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Cardiovascular disorders are commonly observed in variable age group, which makes it necessary to see early detection and management of disease incidences. Burgeoning prevalence of lifestyle disorders and cardiac diseases is constantly raising the demand for hemodynamic monitoring devices. This has been a prominent driver for the growth of hemodynamic monitoring devices market globally, within the past decade.

As cases of diabetes, obesity, blood pressure disorders, CVDs, stroke, and many more are on the rise, the need for routine assessment of standard hemodynamic parameters is also growing. These parameters include heart rate, blood volume, blood pressure, ECG, temperature, central venous pressure, blood gas analysis, and oxygen perfusion/peripheral venous oxygen saturation.

When it comes to post-surgery monitoring of patients in critical care units, hemodynamic monitoring systems make one of the most critically required components in medical care arsenals of hospitals and healthcare facilities. As the number of both surgeries and hospitals are constantly increasing since the past few years, the demand for hemodynamic monitoring devices is also witnessing steady impetus.

Hemodynamic monitoring primarily aims to accurately assess the cardiovascular system of patients and monitor their response to it but it also helps in recognizing the dysfunctioning of various organ systems. This has been another key factor propelling the demand for hemodynamic monitoring devices worldwide. Launch of new, innovative products will highly influence the market in the near future. In addition, growing popularity of disposables segment is also fueling recurrent demand for hemodynamic monitoring devices.

Due to a growing trend of hospital system digitalization, the integration of monitoring devices with computers is gaining popularity worldwide, including developing nations, which are inclining more toward adoption sophisticated medical care infrastructure. These integrated systems enable critical care unit staffs to simultaneously view multiple patients’ parameters on the same machine. This is a key factor driving their popularity.

Where cardiac output monitoring has been traditionally performed using the thermodilution method via a PAC (pulmonary artery catheter) that was first introduced in the 1970s, it is now monitored using lesser invasive and more efficient techniques. The advent of technology and value added benefits of newly emerging monitoring system models are positively impacting the market growth.

Minimally invasive cardiac monitoring involves all such devices and methods, which evaluate the entire cardiac output without using a PAC. Minimally invasive or non-invasive systems are hitting the industry and capturing sizeable markets, prominently attributed to their non-invasive nature. There are a few more methods recently introduced with minimal invasiveness but are lesser popular than their mainstream counterparts. However, introduction of a miniature TOE probe, offering the real time information about cardiac function and anatomy, is expected to create a massive impact on conventional management methods for ITU patients.  

North America is the key market globally, registering the highest consumption of hemodynamic monitoring devices, more than 30%. With increasing number of clinics, hospitals, and individually operating physicians adopting these devices, the U.S. is witnessing robust sales of hemodynamic monitoring systems, which are equipped with non-invasive technology. The U.S. FDA has recently passed an approval to ClearSight, an advanced product in the category. It will further contribute to the market growth in the near future. 

According to a recent survey, over 85% of septic shock patients in Canada and Europe standardize central venous pressure as a parameter to monitor the resuscitation of fluid. This figure highlights the extensive need for hemodynamic monitoring systems in these regions. The most promising market is however emerging in Asia Pacific, owing to increased concentration of governments on high quality healthcare. Japan is currently leading the APAC market for hemodynamic monitoring devices. 

Based on type, hemodynamic monitoring devices are pulmonary artery catheters (PACs), pulse contours, monitoring sensors, and esophageal Doppler. By application, the market is segmented into invasive, non-invasive, and minimally invasive. Among end users of hemodynamic monitoring systems, hospitals and clinics dominate the market, whereas ambulatory surgery centers and home healthcare units also record significant consumption.

Some of the key players dominating the global market for hemodynamic monitoring systems include ICU Medical, Inc., Edwards Lifesciences Corporation, Cheetah Medical, GE Healthcare, Philips Medical, LiDCO Group Plc., Teleflex Incorporated, Siemens, PULSION Medical Systems SE, McKessen, Deltex Medical Group Plc., Hemo Sapiens, In., Tensys Medical, Inc., Osypka Medical GmbH, Schwarzer Cardiotek GmbH, and Drager Medical GmbH.

Leading players are constantly launching innovative products and investing increasingly in R&D. Geographic expansion and strategic company tie-ups has been a profitable move for key companies, supporting the overall market growth.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Hemodynamic Monitoring Devices Market

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