Cardiac Output Monitoring Devices Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Opportunity Analysis
Coverage: Product (Consumables and Accessories and Instruments), Type (Invasive and Non-invasive), End User (Hospitals, Ambulatory Surgical Centres, and Others), and Geography (North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa)
The cardiac output monitoring devices market is expected to grow from US$ 1,498.94 million in 2022 to US$ 2,215.84 million by 2030; it is anticipated to record a CAGR of 5.0% from 2022 to 2030.
The amount of blood pumped by the heart’s left or right ventricle in a minute is known as cardiac output. It is reliant on both stroke volume and heart rate. Bioimpedance, pulse contour analysis, thermodilution, FloTrac monitoring, PiCCO cardiac output monitoring, Doppler, and the Ficks principle are the foundations of cardiac output monitoring techniques. Using cardiac output monitoring devices is important in assessing patients in the operating room, critical care unit, and other settings. Thanks to technological developments, the lithium dilution approach has made continuous real-time cardiac output (CO) monitoring possible. Throughout the projection period, the market for cardiac output monitoring devices is anticipated to experience exponential growth for this technique.
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The increasing geriatric population prone to CVD drives the growth of the cardiac output monitoring devices market.
Cardiovascular diseases (CVDs) and other significant health issues that require constant monitoring and intensive care are increasingly common in the senior population. A few main risk factors for CVD are age, ethnicity, and family history. Using smoke, having high blood pressure (hypertension), having high cholesterol, being obese, being inactive, having diabetes, having a poor diet, and drinking alcohol are additional risk factors.
As a result, over the estimated period, the world’s aging population is expected to drive the cardiac output monitoring device market. According to World Health Organization (WHO) projections, by 2030, there will be 1.4 billion persons over 60 worldwide. With age, people become more susceptible to mobility limitations, as a result of which they require medical assistance or aid to avoid dependence on other individuals. The global population is aging rapidly, and the number of older adults is expected to increase significantly in the coming years. According to the 2020 Census, in the US, the population aged 65 and above surged nearly five times faster than the overall population growth during 1920–2020. In 2020, 55.8 million Americans, i.e., 16.8% of the total population, were aged 65 and above. Further, 13% of Brazil’s population—more than 30 million seniors—is aged 60 or more; this population is expected to reach ~50 million by 2030, i.e., 24% of the country’s population. Thus, the increasing geriatric population prone to CVD is a significant driver for the growth of the cardiac output monitoring devices market.
On the other hand, patients and healthcare professionals are particularly concerned about cybersecurity flaws in devices, particularly those like computerized image extraction devices (CIEDs), where there is a chance that the gadget may be reprogrammed or rendered inoperable. The Food and Drug Administration (FDA) of the United States stated in 2023 that Medtronic recalled around 350,000 implantable cardiac devices because of persistent problems with their capacity to provide high-voltage therapy when required.
An advisory on the FDA website states that “a reduced-energy shock, or no shock at all, may fail to correct a life-threatening arrhythmia, which can lead to cardiac arrest, other serious injury, or death.” “If a patient with one of these devices requires additional surgical procedures to remove and replace the device, there are additional risks of harm.” All cardiac resynchronization therapy defibrillators (CRT-Ds) and implanted cardioverter defibrillators (ICDs) with a glassed feedthrough produced after 2017 are covered by this recall. The use of these devices “may cause serious injuries or death,” according to the FDA, which has classified this as a Class I recall. Thus, the market’s growth would be somewhat restrained.
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