December 07, 2022 06:22 ET | Source: The Insight Partners The Insight Partners
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New York, Dec. 07, 2022 (GLOBE NEWSWIRE) — According to The Insight Partners new research study on “Hemodynamic monitoring System Market Size, Share, Growth, Trends and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Product, and End User,” the market is expected to grow from USD 1.41 billion in 2021 to USD 2.17 billion by 2028; it is estimated to grow at a CAGR 6.4% during 2022–2028.
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Global Hemodynamic monitoring System Market Report Scope, Segmentations, Regional & Country Scope:
North America accounted for a major share of the global hemodynamic monitoring system market in 2021. The shift toward minimally invasive medical procedures, increase in health expenditure, rise in cardiovascular disease prevalence, and increase in geriatric population are projected to accelerate the growth of the hemodynamic monitoring system market. Market players are adopting organic and inorganic growth strategies for market development in the region. For instance, in February 2021, Masimo completed the acquisition of Lidco. Masimo acquired 100% of Lidco, a provider of advanced hemodynamic monitoring tech. Lidco manufactures and sells equipment for measuring cardiac output, stroke volume, and systematic vascular resistance. It also covers blood monitoring, intravenous fluid monitoring, and vasoactive support.
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Global Hemodynamic Monitoring System Market: Competitive Landscape and Key Developments
Koninklijke Philips NV, Osypka Medical GmbH, General Electric Co, Edwards Lifesciences Corporation, Schwarzer Cardiotek, Getinge Group, Deltex Medical, ICU Medical INC., Masimo, and Baxter International Inc are among the key companies operating in the hemodynamic monitoring system market.
Leading players are adopting strategies such as the launch of new products, expansion and diversification of their market presence, and acquisition of a new customer base for tapping prevailing business opportunities.
Hemodynamic Monitoring System Market is Witnessing High Growth Due to Rising Prevalence of Cardiovascular Diseases Worldwide
Cardiovascular diseases (CVDs) are the leading cause of death across the globe, causing millions of deaths every year. According to the 2022 heart disease & Stroke Statistical Update Fact Sheet, Global Burden of Disease, in 2020, approximately 119.1 million people died of cardiovascular diseases. It also stated that the global prevalence of stroke and ischemic stroke in 2020 was 89.1 million and 68.2 million, respectively. The major causes of cardiovascular diseases are hypertension, obesity, and diabetes.
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The prevalence of cardiovascular diseases is also high in North America. As per the National Center for Chronic Disease Prevention and Health Promotion, Division for Heart Disease and Stroke Prevention, ~697,000 people the US died due to heart disease, which is one in every five deaths. Moreover, according to the American Heart Association, by 2035, over 130 million Americans, or 45.1% of people, are likely to have some form of cardiovascular disease. Additionally, cardiovascular diseases are the leading cause of mortality and a major cause of morbidity in Europe. CVD causes 45% of total deaths in Europe and 37% in the EU.
Furthermore, more than 75% of CVD deaths occur in low- and middle-income countries where high blood pressure is the most important risk factor for CVDs. As per the study “Global Burden of Disease Study 2019,” CVD was the leading cause of death in Asia in 2019, causing 10.8 million deaths (approximately 35% of the total deaths) in Asia. Thus, the rising prevalence of cardiovascular diseases is driving the hemodynamics monitoring market.
Global Hemodynamic monitoring System Market: End User Overview
Based on end user, the hemodynamic monitoring system market is segmented into hospital, cath lab, home care, and ambulatory surgical center. The hospital segment held the largest market share in 2021, and it is further expected to be the largest shareholder in the market by 2028. Hospitals are the most significant entities that have all the facilities available. Hospitals also provide various diagnostics and treatment facilities that can be reimbursed under insurance claims. Various hospitals offer facilities such as proper care, physiotherapy, and guidance that assist in the faster recovery of patients. Also, hospitals have modernized equipment and are installed with integrated information technologies.
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Hospitals offer all the diagnostics and treatments associated with cardiovascular diseases. Cardiovascular diseases require continuous monitoring and better nursing services, which are largely provided by hospitals. Therefore, owing to all the factors mentioned above, the market for the hospitals segment is likely to grow in the coming years.
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