The global Hemodynamic Monitoring Devices Market size was valued at USD 750.0 million in 2015. The increasing incidences of lifestyle-related conditions such as diabetes, obesity, stroke, and hypertension, are expected to be the principal drivers of the market. These diseases are expected to increase the prevalence of cardiac disorders that require routine assessment of the hemodynamic parameters.
According to the American Heart Association, about 69.0% people suffering from cardiac arrest and 77.0% people suffering from strokes for the first time record a blood pressure higher than 140/90 mm Hg. Therefore, the observation of blood pressure through these devices helps in the early detection and in the control of cardiovascular disease incidences.
Furthermore, hemodynamic monitoring is crucial in the case of critically ill patients and individuals, who have recently undergone surgery. Hence, the rising volume of surgeries across the globe is expected to boost the sale of pertinent products over the forecast period.
These products perform the function of assessing the blood volume and oxygen perfusion rate along with restricting the incidence of adverse effects due to the administration of excess fluids. According to a report published in the journal “Intensive Care Med”, surveys were conducted across Europe and Canada, wherein about 90.0% patients suffering from septic shock used central venous pressure as a means to monitor the fluid resuscitation.
North America Hemodynamic Monitoring Devices Market share, by product, 2014 - 2024 (USD Million)
On the basis of products, the market is segmented into monitoring systems, disposables, and services. Over the forecast period, disposables are expected to witness the fastest growth and held over 60.0% shares in 2015.
Disposables have been further sub-segmented into airflow sensors, probes, circuits, and others. The increasing use of hemodynamic monitoring products in critical units and casualty rooms is expected to drive the demand for disposables. In the case of invasive catheters used for measuring arterial pressure, these catheters are not reusable and hence need to be changed per patient, thereby fueling market growth.
The hemodynamic monitoring devices have been segmented into invasive, minimally invasive, and non-invasive type. Pulmonary artery catheters dominate the invasive devices segment. The rising incidences of arrhythmias and pulmonary hypertension are expected to drive the market for pulmonary artery catheters.
Minimally invasive devices include all the products that help in measuring the cardiac output without the insertion of catheters and methods such as esophageal Doppler, pulse pressure analysis, thoracic electrical bio-impedance, and echocardiography.
Non-invasive devices are anticipated to witness the fastest growth over the forecast period owing to the increasing product development and rising demand by patients for such technology. Non-invasive systems allow the in-house assessment of hemodynamic statistics without compromising on the accuracy and reliability.
For instance, Nexfin by Edward Lifesciences determines the arterial pressure through a cuff wrapped around the patient’s finger. Another variation called Nexfin CO-Trek has a co-oximeter, which allows the measurement of the oxygen delivery index (DO2I).
The end-use segment includes hospitals, catheterization laboratories, and others. In 2015, hospitals held over 40.0% shares and their dominance is expected to prevail over the next seven years.
However, with the development of numerous non-invasive and portable monitoring systems that are highly patient compliant, their use in clinics, home care settings, and ambulatory services is anticipated to rise. Hence, these end users form the most lucrative segment and is expected to grow at a CAGR of over 7.0%.
North America contributed to about 35.0% of the global Hemodynamic Monitoring Devices Market in 2015. The sales in the U.S. for these systems remained robust and the increasing confidence of physicians and clinical staff in the upcoming non-invasive technologies is anticipated to help in sustaining this dominance for the next eight years.
Furthermore, the recent FDA approval for products, such as ClearSight, is expected to boost sales over the forecast period. Asia Pacific is predicted to be the most promising region over the next five years owing to the rising governmental focus on quality healthcare. Japan held the majority of shares within the region owing to the rising incidences of cardiovascular diseases and increasing geriatric population that require critical care.
Competitive Market Share Insights
Key players include Deltex Medical, Edward Lifesciences, Philips Medical, GE Healthcare, Hemo Sapiens, Inc., OsypkaCardiotek GmbH, LiDCO, and Drager Medical GmbH. The industry is dominated by a few major players and is anticipated to experience an extension in their product portfolios over the forecast period.
Tie-ups and geographic expansion of companies, such as LiDCO and Edward Lifesciences, aid in gaining dominance in regions such as Japan, Brazil, and Saudi Arabia. This is expected to drive the industry’s growth.
The report has been analyzed on the basis of products, types, and end-users. The overall growth of the hemodynamic monitoring devices market is expected to be influenced by the introduction of new products and the continuous growth in the disposables segment.
Furthermore, the digitalization of hospital systems leading to the integration of these devices with computer platforms is expected to boost the sale in hospitals over the forecast period. These systems help in generating databases for each patient, allowing physicians to quickly overview all the hemodynamic parameters of multiple patients simultaneously.
Hence, technological advancements in the products and their integration with hospital software are expected to positively impact the industry. Such trends were studied by conducting an exhaustive secondary research. Primary interviews and surveys enabled interactions with industry experts and KOLs invalidating the data gathered, which was then processed and triangulated using various models to provide an accurate and meaningful information to clients.This study can further be customized depending on the client’s requirement.
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