Publication Month: Nov 2022 | Report Code: TIPHE100000982 | No. of Pages: 195 | Category: Medical Device | Status: Published
The Hemodynamic monitoring systems 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 Hemodynamic monitoring systems market is segmented based on type, product, end user, and geography. By geography, the hemodynamic monitoring systems 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.
|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|
|No. of Pages||195|
|No. of Tables||111|
|No. of Charts & Figures||76|
|Historical data available||Yes|
|Segments covered||Type, Product, and End User|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
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.
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 hemodynamic monitoring systems market.
Based on type, the global Hemodynamic monitoring systems market is segmented into noninvasive hemodynamic monitoring systems, minimally invasive hemodynamic monitoring systems, and invasive hemodynamic monitoring systems. 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 systems 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.
Based on product, the global hemodynamic monitoring systems market is divided on basis of product into monitors and disposables. The disposables segment held the largest share of the hemodynamic monitoring systems 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.
Based on end user, the hemodynamic monitoring systems 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 hemodynamic monitoring systems market for the hospitals segment is likely to grow in the coming years.
The COVID-19 pandemic is having the mixed impact on the Hemodynamic monitoring systems market. A hemodynamic monitoring systems 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 systems 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 systems supported the growth of the market during COVID-19 pandemic.
Based on Type, the market is segmented into noninvasive hemodynamic monitoring systems, minimally invasive hemodynamic monitoring systems, and invasive hemodynamic monitoring systems. The noninvasive hemodynamic monitoring systems 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 hemodynamic monitoring systems 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)