Hemodynamic monitoring system permits constant movement observation of pressure as well as on the veins, heart, and arteries. It also allows the blood flow measurement and the presence of oxygen amount in the blood. Hemodynamic monitoring system is a proficient assemblage and examination of qualitative as well as quantitative data of functions associated with cardiopulmonary.
A recently published analysis report on the global hemodynamic monitoring systems market by Persistence Market Research, titled “Global Market Study on Hemodynamic Monitoring System: Growing Demand for Critical Congenital Heart Disease Screening to Drive the Market by 2021,” illustrates that the global market for hemodynamic monitoring systems market in the year 2014 accounted for US$ 328.7 million and is predicted to grow at a CAGR of 6.5% in the forecast period from 2014 to 2021, to reach an expected value worth US$ 508.4 million in the year 2021. The report takes into description of various recent developments influencing the market growth of hemodynamic monitoring systems globally.
Growing concerns associated with the usage of invasive techniques, specifically pulmonary artery catheter for the measurement of cardiac output which has provided a different methods for evaluating variables of hemodynamic. Cardiac surgeons are gradually looking for fewer invasive approaches towards surgery of mitral valve. In order to analyze the growth in market demand for hemodynamic monitoring systems, the report has segmented the global market based on device type, application type and end-user type.
Revenue related contribution by the hospitals was more than 40% in the year 2014 and is predicted to grow over 42% by the end of 2021, exhibiting a considerable CAGR of 7.3%. Segment of home care settings is projected to register maximum CAGR in the forecast period from 2014 to 2021, due to rising adoption of hemodynamic monitoring systems by this segment. The invasive segment of hemodynamic monitoring segment valued for market share of more than 30% in the year 2014 but is anticipated to lose its market share by the end of 2021.
Key market drivers impacting the market growth of the hemodynamic monitoring systems globally include growing incidence of lifestyle diseases & respiratory disorders, budding demand for screening of CCHD which is known as critical congenital heart disease, initiatives taken by private sector as well as government for reducing the cost of healthcare and the expanding population of geriatric patient.
Some global leaders in hemodynamic monitoring systems industry such as Argon Medical Inc., ICU Medical, PULSION Medical Systems, Teleflex Incorporated, Osypka Medical GmbH., Edwards Lifesciences Corporation, Deltex Medical Group, LiDCO Group Plc., Nihon Kohden Corporation and Cheetah Medical, among others building new ways for improving their technology so that they can retain their market competitiveness.
A regional overview of the global market for hemodynamic monitoring systems mentioned in the report has classified the growth of the market into North America, APAC, Europe, Latin America and the MEA. In 2014, North America region, in terms of revenue contribution was the largest market, exhibiting 30.5% market share of the hemodynamic monitoring systems. This is associated with the growing no. of cardiovascular as well as cancer patients, particularly in the US Europe region is predicted to lose 40 BPS in the forecast period from 2014 to 2021. Also, among these regions, APAC is expected to grow at maximum CAGR over the forecast period.
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