Hemodynamic Monitoring Devices Market to Reach $1.9 Billion, Globally, by 2033 at 4.7% CAGR: Allied Market Research

The global hemodynamic monitoring market is experiencing growth due to several factors such as the increase in prevalence of chronic diseases such as heart failure and hypertension and technological advancements in hemodynamic monitoring devices.

WILMINGTON, Del., Aug. 21, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Hemodynamic Monitoring Devices Market by Product (Disposables and Monitors), Type (Non-invasive, Minimally Invasive, and Invasive), End User (Hospitals, Home Care Settings, Laboratory Settings, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the hemodynamic monitoring devices market was valued at $1.2 billion in 2023, and is estimated to reach $1.9 billion by 2033, growing at a CAGR of 4.7% from 2024 to 2033.

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Prime determinants of growth

The hemodynamic monitoring market is being propelled by several key drivers such as technological advancements such as the development of minimally invasive devices and wearable sensors are enhancing patient comfort and providing real-time data. The increasing prevalence of cardiovascular diseases and chronic conditions necessitating continuous monitoring further fuels market growth. Additionally, the rising adoption of hemodynamic monitoring in critical care settings and operating rooms to optimize patient outcomes and reduce complications presents significant opportunities for market expansion. Moreover, the integration of artificial intelligence and data analytics in hemodynamic monitoring systems is anticipated to revolutionize patient care by providing predictive insights and personalized treatment strategies.

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Segment Highlights

Increase in adoption of disposables due to rise in number chronic diseases and surgical procedures

Disposables such as catheters, sensors, and probes, are essential components used in hemodynamic monitoring procedures. Their demand is driven by factors such as the rising prevalence of cardiovascular diseases and the increasing adoption of minimally invasive procedures. The growing preference for cardiac catheterization procedures over traditional open-heart surgeries has led to a higher demand for disposable catheters used in hemodynamic monitoring. Additionally, advancements in technology have resulted in the development of disposable sensors with improved accuracy and reliability, further fueling their adoption.

On the other hand, hemodynamic monitors play a pivotal role in continuously measuring and displaying key parameters such as blood pressure, cardiac output, and oxygen saturation. The market for hemodynamic monitors is driven by factors such as the growing demand for critical care monitoring in intensive care units (ICUs) and operating rooms, as well as the increasing emphasis on patient safety and early detection of hemodynamic instability. For instance, advanced hemodynamic monitors equipped with features such as non-invasive monitoring capabilities and wireless connectivity are gaining traction in healthcare facilities for their ability to provide real-time data and facilitate remote monitoring.

Advantages of Non-invasive Hemodynamic Monitoring

Non-invasive hemodynamic monitoring is witnessing significant growth due to its advantages over invasive techniques, including reduced patient discomfort, lower risk of complications, and ease of use. Advancements in technology, such as wearable sensors and portable monitoring devices, are driving adoption. In addition, minimally invasive hemodynamic monitoring techniques, such as central venous catheterization and arterial catheterization, offer a balance between invasiveness and accuracy, making them suitable for a wide range of clinical scenarios. Furthermore, invasive hemodynamic monitoring, which involves the insertion of catheters into central veins or arteries, remains a basis in critical care settings, including intensive care units (ICUs) and operating rooms, where continuous and accurate hemodynamic monitoring is essential for patient management. The market for invasive hemodynamic monitoring is driven by the increasing prevalence of complex medical conditions, such as sepsis, heart failure, and traumatic injuries, which require precise hemodynamic assessment and tailored interventions.

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Regional Outlook

North America to maintain its dominance by 2035

By region, North America held the largest market share in terms of revenue in 2023 and is expected to dominate the market during the forecast period. This is attributed to its advanced technology infrastructure, strong demand & availability of hemodynamic monitoring products, supportive regulatory environment, and collaborative ecosystem fostering innovation and market growth in the market.

Key Players

• Edwards Lifesciences Corporation
• GE HealthCare
• Baxter
• ICU Medical
• Koninklijke Philips N.V.
• Sramek BioDynamics, Inc.
• OsypkaCardiotek GmbH
• Deltex Medical Group
• Masimo
• Medtronic PLC

The report provides a detailed analysis of these key players in the global hemodynamic monitoring market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Recent Developments

• In June 2023, Mindray Medical and Edward Lifesciences Corporation collaborated to integrate the Edwards FloTrac sensor in Mindray's hemodynamic monitor- BeneVision N. The product is expected to launch in the European market, post-market acceptance in China.
• In May 2023, Inspira Technologies OXY B.H.N. Ltd. announced to develop VORTX, a respiration technology expected to improve hemodynamic performance and reduce oxygenator failures.
• In January 2022, Medtronic received approval from the National Medical Products Association (NMPA) for Evolut PRO TAVR System. The system aids in treating severe aortic stenosis while providing full hemodynamic performance.
• In March 2021, Koninklijke Philips N.V. launched the IntelliVue X3 system. The system provides advanced hemodynamic measurements and improves the clinical focus during different procedures.
• In October 2020, Getinge launched NICCI, an advanced non-invasive monitoring solution to reduce the complications associated with low blood pressure.

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