth of the hemodynamic monitoring systems market. Some of the market's restricting factors include the existence of traditional techniques and the high cost of equipment. Hospital networks, large group purchasing groups, and other organizations are searching for methods to combine their purchasing power, and hospitals are combining. BREXIT has negatively impacted the UK economy, for instance, causing currency exchange rate instability and an increasing number of regulatory issues. The expansion of the hemodynamic monitoring systems industry is further constrained by these consequences, which may have a detrimental effect on businesses, financial circumstances, or operational outcomes in this market.

Hemodynamic Monitoring Systems Market Segmentation:

The Minimally Invasive System Segment, which held the most revenue market share in 2020, is anticipated to expand at a compound annual growth rate (CAGR) of 7.3% between 2024 and 2030. By monitoring stroke volume and fluid response, these devices improve hemodynamic monitoring. They have demonstrated efficacy in substituting PAC in some therapeutic scenarios and are commercially available. The segment is growing because arterial cannulation, when paired with contemporary devices like the FloTrac system, can provide information on heart function and blood pressure. During the 2024–2030 projection period, the Non-Invasive System segment is anticipated to grow at the second-fastest compound annual growth rate (CAGR) because of factors including greater frequency of respiratory illnesses, less problems, portability, convenience of use, precision, and lower costs associated with personnel, treatment, and hospital stays. Improvements in technology are anticipated to propel the segment's growth.

Since hospitals and clinics have access to cutting-edge diagnostic and therapeutic medical technologies, they held the greatest revenue market share in 2020. The segment's expansion is facilitated by the availability of sophisticated monitors and knowledgeable employees. Transesophageal echocardiography and esophageal Doppler technology advancements have made them widely used in both developed and developing nations. The sector is expanding because to the rising number of surgeries and the need for painless procedures. The fastest CAGR of 7.1% is anticipated for nursing homes between 2024 and 2030. Recovery rooms and operation rooms both use hemodynamic monitoring systems. Telemetry monitors facilitate the wireless transfer of patient data, which boosts market expansion.

Hemodynamic Monitoring Systems Market: Competitive Landscape:

• Medtronic, Inc.
• Mindray Medical International Limited
• Nihon Kohden Corporation
• Philips Healthcare
• Baxter International, Inc.
• Cardinal Health
• Draegerwerk AG & Co. KGaA
• GE Healthcare
• Heyer Medical AG
• Smiths Medical, Inc.

Recent Industry Developments in Hemodynamic Monitoring Systems Market:

• In October 2023, Masimo announced that it has obtained CE mark approval for its LiDCO board-in-cable (BIC) module used in hemodynamic monitoring. The business based in Irvine, California, developed LiDCO BIC to be compatible with multi-patient monitoring platforms like the Masimo Root Patient Monitoring and Connectivity Hub. Clinicians may effortlessly integrate LiDCO hemodynamic monitoring, along with the company's adaptable PulseCO algorithm, into their Root patient monitoring centers.

• In September 2023, the acquisition of Cheetah Medical by Baxter International demonstrates the company's dedication to improving healthcare outcomes and patient monitoring.

• In March 2023, the FDA cleared Fifth Eye's Analytic for Hemodynamic Instability (AHI) tool, which makes hemodynamic instability easier to detect in its early stages.

Regional Insights:

Due to the existence of advanced healthcare facilities and rising health consciousness among the populace, the North American hemodynamic monitoring systems market held a 41% revenue share in 2020. Due to product introduction, acquisition, and the high prevalence of diabetes and cardiovascular diseases in this area, North America is expected to hold the largest market share. In July 2018, Visura Technologies, a U.S.-based medical device company, revealed that the FDA had given its TEECAD System, a disposable camera system used for transesophageal echocardiography, 510(k) approval. Furthermore, over 62,000 Canadians experience a stroke year, and the figure is expected to rise, according to the Heart and Stroke Foundation's 2019 report. Over 405,000 people nationwide suffer from strokes. About 69.0 percent of people who have a cardiac arrest and 77.0 percent of people who have a stroke have blood pressure that is higher than 140/90 mm Hg for the first time, according to the American Heart Association. Therefore, employing these devices to monitor blood pressure helps with the early detection and treatment of cases of cardiovascular disease, which propels the growth of the sector in the area. Asia-Pacific is anticipated to develop at the quickest rate between 2024 and 2030. It is anticipated that the region's prevalence of diseases including obesity, heart issues, and different kinds of cancer will keep rising, which will fuel the market for hemodynamic monitoring systems by increasing the number of open and minimally invasive treatments.

Hemodynamic Monitoring Systems Market Segmentation:

By Type:

• Invasive System
• Minimally Invasive System
• Non-Invasive System

By End User:

• Hospitals/Clinics
• Ambulatory Surgical Centers
• Nursing Homes
• Others

By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa