According to a new market research report "Hemodynamic Monitoring Systems Marketby Product (Disposables and Monitors), Type (Invasive, Minimally Invasive, and Non-invasive), End User (Hospitals, Clinics & Ambulatory Care Center, and Home Care Setting), and Region - Global Forecasts to 2023", published by MarketsandMarkets™, the market is expected to reach USD 1,167.4 million by 2023 from USD 857.8 million in 2018, at a CAGR of 6.4% during the forecast period.
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The key factors driving the growth of this market are technological advancements in hemodynamic monitoring systems, increasing research into hemodynamic monitoring systems, influx of VC funding, rising prevalence of cardiovascular diseases & diabetes, rising geriatric population & growing number of surgeries, awareness initiatives by industry players, and government focus on critical care infrastructure & services.
By product, the disposables segment is expected to account for the largest share of the market in 2018
On the basis of product, the global market is segmented into two broad categories monitors and disposables. In 2018, the disposables segment is expected to account for the largest share of the Hemodynamic Monitoring Systems Market owing to the presence of a large patient population undergoing diagnosis for vascular diseases; increasing adoption of disposables among medical professionals owing to their procedural and technological benefits; and ongoing technological advancements in catheters, probes, sensors, and guidewires. Furthermore, the rising incidence of risk factors for vascular diseases (such as obesity, hypertension, alcoholism, and diabetes) is also expected to support the growth of this market segment during the forecast period.
By type, the invasive systems segment is expected to account for the largest share of the market in 2018
On the basis of type, the Hemodynamic Monitoring Systems Market is segmented into invasive, minimally invasive, and noninvasive systems. In 2018, the invasive systems segment is expected to account for the largest share of the global market. Invasive hemodynamic monitoring provides accurate, continuous, and comprehensive data on the hemodynamic state of a patient.
By end user, the hospitals segment is expected to account for the largest share of the market in 2018
On the basis of end user, the Hemodynamic Monitoring Systems Market is segmented into hospitals, clinics and ambulatory care centers (ACCs), and home care settings. In 2018, hospitals segment is expected to account for the largest share of the global market. The large share of this segment can be attributed to the presence of big cath labs in hospitals, successful application of hemodynamic monitoring systems in several procedures, global increase in the number of patients and the subsequent increase in the prevalence of cardiovascular and other chronic diseases, and continuous technological advancements coupled with government funding.
In 2018, North America is expected to account for the largest share of the Hemodynamic Monitoring Systems Market, followed by Europe. Factors such as rising geriatric population, increasing prevalence of diabetes and hypertension, availability of technologically advanced hemodynamic monitoring systems, growing use of patient monitoring systems, and a large base of major device manufacturers in the US and Canada are contributing to the large share of North America.
The key players in the global Hemodynamic Monitoring Systems Market are Edwards Lifesciences Corporation (US), PULSION Medical Systems SE (Germany), LiDCO Group plc (UK), Cheetah Medical (Israel), Deltex Medical Group Plc. (UK), ICU Medical (US), Osypka Medical GmbH (Germany), CareTaker Medical (US), CNSystems (Austria), NI Medical (Israel), and Uscom (Australia).
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