According to the market research report “Hemodynamic Monitoring Systems Market Analysis – By Type (Minimally Invasive, Non-invasive, Invasive); Product (Pulmonary, Cardiac, Disposables) -Forecast (2016-2021)”, published by IndustryARC, the Hemodynamic Monitoring Systems Market is estimated reach $2.27 billion by 2020.
Browse 14 Market Tables, 68 Figures spread through 140 Pages and an in-depth TOC on “Hemodynamic Monitoring Systems Market”.
Hemodynamic monitoring systems are among the emerging products in the healthcare industry. The product specifications and Hemodynamic monitoring have improved at a high scale in the past few years. There has been a philosophical change from static approach to functional approach due to the evolution of non-invasive technology replacing the existing invasive technology. Despite the introduction of hemodynamic monitoring systems in the healthcare industry, a huge gap persists between the clinical research studies to analyze these monitoring systems and clinical practices.
According to recent report by IndustryARC, the Global Hemodynamic Monitoring Systems Market will grow at CAGR of 7.5% and reach $2.27 billion by 2020. The rise in ‘cardio-patient population’ along with hypertension cases across the globe is propelling the market for hemodynamic monitoring. Minimally invasive segment comprises nearly 61% of total market revenue in 2015 and is projected to grow to $1.33 billion in 2020 with an estimated CAGR 7.8%.
Americas is the largest market for hemodynamic in 2015 followed by APAC and Europe. APAC market has been witnessing significant rise in health issues such as cardiac-cases, hypertension, and so on which in turn increases the demand for hemodynamic monitoring system in the regions. APAC market is estimated to grow at a CAGR of 8.1% in a forecast period. However, Americas will remain dominant for the same period owing to the rapid technological advancement the market is projected to experience a growth rate of 7.8% till 2020.
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Hemodynamic Monitoring: Going Wireless
Human race is the most intelligent species that have inhabited the earth and it has been able to fulfil the need for sustenance and longevity by adapting to changing conditions. Technology has played a vital role in taking the human race forward. Every industry has been majorly influenced by technology thereby reducing the human effort and labor. Healthcare is one such important industry which has witnessed immense transformation over the years. Earlier, the only way to conduct hemodynamic monitoring was to measure heart rate. Slowly, more variables were added such as cardiac output, hemoglobin concentration, blood lactate and pulmonary wedge pressure. Today, hemodynamic monitoring systems are able to analyze host of variables in a continuous manner to better understand the patient health.
The concept of minimally-invasive monitoring or non-invasive monitoring has gained immense traction in the past few years. Physicians want to derive information with the help of minimally-invasive devices. This is where wireless hemodynamic monitors come into picture. Wireless hemodynamic monitors are used to measure signals such as pulmonary artery pressure. The device is implanted in left side of the heart. The signals transmitted are received by the patient electronic system which helps to understand the functioning of heart. The wireless monitors are turning out to be an important device in the healthcare sector.
The advantage with the use of wireless monitor is that it can be used to treat diseases except Coronary Heart Failure (CHF) through reliable and continuous monitoring. The physicians on the other hand can gather data at any time from remote locations. The patient is also able to save expenses as these devices are relatively affordable as compared to the traditional hemodynamic monitoring systems. The dream of achieving non-invasive monitoring has turned true with these devices. The contribution is significant and it is going to transform the healthcare sector.
Noninvasive Hemodynamic Monitoring to Become Mainstream Products
The healthcare systems have observed incessant developments owing to the consideration of health as a vital aspect of social and psychological life. The hemodynamic monitoring system is one such healthcare system that has been improved over time to offer a better and efficient way of monitoring oxygen supply in the body. Since their inception in the market, the invasive techniques have been employed for cardiac monitoring of patients continuously but have been proved to be an obstacle in case a patient needs to be offered an immediate diagnosis or if the body of a patient is fragile enough to handle it. Therefore, the medical devices manufacturers such as Cheetah Medical and Edwards have been instrumental in devising non-invasive hemodynamic monitoring systems.
This trend is already visible in non-invasive evaluation of cardiac output and its derived variables. These types of devices rely extensively on the algorithms for estimating the variables. Although, the successive versions of algorithms are yielding reliable data but still they are not in the limits set up by regulatory bodies. The prime example of such case being the continuous noninvasive arterial pressure monitoring systems that have not offered any data limits in accordance with the standards set by Association for Advancement of Medical Instrumentation. The technology for noninvasive in the current scenario is not yet advanced to meet the requisite standards but the complications posed by invasive methods to high-risk surgery patients due to fragile body or in the form of thrombotic and infectious threats will swiftly move the development of non-invasive hemodynamic monitoring systems.
Key Players in the Hemodynamic Monitoring Systems Market:
- GE Healthcare
- Philips Healthcare
- Draeger Medical
- Edward Lifesciences
- Deltex Medical Systems
- LiDCO Group
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