NEWTON, Mass.–(BUSINESS WIRE)–Cheetah Medical, a privately held and rapidly growing medical device company, announced today that its growth is outpacing the global hemodynamic monitoring systems market, which is expected to reach $1.1074 billion by 2019 at a CAGR of 4.5% during the forecast period, according to MarketsandMarkets, the world’s No. 2 firm in terms of annually published premium market research reports.
According to MarketsandMarkets, the global hemodynamic systems market is segmented into invasive, minimally invasive, and noninvasive hemodynamic monitoring systems. Cheetah Medical is the leading company in the noninvasive hemodynamic monitoring market segment.
Cheetah Medical’s sales have risen steadily since a study by Duke University physicians, presented at the most recent ASA annual meeting, concluded that more than $3 of costs can be avoided by hospitals for every $1 they spend during surgery by using noninvasive hemodynamic monitoring.
Use of noninvasive hemodynamic monitoring for assessing fluid responsiveness in a wide range of circulatory conditions as part of a preemptive strategy for fluid optimization is associated with decreased Length Of Stay (LOS), morbidity, and mortality following surgery. Unfortunately, data on the cost-effectiveness and budget impact of hemodynamic monitoring devices perioperatively has been limited.
Duke University assistant professor Thomas Hopkins, MD, Director of Quality Improvement at Duke University School of Medicine’s Anesthesiology Department, and colleagues have developed an innovative method—Budget Impact Analysis (“BIA”)—for determining the cost-effectiveness and budget impact of the capital investment necessary to support adding a noninvasive hemodynamic monitoring device to a hospital’s perioperative service offering.
“Our model shows more than $3 of costs avoided for each $1 spent perioperatively on noninvasive hemodynamic monitoring,” said Dr. Hopkins.
In addition to the strong economic reasons for adopting noninvasive hemodynamic monitoring, improved patient outcomes underscore the rationale and deliver the value. Growing evidence in both sepsis (ICU) & enhanced recovery after surgery (OR) demonstrates the importance of better management of intravenous fluids. “Too much or too little IV fluid is known to be harmful – it is important to get it ‘just” right,’” said Douglas Hansell, M.D., Chief Physician Executive for Cheetah Medical. “The challenge is knowing whether or not an individual patient will benefit from additional intravenous fluid or potentially be harmed. Growing medical literature highlights this problem and identifies the solution. Numerous studies have confirmed that only 50% of hemodynamically unstable patients respond favorably to additional intravenous fluid. In over half of hemodynamically unstable patients additional fluid can be harmful leading to poor outcomes and additional costs,” Dr. Hansell said.
Dynamic fluid assessment, using technology such as CHEETAH NICOM™, is the only way to know whether a patient will be helped or potentially harmed by additional fluid. Recently, both the National Quality Forum and European Society of Intensive Care Medicine have updated their guidance to include dynamic measures of fluid responsiveness for patients with severe sepsis or septic shock. Cheetah’s noninvasive hemodynamic monitoring system is the simple, reliable and cost-effective technology that enables this.
“Key opinion leaders are recognizing the enhanced patient benefits and the reduced costs attributed to fluid management. The FDA-cleared and CE-marked CHEETAH hemodynamic monitoring system is 100% noninvasive and, using the power of Bioreactance®, is designed to be the very best technology for continuous fluid assessment in the operating room or a critical care setting,” said Chris Hutchison, President and CEO of Cheetah Medical.
The CHEETAH system is the only 100% noninvasive product designed to provide real-time, continuous, and dynamic monitoring of IV fluids that has been validated against the previous ‘gold standards’ of PAC (Pulmonary Artery Catheter), EDM (Esophageal Doppler Monitoring), and thermo dilution catheter. CLICK HERE TO VIEW VIDEO, “A Physician’s Perspective.”
About Cheetah Medical
Headquartered in Newton, Mass., and approved in 60 countries including the U.S., Cheetah Medical is a rapidly growing medical device company with a breakthrough technology designed to set a new standard of care for noninvasive, beat-to-beat, user- and patient-friendly cardiac output monitoring. Cheetah Medical’s system has met with success in patients undergoing Guided Fluid Therapy during surgery, in critical care patients who are being fluid resuscitated to manage sepsis, and in trauma patients who have experienced high fluid loss. To learn more, please visit www.cheetah-medical.com
1 “Evaluating the Cost-Effectiveness of Hemodynamic Monitoring Devices Used for Perioperative Fluid Optimization: A Preliminary Budget Impact Analysis (BIA)” prepared by Thomas Hopkins, MD, MBA; Tim Miller, MB, ChB; Tong Joo Gan, MD, MHS; Department of Anesthesiology, Duke University Medical Center, Durham, N.C. Presented as a Poster at the 2014 annual meeting of the American Society of Anesthesiologist (ASA)
2 Kelm et al (2015) – “Fluid overload in patients with severe sepsis and septic shock treated with early goal directed therapy is associated with increased acute need for fluid-related medical interventions and hospital death.” Shock 42;68073.