The global hemodynamic monitoring systems market is expected to reach USD 1,167.4 million by 2023 from USD 857.8 million in 2018, at a CAGR of 6.4%.
Growth in the hemodynamic monitoring systems market can be attributed to technological advancements in hemodynamic monitoring systems, increasing research into hemodynamic monitoring systems, influx of VC funding, rising prevalence of cardiovascular diseases & diabetes, rising geriatric population & growing number of surgeries, awareness initiatives by industry players, and government focus on critical care infrastructure & services.
However, risks associated with invasive hemodynamic monitoring, such as sepsis, bleeding, hemorrhage, thrombosis, air embolism, and pulmonary capillary necrosis is expected to restrain the growth of this market during the forecast period.
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The hemodynamic monitoring systems market is segmented on the basis of product, type, end user, and region. On the basis of product, the global hemodynamic monitoring systems market is segmented into two broad categories—monitors and disposables. The monitors segment is expected to grow at the highest CAGR during the forecast period owing to the technological advancements in monitoring systems; increasing prevalence of CVD; increasing funding by government authorities for improving patient-centered care, safety, and efficiency; and the ability of hemodynamic monitors to improve cath lab efficiency.
On the basis type, the market is segmented into invasive, minimally invasive, and noninvasive systems. The noninvasive hemodynamic monitoring systems segment is expected to grow at the highest CAGR during the forecast owing to the rising incidence of respiratory disorders; fewer complications of noninvasive hemodynamic monitoring as compared to invasive methods; reduction of staffing costs, treatment expenses, and hospital stay; and better portability, ease of use, and better precision.
On the basis of end user, the global hemodynamic monitoring systems market is categorized into hospitals, clinics and ambulatory care centers (ACCs), and home care settings. The clinics and ACCs segment is expected to grow at the highest rate owing to the growing number of ambulatory care centers, increasing reimbursements for ACCs, increasing number of patients visiting clinics & ACCs, and growing initiatives by governments.
Geographically, North America is expected to dominate the global hemodynamic monitoring systems market in 2018. The rising geriatric population and the increasing prevalence of diabetes and hypertension are some of the key factors driving the market for hemodynamic monitoring systems in North America.
