Hemodynamic Flow Alteration Devices Market
Number of pages: 100 | Report Format: PDF | Published date: April 26, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 769.15 million |
|
Revenue Forecast in 2031 |
US$ 1602.81million |
|
CAGR |
8.5% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Type, End User, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global hemodynamic flow alteration devices market was valued at US$ 769.15 million and is expected to register a revenue CAGR of 8.5% to reach US$ 1602.81 million in 2031.
Hemodynamic Flow Alteration Devices Market Fundamentals
Hemodynamic flow alteration devices (HFADs) are medical devices that increase blood flow in people suffering from cardiovascular illnesses. These devices function by altering blood flow through the circulatory system, either by introducing turbulence or changing the blood arteries' pressure gradient. Hemodynamic flow alteration devices have been demonstrated to improve patient outcomes with other treatments such as medicine or surgery. Stents, vascular grafts, and mechanical heart valves are examples of hemodynamic flow alteration devices. These devices are critical in treating coronary artery disease, heart failure and peripheral artery disease. Several recent advancements in hemodynamic flow alteration devices have aimed to improve their efficacy and safety. For instance, advanced flow diverters are stents designed to redirect blood flow away from an aneurysm, a bulge in the wall of an artery, which can lead to life-threatening bleeding if it ruptures. This technology is less invasive than traditional aneurysm repair surgery and has shown promising results in clinical trials.
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Hemodynamic Flow Alteration Devices Market Dynamics
Several factors are responsible for the high prevalence of cardiovascular diseases, which drive the demand for hemodynamic flow alteration devices. The most common cause of morbidity and illness is cardiovascular disease. The World Health Organization (WHO) estimates that 17.9 million deaths per year, or 31% of all deaths worldwide, are caused by cardiovascular diseases. Thus, the increase in cardiovascular cases drives the need for hemodynamic flow alteration devices. The risk of cardiovascular diseases is highest in older persons. Obesity, diabetes, and hypertension are other important risk factors for this illness. Therefore, increasing trends in sedentary lifestyles and lack of physical activities contribute to the emergence of several chronic diseases and necessitate hemodynamic flow alteration devices.
The establishment and increased use of hemodynamic flow-altering devices have recently accelerated owing to technical breakthroughs. Newer stents with better coatings and materials that lower the risk of thrombosis and restenosis are now available due to advancements in stent technology. Flow diverters and embolization coils can be positioned more precisely because of the development of sophisticated microcatheters. Using robotic surgery with artificial intelligence allows for increased control and precision during procedures like stent placement and embolization. These developments have shortened patient recuperation times and increased the efficacy of minimally invasive operations. In turn, it is anticipated that the global hemodynamic flow alteration devices market statistics will increase significantly over the forecast years. Implantable hemodynamic monitoring devices have also been developed to allow long-term monitoring of hemodynamic parameters in patients with chronic heart failure. Directly implanted into the heart, these devices can continuously measure variables, including cardiac output and pulmonary artery pressure. Wireless hemodynamic monitoring systems have also been designed to allow continuous monitoring of hemodynamic parameters without the use of tethered devices or cables. Healthcare personnel can remotely monitor patients with the help of these gadgets, which broadcast data to a central monitoring station using wireless technology.
However, one of the major challenges for the hemodynamic flow alteration devices market is the high cost of these devices. Hemodynamic flow alteration devices are medical devices that require specialized expertise to design, manufacture, and operate. As a result, these devices tend to be expensive, which can limit their adoption and use, particularly in resource-limited settings. Moreover, the complexity of hemodynamic physiology and the interplay between different physiological parameters can make it challenging to interpret hemodynamic data accurately. Misinterpreting hemodynamic data can lead to incorrect treatment decisions, resulting in adverse patient outcomes.
Hemodynamic Flow Alteration Devices Market Ecosystem
The global hemodynamic flow alteration devices market overview is analyzed from the following perspectives: type, end user, and region.
Hemodynamic Flow Alteration Devices Market by Type
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Based on the type, the global hemodynamic flow alteration devices market is segmented into embolic protection devices and chronic total occlusive devices.
Embolic protection devices accounted for the largest revenue share of the global hemodynamic flow alteration devices market in 2022. Embolic protection devices are gaining popularity in the hemodynamic flow alteration devices market because they provide a minimally invasive method of preventing potentially life-threatening complications during certain treatments, such as stenting or angioplasty. Embolic protection devices are intended to trap plaque and debris without interrupting the normal blood flow throughout angioplasty to prevent them from reaching crucial organs such as the brain or heart. Additionally, embolic protection devices are typically delivered through a small incision or puncture and do not require open surgery. This makes the procedures less invasive, reducing recovery time and complications and making the procedures suitable for patients with a higher risk of complications from traditional surgery. Moreover, embolic protection devices can treat various circulatory diseases, including cardiovascular disease, peripheral artery disease, and carotid artery disease. They can also be used with other hemodynamic flow alteration devices, such as stents or balloons, to give patients extra protection while undergoing procedures.
According to hemodynamic flow alteration devices industry analysis, chronic total occlusive devices also accounted for significant growth with a rapid increase in revenue CAGR. Chronic total occlusive devices are especially useful in emergencies. It restores blood flow to the affected area quickly, relieving symptoms such as chest pain and shortness of breath. Also, they can be used as a preventative measure to avoid further damage to the heart muscle. Chronic total occlusive devices have high success rates, with most patients experiencing significant blood flow and symptom improvements.
Hemodynamic Flow Alteration Devices Market by End User
Based on the end user, the global hemodynamic flow alteration devices market is segmented into hospitals and clinics, ambulatory surgical centers, and others.
The hospitals and clinics accounted for a significant revenue share of the global hemodynamic flow alteration devices market in 2022. Hemodynamic devices are used in hospitals and clinics as the principal location for treating critically sick patients who need hemodynamic care in hospitals and specialty clinics. Hemodynamic flow alteration devices are employed to control blood flow and pressure in patients who have experienced cardiac arrest, heart failure, or other life-threatening disorders. These devices are frequently utilized in hospital-based facilities such as cardiac catheterization labs, intensive care units, and emergency rooms. Also hospitals have the appropriate personnel, including cardiologists and critical care nurses, to handle and monitor patients who need hemodynamic support. These hemodynamic flow alteration devices demand a high level of competence to operate. Furthermore, hospitals and clinics have the funding to get and keep hemodynamic flow alteration equipment as they have the financial means to purchase the most advanced tools despite these instruments being pricey.
Hemodynamic Flow Alteration Devices Market by Region
Based on the region, the global hemodynamic flow alteration devices market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the largest revenue share of the global hemodynamic flow alteration devices market in 2022. Cardiovascular diseases, such as heart failure and cardiac arrest, are North America's leading causes of death. The high prevalence of these diseases has led to an increased demand for hemodynamic flow alteration devices that can manage blood flow and pressure in critically ill patients. Additionally, North America has a well-established healthcare infrastructure with advanced hospitals, medical centers, and research institutions. This infrastructure provides easy access to advanced medical technologies, including hemodynamic flow alteration devices commonly used to treat critically sick patients.
Furthermore, many significant participants in the hemodynamic flow alteration device industry are based in North America, including Edwards Lifesciences Corporation, Abiomed, Inc., and Teleflex Incorporated. These businesses are well-established and have helped improve the hemodynamic flow alteration devices market outlook by providing cutting-edge products and employing creative marketing techniques. In addition, this region's government policies support the advancement and uptake of advanced medical technologies. The government has implemented programs to boost medical research, healthcare infrastructure, and patient access to innovative medical technologies, such as artificial intelligence and machine learning applications developed to analyze hemodynamic data and provide real-time insights into patient status.
Hemodynamic Flow Alteration Devices Market Competitive Landscape
Multiple companies across the globe are investing in raising awareness and reimbursement, which is expected to improve the hemodynamic flow alteration devices market outlook. Notable market participants account for the largest revenue share of the global hemodynamic flow alteration devices market include,
Hemodynamic Flow Alteration Devices Market Strategic Developments
Hemodynamic flow alteration devices are used to manage blood flow and pressure in emergency care for critical patients.
Embolic protection devices accounted for the largest revenue share of the global hemodynamic flow alteration devices market.
Increased rate of cardiovascular diseases and technological advancement are the major factors driving the global embolic protection devices market growth.
Key companies operating the global Hemodynamic Flow Alteration Devices market are Boston Scientific Corporation, Abbott Laboratories, Biotronik SE & Co. KG, iVascular, Koninklijke Philips N.V., and Terumo Corporation.
The global hemodynamic flow alteration devices market is expected to grow at a revenue CAGR of 8.5% during the forecast period from 2023 to 2031.
*Insights on financial performance are subject to the availability of information in the public domain