Cardiac Output Monitoring Devices Market Analysis by Product (Consumables & Accessories, and Devices); by Type (Invasive, and Non-Invasive); by Technology (Pulmonary Artery Catheter, Lithium Dilution Technique, and Others); and by End-User (Hospitals, and Ambulatory Surgical Centers) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033
Buy Now Report ID: 4217 | Published Date: Feb 14, 2023
The global cardiac output monitoring devices market is estimated to garner a revenue of ~USD 2 Billion by the end of 2033 by growing at a CAGR of ~4% over the forecast period, i.e., 2023 – 2033. Further, the market garnered revenue of ~USD 1 Billion in the year 2022. The growth of the market can be attributed to the worldwide surging occurrences of cardiovascular diseases (CVDs), along with the rising awareness among people regarding CVD diseases. As per the data released by the World Health Organization (WHO), 17.9 million people worldwide die from CVDs each year, contributing to 32% of all mortalities. Besides this, growth in the healthcare sector is also a significant factor that is projected to further fuel the global cardiac output monitoring devices market growth over the forecast period.
In addition to these, factors that are believed to fuel the market growth of cardiac output monitoring devices include the rise in cardiac arrest cases throughout the world. For instance, in the United States, more than 358,000 cardiac arrests occur outside of hospitals every year, with approximately 7 in 10 occurring at home. Thus, the count of patients admitted to critical care units for intensive or invasive monitoring has been increasing. As a result, cardiac output monitoring devices have become a vital element in assessing patients in the operating room, critical care unit, and other places. Additionally, a significant surge in respiratory problems, a rise in various types of severe infections, as well as a rise in the count of unmet medical requirements in emerging nations are some more factors that are anticipated to accelerate the market trend over the projected time frame.
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~4% |
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Base Year Market Size (2022) |
~ USD 1 Billion |
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Forecast Year Market Size (2033) |
~ USD 2 Billion |
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Regional Scope |
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Growth Drivers
Worldwide Increasing Elderly Population – Elderly population is more prone to CVDs and other severe health issues that require intensive care and monitoring. Therefore, the rising number of elderly populations across the globe is estimated to drive the growth of the cardiac output monitoring devices market in the forecasted period. According to the World Health Organization (WHO) data, by 2030, globally, the number of people over the age of 60 is estimated to reach 1.4 billion.
Rising Prevalence of Chronic Obstructive Pulmonary Disease (COPD) - Chronic obstructive pulmonary disease (COPD) occurs when the lungs get deteriorated and inflamed. The symptoms include wheezing, coughing up mucus, and breathing difficulty. It is closely attributed to prolonged exposure to hazardous substances such as cigarette smoke. Therefore, the surging ratio of COPD disease is another significant factor that is projected to boost the growth of the cardiac output monitoring devices market in the coming years. For instance, every year more than 3 million people lose their lives from COPD, which denotes 6% of total deaths globally.
An Upsurge in Surgical Procedures - For instance, every year approximately 312 million major surgeries are conducted worldwide.
Escalating Healthcare Expenditure – According to the data released by the World Bank, worldwide healthcare expenditure was grown to 9.83% in 2019 as compared to 9.7% in 2018.
Rise in Disposable Income - According to the Bureau of Economic Analysis report, in March 2022, personal income and disposable personal income in the United States have expanded by USD 107.2 billion and USD 89.7 billion, respectively.
Challenges
The global cardiac output monitoring devices market is segmented and analyzed for demand and supply by type into invasive and non-invasive. Out of these two segments, the invasive segment held a market share of 58% in the year 2022 and is estimated to garner further growth over the projected time frame. The growth of the segment can be attributed to the increasing count of cardiac implant surgeries across the globe. In addition to this, the growing popularity of minimally invasive techniques involving arterial and venous lines is also anticipated to augment segment growth during the forecast period. For instance, every year, in the United States, nearly 400,000 coronary artery bypass grafting (CABG) surgeries are performed.
The global cardiac output monitoring devices market is also segmented and analyzed for demand and supply by end-user into hospitals, and ambulatory surgical centers. Amongst these two segments, the hospital segment is expected to garner a significant share. The growth of the segment can be ascribed to the upsurge in the count of hospitals, followed by the escalating number of patient visits to be diagnosed in hospitals throughout the world. For instance, there were over 8,359 hospitals in Japan as of 2020. Whereas Korea had about 4,110 hospitals. Moreover, the availability of favorable medical reimbursement, and surge in the cardiac implant procedures throughout the world are also anticipated to further create numerous opportunities for the growth of the segment in the coming years.
Our in-depth analysis of the global cardiac output monitoring devices market includes the following segments:
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By Product |
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By Type |
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By Technology |
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By End-User |
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The North American cardiac output monitoring devices market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the increasing frequency of heart diseases, and coronary artery disease in the region. As per the data provided by the Centers for Disease Control and Prevention, in the United States, heart disease accounted for the deaths of about 697,000 people in 2020. Furthermore, coronary artery disease affects nearly 20.1 million adults aged 20 and above. In addition, rising healthcare expenditure and accessibility of technologically advanced equipment are also anticipated to boost the market growth further during the forecast period in the region.
Furthermore, the Asia Pacific cardiac output monitoring devices market is also projected to display notable market growth by the end of 2033. The growth of the market can be attributed to the escalating prevalence of CVDs, along with the growth in the healthcare infrastructure in the region. For instance, in 2019, CVDs were the major factor responsible for death in Asia, accounting for approximately 11 million deaths in the region. Moreover, surging awareness among people about the CVDs and their treatment is another significant factor that is anticipated to push the market growth further over the projected time frame in the APAC region.
ICU Medical Inc. acquired Smiths Medical from Smiths Group Plc. In addition to syringes and ambulatory infusion devices, Smith Medical also produces vascular access products and vital care products.
Schwarzer Cardiotek GmbH received 510(k) clearance from the US Food and Drug Administration for version 2.2 of its EP-TRACER electronic physiological measurement system, designed to provide a high-quality display of intracardiac ECG signals.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: Worldwide increasing elderly population, rising prevalence of chronic obstructive pulmonary disease (COPD), and an upsurge in surgical procedures are the major factors driving the market growth.
Ans: The market is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2023 – 2033.
Ans: Restricted application of cardiac output monitoring devices, preference for medicines over surgery, and limited insurance coverage options are estimated to be the growth hindering factors for the market expansion.
Ans: The market in the North American region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are ICU Medical, Inc., Baxter International, Inc., Deltex Medical plc, Boston Scientific Corporation (BSC), BioTelemetry, Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product, type, technology, end user, and by region
Ans: The invasive segment is anticipated to garner t he largest market size by the end of 2033 and display significant growth opportunities.
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