According to a new research report published by Premium Market Insights, the hemodynamic monitoring system market is expected to reach $2.17315 billion by 2028, from $1.41994 billion in 2021. It is estimated to grow at a CAGR of 6.4% from 2022 to 2028.
Growing geriatric population and growing demand for minimally invasive procedures across the globe are some of the key factors driving the hemodynamic monitoring systems market. However, risks associated with invasive hemodynamic monitoring systems hamper the market growth.
Hemodynamic monitoring systems measure the cardiovascular system, i.e. blood flow through the heart and blood vessels. Monitoring allows doctors to estimate the amount of oxygen distributed to the body’s tissues and organs. It is also used to measure blood pressure in veins, arteries, and inside the heart. It is also used to measure oxygen levels in the blood.
Cardiovascular disease (CVD) is the leading cause of death worldwide, killing millions each year. An estimated 119.1 million people died from cardiovascular disease in 2020, according to the 2022 Heart Disease and Stroke Statistics Update fact sheet, Global Burden of Disease. It also revealed that the global prevalence of stroke and ischemic stroke in 2020 were 89.1 million and 68.2 million, respectively. The main causes of cardiovascular disease are high blood pressure, obesity and diabetes.
The prevalence of cardiovascular disease is also high in North America. According to the National Center for Chronic Disease Prevention and Health Promotion, Division of Heart Disease and Stroke Prevention, ~697,000 people have died from heart disease, which is 1 in 5 deaths. Also, according to the American Heart Association, more than 130 million Americans (45.1%) will likely have some form of cardiovascular disease by 2035. Cardiovascular disease is also a leading cause of mortality and a leading cause of morbidity in Europe. CVD accounts for 45% of all deaths in Europe and 37% in the EU.
Based on type, the global hemodynamic monitoring systems market is segmented into non-invasive hemodynamic monitoring systems, minimally invasive hemodynamic monitoring systems, and invasive hemodynamic monitoring systems. In 2021, the invasive hemodynamic monitoring system segment held the largest share of the market. Additionally, the non-invasive monitoring system segment market is expected to grow at the highest CAGR during 2022-2028. Non-invasive hemodynamic monitoring systems include air-filled bands that allow manual and automated blood pressure analysis. The advantage of this system is that it is fast and does not require a stethoscope.
Hemodynamic Monitoring Systems Market – Product Insights
On the basis of product, the global hemodynamic monitoring system market is divided into monitors and disposables on the basis of product. The disposables segment accounted for the largest share of the hemodynamic monitoring systems market in 2021. However, the monitor segment is expected to register the highest CAGR in the hemodynamic monitoring system market over the forecast period of 2022-2028. The reason for the market growth is the increasing prevalence of CVD. improving the technology of monitoring systems; funding from governmental authorities to advance patient-centered safety, treatment and efficacy; and the ability of hemodynamic monitors to improve Cath laboratory efficiency.
Hemodynamic Monitoring Systems Market – End User Insights
Based on the end user, the hemodynamic monitoring system market is segmented into hospitals, catheter wraps, home care, and ambulatory surgical centers. The hospital segment accounted for the largest market share in 2021 and is projected to be the largest shareholder in the hemodynamic monitoring system market by 2028. Hospitals are the most important institutions with access to all facilities. The hospital also offers a variety of diagnostic and treatment facilities that are reimbursed under insurance claims. A variety of hospitals provide facilities such as appropriate treatment, physical therapy and guidance to support patients’ quick recovery. The hospital is also modernizing its equipment and installed with integrated information technology.
The hospital provides diagnosis and treatment of all cardiovascular diseases. Cardiovascular disease requires continuous monitoring and better nursing care, which is mainly provided by hospitals. Therefore, due to all the factors mentioned above, the market for hemodynamic monitoring systems in the hospital sector is likely to grow in the coming years.
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