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(Health-NewsWire.Net, October 30, 2020 ) The report "Hemodynamic Monitoring Systems Market by Product (Disposables and Monitors), Type (Invasive, Minimally Invasive, and Non-invasive), End User (Hospitals, Clinics & Ambulatory Care Center, and Home Care Setting), and Region - Global Forecasts to 2023", The global hemodynamic monitoring systems market is expected to reach USD 1,167.4 million by 2023 from USD 857.8 million in 2018, at a CAGR of 6.4% during the forecast period.
The key factors driving the growth of this market are technological advancements in hemodynamic monitoring systems, increasing research into hemodynamic monitoring systems, influx of VC funding, rising prevalence of cardiovascular diseases & diabetes, rising geriatric population & growing number of surgeries, awareness initiatives by industry players, and government focus on critical care infrastructure & services.
Opportunity: Emerging markets
Emerging markets will offer potential growth opportunities for global players operating in the hemodynamic monitoring systems market in the coming years, mainly due to the increasing patient population across these countries, rising adoption of patient monitoring devices, growing awareness regarding cardiovascular diseases, and improving healthcare infrastructure. Moreover, emerging countries have registered a sustained increase in surgical procedures during the past decade, driven by the growing target patient population, a growing number of CVD-related deaths, and rising medical tourism.
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Challenge: Increasing pricing pressure on market players
Various initiatives are being taken to curtail healthcare costs through price regulations, competitive pricing, bidding and tender mechanics, coverage and payment policies, comparative effectiveness of therapies, technology assessments, and managed-care arrangements, globally. In response to the increasing pressure to reduce healthcare costs, healthcare providers have aligned themselves with group purchasing organizations and integrated health networks, which negotiate for the bulk purchase of medical devices. Bulk purchasing increases pricing pressure and decreases profit margins for players, particularly for small and medium-sized manufacturers that offer a limited range of hemodynamic monitoring systems.
Reforms on payments such as prospective payment systems for hospital care, preferential site of service payments, and value-based purchasing have added to the pressure on medical device companies. Furthermore, hospitals are consolidating, and large group purchasing organizations, hospital networks, and other groups continue to seek ways to aggregate purchasing power. In the UK, for instance, due to BREXIT, economic conditions have been hit, with volatility in currency exchange rates and a rising number of regulatory complexities. These outcomes may adversely affect businesses, financial conditions, or the results of operations in this market.
Key Players
The key players in the global hemodynamic monitoring systems market are Edwards Lifesciences Corporation (US), PULSION Medical Systems SE (Germany), LiDCO Group plc (UK), Cheetah Medical (Israel), Deltex Medical Group Plc. (UK), ICU Medical (US), Osypka Medical GmbH (Germany), CareTaker Medical (US), CNSystems (Austria), NI Medical (Israel), and Uscom (Australia).
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Critical questions the report answers:
Where will all these developments take the hemodynamic monitoring systems market in the long term?
What are the upcoming trends for the hemodynamic monitoring systems market? Which segment in hemodynamic monitoring systems provides the most opportunity for growth?
Who are the leading vendors operating in this market?
What are the opportunities for new market entrants in the hemodynamic monitoring systems market?
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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