Hemodynamic Monitoring Devices Market - By Product (Disposables, Monitors), System Type (Invasive, Minimally Invasive, Non-invasive), End-use (Hospitals, Ambulatory Surgical Centers, Homecare Settings) – Global Forecast 2024 – 2032

Hemodynamic Monitoring Devices Market Size

Hemodynamic Monitoring Devices Market size was valued at around USD 1.5 billion in 2023 and is estimated to observe around 5.9% CAGR from 2023 to 2032. Hemodynamic monitoring devices are medical instruments designed to measure and assess various aspects of the cardiovascular system's functioning. These devices provide real-time information about the heart's pumping ability, blood circulation, and other hemodynamic parameters.
 

The growth of hemodynamic monitoring devices can be attributed to various factors, including ongoing advancements in hemodynamic monitoring devices, increasing prevalence of chronic diseases, rising demand for telehealth services, continual growth of healthcare expenditure, and an escalating inclination towards remote patient monitoring devices, which accounted for USD 14 billion in 2022, among other contributing factors.
 

Furthermore, anticipated market expansion is attributed to multiple factors, including the rising incidence of cardiovascular, chronic obstructive pulmonary (COPD), and respiratory ailments, the emergence of innovative non-invasive & minimally invasive systems, and swift advancements in surgical procedures. For instance, in 2021, according to the American Lung Association, COPD prevalence in the U.S. was approximated at 6.5% of the overall population, which is estimated 14.2 million.
 

Hemodynamic Monitoring Devices Market Trends

Market expansion is anticipated to be propelled by the introduction of innovative hemodynamic monitoring techniques. Recently introduced devices are poised to enhance the postoperative and anesthesia care of cardiovascular patients. These devices offer precise measurements capable of identifying any hemodynamic changes, elucidating the underlying causes, and optimizing therapeutic interventions.
 

• The shift from static to dynamic variable monitoring and the advancement of minimally invasive monitoring approaches are projected to foster market growth in the forecast period.
   
• For instance, in March 2021, Koninklijke Philips N.V. unveiled the IntelliVue X3 system, featuring advanced hemodynamic measurements to enhance clinical focus across various medical procedures.
   
• Furthermore, the escalating preference for remote cardiac monitoring has also stimulated increased focus on research and development, aiming to create innovative technologies that provide less risky solutions.
   

Hemodynamic Monitoring Devices Market Analysis

Based on product, the market is segmented into monitors and disposables. The monitors segment is estimated to account for USD 918.5 million in 2023.
 

• Monitors play a pivotal role in monitoring systems as they visually present all the parameters being assessed by healthcare professionals.
   
• Furthermore, the increasing investment from leading manufacturers to create patient-centric care and introduce technologically advanced products to the market is fueling the demand for hemodynamic monitors.
   
• Moreover, the disposables segment is projected to experience a rapid growth during the forecast period. This upsurge can be linked to heightened collaborations in the market aimed at enhancing patient monitoring.

Based on system type, the hemodynamic monitoring devices market is segmented into non-invasive, invasive, and minimally invasive. The non-invasive segment accounted for a revenue share of 52.3% in 2023 and is estimated to follow similar trend over the coming years.
 

• Recent advancements in blood pressure monitoring have particularly focused on the continuous noninvasive measurement of blood pressure. These innovations enable real-time assessment of a patient's condition and provide ongoing monitoring of blood pressure.
   
• Moreover, these devices are frequently utilized by non-critically ill patients that necessitate continuous assessment. Additionally, continuous advancements in this field contribute significantly to market progression.
   
• For instance, in October 2020, launch of NICCI by Getinge, an innovative non-invasive monitoring solution designed to mitigate complications associated with low blood pressure. This product launch enabled the company to accelerate its business expansion.
   

The hemodynamic monitoring devices market by end-use is categorized into hospitals, ambulatory surgical centers, homecare settings, and other end-users. The hospitals segment accounted for around USD 615 million revenue size in 2023.
 

• The dominance in market share can be attributed to hospitals' capacity to effectively care for high-acuity patients, including those facing conditions such as heart failure, sepsis, and shock.
   
• As per the National Center for Biotechnology Information (NCBI), approximately 1.7 million individuals experience sepsis annually in the U.S.
   
• Furthermore, the requirement for precise hemodynamic monitoring devices is heightened in hospitals, particularly due to the performance of invasive surgeries.

North America hemodynamic monitoring devices market accounted for USD 603.6 million revenue in 2023 and is predicted to witness substantial market growth.
 

• The large market share is correlated to a sophisticated healthcare infrastructure, a heightened prevalence of cardiovascular diseases, swift technological progress, substantial healthcare expenditure, and the expanding elderly population.
   
• As per information from the Rural Health Information Hub, there is an anticipated rise of 18 million in the geriatric population in the U.S. from 2020 to 2030. Additionally, the same source reports that 90% of adults aged over 65 are expected to develop one or more chronic conditions, thereby promoting demand for hemodynamic monitoring devices industry.
   

Hemodynamic Monitoring Devices Market Share

The hemodynamic monitoring devices industry is competitive in nature, with several large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced products based on different technologies is among a key market strategy. Some of the leading industry players including Edwards Lifesciences Corporation, GE HealthCare, Medtronic plc, among others have a notable presence in the market.
 

Hemodynamic Monitoring Devices Market Companies

Some of the eminent market participants operating in the hemodynamic monitoring devices industry include:

• Becton, Dickinson and Company
• Baxter International Inc.
• Deltex Medical Group PLC
• Edwards Lifesciences Corporation
• GE HealthCare
• ICU Medical, Inc.
• Koninklijke Philips N.V.
• Masimo Corporation
• Medtronic plc
• Nihon Kohden Corporation
• OsypkaCardiotek GmbH
• Siemens Healthineers AG
• Sramek BioDynamics, Inc.
   

Hemodynamic Monitoring Devices Industry News:

• In June 2023, Mindray Medical and Edward Lifesciences Corporation joined forces to incorporate the Edwards FloTrac sensor into Mindray's hemodynamic monitor, BeneVision N. Following market acceptance in China, the product is anticipated to be introduced to the European market. This merger expanded Mindray Medical's hemodynamic monitoring devices portfolio.
   
• In July 2022, Caretaker Medical obtained approval from the U.S. Food and Drug Administration (FDA) to incorporate four additional parameters into its VitalStream wireless blood pressure and hemodynamic platform. These newly added parameters encompass stroke volume, cardiac output, heart rate variability, and left ventricular ejection time. The addition of new parameters enhanced the growth potential of the company.
   

Hemodynamic monitoring devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

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Market, By Product

• Disposables
• Monitors

Market, By System Type

• Non-invasive
• Invasive
• Minimally invasive

Market, By End-use

• Hospitals
• Ambulatory surgical centers
• Homecare settings
• Other end-users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa