by The blood flow measurement devices market is estimated to be valued at US$ 695.78 Mn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Blood flow measurement devices are used to measure blood flow in arteries and veins non-invasively. These devices use different technologies such as ultrasound (Doppler ultrasound), electromagnetic sensors, and laser Doppler to measure blood flow rate, volume, and velocity. Devices available in the market are duplex ultrasound devices, transcranial Doppler devices, and laser Doppler perfusion monitoring devices. These devices find wide applications in research, diagnosis, and evaluation of blood circulation problems, cardiovascular diseases, and peripheral arterial diseases.
Market Dynamics:
Key growth drivers of the market include increasing prevalence of cardiovascular diseases, growing geriatric population, and technological advancements in blood flow measurement devices. According to the Center for Disease Control and Prevention, cardiovascular diseases are the leading cause of death globally, taking an estimated 17.9 million lives each year. Rising sedentary lifestyle and consumption of junk food have contributed to the increasing incidence of cardiovascular diseases over the years. As blood flow measurement plays a vital role in diagnosis and management of these diseases, demand for non-invasive blood flow measurement devices is growing significantly.
Moreover, technological advancements are enabling development of miniature, portable, and non-invasive blood flow measurement devices. For instance, manufacturers are developing transcutaneous devices that can provide blood flow measurements without the use of cuffs or venous cannulation. Such innovative products are increasing adoption among healthcare professionals as well as patients.
Segment Analysis
The global blood flow measurement devices market is dominated by the doppler ultrasound sub-segment. Doppler ultrasound systems are widely used for blood flow measurement as it provides accurate, non-invasive measurement and allows real-time visualization of blood flow. It has advantages over other modalities such as it causes no harm to patients and monitors blood flow continuously without interrupting natural blood flow.
PEST Analysis
Political: Governments across countries are increasingly investing in healthcare infrastructures and promoting campaigns to raise awareness about cardiovascular diseases which is positively impacting the market.
Economic: Rising healthcare expenditure backed by economic growth in emerging nations is fueling the demand for advanced blood flow measurement devices for improved diagnostics and therapeutics.
Social: Growing geriatric population and increasing prevalence of lifestyle diseases like diabetes, hypertension etc. requiring regular monitoring of blood flow is driving the market growth.
Technological: Launch of advanced doppler ultrasound systems and laser doppler flowmeters with improved functionality, portability and reduced cost is boosting the adoption rate.
Key Takeaways
The Global Blood Flow Measurement Devices Market Demand is expected to witness high growth, exhibiting CAGR of 8.8% over the forecast period, due to increasing incidence of cardiovascular diseases. The market size for 2023 is estimated at USD 695.78 Mn.
Regional analysis: North America dominates the global market followed by Europe. This is attributed to robust healthcare infrastructure, favorable reimbursement policies and growing elderly population suffering from circulatory complications in these regions. Asia Pacific is expected to witness fastest growth owing to rising medical tourism, increasing healthcare spending and growing awareness.
Key players operating in the blood flow measurement market are Arjo, Atys Medical, Compumedics Ltd., Cook Medical Inc., Deltex Medical Ltd., GF Health Products, Inc., Medistim ASA, Moor Instruments Ltd., Perimed AB, Transonic Systems, Inc., Medtronics, Biomedix Inc, AKW Medicals Inc., D E Hokanson Inc., Elcat GmBH, Flowtronics Inc., Ace Medicals, Carolina Medical Plc, and Compumedics Ltd. Major players are focused on new product launches, mergers and collaborations to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
