The global hemodynamic monitoring devices market size was estimated at USD 871.15 Million in 2017 and is anticipated to gain significant traction over coming years.
Hemodynamic monitoring devices are used to analyze the individual’s blood stream and obtain a number of metrics about it, including the blood pressure inside various parts and the amount of oxygen in the blood present in the body’s circulatory system. Hemodynamic monitoring devices are used precisely for the post-surgical therapy of cardiac patients; as cardiovascular systems need more care after the surgical process.
The hemodynamic monitoring devices market share is majorly driven by The increasing incidence of cardiovascular disorders. For instance, according to the Centers for Disease Control and Prevention (CDC), approximately 610,000 people die due to cardiac disease in the U.S. every year. In addition, the implementation of sedentary and unhealthy lifestyles with an increasing demographic of urban users is a key factor further leading to rise in the number of patients suffering from cardiovascular diseases. Moreover, the unhealthy dietary adoptions of the urban individuals have contributed to the growing incidence of cardiovascular diseases. Thus, the proportional increase in the number of patients with the rising demand for the appropriate care is expected to boost the hemodynamic monitoring devices market size growth.
In recent years, the hemodynamic monitoring devices market size has demonstrated a stable growth primarily due to an alarming increase in the critical congenital heart disease (CCHD) screening, the rising occurrence of Chronic obstructive pulmonary disease (COPD), and other respiratory disorders. The influence of these factors on the hemodynamic monitoring devices market has been augmented by the favorable regulatory scenario. Moreover, a swiftly increasing global population is anticipated to lead to the augmented adoption of hemodynamic monitoring devices in healthcare centers across the globe further bolstering the market growth.
The global Hemodynamic Monitoring Devices Market is segmented on the basis of product, type, end use, and geography.
On the basis of product, the Hemodynamic Monitoring Devices Market is segmented into Monitoring systems and disposals. On the basis of monitoring systems, the global hemodynamic market is further segmented into Cardiac output monitors, Pulmonary artery catheters, and others. On the other hand, the disposables are further segmented into Probes, Airflow Sensors, and Circuits.
On the basis of type, the Hemodynamic Monitoring Devices Market is segmented into Non-invasive Hemodynamic Monitoring System, Minimally Invasive Hemodynamic Monitoring System, and Invasive Hemodynamic Monitoring System. Non-invasive devices are expected to display the fastest growth during the forecast period majorly due to the growing product expansion and increasing demand for proper care by people for such technology. On the basis of end use the Hemodynamic Monitoring Devices Market is segmented into hospitals and catheterization laboratories. In 2017, the hospital segment is estimated to dominate the market by end-use segment.
In terms of geography, North America was estimated to dominate the Hemodynamic Monitoring Devices Market. The dominance is majorly attributed to the high growth of sales in the U.S. for these devices. Moreover, growing assurance of specialists in the forthcoming non-invasive technologies is expected to aid in supporting this dominance during the forecast period. However, Asia Pacific is expected to dominate the global Hemodynamic Monitoring Devices market during the forecast. The rising governmental focus on quality healthcare, increasing occurrences of cardiovascular ailments and growing geriatric population are the factors anticipated to significantly boost the Hemodynamic Monitoring Devices Market in the Asia Pacific.
Major firms are focusing on small firms with a working methodology of securing the end goal to manage position in the market and are associated with mergers and acquisitions, key joint efforts, and novel item advancement to pick up profit share in the business. Some major key players in global Hemodynamic Monitoring Devices Market includes Deltex Medical, Edward Lifesciences, Philips Medical, GE Healthcare, Hemo Sapiens, Inc., OsypkaCardiotek GmbH, LiDCO, and Drager Medical GmbH among others.