Hemodynamic Monitoring Devices Market To Gain Demand Quickly Due To Rising Prevalence Of Chronic Illness Till 2024: Grand View Research, Inc.
The global hemodynamic monitoring devices market is expected
to reach USD 1.4 billion by 2024, according to a new report by Grand View
Research, Inc. The increasing demand for non-invasive monitoring techniques
coupled with the rising prevalence of chronic illness is expected to drive the
market over the forecast period.
The hemodynamic monitoring market
is influenced by new technologies such as echocardiography, thoracic electrical
bio-impedance and others that maybe used to non-invasively monitor parameters
such as cardiac output, arterial pressure, blood oxygen level, and central
venous pressure.
Furthermore, the rising
population of critically ill patients coupled with defective healthcare
facilities with drawbacks, such as understaffing, is propelling market players
to develop minimal invasive hemodynamic monitoring devices that may be used in
clinical and home care settings. Along with the new product development, the
market is also anticipated to witness the development of technologies that help
in the early diagnosis of shock and sepsis.
Furthermore, efforts by key
industry players to understand critical illnesses at molecular levels leading
to the development of efficient assessment products are expected to be
witnessed over the forecast period. Hence, all these company strategies and the
research conducted are eventually expected to promote market growth over the
forecast period.
North America Hemodynamic
Monitoring Devices Market share, by product, 2014 - 2024 (USD Million)
Browse full research report on
Hemodynamic
Monitoring Devices Market
Further key findings from
the report suggest:
- The
disposables segment is anticipated to be the largest segment by 2024. The
rising sale of hemodynamic monitoring systems and increasing applications
of these systems in home care settings, hospitals, and clinics are expected
to boost the segment growth.
- The
non-invasive devices segment is expected to be the fastest growing
hemodynamic monitoring market. Risks that include the development of
arrhythmias due to the use of pulmonary artery catheter and the
development of other methodologies that measure the cardiac output, such
as echocardiographs, are the vital impact rendering drivers.
- Asia Pacific
is anticipated to be the fastest growing regions and is anticipated to
contribute to about 20.0% of the global revenue by 2024. The strengthening
of the distribution channels by companies and the registration of products
in countries, such as China, India, Australia, and others, are expected to
support the growth over the forecast period. For instance, LiDCO Group, in
their 2016 prelim report emphasized on its strategy of appointing new
distributors for the Australian and South East Asian region.
- Major
industry players are Edward Lifesciences, LiDCO Group Plc, Deltex Medical,
Philips Medical, GE Healthcare, Noninvasive Medical Technologies, Inc.,
Tensys Medical, Inc., Cardio-Dynamics International, and Drager Medical,
Inc. As mentioned above, the new product development is expected to drive
the market over the forecast period.
- For instance,
in March 2016, the LiDCO Group received the U.S. FDA approval for the
LiDCO unity and launched the product in the European region. Along the
same time, LiDCO also succeeded in registering itself in China to explore
untapped territories and increase their global presence.
For
more information: http://www.grandviewresearch.com
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