Market Research Report
Asia-Pacific Hemodynamic Monitoring Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||708520|
|Published||Content info||84 Pages
Delivery time: 2-3 business days
|Asia-Pacific Hemodynamic Monitoring Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: March 1, 2019||Content info: 84 Pages||
The key factors propelling the Asia-Pacific hemodynamic monitoring market are an increase in the number of critically ill geriatric population and rising prevalence of cardiac disorders and diabetes. According to the economic and social commissions for Asia and Pacific, the percentage of people aged 65 years or older is projected to increase from an estimated 16.8% of people out of the total population in 2016, to nearly 23.3% of the population by 2050, in the Asia-Pacific region. Age is associated with a progressive decline of the functional reserve of multiple organ systems. It is, therefore, not surprising that elderly patients may utilize a disproportionate share of healthcare resources, as approximately 92% of older adults have at least one chronic disease, and 77% have at least two. Early and effective hemodynamic management with fluid therapy and administration of vasoactive drugs to maintain vital organ perfusion and oxygen delivery is mandatory in critically ill patients. This is expected to increase the demand for hemodynamic monitoring, which, in turn, may drive the Asia-Pacific hemodynamic monitoring market.
The market is also propelling due to the increase in the number of reported cases of lifestyle-related diseases, like diabetes, obesity, COPD, and cardiac myopathy, among many others, which require medical monitoring by healthcare professionals, in the Asia-Pacific region. Therefore, the rise in the prevalence of cardiac disorders and diabetes is directly proportional to the growth of the hemodynamic monitoring market.
As per the scope of this report, hemodynamic monitoring devices are used to measure the blood pressure inside the veins, heart, and arteries. These devices are also used to monitor the blood flow and the concentration of oxygen in the blood.
Non-invasive Monitoring Systems is the Segment under Type of System that is Expected to Grow Fastest During the Forecast Period
Invasive monitoring systems dominated the Asia-Pacific hemodynamic monitoring market, as they provide critical care, allow detailed determinations of cardiorespiratory variables, and are used for the effective preoperative assessment of high-risk patients.
The non-invasive hemodynamic monitoring systems segment is expected to register a CAGR of 10%. In the coming years, the non-invasive hemodynamic monitoring system market is expected to witness the highest growth, with China, Japan, and India positioned as growth engines. According to the American Diabetic Association, around 60% of the world's diabetic population lives in Asia. The prevalence of diabetes in India and China is 8.6% and 9.6%, respectively. India is known as the diabetes capital of the world with more than 60 million diabetics in the country, as of 2014. There is a high growth in the aging population and high prevalence of diabetes and cardiac diseases, which have helped drive the non-invasive hemodynamic monitoring system market.
The Asia-Pacific hemodynamic monitoring market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by introducing new products with fewer prices.