Critically ill patients require continuous monitoring of their vital parameters. This is done by direct pressure monitoring systems, which are also known as hemodynamic systems. The main function of these systems is to monitor cardiac activity. The hemodynamic systems give information about blood pressure, blood volume, and fluid balance. This report contains a detailed analysis of the types of systems, application, and products that are available in the hemodynamic monitoring market.
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Some of the major players of the market are:
Cheetah Medical, CN Systems, Edwards Lifesciences, Evena Medical, Getinge AB, ICU Medical, Koninklijke Philips NV, Lidco Group, Schwarzer Cardiotek, Tensys Medical, Uscom, amongst others.
The European market for hemodynamic monitoring is expected to register a CAGR of around 5.0% over the forecast period, 2019-2024.
Factors that are augmenting the growth of the market in the European region are increasing critically ill geriatric population, the rise in the prevalence of cardiac disorders and diabetes, and increasing demand for home-based and non-invasive monitoring systems.
In Europe, the Ageing Report is published every three years by the Ageing Working Group of the Economic Policy Committee (EPC) and the European Commission’s Directorate-General for Economic and Financial Affairs (DG ECFIN), based on a mandate by the Council. As per the latest report by EPC (2018), the cost of ageing in the region is believed to grow by 1.7% to 26.7% of the GDP, till 2070.
This long-term analysis was done to understand the negative impact of ageing in the European region. As the ageing population is increasing, there is a rising demand for monitoring tools, which is accelerating the growth of the hemodynamic monitoring market.
Certain factors, such as technological advances in the healthcare industry, along with its rapid adoption, are also fuelling the market.
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Key Market Trends
Hospital-based Monitoring Systems are Expected to Grab the Largest Market Share in the Application Segment
In the application segment of the market, hospital-based monitoring systems are believed to have the largest market share in the coming future.
Hospitals face multiple challenges in assessing multiple blood parameters in intensive care units, emergency rooms, and other departments. A majority of critically ill patients admitted to the ER are anemic, with over a third requiring a blood transfusion. Repeated blood draws have been observed to increase organ dysfunction and morbidity in such patients. Patients with anemia are more likely to have in-hospital complications, including heart failure, recurrent ischemia, re-infarction, cardiogenic shock, stroke, major bleeding, and hypoxia. Therefore, in hospitals, particularly in intensive care and emergency units, continuous monitoring of hemodynamics can optimize diagnosis, and minimize complications and hospitalization time.
Owing to the importance of hemodynamic monitors in hospitals and the rising need for the same, for better care provision, the segment is expected to grow.
The market is moderately competitive, with the presence of some big players, such as Edward Lifesciences, Getinge Group, Koninklijke Philips NV, ICU Medical, and Lidco Group. Additionally, there are few smaller players in the market that are holding sufficient market share. Due to the growing healthcare industry and the continuous technological advances that are being done to provide medical care, new companies are expected to enter the market in the coming future.
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Table of Contents:
2 Hemodynamic Monitoring Market Research Methodology
3 Executive Summary
4 Hemodynamic Monitoring Market Dynamics
5 Hemodynamic Monitoring Market Segmentation
6 Competitive Landscape
7 Hemodynamic Monitoring Market Opportunities And Future Trends
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