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1 MarketsandMarkets Publisher Sample Phone: (US) or or (Int'l) Hours: Monday - Thursday: 5:30am - 6:30pm EST Fridays: 5:30am - 5:30pm EST customerservice@marketresearch.com MarketResearch.com
2 HEMODYNAMIC MONITORING SYSTEM MARKET {BY PRODUCT (SYSTEMS AND DISPOSABLES), BY TYPE (INVASIVE, MINIMALLY INVASIVE, NON-INVASIVE), BY END-USER (HOSPITALS, CATH LABS, HOME AND AMBULATORY SITES)} ANALYSIS & GLOBAL FORECAST TO 2019 It s all about markets MARKETSANDMARKETS sales@marketsandmarkets.com
3 MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world. MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers fourteen industry verticals, including aerospace and defence, advanced materials, automotives and transportation, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT. Copyright 2015 MarketsandMarkets All Rights Reserved. This document contains highly confidential information and is the sole property of MarketsandMarkets. No part of it may be circulated, copied, quoted, or otherwise reproduced without the approval of MarketsandMarkets. 2
4 CAGR% ( ) Hemodynamic Monitoring System Market Analysis and Global Forecast to EXECUTIVE SUMMARY 1.1 INTRODUCTION Hemodynamic monitoring systems are indispensable tools used in determining the hemodynamic profile of the critically ill. There are basically three types of hemodynamic monitoring systems available in the market invasive, minimally invasive, and noninvasive hemodynamic monitoring systems. The type of system used depends on age and criticality of the patient. For instance, the hemodynamic parameters of elderly and weak patients cannot be determined using invasive systems due to the risks of infectious diseases associated with the procedure. The global hemodynamic monitoring systems market is expected to reach $ million in 2019 from $ million in 2014, growing at a CAGR of %. Key factors propelling growth of this market are: Technological advancements in the hemodynamic monitoring systems: The use of MEMS (microelectromechanical systems) technology to build sensors in the CardioMEMS Champion Heart Failure Monitoring System by St. Jude Medical, Inc. (U.S.) Growing number of people with hypertension and cardiovascular diseases: ~ million deaths occur per year globally from cardiovascular diseases [Source: World Health Organization (WHO)] Growing diabetic population: Globally, million people had diabetes in 2013, and this figure is expected to reach million by 2035 [Source: International Diabetes Federation (IDF)] Rapidly aging population: The geriatric population (above 65 years) in China is expected to reach million by 2050 from million in 2011 [Source: National Institute on Aging (NIA)] However, there are risks of infectious diseases, such as sepsis, bleeding, and pulmonary capillary necrosis, associated with invasive hemodynamic monitoring. This is likely to restrain market growth. FIGURE 1 MINIMALLY INVASIVE HEMODYNMAIC MONITORING SYSTEMS MARKET TO WITNESS THE HIGHEST CAGR OF 6.0% FROM 2014 TO Minimally Invasive Hemodynamic CAGR: % ( ) Noninvasive Hemodynamic CAGR: % ( ) Invasive Hemodynamic CAGR: % ( ) Rank (In terms of market size for 2014) Note: The size of the bubble indicates market size ($million) in 2014 Source: International Hemodynamic Society (IHS), Association for the Advancement of Medical Instrumentation (AAMI), New York Heart Association (NYHA), Department of Anesthesiology & Perioperative Care (University of California), National Institute on Aging 3
5 (NIA), International Diabetes Federation (IDF), the American Association of Critical-Care Nurses (AACN), Intensive Care National Audit & Research Centre (ICNARC), American College of Cardiology (ACC), Expert Interviews, and MarketsandMarkets Analysis 1.2 FUTURE OUTLOOK On the basis of products, the market is segmented into two broad categories systems (monitors) and disposables. In 2014, the disposables segment commanded the largest share of ~% of the global hemodynamic monitoring systems market. The disposables segment is also expected to grow at the highest CAGR of % from 2014 to The large market share and high growth rate is attributed to the mandatory requirement of changing disposable sets for every patient, leading to repeated purchases. FIGURE 2 DISPOSABLES SEGMENT TO GROW AT THE HIGHEST CAGR FROM $Million % Systems (Monitors) % Disposables CAGR (%) Source: International Hemodynamic Society (IHS), Association for the Advancement of Medical Instrumentation (AAMI), New York Heart Association (NYHA), Department of Anesthesiology & Perioperative Care (University of California), National Institute on Aging (NIA), International Diabetes Federation (IDF), the American Association of Critical-Care Nurses (AACN), Intensive Care National Audit & Research Centre (ICNARC), American College of Cardiology (ACC), Expert Interviews, and MarketsandMarkets Analysis Based on end user, the market is categorized into hospitals, catheterization laboratories (cath labs), and home and ambulatory sites. The hospitals segment held the largest share of ~% of the hemodynamic monitoring systems market, by end user, in This segment is poised to grow at the highest CAGR of %. Factors such as the rising aging population and the increasing prevalence of diseases globally have propelled the demand for hemodynamic monitoring systems in hospitals. 4
6 2 PREMIUM INSIGHTS 2.1 GLOBAL HEMODYNAMIC MONITORING SYSTEMS MARKET FIGURE 3 HEMODYNAMIC MONITORING SYSTEMS: MARKET OVERVIEW MARKET OVERVIEW Global hemodynamic monitoring systems market - $ million in 2014 Market growth is attributed to technological advancements, increasing prevalence of hypertension and diabetes, and rapid growth in the aging population xx xx North America accounted for the highest share % of the hemodynamic monitoring systems market Asia is slated to be the fastest-growing market, growing at a CAGR of % in the forecasted period Source: International Hemodynamic Society (IHS), Association for the Advancement of Medical Instrumentation (AAMI), New York Heart Association (NYHA), Department of Anesthesiology & Perioperative Care (University of California), National Institute on Aging (NIA), International Diabetes Federation (IDF), American Association of Critical-Care Nurses (AACN), Intensive Care National Audit & Research Centre (ICNARC), American College of Cardiology (ACC), Expert Interviews, and MarketsandMarkets Analysis 5
7 3 INDUSTRY TRENDS 3.1 PORTER S FIVE FORCES ANALYSIS The competitive environment prevailing in the global hemodynamic monitoring systems industry can be analyzed through Porter s Five Forces analytical framework. FIGURE 4 PORTER S FIVE FORCES ANALYSIS: HEMODYNAMIC MONITORING SYSTEMS MARKET Supplier's Bargaining Power Buyer's Bargaining Power Threat of New Entrants Threat of Substitutes Intensity of Competitive Rivalry Note: Score for each force is the mean score of its parameters Source: International Hemodynamic Society (IHS), Association for the Advancement of Medical Instrumentation (AAMI), New York Heart Association (NYHA), Department of Anesthesiology & Perioperative Care (University of California), National Institute on Aging (NIA), International Diabetes Federation (IDF), the American Association of Critical-Care Nurses (AACN), Intensive Care National Audit & Research Centre (ICNARC), American College of Cardiology (ACC), Expert Interviews, and MarketsandMarkets Analysis As per the framework, the competitive environment of the global hemodynamic monitoring systems industry can be rated as per the following five criteria: Supplier's Bargaining Power Low Buyer's Bargaining Power High Threat of New Entrants Low to Moderate Threat of Substitutes Low Intensity of Competitive Rivalry High 6
8 4 HEMODYNAMIC MONITORING SYSTEMS MARKET, BY TYPE 4.1 INTRODUCTION FIGURE 5 INVASIVE HEMODYNAMIC MONITORING SYSTEMS COMMANDED LARGEST MARKET SHARE IN 2014 Invasive Hemodynamic % Minimally Invasive Hemodynamic % Noninvasive Hemodynamic % CAGR (%) Market Size ($Million) Source: International Hemodynamic Society (IHS), Association for the Advancement of Medical Instrumentation (AAMI), New York Heart Association (NYHA), Department of Anesthesiology & Perioperative Care (University of California), National Institute on Aging (NIA), International Diabetes Federation (IDF), the American Association of Critical-Care Nurses (AACN), Intensive Care National Audit & Research Centre (ICNARC), American College of Cardiology (ACC), Expert Interviews, and MarketsandMarkets Analysis 7
9 5 COMPETITIVE LANDSCAPE 5.1 MARKET SHARE ANALYSIS The hemodynamic monitoring systems market comprises several large and small players. The market is witnessing stiff competition in terms of rapidly changing technologies, changing customer requirements, and evolving industry standards. In order to be competitive and to sustain their foothold in this market, companies are focusing on offering superior quality and technologically advanced products in the market space. The major players of this market are LiDCO Group plc (U.K.), Edwards Lifesciences Corporation (U.S.), Cheetah Medical, Inc. (U.S.), Deltex Medical Group plc (U.K.), ICU Medical, Inc. (U.S.), PULSION Medical Systems SE (Germany), Schwarzer Cardiotek GmbH (Germany), Tensys Medical, Inc. (U.S.), Hemo Sapiens, Inc. (U.S.), and Osypka Medical GmbH (Germany). FIGURE 6 MARKET SHARE ANALYSIS OF THE GLOBAL HEMODYNAMIC MONITORING SYSTEMS MARKET, BY KEY PLAYER, 2014 % Edwards Lifesciences Corporation % PULSION Medical Systems SE % % LiDCO Group plc Others (Cheetah Medical, Inc.; Deltex Medical Group plc; ICU Medical, Inc.; PULSION Medical Systems; Schwarzer Cardiotek GmbH; Tensys Medical, Inc.; Hemo Sapiens, Inc.; and Osypka Medical GmbH Source: International Hemodynamic Society (IHS), Association for the Advancement of Medical Instrumentation (AAMI), New York Heart Association (NYHA), Department of Anesthesiology & Perioperative Care (University of California), National Institute on Aging (NIA), International Diabetes Federation (IDF), the American Association of Critical-Care Nurses (AACN), Intensive Care National Audit & Research Centre (ICNARC), American College of Cardiology (ACC), Expert Interviews, and MarketsandMarkets Analysis In 2014 the overall hemodynamic monitoring systems market was dominated by Edwards Lifesciences Corporation with a share of %, followed by PULSION Medical Systems SE and LiDCO Group plc with shares of % and %, respectively. 8
10 Disclaimer: MarketsandMarkets strategic analysis services are limited publications containing valuable market information provided to a select group of customers in response to orders. Our customers acknowledge, when ordering, that MarketsandMarkets strategic analysis services are for our customers internal use and not for general publication or disclosure to third parties. Quantitative market information is based primarily on interviews and therefore, is subject to fluctuation. MarketsandMarkets does not endorse any vendor, product or service depicted in its research publications. MarketsandMarkets strategic analysis publications consist of the opinions of MarketsandMarkets' research and should not be construed as statements of fact. MarketsandMarkets disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. MarketsandMarkets takes no responsibility for any incorrect information supplied to us by manufacturers or users. All trademarks, copyrights and other forms of intellectual property belong to their respective owners and may be protected by copyright. Under no circumstance may any of these be reproduced in any form without the prior written agreement of their owner. No part of this strategic analysis service may be given, lent, resold or disclosed to non-customers without written permission. Reproduction and/or transmission in any form and by any means including photocopying, mechanical, electronic, recording or otherwise, without the permission of the publisher is prohibited. 9
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