The hemodynamic monitoring systems market is growing pervasively mainly due to the growing rate of cardiovascular disorders, worldwide. In the year, the hemodynamic monitoring systems market had valued at USD 780 MN which is expected to reach USD 1,054 MN by 2023, registering 7.3% CAGR during the forecast period (2017-2023).
Over the last couple of decades, incidence of diseases and disorders related to the heart and blood pressure have increased drastically. Sadly, the figure is growing every year. Although a number of precautionary measures and innovative therapies are taken care of, the prevalence of these diseases is rising continuously, becoming a major concern. Such factors are commutatively contributing to the growth of the hemodynamic monitoring systems market, globally.
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Increasing technological advancements in the field of heart care drive the market growth. The global hemodynamic monitoring systems market is heading with the pervasively rising number of patients suffering from arterial diseases led by the sedentary lifestyle.
On the flip side, factors such as stringent government regulations and unfavorable reimbursement policies in some countries are acting as a headwind that is obstructing the market growth. Besides, the lack of skilled healthcare professionals is expected to the hamper the market growth.
Hemodynamic Monitoring Systems Market – Segmentations
The global hemodynamic monitoring systems market has been segmented on the basis of product, type, end-use, and region.
By product, the market is segmented into disposables, monitors, minimally invasive, and others. Among these, the segment – monitors accounts for the largest segment.
By type, the market is segmented into invasive, non-invasive, and others. Out of these, the Invasive accounts for the major segment.
By end-user, the market is segmented into hospitals, clinics, ambulatory care centers, home care settings, and others. The segment hospitals and clinics is the largest segment.
By region, the market is segmented into the Americas, Europe, Asia-Pacific, and Middle East & Africa. Out of these, the Americas region dominates the market, whereas the Asia Pacific region accounts for the fastest growing region.
Hemodynamic Monitoring Systems Market – Geographical Analysis
North America accounts for the leading share in the market for the hemodynamic monitoring systems. Factors positively impacting the market growth in the region include the high per capita health care expenditures and rapid uptake of advanced technologies in the growing healthcare sector.
Moreover, the rising geriatric population along with the increasing prevalence of high/low BP, cardiovascular diseases, hypertension, and obesity issues that are leading to heart diseases & disorders are fuelling the market growth in the region.
Furthermore, the presence of well-established market players along with the growing number of patients suffering from major/minor heart issues is positively impacting the growth in the regional market.
The Europe hemodynamic monitoring systems market accounts for the second-largest market, globally. Attributing to the increasing healthcare expenditure, availability of advanced treatment facilities, and government initiatives, the market is estimated to register a remarkable CAGR during the forecast period (2017-2023). Increasing cardiovascular issues in the region are becoming paramount concerns which, in turn, are contributing to the market growth.
The hemodynamic monitoring systems market in the Asia Pacific region is rapidly emerging as a promising market. Growing number of aging populaces alongside the prevalence of cardiac disorders growing at an alarming rate are driving the market in the region. Also, some of the other dominant factors such as the faster adoption of healthcare technology, government initiatives to improve the quality of healthcare, favorable insurance, and reimbursement policies are fostering the growth of the APAC market.
Hemodynamic Monitoring Systems Market – Key Players
Some of the market leaders profiled in the report are Argon Medica, Teleflex Incorporated, Osypka Medical, Edwards Lifesciences Corporation; PULSION Medical Systems SE, LiDCO Group plc, Cheetah Medical, Deltex Medical Group Plc., ICU Medical, Osypka Medical GmbH, CareTaker Medical, CNSystems, NI Medical, and Uscom.
Innovation, mergers & acquisitions, product launch, and regional expansion remain the key strategies for these players to maintain their market positions.