Hemodynamic Monitoring System Market Size, Share & Trends Analysis Report By Type (Invasive Hemodynamic Monitoring System, Minimally Invasive Hemodynamic Monitoring System, Non-Invasive Hemodynamic Monitoring System), By Product (Hemodynamic Monitoring Systems, Disposables), By End-User (Hospitals and Clinics, Ambulatory Care Centers, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global hemodynamic monitoring system market size was valued at USD 1,536 million in 2022. It is estimated to reach USD 2,749 million by 2031, growing at a CAGR of 6.68% during the forecast period (2023–2031). Factors such as increasing prevalence of cardiovascular diseases and lifestyle-related diseases, significantly drives the hemodynamic monitoring system market demand by 2031.

The study of blood flow through the heart and blood vessels, both cardiovascular system components, is known as hemodynamic monitoring. Comprehensive cardiac output monitoring is necessary for total patient care. When hemodynamic variables are not being used to their full potential, hemodynamic monitoring techniques are crucial for appropriately portraying hemodynamic stability in perioperative settings.

Remotely observing elements associated with a patient's hemodynamic activity is now possible because of the introduction of advanced hemodynamic monitors and hemodynamic monitoring implants in patient care. Systems for remote and portable hemodynamic monitoring are essential for patients at risk for cardiovascular issues since they allow for patient monitoring at home.

Market Dynamics

Global Hemodynamic Monitoring System Market Drivers

Increasing Prevalence of Cardiovascular Diseases and Lifestyle-Related Diseases

Cardiovascular disease is the most prominent cause of death for men and women globally. According to the American College of Cardiology, approximately every 40 seconds, an American will have a myocardial infarction. There is a rising prevalence of lifestyle-related diseases such as diabetes, hypertension, etc. Additionally, there is a rise in the number of older adults who are seriously ill and require ongoing monitoring and occasional updates to their loved ones on their condition. Therefore, the rising prevalence of these populations and other cardiovascular and lifestyle diseases demands an effective system for closely monitoring the heart.

Furthermore, the hemodynamic monitoring system is used for the patient's quality of life, a clinical inspection of cardiovascular health, and longevity of life from cardiac surgery. These measurable parameters are used for pressure transducing devices, electrical, photometric, invasive, and non-invasive devices. This system is utilized when a patient's cardiovascular health needs to be evaluated and comprises multiple intravascular catheters. The advantage of a hemodynamic monitoring system that aids in treating cardiovascular disease and other lifestyle diseases is propelling the market growth.

Rising Demand for Minimally Invasive Hemodynamic Monitoring System

The hemodynamic monitoring system's sales in clinics and at-home care settings have increased due to the introduction of technologically improved minimally invasive or non-invasive solutions. The minimally invasive monitoring systems provide dynamic data on fluid responsiveness and assist in tracking stroke volume. While some systems highlight the continuous importance of central venous saturation with proprietary catheters, others help study volumetric preload factors. These less invasive system variables and cardiac output provide better hemodynamic monitoring. Therefore, these monitoring systems have made hemodynamic calculations easier, which has gained the attention of healthcare providers, resulting in driving the hemodynamic monitoring system market growth.

Global Hemodynamic Monitoring System Market Restraint

Risks Associated with Hemodynamic Monitoring System

The adverse reactions from the hemodynamic monitoring system include bleeding, pulmonary capillary necrosis, thrombosis, sepsis, and hemorrhage, associated with invasive hemodynamic monitoring is a significant factor expected to restrain growth. In addition, continuous or sequential cardiac output recording parameters are limited to pulse contour analysis and indicator-dilution techniques. These methods allow incomplete characterization of the patient's cardio-circulatory status. Therefore, hemodynamic management of critically ill patients based on these parameters is reported to be not optimal and delays the stabilization of the patient, leading to worse outcomes and increased use of resources. This is expected to hinder hemodynamic monitoring system market growth over the forecast period.

Global Hemodynamic Monitoring System Market Opportunities

Emerging Market Players in the Hemodynamic Monitoring System

Emerging markets are anticipated to offer potential growth opportunities for global players operating in the market due to the increasing cardiovascular patient population, rising adoption of patient monitoring devices, growing awareness related to cardiovascular diseases (CVD), and improving healthcare infrastructure. Moreover, emerging countries have registered a sustained increase in surgical procedures during the past decade, driven by the growing target patient population, increasing CVD-related deaths, and rising medical tourism.

Furthermore, many major players in the hemodynamic monitoring system market are adopting strategies such as acquisitions and mergers to expand their product portfolio by launching new products and collaborating major players with small players in the market. For instance, the U.S. Food and Drug Administration approved the De Novo request for Edwards' Acumen Hypotension Prediction Index (HPI) software in March 2018, according to an announcement from Edwards Lifesciences Corporation. Only Edwards' minimally invasive hemodynamic monitoring devices work with the Acumen HPI function.

Regional Analysis

By region, the global hemodynamic monitoring system market share is divided into the Americas, Europe, Asia-Pacific, and the Middle East and Africa.

America Dominate the Global Market

America is the most significant shareholder and is anticipated to grow at a CAGR of 6.42% during the forecast period. This expansion might be linked to the region's high rates of diabetes and cardiovascular disease and product introductions and acquisitions. Around 655,000 Americans die from heart disease each year. Furthermore, the key players in the regional market are also focused on product development and launch to expand their product portfolio. For instance, Visura Technologies, a medical device company based in the US, in July 2018, announced that its TEECAD System, a single-use disposable camera system used during a transesophageal echocardiogram, received 510(k) clearance from the FDA. TEECAD System, Visura Technologies attaches to a Transesophageal Echocardiogram (TEE) ultrasound probe and allows physicians to see the esophagus and upper airway when placing a safe intubation probe. Moreover, acquisitions will likely boost the market's growth in this region. For example, a medical technology business focused on non-invasive tissue oxygenation and brain monitoring, CAS Medical Systems, Inc., was purchased by Edwards Lifesciences Corporation in April 2019. The acquisition will boost the growth of the market during the forecast period.

Europe is expected to grow at a CAGR of 6.18% over the forecast period. Europe held the second-largest share of the hemodynamic monitoring system market as a result of its highly developed medical sector and businesses' organic growth strategies. In February 2018, Getinge, a Sweden-based leading global provider of innovative medical technology, announced that the US FDA granted 510(k) clearance to its PulsioFlex Monitoring System and PiCCO Module. The PulsioFlex Monitoring System is a diagnostic aid used to measure and monitor blood pressure and cardiopulmonary, circulatory, and organ function variables in ICU patients. In addition, organic growth strategies help a company strengthen its position in the European market.

Asia-Pacific is anticipated to register the highest growth rate over the forecast period. This growth is owing to the high incidence of cardiovascular diseases, COPD, and diabetes. As per the American Diabetes Association, more than 60% of the entire diabetic population lives in Asia. Moreover, various initiatives taken by the governments in Asia-Pacific to support the healthcare system are also fueling the regional market's growth. For instance, in August 2020, the Government of India announced a national health ID for every Indian to create a centralized mechanism to identify every participating user in the National Health Stack uniquely. In addition, the rising per capita disposable income of middle-class families, which accounts for a large population in Asia, results in individuals spending more on health. This is encouraging market growth in the region during the forecast period.

Furthermore, the region's product development and launches have increased in the last few years. For instance, in December 2019, Nihon Kohden Corporation, a Tokyo-based medical device company, launched its Life Scope SVM-7200 Series vital signs monitor, designed for outpatient facilities and beds. The monitor also features the company's inflation-based non-invasive blood pressure (iNIBP) measure that automatically detects systolic and diastolic pressure while the cuff is inflating to measure three vital signs: blood oxygen, blood pressure, and temperature.

The hemodynamic monitoring system market in the Middle East and Africa has witnessed steady growth in the past few years. The rise in diabetes and cardiac disorders, the number of elderly patients who are critically ill, technological advancements, funding from private companies and governmental organizations, the increase in demand for home-based and non-invasive monitoring systems, and the rise in the number of hypertensive patients are the main factors driving the regional market's expansion. In addition, as per the World Population Ageing 2019 report, in Saudi Arabia, the population group aged 65 years or over in 2019 was 1.169 million (3.4%), which is projected to reach 2.379 million (6.0%) by 2030. The elderly population is expected to grow in the next few years. Since the elderly are more prone to chronic diseases, such as cardiovascular diseases, obesity, and diabetes, the regional market is expected to experience significant growth during the study period.

Segmental Analysis

The global hemodynamic monitoring system market share is segmented into type, product, and end-user.

Based on type, the global market is divided into invasive, minimally invasive, and non-invasive hemodynamic monitoring systems.

The invasive segment is the highest contributor to the market and is expected to grow at a CAGR of 6.04% during the forecast period. Monitoring blood pressure and heart activity can be done accurately and dependably using invasive techniques such as pulmonary artery catheters and arterial lines. Invasive methods are the most promising for studying heart functions and blood pressure in the critical care unit (ICU). Rising cardiac surgeries encourage medical device providers to develop reliable hemodynamic monitoring systems for patients in ICU. For instance, in February 2018, Getinge, a leading global provider of innovative medical technology, announced that the US FDA had granted 510(k) clearance to its PulsioFlex Monitoring System and PiCCO Module. The PulsioFlex Monitoring System is a diagnostic aid used to measure and monitor blood pressure and circulatory, cardiopulmonary, and organ function variables in ICU patients.

The benefit of a minimally invasive hemodynamic monitoring device is that it has a lower risk of consequences than invasive systems like artery catheters, including infection or thrombus. The players offering minimally invasive hemodynamic monitoring systems are focused on developing innovative multipurpose hemodynamic monitoring systems. For instance, in April 2016, LiDCO, the hemodynamic monitoring company, cleared FDA approval for its LiDCOunity, a patient monitoring system that combines the full suite of LiDCO technology in one monitor. LiDCOunity brings together LiDCO's minimally invasive and calibrated technologies to allow seamless, continuous monitoring from pre-induction through surgery and onto recovery in the intensive care unit or other high-dependency units.

Based on product, the global market is divided into hemodynamic monitoring systems and disposables.

The hemodynamic monitoring systems segment owns the highest market share and is estimated to grow at a CAGR of 5.99% over the forecast period. Hemodynamics monitoring products are used to measure and monitor the blood pressure and oxygen level inside the veins, heart, and arteries. Technological advancements in hemodynamic monitoring products and the increasing prevalence of cardiovascular disease (CVD) drive this segment's growth. In addition, key players offer various hemodynamics monitoring products that continuously monitor vital hemodynamic parameters. For instance, when used with an appropriate cardiac output monitor, Edward Lifesciences' Swan-Ganz pulmonary artery catheters provide continuous parameters on three key integrated elements: flow, pressure, and oxygen delivery and consumption.

The increasing demand for disposables used for the diagnosis and treatment of critically ill patients is projected to boost the growth of this segment. In the case of invasive catheters used for measuring arterial pressure, these catheters are not reusable and must be changed per patient, thereby fueling market growth. Key players focus on developing new advanced products to help the end-users provide seamless services. For instance, TEECAD System, a single-use disposable camera system developed by Visura Technologies, in July 2018, announced that their TEECAD System used during a transesophageal echocardiogram had received 510(k) clearance from the FDA. TEECAD System by Visura Technologies attaches to a transesophageal echocardiogram (TEE) ultrasound probe and enables physicians to observe the esophagus and upper airway when placing a search for safe intubation.

Based on end-user, the global market is divided into hospitals and clinics, ambulatory care centers, and others.

The hospitals and clinics segment is the highest contributor to the market and is expected to grow at a CAGR of 7.28% during the forecast period. The demand for hemodynamic monitoring systems in the hospital and clinics segment is driven by the increasing prevalence of cardiovascular diseases (CVD) such as angina and myocardial infarction and technological advancements. The increase in the visiting rate of patients in clinics is boosting the hospitals and clinics segment. Moreover, most cardiovascular disease (CVD) procedures and surgery are carried out at hospitals and clinics, which would drive the growth of the hemodynamic monitoring market.

Ambulatory surgery centers are medical care facilities that provide outpatient services. Outpatient services can include various services, including surgeries, minimally invasive therapies, and other procedures. Moreover, ambulatory surgery centers enhance the safety of care transitions and establish patient safety and strategies for clinicians and other medical professionals to improve performance and maintain workflow, thus driving this segment's growth.

Impact of covid-19

Recent Developments

• April 2022- Caretaker Medical announced that it received FDA 510(k) clearance for four new hemodynamic parameters for its VitalStream platform.
• December 2022- Baxter International Inc. announced that the ExactaMix Pro Automated Compounder would be offered to clients in the United States in early 2023. ExactaMix Pro will be displayed at Baxter's booth #937 during the 2022 American Society of Health-System Pharmacists (ASHP) Midyear Clinical Meeting in Las Vegas.