Latin America hemodynamic monitoring system market is projected to register a healthy CAGR of 6.6% in the forecast period 2019 to 2026. The new market report contains data for historic years 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
Rising Cases of Cardiovascular Diseases and Diabetes:
Hemodynamic monitoring is a pressure monitoring systems which is used to measure the blood pressure inside the veins, heart, and arteries. It provides heart functioning by beat-to-beat determination of arterial pressure and stroke volume that occurs in the atrial fibrillation. Hemodynamic monitoring is used monitoring of Cardiovascular diseases (CVDs) and diabetes.
There is increase in cases of cardiovascular diseases and diabetes due to unhealthy lifestyle and consumption of unhealthy food which is increasing the demand for hemodynamic monitoring which is used in monitoring of cases of cardiovascular diseases and diabetes related surgeries. Hemodynamic monitoring system is used for monitoring the critically ill patient affected from cardiovascular diseases and helps in giving response as per the tissue oxygen demands.
Continuous technological advancements in hemodynamic monitoring systems:
A lot of developmental changes have been noticed in the hemodynamic monitoring systems market from graphical display to digital holograph. Hemodynamic monitoring systems is moving towards wearable sensor devices to provide continuous monitoring such as glasses or lenses and wearable wrist systems, such as digital watches or laser pico-projectors. For instance SEEQ MCT System remotely monitors every heartbeat and automatically sends important cardiac data SEEQ Mobile Cardiac Telemetry (MCT) System developed by Medtronic Inc.(Ireland ).
New pressure sensors by biochemical innovations and 3d printers: new sensors are band- aid or pinheads it can place next to the radial artery or the carotid artery, are able to provide an arterial pressure signal and is non-invasive and wireless, that provide sensors continuous blood pressure monitoring a reality beyond the operating room and ICUs.
There is high technological advancement due to increase in awareness of patient. Patients are now days want painless and risk free treatment which is working as key factor in development of hemodynamic monitoring systems and driving the market growth
A product recall is the process by companies for retrieving defective/unsafe products that are available for consumers. A recalls is done mainly when there are some safety concerns to remove manufacturing defect in a product that may harm its user. When a company initiates a correction or removal action, the FDA posts information about the action in the Medical Device Recall Database. FDA has classified recall in three types of classification (I, II, or III) to indicate the relative degree of risk.
Edwards is a market leader in hemodynamic monitoring this product recall will definitely affect its creditability in the market. This shows that the Product recall is acting as a market restraint for Latin America hemodynamic monitoring system market.
Risks associated with invasive hemodynamic monitoring:
Invasive hemodynamic monitoring is the method of entering into the body by breaking the skin. There is risks associated with invasive techniques e.g., infection and blood loss during the surgery. In this, the patients are at higher risk of developing a life-threatening condition for example, patients immediately after open-heart surgery for a premature infant whose heart and lungs are not fully developed is at a higher risk of losing the blood after infection, heart attack or stroke, irregular heartbeat, lung or kidney failure, chest pain, low fever, memory loss or “fuzziness”, blood clot and blood loss. The safety of the patient and development of the devices with the less invasive mechanism are leading the growth of the market in forecast period.
In 2018, the world heart Federation launched MY HEART, YOUR HEART campaign for increasing awareness among the patient regarding the cardiovascular disease including heart disease and stroke. This campaign is making the individual more active towards their health by implementing to a no communicable disease (NCD) action plan.
There is increase in awareness of patient for safety. Patients are now days want painless and risk free treatment which is working as restraint for Latin America hemodynamic monitoring system market.
Growing demand for patient monitoring devices in non-hospital settings
Many treatments depend on visualizing the minor small changes in which the heart is working. These changes occurs first deep inside the body. That can be traced by heart monitoring.
Hence we can conclude that there is an increase in the demand of hemodynamic monitoring system in the market due to cases like increase in alcohol consumption and increasing heart disorders which acts as an opportunity for the growth of market in the upcoming years.
Lack of skilled professionals:
There is increase in population and due to increase in population there is increasing burden of cardiovascular disease as, the number of requires surgeon is increasing cardiothoracic surgeons. Supply and demand of surgeons is for cardiothoracic diseases are based on analysis of population, physician office, hospital. .
The data is showing demand, supply and need of the surgeons in 2013 compared to 2030. A huge difference is found in the demand and supply of workers which acts as a challenge for the growth of Latin America hemodynamic monitoring market.
The Latin America hemodynamic monitoring system market is segmented into four notable segments which are type, product, end user and distribution.
On the basis of type, the market is segmented into invasive hemodynamic monitoring system, non-invasive hemodynamic monitoring system, and minimally-invasive hemodynamic monitoring system. In 2019, non-invasive hemodynamic monitoring system is likely to dominate market growing at the highest CAGR of 6.9% in the forecast Period of 2019 to 2026.
On the basis of products, the market is segmented into Visualization Monitors, Analyzers, Catheter, Pressure Monitoring Devices, Monitoring Sensors, recording systems, Accessories, Software and Others. Visualization Monitors Segment is further sub-segmented into Blood Pressure Monitors, Blood Glucose Monitors. Analyzers Segment is further sub-segmented into Blood Gas & Electrolyte Analyzers, Cholesterol Analyzers, Pulse Contour Analyzers. Catheter Segment is further sub-segmented into Arterial Catheter, Central Venous Catheter, Pulmonary Artery Catheter. Accessories Segment is further sub-segmented Into Cables, Holders and Mounts, Flush Devices, Tubing, Probes, Others. In 2019, Catheter is likely to dominate the market growing at the highest CAGR of 7.7 % in the forecast Period of 2019 to 2026.
On the basis of End User, the market is segmented into Hospitals and Clinics, Catheterization Labs, Ambulatory Surgical Centers, Research Institutions and Academy, Home Care Settings. In 2019, Hospitals and clinics is likely to dominate the market growing at the highest CAGR of 7.1% in the forecast Period of 2019 to 2026.
On the basis of distribution channel, the market is segmented into Direct Tender and Retailer. In 2019, Direct Tender is Likely to dominate the market growing at the highest CAGR of 6.8% in the forecast period of 2019 To 2026.
Latin America Hemodynamic Monitoring System Market – Industry Trends and Forecast to 2026