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.
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By type, noninvasive hemodynamic monitoring systems segment is expected to grow at the highest CAGR during the forecast periodThe noninvasive hemodynamic monitoring systems segment is expected to grow at the highest CAGR during the forecast owing to the reduction of staffing costs, treatment expenses, and hospital stay; rising incidence of respiratory disorders; fewer complications of noninvasive hemodynamic monitoring as compared to invasive methods; and better portability, ease of use, and better precision.
Monitors segment to witness the highest growth in the forecast periodThe monitors segment is expected to grow at the highest CAGR during the forecast owing to the increasing prevalence of CVD; technological advancements in monitoring systems; increasing funding by government authorities for improving patient-centered care, safety, and efficiency; and the ability of hemodynamic monitors to improve cath lab efficiency.
By geography, Asia Pacific (APAC) to register the highest CAGR in the forecast periodThe APAC region comprising Japan, China, India, and Rest of Asia Pacific offers high-growth opportunities for players in the hemodynamic monitoring systems market. Some of the factors driving market growth in the APAC region are Japan’s growing healthcare industry; extensive government reimbursement coverage for critical cardiac procedures; improving healthcare infrastructure in India and China; high diabetes prevalence in Vietnam, Singapore, Malaysia, China, and India; and government initiatives in Australia and Singapore.
Increasing penetration in the high-growth Asia Pacific market will prove to be an effective growth strategy for companies focusing on increasing their shares in the global hemodynamic monitoring systems market.
