Impact of COVID-19 on the Global Hemodynamic Monitoring Systems Market
The COVID-19 epidemic has been straining healthcare workflow across the globe. The disease has forced various industries to temporarily shut its doors including many healthcare subdomains. Parallel to this, it has also had a positive impact and increasing demand for various medical sectors including intensive care unit devices (beds, ventilators, hemodynamic monitoring systems, etc.), healthcare personal protection equipment, and among others. A hemodynamic monitoring system is one of the important devices that are is used in intensive care units to monitor blood pressure, fluid, and oxygen level of critically ill patients.
Hemodynamic Monitoring Systems in the ManagemENt of Covid-19
Patients admitted to the critical care facilities are either suffering from single or multiple organ failure or at the risk of organ failure. This also includes patients who have undergone surgical procedures or trauma. In Covid-19 patients, there is a need for close monitoring of circulating fluid status to avoid hemodynamic instability. These patients can be at increased risk of acquiring conditions like sepsis and acute respiratory distress syndrome (ARDS) after their vital signs go out of range. The hemodynamic activities of patients are continuously monitored with the help of hemodynamic monitoring systems to prevent organ failure. Several Health authorities are giving approvals for the use of hemodynamic monitoring systems in Covid-19 patients’ management. For instance, in April 2020 Canada government authority Health Canada approved expanded use of Edwards’ HemoSphere Platform for management of COVID-19 patients. Similarly, in March 2020 China Government Recommended the use of the Uscom hemodynamic monitoring system USCOM 1A for the treatment of severe COVID-19 patients. Also, regulatory authorities are approving innovative solutions for treatment Covid-19 patients with chronic diseases. In April 2020, the FDA approved the use of the ECMO cannula system for patients in need of mechanical oxygenation and hemodynamic support. Such approvals are expected to provide cushioning to the growth of hemodynamic monitoring systems in the near future.
Also, the Non-ICU departments in the hospitals are restructured to the Intensive care units to treat Covid-19 patients. Thus, the approval for expanded use and increase in the number of ICU units is responsible for the rising demand for hemodynamic monitoring systems to manage critically ill patients.
Hemodynamic Monitoring Systems manufacturing and supply
Due to the Covid-19 pandemic, the supply of raw material is affected, and the overall supply chain is disturbed due to the lockdown. Also, the majority of the manufacturing facilities are temporarily closed to avoid the contamination which is expected to adversely affect the overall production capacity. However, few key players are continuing their operations with a limited workforce to provide emergency care devices to the healthcare facilities. The demand-supply gap is increased due to the rising demand for hemodynamic monitoring systems in Covid-19 management and interruption in manufacturing. Also, due to the Covid-19 pandemic key players are trying to expand their reach by collaborations with supply chain partners. For instance, on May 29, 2020, Edwards Lifesciences and United Parcel Service of America, Inc. announced a partnership to deliver medical devices in Europe. With this partnership, United Parcel Service of America, Inc. will distribute HemoSphere advanced monitoring platform to the European countries through Puerto Rico.
Major players in the markets such as Edwards Lifesciences Corporation, Lidco, ICU Medical, and Deltex Medical Group PLC are conduction online webinars and conferences to educate medical professionals about the use of hemodynamic monitoring systems in Covid-19 management.