Cardiac Output Monitoring Devices Market: Overview
- Cardiac output is the amount of blood the heart pumps through the circulatory system in minute. Cardiac output is determined by stroke volume and heart rate.
- Rise in geriatric population globally, increase in prevalence of cardiovascular disorder, and technological advancements in cardiac output monitoring devices are major factors anticipated to drive the global cardiac output monitoring devices market during the forecast period
- North America held a major share of the global cardiac output monitoring devices market in 2018, due to the presence of large population suffering from cardiovascular disorder, rise in hospital admission associated with the disease, and increase in reimbursement scenario for patients suffering from cardiovascular disease in the U.S.
- The cardiac output monitoring devices market in Asia Pacific is expected to expand at a high CAGR of 5.3% from 2019 to 2027, due to surge in number of elderly patients and increase in chronic cardiovascular disorders leading to stroke. This, in turn, is likely to drive the demand for cardiac output monitoring devices in emerging markets such as India and China.
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Rise in Prevalence of Cardiovascular Disease to Drive Cardiac Output Monitoring Devices Market
- Rise in prevalence of cardiovascular disease globally is projected to drive the cardiac output monitoring devices market during the forecast period
- According to the American Heart Association, in 2018, about 92.1 million adults in the U.S. were living with some form of cardiovascular disease or the after-effects of stroke, while prevalence of Myocardial infarction (MI) in the U.S. was around 7.9 million
- Hence, rise in prevalence and increase in burden of cardiovascular disease have increased the patient pool undergoing interventional procedures globally, resulting in high demand for cardiac output monitoring devices, which, in turn, is likely to accelerate the growth of the global cardiac output monitoring devices market in the next few years
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Pulmonary Artery Catheter Technology to Dominate Cardiac Output Monitoring Devices Market
- In terms of technology, the global cardiac output monitoring devices market can be classified into pulmonary artery catheter, thermodilution pulse contour analysis technique, lithium dilution technique, arterial waveform analysis technique, Doppler, transthoracic impedance & bioreactance analysis, and others
- The pulmonary artery catheter segment dominated the global cardiac output monitoring devices market in 2018 and the trend is projected to continue during the forecast period, as pulmonary artery catheter is a gold standard for measurement of cardiac output and most commonly used procedure in clinical settings
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Invasive Cardiac Output Monitoring Devices to Witness High Demand
- In terms of type, the global cardiac output monitoring devices market has been segmented into invasive and non-invasive. The invasive segment accounted for a major share of the cardiac output monitoring devices market in 2018. Minimally invasive cardiac output monitoring devices provide real-time, beat-to-beat cardiac output, and preload and afterload, which, in turn, is a major factor anticipated to propel the invasive segment.
- The non-invasive segment is anticipated to expand at a rapid CAGR during the forecast period as currently, manufacturers of cardiac output monitoring devices are focusing mainly on research & development of less invasive cardiac output monitoring devices with inherent lower risk of use
Hospitals to be a Major End User of Cardiac Output Monitoring Devices
- In terms of end user, the global cardiac output monitoring devices market has been categorized into hospitals, ambulatory surgical centers, and others
- The hospitals segment held a major share of the global cardiac output monitoring devices market in 2018. Large market share of the hospitals segment can be attributed to the rise in the number of surgical procedures being performed for the treatment and management of neurovascular and cardiovascular disorders. These factors are likely to propel the segment during the forecast period.
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Growth Strategies of Key Players in Cardiac Output Monitoring Devices Market
- Key players operating in the global cardiac output monitoring devices market include GE Healthcare, Getinge AB, Edward Lifesciences Corporation, Baxter International Inc., LiDCO Group plc, ICU Medical, Inc., Deltex Medical Group plc, Uscom, CNSystems Medizintechnik GmbH, and Osypka Medical GmbH
- These companies engage in mergers & acquisitions in order to expand product offerings and customer base. For instance, in February 2014, Getinge AB announced the acquisition of PULSION MEDICAL SYSTEMS SE, which provided Getinge AB with a diversified and expansive portfolio cardiac output monitoring devices and technologies. This acquisition expanded the geographic presence of Getinge AB in key markets, particularly in the U.S. and Europe.
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