The hemodynamic monitoring system market size is projected to reach US$ 2.65 billion by 2031 from US$ 1.58 billion in 2023. The market is expected to register a CAGR of 6.7% during 2023–2031. Use of artificial intelligence and machine learning is likely to remain key trend in the market.
Hemodynamic monitoring system is used to monitor the blood circulation of patient and evaluate the heart health. Thus, increasing prevalence of heart related diseases due to growing geriatric population and detection of pediatric heart conditions is fueling the demand for hemodynamic monitoring system. In addition, increasing investment for research and development of hemodynamic monitoring system, awareness initiatives for heart health, and growing focus on patient safety and care quality is driving the growth of the hemodynamic monitoring system market. Moreover, rising demand for critical care monitoring in intensive care units, emergency departments, and operating rooms is also fueling the growth of the market. Expansion of home healthcare services and remote patient monitoring program acts as an opportunity for growth of the market in the forecast period.
Geographically, Asia Pacific is expected to register highest CAGR in the forecast period 2023-2031. Increasing focus on market players on introduction of technologically advanced products in Asia Pacific, growing adoption of home healthcare services, growing demand for non-invasive diagnostic techniques, and increasing R&D activities is fueling the growth of the Asia Pacific hemodynamic monitoring system market. Moreover, growing geriatric population, rising healthcare expenditure, increasing prevalence of cardiovascular diseases (CVDS), and improving government support for creating awareness about heart health is fueling the growth of the market in Asia Pacific.
Cardiovascular diseases (CVDs) cause millions of deaths every year worldwide. According to the 2022 heart disease & Stroke Statistical Update Fact Sheet, Global Burden of Disease, an estimated 119.1 million people died of CVDs in 2020. 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 CVDs are hypertension, obesity, and diabetes. As per the World Health Organization (WHO), ~17.9 million lives are lost due to CVD every year, i.e., ~32% of all deaths reported globally. The awareness regarding CPR is high in western countries. According to the Centers for Disease Control and Prevention (CDC), ~350,000 cases of out-of-hospital cardiac arrest (OHCA) occur in the US every year. Hemodynamic monitors allow measurement of cardiac functions and blood circulation in cardiac patients. The monitoring allows physicians to measure blood pressure from inside the veins, arteries, and heart. Thus, growing prevalence of CVDs is surging the demand for hemodynamic monitors.
By monitoring a patient’s vitals remotely, healthcare professionals can avoid admissions to healthcare facilities. If the cases can be handled virtually, beds are reserved only for patients requiring critical care, which allows hospital administrations to manage their resources more effectively. A shift from long-term facilities, inpatient rehabilitation, and skilled nursing facilities to home care settings results in greater chances of better, consistent, and timely interaction between patient and doctor owing to the growing prominence of cloud and mobility-driven medical devices. Increasing adoption of remote patient monitoring by integrating devices with electronic medical records (EMR) for real-time analysis of the results creating opportunity for growth of the hemodynamic monitors.
Key segments that contributed to the derivation of the hemodynamic monitoring system market analysis are product, type, and end user.
The geographic scope of the hemodynamic monitoring system market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the market. The projected growth of the hemodynamic monitoring system market in North America is attributed to the factors such as increasing health expenditure, rising cardiovascular disease prevalence, increasing awareness about heart health, and growing geriatric population. The prevalence of CVDs in the US is much higher, as more than 50% population is suffering from different types of CVDs. According to the Centers for Disease Control and Prevention (CDC), every year, more than 0.6 million people die due to CVDs; this nearly accounts for one in every four deaths. The primary cause of CVDs among people is hypertension, obesity, and diabetes. Furthermore, various organizations are focusing on introducing programs for the care and treatment of CVDs and creating awareness about these treatments in Mexico. For instance, in June 2022, the American Heart Association launched a 2-year program funded by Novartis Mexico to improve the consistency of care for CVDs.
The regional trends and factors influencing the Hemodynamic Monitoring System Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Hemodynamic Monitoring System Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1.58 Billion |
| Market Size by 2031 | US$ 2.65 Billion |
| Global CAGR (2023 - 2031) | 6.7% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Hemodynamic Monitoring System Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Hemodynamic Monitoring System Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Hemodynamic Monitoring System market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the hemodynamic monitoring system market are listed below:
The “hemodynamic monitoring system Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
North America dominated the hemodynamic monitoring system market in 2023.
Growing incidences of cardiovascular diseases, rising demand for critical care monitoring, and significantly rising elderly population are among the most influential factors responsible for the market growth.
Use of artificial intelligence and machine learning are likely to remain key trends in the hemodynamic monitoring system market.
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. are among the key players operating in the market.
The hemodynamic monitoring system market is estimated to reach US$ 2.65 billion in 2031.
The hemodynamic monitoring system market is anticipated to record a CAGR of 6.7% during 2023–2031.