Noninvasive Cardiac Output Monitoring Devices Market Forecast to 2031

Noninvasive Cardiac Output Monitoring Devices Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Device (Probes & Catheters, Patches, and Wristwatches), Indication (Hypertension, Heart Failure, Coronary Diseases, Myocardial Ischemia and Infarction, Arrhythmias, Congenital Problems, and Others), End User (Hospitals, Emergency Service Centers, Homecare, and Others), and Geography

  • Report Code : TIPRE00018134
  • Category : Medical Device
  • No. of Pages : 150
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The noninvasive cardiac output monitoring devices market was valued at US$ 233.11 million in 2021 and is expected to reach US$ 457.0 million by 2031. The market is expected to register a CAGR of 6.2% from 2023 to 2031. Technological advancements are likely to remain key trends in the noninvasive cardiac output monitoring devices market. 

Noninvasive Cardiac Output Monitoring DevicesOverall Market Analysis

The measurement of cardiac output (CO) is essential in medical practices. In the past, invasive cardiac monitoring was the gold standard treatment for diagnostics. However, in recent years, several noninvasive cardiac output monitoring devices have been developed by the top medical device manufacturers. These devices are technologically advanced products offering alternative solutions to cardiac populations reluctant to undergo invasive cardiac diagnostic treatment.

Noninvasive Cardiac Output Monitoring DevicesMarket Overview

Technology, innovation, and smart technological solutions continue to positively influence the noninvasive cardiac output monitoring devices market growth significantly. Technological advancement is a key trend for the market growth. Novel product launches by the manufacturers through organic strategic developments will provide lucrative opportunities for the noninvasive cardiac output monitoring devices market growth during the forecast period.

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Noninvasive Cardiac Output Monitoring Devices Market: Strategic Insights

Noninvasive Cardiac Output Monitoring Devices Market

  • CAGR (2023 - 2031)
    6.2%
  • Market Size 2021
    US$ 233.11 Million
  • Market Size 2031
    US$ 457.0 Million

Market Dynamics

GROWTH DRIVERS
  • Surge in Preference for Remote Cardiac Monitoring During COVID-19 Pandemic to Favor Market
FUTURE TRENDS
  • Technological Advancements
OPPORTUNITIES
  • Product Launches by the Manufacturers Through Organic Strategic Developments

Key Players

  • Baxter,
  • Bio-Beat,
  • GE Healthcare,
  • Koninklijke Philips N.V.,
  • Abbott,
  • Deltex Medical Limited,
  • NIMedical,
  • LiDCO Ltd. ,
  • Conmed Corporation,
  • Imacor,

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Device
  • Probes & Catheters
  • Patches
  • Wristwatches
Indication
  • Hypertension
  • Heart Failure
  • Coronary Diseases
  • Myocardial Ischemia and Infarction
  • Arrhythmias
  • Congenital Problems
  • Others
End User
  • Hospitals
  • Emergency Service Centers
  • Homecare
  • Others
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Noninvasive Cardiac Output Monitoring DevicesMarket Drivers and Opportunities

Upsurge in Preference for Remote Cardiac Monitoring During COVID-19 Pandemic

to Favor Market

Remote patient cardiac monitoring technologies help to reshape the management of cardiac disorders by making healthcare delivery efficient and accessible. For example, new-age technologies such as remotely managed defibrillators and pacemakers propel the demand for remote cardiac care. Cardiac remote monitoring is advancing with efficient device data management, thereby resulting in the adoption of advanced noninvasive cardiac monitoring devices. Also, there was government support to monitor vital signs remotely amid the COVID-19 pandemic. For instance, in March 2020, the USFDA announced the allowance of expanded use of devices to monitor patients' vital signs remotely. Allowing remote cardiac devices to be used remotely can help healthcare providers access information about patients’ vital signs while the patient is at home, reducing the need for hospital visits and minimizing the risk of novel coronavirus exposure. Furthermore, key medical device manufacturers have launched innovative noninvasive cardiac output monitoring devices during the COVID-19 pandemic. For instance, in May 2020,  Octagos Health, a Houston-based healthcare startup company, announced the launch of a next-generation remote monitoring software platform for patients with implanted cardiac devices. The Octagon software allows healthcare professionals access to cardiac patients, pacemakers, and defibrillators using one portal. Also, the software simplifies the management of remote transmissions and simultaneously provides real-time patient insights and analytics in a secure and cloud-based platform. Therefore, the remote cardiac monitoring devices approach will contribute significantly to the noninvasive cardiac output monitoring devicesmarket growth.

Technological Advancements

Technological advancements have encouraged medical device manufacturers to design innovative products. Emerging technologies provide effective alternatives to traditional cardiac monitoring, creating alerts for patients at risk of cardiovascular disease. The Mobile Cardiac Telemetry (MCT) is an example of a technologically advanced cardiac monitoring device product. The  MCT system assists in monitoring the heart conditions of cardiac patients. Patients carry a tiny sensor and monitor throughout the day. Whenever a cardiac event occurs, the MCT sends the data to a central system for analysis and response. The system generates a report containing graphs and trends and shares it with the patient's physicians for further action.  MCT systems can analyze every heartbeat and detect irregularities in a patient's normal conditions, followed by initiating an immediate emergency response, which makes them one of the most preferred options for cardiac monitoring. Therefore, the adoption of such technologically advanced noninvasive cardiac output monitoring devices meets the healthcare needs of a patient, which drives the noninvasive cardiac output monitoring devicesmarket growth.

Product Launches by the Manufacturers Through Organic Strategic Developments

Manufacturers are investing in designing innovative noninvasive cardiac output monitoring devices to better connect hospitals with cardiac patients. Following are a few developments by the manufacturers.

  • In June 2021, Max Healthcare launched a patient monitoring framework integrated with an artificial intelligence (AI) powered device, which is claimed to be the first in the country. Max Healthcare is one of the largest healthcare providers in India, with over 15 super-specialty hospitals, diagnostics, and integrated home care services. It has launched the AI-powered patient monitoring service in collaboration with a digital health solutions provider named MyHealthcare. The Max MyHealth+ ecosystem, built-in collaboration with MyHealthcare, has integrated blood pressure monitors, ECG and heart rate devices, and blood sugar monitoring devices.
  • In May 2021, VitalConnect, Inc., a leading provider of biosensor technology for remote and in-hospital monitoring, launched the VitalPatch RTM mobile cardiac telemetry (MCT) solution. It is the only cardiac monitoring solution available with a flexible, programmable platform covering multiple cardiac monitoring needs. Uniquely and only available from VitalConnect, the platform allows for continuous, real-time cardiac arrhythmia detection while simultaneously measuring patient physiological parameters.

Such strategic activities are likely to provide lucrative opportunities for the noninvasive cardiac output monitoring devices market to drive innovation during the forecast period.

Noninvasive Cardiac Output Monitoring Devices

Market Report Segmentation Analysis

Key segments that contributed to the derivation of the noninvasive cardiac output monitoring devices market analysis are device, indication, and end user.

  • Based on the device, the noninvasive cardiac output monitoring devices market is segmented into probes & catheters, patches, and wristwatches. The probes & catheters segment held the largest market share in 2023.
  • By indication, the market is segmented into hypertension, heart failure, coronary diseases, myocardial ischemia and infarction, arrhythmias, congenital problems, and others. The hypertension segment held the largest share of the market in 2023.
  • By end user, the market is segmented into hospitals, emergency service centers, homecare, and others. The hospitals segment held the largest market share in 2023.

Noninvasive Cardiac Output Monitoring Devices Market Share Analysis by Geography

The geographic scope of the noninvasive cardiac output monitoring devicesmarket report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America dominated the noninvasive cardiac output monitoring devices market. In the North American market, the US accounts for a considerable market share. The presence of top medical device manufacturers in the US and launch of technologically advanced products by the manufacturers are among the most influential factors responsible for the market growth. Asia Pacific is anticipated to register the highest CAGR in the coming years.  

Noninvasive Cardiac Output Monitoring Devices

Market Report Scope

Report Attribute Details
Market size in 2021 US$ 233.11 Million
Market Size by 2031 US$ 457.0 Million
Global CAGR (2023 - 2031) 6.2%
Historical Data 2021-2022
Forecast period 2023-2031
Segments Covered By Device
  • Probes & Catheters
  • Patches
  • Wristwatches
By Indication
  • Hypertension
  • Heart Failure
  • Coronary Diseases
  • Myocardial Ischemia and Infarction
  • Arrhythmias
  • Congenital Problems
  • Others
By End User
  • Hospitals
  • Emergency Service Centers
  • Homecare
  • Others
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Baxter,
  • Bio-Beat,
  • GE Healthcare,
  • Koninklijke Philips N.V.,
  • Abbott,
  • Deltex Medical Limited,
  • NIMedical,
  • LiDCO Ltd. ,
  • Conmed Corporation,
  • Imacor,
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Noninvasive Cardiac Output Monitoring DevicesMarket News and Recent Developments

    The noninvasive cardiac output monitoring devicesmarket is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:

    • In January 2021, OMRON Healthcare, Inc. launched its first remote patient monitoring service at the CES 2021, along with new digital health tools, to boost patient-to-physician communication and ensure active management of hypertension. OMRON introduced the first wearable blood pressure monitor as well as the first blood pressure monitor with built-in EKG in the last three years; with the innovations, it continues to transform the global heart health marketplace and support its mission of Going for Zero heart attacks and strokes.

    Noninvasive Cardiac Output Monitoring DevicesMarket Report Coverage and Deliverables

    The “Noninvasive Cardiac Output Monitoring DevicesMarket Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

    • Noninvasive cardiac output monitoring devices market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
    • Noninvasive cardiac output monitoring devices market trends as well as market dynamics such as drivers, restraints, and key opportunities
    • Detailed PEST/Porter’s Five Forces and SWOT analysis
    • Noninvasive cardiac output monitoring devices market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
    • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the noninvasive cardiac output monitoring devices market
    • Detailed company profiles
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Device , Indication and End User and Geography

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    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


    What is the expected CAGR of the XYZ market?

    The noninvasive cardiac output monitoring devices market is foreseen to register a CAGR of 6.2% from 2023 to 2031.

    What would be the estimated value of the XYZ market by 2031?

    The noninvasive cardiac output monitoring devices market size is expected to reach US$ 457.0 million by 2031.

    Which are the leading players operating in the noninvasive cardiac output monitoring devices market?

    Key players in the noninvasive cardiac output monitoring devices market are - Baxter, Bio-Beat, GE Healthcare, Koninklijke Philips N.V., Abbott, Deltex Medical Limited, NIMedical, LiDCO Ltd. , Conmed Corporation, Imacor, and Other Market Players

    What are the future trends of the noninvasive cardiac output monitoring devices market?

    Cardiac remote monitoring is advancing with efficient device data management, thereby resulting in the adoption of advanced noninvasive cardiac monitoring devices. Remote cardiac monitoring and Mobile Cardiac Telemetry are anticipated to remain key noninvasive cardiac output monitoring devices market.

    What are the driving factors impacting the noninvasive cardiac output monitoring devices market?

    Upsurge in Preference for Remote Cardiac Monitoring During COVID-19 Pandemic and technological advancements such as Mobile Cardiac Telemetry (MCT) are key drivers of the noninvasive cardiac output monitoring devices market

    Which region dominated the noninvasive cardiac output monitoring devices market in 2023?

    North America dominated the noninvasive cardiac output monitoring devices market in 2023.

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. 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.

    1. 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.

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    • 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:

    Research Methodology

    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.

    1. 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:

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    • 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.

    1. 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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