Hemodynamic Monitoring Systems Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028
The Global Hemodynamic Monitoring System Market is anticipated to witness impressive growth during the forecast period. This can be ascribed to the growing developments in hemodynamic monitoring systems, and growth enhancement in the research of hemodynamic monitoring systems across the globe. Additionally, the increasing prevalence of arthritis, diabetes-like diseases, and other medical conditions like obesity, and vascular diseases, and increasing demand for minimally invasive and non-invasive surgical treatments are the major factors driving the growth of the market over the years. Additionally, growing awareness about hemodynamic monitoring systems and procedural benefits provided by monitoring systems for the treatment of cardiovascular diseases is further boosting the market growth during the forecast period. Cardiovascular disease (CVD), listed as the underlying cause of death, accounted for 874,613 deaths in the United States in 2019.
Technological advancements
According to recent research, it has been observed that the increasing demand for non-invasive technologies is rapidly growing over conventionally accepted invasive technology in present years. These monitoring systems help to diagnose pain and reduce the risk of blood-borne infections in patients. Similarly, these systems are easy to use and can be operated by a nurse without the supervision of a doctor or any specialist. Due to its advantages, these systems can be simultaneously monitored in different patients which lower the cost of staff and treatment expenditure. Additionally, the growing usage of hemodynamic monitoring for CVP, hemodynamic monitoring non-invasive systems, hemodynamic monitoring invasive systems, hemodynamic monitoring during CPB, hemodynamic monitoring transducers, hemodynamic monitoring transducers, hemodynamic monitoring cardiogenic shocks, hemodynamic monitoring echocardiography, hemodynamic monitoring flotrac , hemodynamic monitoring in heart failure, haemorrhage, arterial line, etc are expected to create a lucrative growth during the forecast period. Similarly, the expansion of the hemodynamic monitoring systems market and devices market are boosting the market growth rate during the forecast period. In March 2021, Philips introduced its interventional hemodynamic system featuring a patient monitor- IntelliVue X3 to provide advanced hemodynamic (blood flow) measurements and improve patient focus during image-guided procedures.
Growing Prevalence of Cardiovascular Diseases
Advanced hemodynamic monitoring methods can enhance the monitoring systems of cardiac patients during post-operative care and anaesthesia - repetitive measurements for the detection of hemodynamic abnormalities and their causes. Cardiovascular diseases are one of the major chronic diseases across the world. Coronary heart syndrome, cerebrovascular diseases, rheumatic heart diseases, and other illnesses are among them blood vessel disorders known as CVDs. According to WHO, 32% of all deaths across the globe i.e., 17.9 million people die due to CVD every year. Furthermore, the increasing burden of CVDs triggers the increased adoption of hemodynamic monitoring systems during the forecast period. 96 million people aged 18 years or older have prediabetes in the United States and Nearly 1.9 million Americans have type 1 diabetes, including about 244,000 children and adolescents.
Market Segmentation
The global hemodynamic monitoring system market can be segmented by product, type, end-user, and region. Based on the product, the market can be divided into Disposable and Monitors. Based on type, the market can be grouped into Invasive Hemodynamic Monitoring Systems, Minimally Invasive Hemodynamic Monitoring Systems, and Non-invasive Hemodynamic Monitoring Systems. Based on end users, the market can be segmented into Hospitals, Clinics, and Ambulatory Care Centers. Regionally, North America dominated the market among Asia Pacific, Europe, Middle East & Africa, and South America. Among the different countries, the United States dominated the global hemodynamic monitoring market on account of the growing demand for minimally invasive surgeries with low costs for the treatment of cardiovascular diseases.
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