NEW YORK, Nov. 19, 2021
NEW YORK, Nov. 19, 2021 /PRNewswire/ -- As per Persistence Market Research's latest revised industry analysis, the global hemodynamic monitoring systems market was valued at over US$ 1.5 Bn in 2020, and is expected to exhibit a CAGR of around 5.3% over the forecast period (2021-2031).
Cardiovascular diseases such as congestive heart failure are usually long-term and cost-incurring conditions. Incidence of cardiac disorders accounts for over 32 percent of all deaths worldwide, as per WHO. Lifestyle-related diseases and ageing population function as two primary drivers for cardiovascular diseases globally.
With repeated assessment of circulatory function over time, perturbations with regards to physiological stress such as tissue hypoxia associated with surgery can be easily monitored and prevent cases of morbidity or mortality. This factor justifiably drives demand for hemodynamic monitoring systems, and is followed by repeated and advanced technological modifications to pre-existing monitoring systems.
Growth of hemodynamic monitoring systems is supported by rising health expenditure by governments as well as private players, especially in developed economies. Growth is set to lead to management of cardiac output with minimal continuous observation and a patient- and physician-adaptable interface to provide feedback and alerts predicting hemodynamic instability.
Although the market has witnessed advancement of technology in terms of hemodynamic monitoring, lack of trained professionals for operation of instruments poses a restrictive factor for market growth.
Opportunistic growth awaits throughout the forecast period in terms of new developments in non-invasive hemodynamic monitoring. Apart from this, emergence of implants for hemodynamic monitoring are expected to enhance the adoption of remote monitoring in personal and homecare settings. Increasing patient population in emerging economies is expected to drive demand for hemodynamic monitoring systems over the forecast period.
Considering consolation activities in the global market, mergers and acquisitions have emerged as one of the key growth strategies by market players. Prominent players are strengthening their product ranges through acquisitions and reaching out to key as well as emerging markets.
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Key Takeaways from Market Study
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"Growing prevalence of cardiovascular disorders and diverse applications of hemodynamic monitoring systems in critically-ill patients are anticipated to boost market expansion," says an analyst of Persistence Market Research.
Acquisitions, mergers, expansions, and product launches are key strategies adopted by manufacturers and integrators for development of advanced technology integrated systems.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the hemodynamic monitoring systems market in its latest study, presenting historical demand assessment of 2016 – 2020 and projections for 2021 – 2031.
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