Hemodynamic Monitoring Devices Market – By Product, By System Type, By End Use – Global Forecast, 2024 to 2032

Hemodynamic Monitoring Devices Market Size

The global hemodynamic monitoring devices market size was valued at around USD 1.4 billion in 2023 and is estimated to grow at 6.7% CAGR from 2024 to 2032. Hemodynamic monitoring systems allow for real-time monitoring of the hemodynamical state and offer monitoring of some important physiological variables. These systems are increasingly being used to assess circulatory system function in patients with various heart conditions such as heart failure or any other cardiovascular ailment.
 

With the growing population suffering from heart diseases, hypertension, and diabetes, the Hemodynamic monitoring device market is expected to grow as well. Devices used in hemodynamic monitoring support and enable treatments related to cardiac assistance. According to U.S. Department of Health, about 80 million U.S. adults have some form of cardiovascular disease, in 2022, the CDC revealed that heart disease is the leading cause of death among men and women as well as across most ethnic groups. This along with Coronary heart disease accounting for 371,506 deaths in the same year further indicates the increasing population of patients. Such growth in the underlying conditions will lead to the growth of the hemodynamic monitoring device market.

The growth in the market is further boosted by the cutting-edge technology including the use of monitoring devices, which enhances patient's comfort as well as the accuracy of the data.
 

Hemodynamic Monitoring Devices Market Trends

• A proponent for the market has been the increase in the cases of CVDs such as heart failure, coronary artery disease and hypertension. An increase in the global population along with its age makes several people prone to CVDs which require consistent supervision particularly in ICUs and emergency care.
   
• In addition, several major surgeries, trauma along with life-threatening infections like sepsis also increase the requirement for such devices as they require close supervision of hemodynamic parameters to improve the efficacy of the treatment.
   
• Moreover, with the introduction of wireless technology, the functional capabilities of hemodynamic monitoring devices have remarkably improved. For example, data transfer in real-time enables monitoring to be carried out and data exchange to be conducted regardless of location thereby allowing timely action where necessary reducing the need for hospital visits thereby growing the market.
   

Hemodynamic Monitoring Devices Market Analysis

Based on product, the market is bifurcated into disposables and monitors. The disposables segment dominated the market with the largest revenue of USD 437.9 million in 2023.
 

• Single-use disposables are essential in reducing the chances of cross-infection and HAIs. Due to the patients being immunocompromised, they are required to be catheterized and have pressure transducers and electrodes which should be sterile and used once to minimize chances of transmitting pathogens.
   
• For example, from the data provided by WHO in 2022, it was stated that 7 out of 100 patients in acute care hospitals in high-income countries and 15 out of every 100 patients in low to mid-income countries acquired at least one type of HAI.
   
• Moreover, 1 in 10 patients affected by an HAI dies as a result. Such statistics reinforce the necessity for more sophisticated, effective, and trustworthy hemodynamic monitoring devices that use disposable parts because such devices lessen the likelihood of cross-infection and hacking.
   
• The market is hence fuelled by all these factors, thus making the disposable components vital for healthcare solutions.

Based on system type, the hemodynamic monitoring devices market is segmented into non-invasive, invasive, and minimally invasive. The non-invasive segment dominated the market with the largest revenue of USD 719.2 million in 2023 and is expected to grow at a CAGR of 6.8% over the forecast period.
 

• Patients and healthcare practitioners seem to be showing a preference toward less or non-invasive options. For this reason, there seems to be an increasing trend toward the utilization of non-invasive monitoring hemodynamic devices as the risk of complications is lowered, the patient's discomfort is less, and the recovery time is decreased in relation to conventional invasive monitoring means.
   
• Further, the development of sensor technology, wireless communications and data processing improves the quality, reliability and performance of the non-intensive hemodynamic monitoring devices.
   
• There are new devices which use bioimpedance, bioreactance and photoplethysmography (PPG) biosensors. These offers clinicians precise information related to cardiac output, stroke volume, blood pressure and other essential metrics. Such factors are expected to enable the growth of business.
   

Based on end use, the hemodynamic monitoring devices market is segmented into hospitals, ambulatory surgical centers, homecare settings, and other end users. The hospitals segment dominated the market with the largest revenue share of 64.1% in 2023 and is expected to grow at the fastest CAGR over the forecast period.
 

• These growths are attributed to the increase in the population, urbanization, as well as the invention of new medical technologies which cause the creation of new hospitals and the enlargement of the current ones.
   
• As a result, a huge increase in the demand of hemodynamic monitoring devices, which are capable of providing accurate data regarding cardiovascular health in real-time, is observed. These medical devices not only enable the management of complex medical conditions but play a role in enhancing the patient outcome as well.
   
• In addition, there are increased investments being made to the Asia Pacific, Latin America and Africa regions especially in the healthcare infrastructure, which include the building and upgrading of facilities.
   
• This will in turn result in growth of the global healthcare infrastructural advancement which will increase the pulls for hemodynamic monitoring devices across the regions which are likely to include several hospitals.

U.S. dominated the North American market with the largest revenue of USD 470.5 million in 2023.
 

• The rising incidences of chronic diseases such as cancer, cardiovascular and neurological disorders in the U.S., which further necessitates the use of advanced monitoring systems.
   
• Since there is a high prevalence of these conditions, accurate and timely management of the conditions through appropriate hemodynamic monitoring becomes crucial.
   
• For example, between 1980 and 1986 in the U.S., about 795,000 Americans had a stroke, and 137,000 of these resulted in death (NIH). Of those, 610,000 were new cases, while 185,000 survivors were at risk of future strokes. Effective preventative strategies require accuracy and reliability in continuous hemodynamic monitoring, which can be achieved through the use of both invasive and non-invasive technologies.
   
• Consequently, the U.S. greatly exceeds other high-income countries in terms of total spending on healthcare, and this creates additional motivation for the creation of high-end hemodynamic monitoring devices.
   

The hemodynamic monitoring devices market in UK is expected to experience significant and promising growth from 2024 to 2032.
 

• The situation in the UK is even more serious, as more and more elderly people are suffering from chronic illness, and it becomes necessary to use advanced hemodynamic monitoring methods, especially in intensive and postoperative care areas.
   

Japan hemodynamic monitoring devices market is anticipated to witness lucrative growth between 2024 – 2032.
 

• Furthermore, the Statistics Bureau of Japan has reported an elderly population over the last few decades; many of them are over the age of 65, which accounts for approximately 29.1% of the total population recorded in 2021. Combined with factors such as rising cases of hypertension, cardiovascular disorders, and heart ailments, the demand for better hemodynamic monitoring devices is quickly on the rise to treat and control these issues efficiently. Japan's elderly population is growing.
   
• Further, investing in digital health, smart medical devices such as hemodynamic monitors, and other such innovations would help with the overall positive expansion of the market for smart devices.
   

The hemodynamic monitoring devices market in Saudi Arabia is expected to experience significant and promising growth from 2024 to 2032.
 

• Due to the country's increasing burden of cardio diseases, properly employing these monitoring systems is important in curbing the growing burden in the country. These tools have a greater relationship in dealing with patients suffering from heart diseases since better monitoring translates to better management and outcomes.
   

Hemodynamic Monitoring Devices Market Share

The market is very competitive, dynamic, and growing with robust technological changes and competition occurring between the major players. These include Edwards Lifesciences Corporation, Koninklijke Philips N.V., GE HealthCare, Siemens Healthineers AG, who are strategizing further through innovation to adopt new hemodynamic monitoring device technologies, new product ranges, and new business partnerships. The market contestants focusing on the established opportunities and meeting the existing challenges are set for victory in the competitive market.
 

Hemodynamic Monitoring Devices Market Companies

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

• Abbott Laboratories
• Baxter International
• Canon Medical Systems Corporation
• Deltex Medical Group
• Edwards Lifesciences Corporation
• GE HealthCare Technologies
• Getinge
• ICU Medical
• Koninklijke Philips N.V.
• Masimo Corporation
• Nihon Kohden Corporation
• OSYPKA MEDICAL
• Siemens Healthineers
   

• Edwards Lifesciences Corporation: Historical leader in clinical innovations and training, Edwards Lifesciences provides clinicians with state of the art hemodynamic monitoring devices that significantly improve patient care during invasive and surgical procedures.
   
• GE HealthCare Technologies: GE HealthCare makes the top list with its CARESCAPE systems that integrate hemodynamic monitoring systems with wireless technology for improved patient management capabilities.
   
• Koninklijke Philips N.V.: Emphasizing interconnectivity in everything they do, Philips designs hemodynamic monitoring devices that are easy to use within existing hospital workflows and management systems of critically ill patients.
   

Hemodynamic Monitoring Devices Industry News:

• In November 2021, Koninklijke Philips N.V. announced the acquisition of Cardiologs, a France-based medical technology company specializing in cardiac diagnostics through artificial intelligence (AI) and cloud technology. This acquisition enhanced Philips' cardiac monitoring and diagnostics capabilities by integrating Cardiologs' innovative software technology, electrocardiogram (ECG) analysis, and reporting services.
   
• In February 2021, Masimo Corporation announced that it had successfully completed the acquisition of LiDCO Group Plc, a prominent provider of advanced hemodynamic monitoring solutions. This acquisition boosted Masimo’s portfolio by integrating LiDCO’s advanced hemodynamic monitoring technologies, thereby strengthening its position in the market and expanding its capabilities in critical care and patient management.
   

The hemodynamic monitoring devices market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Million from 2021 – 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
  • Spain
  • Italy
• Asia Pacific 
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America 
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa 
  • South Africa
  • Saudi Arabia
  • UAE