Non-Invasive Cardiac Output Monitoring Device Market Size, Trends and Growth Analysis by 2027

The market for non-invasive cardiac output monitoring devices is projected to grow significantly, reaching approximately US$ 330,902.81 thousand by 2027, up from US$ 226,049.76 thousand in 2019. This growth represents a compound annual growth rate (CAGR) of 5.0% from 2020 to 2027.

The primary drivers behind the expansion of the non-invasive cardiac output monitoring device market include the increasing prevalence of cardiovascular diseases and the growing elderly population. Nevertheless, the high costs associated with these products and procedures pose a challenge to market growth.

Globally, the incidence of chronic diseases is on the rise, particularly in developing nations. The surge in cardiovascular issues can be attributed to lifestyle changes and factors such as widespread smoking and poor dietary habits.

Countries in the developing world are making significant strides in enhancing their healthcare infrastructure and services, moving towards advanced technologies. For example, according to the Ministry of Commerce & Industry, Government of India, the healthcare market is anticipated to triple, reaching approximately US$ 133.44 billion (INR 8.6 trillion) by 2022. Additionally, medical tourism is experiencing rapid growth in these regions. The India Brand Equity Foundation reports that the medical tourism sector in India is expanding at a rate of 18% annually. Consequently, these developing markets present substantial opportunities for providers of non-invasive cardiac output monitoring devices to introduce affordable products.

The non-invasive cardiac output monitoring device market is categorized by device type into patches, wristwatches, and probes and catheters. In 2019, the probes and catheters segment dominated the market share. However, the wristwatches segment is projected to exhibit the highest CAGR during the forecast period.

When segmented by medical indications, the market includes hypertension, coronary diseases, congenital heart problems, myocardial ischemia and infarction, heart failure, arrhythmias, and other conditions. The hypertension segment accounted for the largest market share in 2019, while the heart failure segment is expected to show the highest growth rate in the coming years.

From the perspective of end users, the market is divided into emergency services centers, homecare, and other facilities. The hospitals segment held the largest market share in 2019, but the emergency services centers segment is anticipated to achieve the highest CAGR during the forecast period.

Key sources of information for this report include major health organizations such as the World Health Organization, National Health Service, Centers for Disease Control and Prevention, Brazilian Society of Cardiology, and Spanish Heart Foundation, along with various company websites.