Market Analysis and Insights:
The PiCCO Monitor market is anticipated to grow at a CAGR of 6.8% from 2021 to 2031, reaching a value of USD 278.8 million. Some of the factors driving the expansion of the PiCCO Monitor market include the rise in surgical procedures, the aging population, and the prevalence of chronic diseases.
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The rising prevalence of chronic diseases like cardiovascular and respiratory illnesses, the aging population, and the rising number of surgical procedures are the market-drivers for the PiCCO Monitor. Additionally, technological advancements in healthcare and the rising popularity of minimally invasive procedures are anticipated to fuel market expansion. The PiCCO Monitor increases the market demand by providing precise and trustworthy hemodynamic measurements, which are essential in critical care and perioperative settings. Because critically ill COVID-19 patients need ongoing hemodynamic status monitoring, the COVID-19 pandemic has also increased demand for hemodynamic monitoring systems.
PiCCO Monitor Market Scope:
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2031 |
| Study Period | 2018-2031 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2031 | USD 278.8 million |
| Growth Rate | CAGR of 6.8 % during 2021-2031 |
| Segment Covered | by Type, By end use, by Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Edwards Lifesciences Corporation, CNSystems Medizintechnik AG, Pulsion Medical Systems SE, Schwarzer Cardiotek GmbH, LiDCO Group plc, Osypka Medical GmbH, Deltex Medical Group plc, and PULSION Medical Systems SE (part of Getinge AB) |
Market Definition
A PiCCO monitor is a kind of hemodynamic monitoring device used to measure cardiac output, stroke volume, and other hemodynamic parameters in critically ill patients. PiCCO stands for "Pulse Contour Cardiac Output," The stroke volume and cardiac output are measured using the pulse contour method, which involves examining the arterial pulse wave's contour.
The PiCCO Monitor is significant because it offers precise and trustworthy hemodynamic measurements, which are essential in perioperative and critical care settings. Clinicians can determine a patient's cardiovascular status, plan their fluid and medication regimen, and identify and treat complications like hypovolemia, shock, and organ dysfunction with the aid of hemodynamic monitoring. The PiCCO Monitor is a valuable tool in the management of critically ill patients because it is minimally invasive, which lowers the risk of complications and allows for continuous monitoring.
Key Market Segmentation:
Insights on PiCCO Monitor Types:
The cardiac output monitors segment emerged as the most lucrative market type
During the forecast period, the segment for cardiac output monitors is anticipated to grow at the highest CAGR. This is explained by the rising need for precise and ongoing hemodynamic monitoring in critical care and perioperative settings, as well as by the advantages of cardiac output monitoring for directing fluid and medication therapy and spotting hemodynamic instability. Further propelling the growth of this market are expected to be technological developments and the introduction of wireless and portable cardiac output monitoring systems.
Insights on Key Consumer Types:
The most prominent consumer type is the critical care
During the forecast period, the critical care segment is anticipated to grow at the highest CAGR. This is because critically ill patients have an increased need for precise and ongoing hemodynamic monitoring, and because hemodynamic monitoring is useful for guiding fluid and medication therapy and identifying hemodynamic instability. Additionally, it is anticipated that the demand for hemodynamic monitoring systems in critical care settings will increase as a result of the rising prevalence of chronic diseases like cardiovascular and respiratory illnesses as well as the growing geriatric population.
Insights on Key End Users:
The market's hospitals and clinics end-use segment to be on top
During the forecast period, the segment for hospitals is anticipated to grow at the highest CAGR. This is explained by the rise in hospital admissions, the rise in demand for cutting-edge medical technologies and devices, and the accessibility of qualified healthcare workers. Additionally, it is anticipated that the demand for hemodynamic monitoring systems in hospitals will be driven by the rising prevalence of chronic diseases and the growing geriatric population.
Insights on Regional Analysis:
The APAC region to render ample financing opportunities
The highest CAGR is anticipated for the Asia Pacific region during the forecast period. This is brought on by the region's rising rates of surgical procedures, geriatric population growth, and chronic disease prevalence. Additionally, the Asia Pacific region's market is anticipated to grow as a result of the region's expanding healthcare infrastructure, rising healthcare investments, and rising use of cutting-edge medical technologies and devices. The PiCCO Monitor market in this region is anticipated to expand as a result of the high patient population and rising demand for perioperative and critical care services.
Company Profiles:
There are many modest and big firms fighting in the extremely fragmented PiCCO Monitor market.
The leading companies in the PiCCO Monitor market are Edwards Lifesciences Corporation, CNSystems Medizintechnik AG, Pulsion Medical Systems SE, Schwarzer Cardiotek GmbH, LiDCO Group plc, Osypka Medical GmbH, Deltex Medical Group plc, and PULSION Medical Systems SE (part of Getinge AB). To increase their market share and solidify their positions in the PiCCO Monitor market, these businesses are focusing on strategic alliances, mergers and acquisitions, product launches, and investments in R&D.
COVID-19 Impact and Market Status
The PiCCO Monitor Market has been significantly impacted by the COVID-19 outbreak.
The COVID-19 pandemic's effects on the PiCCO Monitor market have been conflicting. The pandemic has caused supply chain disruptions, decreased hospital admissions for non-COVID-19 conditions, and an increase in the demand for hemodynamic monitoring systems in critical care settings. The production and distribution of medical devices, including PiCCO Monitors, have been delayed as a result of the travel bans and facility closures implemented to stop the virus's spread. However, the demand for PiCCO Monitors is anticipated to rise in the post-pandemic period as a result of growing recognition of the value of hemodynamic monitoring in critical care settings and an increase in the number of COVID-19 patients needing intensive care.
Latest Trends and Innovation:
1. The PiCCO EDGE Plus hemodynamic monitoring system from Edwards Lifesciences Corporation was introduced in March 2021. It offers cutting-edge features like integrated oximetry and a new user interface.
2. To provide its TrueVue Doppler ultrasound probes to hospitals in the UK, Medstrom Healthcare and Deltex Medical Group plc announced a partnership in June 2021.
3. A strategic partnership between PULSION Medical Systems SE and Roche Diagnostics to create fresh biomarkers for hemodynamic monitoring was announced in December 2020.
Significant Growth Factors:
The PiCCO Monitor market is driven by various reasons, including increased consumer interest in leisure activities, rising disposable income, and a growing trend towards eco-friendly and sustainable lifestyles.
The rising prevalence of chronic diseases, such as cardiovascular and respiratory diseases, and the rising geriatric population are important growth factors for the PiCCO Monitor market. The need for hemodynamic monitoring systems that can precisely and continuously track vital indicators and identify hemodynamic instability in seriously ill patients is rising as a result of these factors. The demand for PiCCO Monitors in critical care settings is also being driven by the advantages of hemodynamic monitoring in guiding fluid and drug therapy, optimizing patient outcomes, and lowering healthcare costs. The market for the PiCCO Monitor is also anticipated to grow as a result of the rising adoption of cutting-edge medical technologies, the availability of qualified healthcare professionals, and the rising number of hospital admissions.
Restraining Factors:
There are a number of restraints that can prevent the PiCCO Monitor market from expanding, despite its expansion.
The PiCCO Monitor market, however, is also constrained by a number of factors. The market growth may be constrained by the high price of hemodynamic monitoring systems and the absence of reimbursement policies for such devices in some areas. Additionally, the need for specialized training to use the devices, the complexity of the technology, and the fact that few healthcare professionals are aware of the advantages of hemodynamic monitoring could restrain market expansion. The COVID-19 pandemic has also had a mixed effect on the market, with supply chain disruptions and a decline in hospital admissions for illnesses unrelated to COVID-19 affecting market expansion. Additionally, the PiCCO Monitor market may face difficulties due to the availability of substitute hemodynamic monitoring systems and the danger of complications from invasive monitoring.