[Research Report] The hemodynamic monitoring system market is projected to reach US$ 2,173.15 million by 2028 from US$ 1,419.94 million in 2021; it is estimated to grow at a CAGR of 6.4% from 2022 to 2028.
The hemodynamics monitoring system measures the blood flow through the cardiovascular system, that is, the heart and blood vessels. The monitoring allows physicians to estimate the amount of oxygen distributed in tissues and organs of the human body. Further, it is used for measuring blood pressure from inside the veins, arteries, and heart. It is also used to measure the level of oxygen in the blood.
The hemodynamics monitoring system market is segmented based on type, product, end user, and geography. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The report offers insights and in-depth analysis of the market, emphasizing on parameters such as market trends, technological advancements, and market dynamics, along with the analysis of the competitive landscape of the world's leading market players.
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Hemodynamic monitoring System Market: Strategic Insights
Market Size Value in US$ 1,419.94 Million in 2021 Market Size Value by US$ 2,173.15 Million by 2028 Growth rate CAGR of 6.4% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2021
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Hemodynamic monitoring System Market: Strategic Insights
| Market Size Value in | US$ 1,419.94 Million in 2021 |
| Market Size Value by | US$ 2,173.15 Million by 2028 |
| Growth rate | CAGR of 6.4% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
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Lucrative Regions for Hemodynamics Monitoring System Market
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Market Insights
Increasing Geriatric Population
The prevalence of cardiovascular diseases is higher among geriatric people. Similar to Asian countries such as Japan, China, and India, the US is experiencing a significant shift in life expectancy. In 2019, the country recorded a significant demographic shift due to a huge baby boom. According to the Population Reference Bureau, the baby boomers belonged to the age group of 55–73. Thus, the baby boomers have brought various challenges and opportunities to the economy, especially in terms of infrastructure, institutions, and healthcare facilities. Similarly, as per the report published by the Population Reference Bureau in 2019, the geriatric population of the US will double by 2060. The number is expected to grow to 95 million by 2060 from 52 million, and the percentage of the geriatric population is anticipated to reach 23% of the total population from 16%. Additionally, as per the Eurostat, in 2021, over one-fifth (20.8%) of the European Union population was aged 65 or more. As per the report "The UK's ageing population" by the House of Commons (UK Parliament), the UK's population is witnessing a massive age shift. More than 12.3 million people are aged 65 years, and by 2043, ~24% (17.4 million people) of the population is expected to be 65 or more.
The rise in the geriatric population is expected to lead to various chronic health conditions such as high blood pressure, obesity, and diabetes, which are the primary causes of cardiovascular diseases. Monitoring services for the geriatric population are widely provided in home care settings. Therefore, the demand for hemodynamic monitoring systems in these settings is expected to grow, which would further foster the growth of the market during the forecast period.
Rising Prevalence of Cardiovascular Diseases
Cardiovascular diseases (CVDs) are the leading cause of death across the globe, causing millions of deaths every year. According to the 2022 heart disease & Stroke Statistical Update Fact Sheet, Global Burden of Disease, in 2020, approximately 119.1 million people died of cardiovascular diseases. It also stated that the global prevalence of stroke and ischemic stroke in 2020 was 89.1 million and 68.2 million, respectively. The major causes of cardiovascular diseases are hypertension, obesity, and diabetes.
The prevalence of cardiovascular diseases is also high in North America. As per the National Center for Chronic Disease Prevention and Health Promotion, Division for Heart Disease and Stroke Prevention, ~697,000 people the US died due to heart disease, which is one in every five deaths. Moreover, according to the American Heart Association, by 2035, over 130 million Americans, or 45.1% of people, are likely to have some form of cardiovascular disease. Additionally, cardiovascular diseases are the leading cause of mortality and a major cause of morbidity in Europe. CVD causes 45% of total deaths in Europe and 37% in the EU.
Furthermore, more than 75% of CVD deaths occur in low- and middle-income countries where high blood pressure is the most important risk factor for CVDs. As per the study “Global Burden of Disease Study 2019,” CVD was the leading cause of death in Asia in 2019, causing 10.8 million deaths (approximately 35% of the total deaths) in Asia. Thus, the rising prevalence of cardiovascular diseases is driving the hemodynamics monitoring market.
Type Insights
Based on type, the global hemodynamics monitoring system market is segmented into noninvasive hemodynamic monitoring system, minimally invasive hemodynamic monitoring system, and invasive hemodynamic monitoring system. In 2021, the invasive hemodynamic system segment held the largest share of the market. Moreover, the market for the noninvasive segment is expected to grow at the highest CAGR during 2022–2028. A noninvasive hemodynamic monitoring system includes an air-filled band that can analyze blood pressure manually and automatically. The benefit of this system is that it is fast and does not require a stethoscope.
Product insight
Based on product, the global hemodynamic monitoring system market is divided on basis of product into monitors and disposables. The disposables segment held the largest share of the market in 2021. However, the monitors segment is anticipated to register the highest CAGR in the market during the forecast period of 2022–2028. The factors responsible for the market growth are rising prevalence of CVD; technological improvements in monitoring systems; raising funding by government authorities for advancing patient-centered safety, care, and efficacy; and the capacity of hemodynamic monitors to enhance cath lab efficiency.
End User Insights
Based on end user, the hemodynamic monitoring system market is segmented into hospitals, cath labs, home care, and ambulatory surgical center. The hospital segment held the largest market share in 2021, and it is further expected to be the largest shareholder in the market by 2028. Hospitals are the most significant entities that have all the facilities available. Hospitals also provide various diagnostics and treatment facilities that can be reimbursed under insurance claims. Various hospitals offer facilities such as proper care, physiotherapy, and guidance that assist in the faster recovery of patients. Also, hospitals have modernized equipment and are installed with integrated information technologies.
Hospitals offer all the diagnostics and treatments associated with cardiovascular diseases. Cardiovascular diseases require continuous monitoring and better nursing services, which are largely provided by hospitals. Therefore, owing to all the factors mentioned above, the market for the hospitals segment is likely to grow in the coming years.
Hemodynamics Monitoring System Market, by Type – 2021 and 2028
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- In May 2021, Philips introduced an integrated Interventional Hemodynamic System with Patient Monitor IntelliVue X3 to improve workflow and patient focus during image-guided procedures.
- In October 2020, Getinge launched NICCI, an advanced hemodynamic monitoring system. It provides continuous and noninvasive hemodynamic insights to reduce the risk of severe complications for patients with low blood pressure.
The COVID-19 pandemic is having the mixed impact on the hemodynamics monitoring system market. A hemodynamic monitoring system is an important device that are used in intensive care unit to monitor blood flow, blood pressure, vascular resistance, fluid, and oxygen level of critically ill patients. COVID-19 pandemic positively supported the market growth of hemodynamic monitoring system due to continuous measurement of the hemodynamic parameters among the COVID-19 patients. Further, patients who required hospitalization for COVID-19 are prone to conditions such as sepsis, acute lung injury, and acute respiratory syndrome. Hemodynamic instability is the major contributor for mortality and thus, hemodynamic monitoring systems are required to continuous monitoring of hemodynamic parameters. Thus, hemodynamic monitoring system supported the growth of the market during COVID-19 pandemic.
Hemodynamics monitoring system – Market Segmentation
Based on Type, the market is segmented into noninvasive hemodynamic monitoring system, minimally invasive hemodynamic monitoring system, and invasive hemodynamic monitoring system. The noninvasive hemodynamic monitoring system is further bifurcated into NICaS and others. Based on Product, the market is classified into monitors and disposables. Based on End User, the market is segmented into hospitals, cath labs, home care, and ambulatory surgical centers. Based on Geography, the market is divided into North America (US, Canada, Mexico), Europe (France, Germany, UK, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), Middle East & Africa (Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa), South and Central America (Brazil, Argentina, and Rest of South and Central America)
Company Profiles
- Koninklijke Philips NV
- Osypka Medical GmbH
- General Electric Co
- Edwards Lifesciences Corporation
- Schwarzer Cardiotek
- Getinge Group
- Deltex Medical
- ICU Medical Inc
- Masimo
- Baxter International Inc
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Product, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Changing medical and financial conditions in developing nations is likely to fuel the market growth in the coming years.
Asia-Pacific is lucrative for the hemodynamics monitoring system market.
Increasing product developments and approvals is likely to act as a trend the market growth in the coming years.
Non-Invasive hemodynamic monitoring systems segment is growing in the hemodynamics monitoring system market.
The hemodynamics monitoring system market majorly consists of the players such Koninklijke Philips NV, Osypka Medical GmbH, General Electric Co, Edwards Lifesciences Corporation, Schwarzer Cardiotek, Getinge Group, Deltex Medical, ICU Medical INC., Masimo, and Baxter International Inc., among others.
The factors such as increasing elderly population in world and rising cardiovascular disease drive the market growth. However, risks associated with invasive hemodynamic monitoring systems hinders the market growth.
Hemodynamics monitoring system measures the blood flows through the cardiovascular system, that is, heart and blood vessels. The monitoring allows physicians to estimate the amount of oxygen that is being distributed in tissues and organs of the human body. Further, it is used for measuring blood pressure from inside the veins, arteries, and heart. It is also used to measure blood flow and the level of oxygen in the blood.
The List of Companies - Hemodynamics Monitoring Systems Market
- Koninklijke Philips NV
- Osypka Medical GmbH
- General Electric Co
- Edwards Lifesciences Corporation
- Schwarzer Cardiotek
- Getinge Group
- Deltex Medical
- ICU Medical Inc
- Masimo
- Baxter International Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
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- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
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- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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