Market Trends of North America Hemodynamic Monitoring Industry
Non-invasive Monitoring Systems is Expected to hold Significant Market Share in the System Segment
Non-invasive monitoring systems include a standard five-lead electrocardiogram, non-invasive BP measurement, pulse oximetry, and capnography along with the nasopharyngeal and bladder temperature. Factors such as an increasing number of geriatric populations and a growing number of heart diseases are anticipated to stimulate the demand for non-invasive monitoring systems. For instance, according to the U.S. Census Bureau 2021 update, more than 54 million adults of age group 65 and older were living in the United States in 2021, accounting for about 16.5% of the total United States population. Such an increase in the geriatric population is expected to drive the market's growth over the forecast period.
Additionally, the increasing initiatives, product launches, and strategies by the government and market players are expected to contribute to market growth. For instance, in March 2021, Fifth EyeTM, a provider of intuitive real-time clinical analytics announced that it has received U.S. Food and Drug Administration (FDA) De Novo classification for its Analytic for Hemodynamic Instability (AHI). AHI provides reliable, noninvasive, and continuous monitoring of hemodynamic decompensation through ECG waveform analysis instead of intermittent static vital signs to identify at-risk patients across hospital settings, including remotely. Such an initiative is expected to drive the market growth over the forecast period.
United States is Expected to Show a Significant Growth of the Market Over the Forecast Period
The United States is expected to grow significantly in the overall North America hemodynamic monitoring market throughout the forecast period. The growth may be attributed to the rising incidence of cardiovascular diseases, well-established insurance policies, and the availability of advanced healthcare infrastructure. For instance, according to the CDC data reviewed in October 2022, for every 40 seconds, a heart attack occurs in the United States. It also stated that about 805,000 Americans experience a heart attack each year. Hence, the rising burden of cardiovascular diseases in the coming years is likely to create demand for hemodynamic monitoring devices thereby aiding to market growth.
Additionally, various initiatives taken by the key market players such as product launches, clearance, mergers, acquisitions, and partnerships are expected to boost the market growth in the United States. For instance, in September 2021, Caretaker Medical landed FDA clearance for its blood pressure and hemodynamic patient monitoring system VitalStream. Thus, owing to the above factors, the segment is expected to show a healthy growth rate over the forecast period.
