Finance

Hemodynamic monitoring devices to grow at a 6.73% CAGR during 2021-2030

Hemodynamic monitoring devices to grow

The analysis of how blood flows through the circulatory system is known as hemodynamic monitoring (i.e., the heart and blood vessels). The circulatory system aims to supply blood containing oxygen and other important nutrients to the body’s cells and tissues. The worldwide hemodynamic monitoring devices market value was $1.47 billion in 2021 and will reach $14.12 billion by 2030, growing at a 6.73% CAGR during 2021-2030.

Factors such as advanced developments in hemodynamic monitoring systems, improved research into the hemodynamic monitoring system, an increase in the cases of cardiovascular diseases and Type-2 diabetes, a growing senior population requiring more surgeries, and a government focus on critical care infrastructure and services are propelling the hemodynamic monitoring systems market forward.

Market Overview

The increasing geriatric population, rise in the frequency of cardiac disorders and diabetes, an increase in demand for home-based and noninvasive monitoring systems, and rise in the number of people suffering from hypertension are the factors driving the growth of this market. According to the World Health Organization’s Facts of 2021, an estimated 1.28 billion persons aged 30-79 years have hypertension worldwide.

New hemodynamic monitoring methods can advance cardiovascular patient management during postoperative care and anesthesia because they provide accurate and repeatable measurements that can detect hemodynamic alterations and their causes, optimizes hemodynamic conditions such as oxygen delivery to tissues, and provides feedback on the adequacy of therapeutic interventions. The switch to less invasive or noninvasive monitoring techniques and the shift from static to dynamic variables for assessing requirements like cardiac preload and fluid responsiveness propels the market’s expansion.

However, rising problems connected with intrusive monitoring systems and strict FDA standards for new system approval may hamper industry expansion.

Must Read : How to Pay HDFC Personal Loan EMI Online?

Opportunities

Emerging markets will provide a capable growth opportunity for worldwide industry participants in the coming years. It is mostly due to a growing patient population in these nations, an increase in patient monitoring devices, increased awareness of cardiovascular disorders, and improved healthcare infrastructure.

Segmentation analysis

  • By product, the hemodynamic monitoring market is segment into disposables and monitoring devices. In 2020, the monitoring devices segment led the overall hemodynamic monitoring devices market, contributing to approximately 26.08% of the market share. Factors stimulating the growth of this segment are the annual increase in the prevalence of various cardiovascular diseases, such as stroke and congestive heart failure, around the world.
  •  The market is segmented into noninvasive, minimally invasive, and invasive. The noninvasive devices segment will be the fastest-growing market segment during the forecast period. Factors such as increase product development initiatives and increased patient demand for these technologies are expected to boost the expansion of this market segment.
  • In terms of end-user, the hospital’s segment ruled the overall market with a revenue share of 40% in 2020. Increased expansion and development of several portable and noninvasive monitoring devices, home care settings, varied ambulatory services, and increased utilization in specialty clinics, among other things, are the factors stimulating the growth of this market segment.
  • Regionally, the market is segmented into Asia Pacific, Europe, North America, and LAMEA. In 2020, Europe and North America together held the largest percentage of the global market. Some of the key elements driving market expansion in these regions include an ageing population, an increase in the incidence and prevalence of patients with lifestyle diseases, well-established reimbursement systems, and high consumer spending power. On the other hand, during the anticipated year, the Asia-Pacific area had the quickest CAGR globally.

Competitive landscape

New product development by major players and expansion into emerging markets. Key manufacturers’ expansion, new product launches, and approvals are boosting their market presence.

Major Players working in the market are:

  • GE Healthcare
  • Care Taker Medical
  • ICU Medical Inc.
  • Edwards Lifesciences Corporation
  • Koninkijke Philips NV
  • Tensys Medical Inc.
  • Deltex Medical
  • PULSION Medical Systems SE
  • Cheetah Medical
  • Other Players

Also Read : Get Support For QuickBooks Payroll Online

Recent Development

  • Noninvasix announced that its LIVOx Central Venous Oxygenation Monitor had obtained FDA Breakthrough Device Designation for noninvasive, real-time, continuous, or spot monitoring of central venous oxygen saturation (ScvO2) in people at risk of septic shock.
  • Sensydia, an innovation in the quick, noninvasive monitoring of essential heart function, announced that the US Food and Drug Administration had approved Breakthrough Device Designation for its Cardia Performance System (CPSTM).

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
hosting satın al minecraft server sanal ofis xenforo