Global Hemodynamic Monitoring Devices Market 2024-2031

Global Hemodynamic Monitoring Devices Market 2024-2031

Global Hemodynamic Monitoring Devices Market Size, Share & Trends Analysis Report by System (Minimally Invasive Monitoring Devices, Invasive Monitoring Devices, and Non-Invasive Monitoring Devices), by End-User (Hospitals, Homecare, and Laboratory) Forecast Period (2024-2031)

Global hemodynamic monitoring devices market is anticipated to grow at a moderate CAGR of 3.2% during the forecast period (2024-2031). The increasing demand for hemodynamic monitoring devices to monitor the rising geriatric population which is highly susceptible to chronic diseases is a key factor driving the global market growth. The increasing prevalence of hypertension has led to a rising demand for rapid, accurate diagnostic solutions, that and cost-effective.

Market Dynamics

Rising Burden of Chronic Disorders

The rising burden of chronic disorders such as heart diseases, chronic obstructive pulmonary (COPD), and respiratory diseases that require immediate action has created a huge demand for on-time monitoring devices such as hemodynamic monitoring devices, thus driving the market demand. According to WHO, around 17.9 million fatalities occur each year due to these heart diseases, which is estimated to be around 31.0% of the global fatalities. Amongst these fatalities, around 7.4 million had CHD and approx. 6.7 million fatalities occurred due to a stroke. By 2030, it has been projected that CVDs will be responsible for approx. around 23.6 million mortalities across the globe.

Fatalities due to CVD, 2012 & 2030 (Millions)

Source: WHO, American Heart Association

According to the CDC, As of May 2023, 15.7 million Americans (6.4%) have been diagnosed with chronic obstructive pulmonary disease (COPD). In 2021, the CDC estimated that 14.2 million (6.5%) US adults had been diagnosed with COPD.

Market Segmentation

Our in-depth analysis of the global hemodynamic monitoring devices market includes the following segments by system and end-user:

Based on the system, the market is sub-segmented into minimally invasive monitoring devices, invasive monitoring devices, and non-invasive monitoring devices.

Based on end-users, the market is sub-segmented into hospitals, home care, and laboratories.

Hospitals is the Largest Segment based on End-User

Based on the end-user, the global hemodynamic monitoring devices market is sub-segmented into hospitals, home care, and laboratories. Hospitals are highly preferred for critical disorders due to the availability of advanced technologies, and trained professionals in these healthcare settings. The capability of the hospitals to offer intensive care is further aiding in its market demand.

Minimally Invasive Sub-segment to Hold a Considerable Market Share

The growing demand for minimally invasive systems globally owing to their offered benefits is a key factor contributing to the high share of this market segment. The minimally invasive systems track stroke volume continuously and offer dynamic information on fluid responsiveness. Some systems assess volumetric preload variables, while others highlight the continuous measurement of central venous saturation with proprietary catheters. These variables of minimally invasive procedures and cardiac output deliver improved hemodynamic monitoring.

Regional Outlook

The global hemodynamic monitoring devices market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America).

Asia-Pacific a Lucrative Market for Global Expansion

The increasing prevalence of cardiovascular disease and diabetes drives the growth of the market in the region. According to the WHO, in 2023, in India, there are an estimated 77 million people above the age of 18 years suffering from diabetes (type 2) and nearly 25 million are prediabetics (at a higher risk of developing diabetes in the near future). Additionally, the increasing investments by the government in improving healthcare facilities along with the rapidly growing target disease population base are further aiding the market demand.

North America Holds Major Market Share

Among all the regions, North America holds a significant share owing to the increasing prevalence of cardiovascular disease and the increasing geriatric population. Developed healthcare infrastructure and increasing investments by manufacturers are some of the major factors that are estimated to fuel regional market growth. The proactive government initiative in the region for the betterment of patient health is further aiding the growth of the market.

Market Players Outlook

The major companies serving the global hemodynamic monitoring devices market include Koninklijke Philips NV, Edwards Lifesciences Corp., Masimo, Getinge AB, and GE Healthcare among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in February 2021, Masimo acquired the LiDCO Group Plc, a leading provider of advanced hemodynamic monitoring solutions (LiDCO).

Startup Funding

In February 2021, Flosonics Medical, a Canadian medical device company focused on non-invasive hemodynamic monitoring, announced the close of a USD 14 million funding round led by Arboretum Ventures. This financing will enable the development of a non-invasive on-demand Doppler measurement of blood flow.

The Report Covers

Market value data analysis of 2023 and forecast to 2031.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global hemodynamic monitoring devices market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.