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Blood flow measurement devices are used to measure blood flow through major blood vessels and organs of the body. The key products include Doppler ultrasound devices, laser doppler flowmeters, and electromagnetic blood flowmeters. Dopplers ultrasound are most commonly used noninvasive devices to measure blood flow volume in major vessels like carotid, femoral and abdominal arteries. Laser doppler flowmeters are used to measure microvascular blood flow in organs and tissues. Electromagnetic flowmeters require surgery for placement around vessels to take blood flow readings.
The Blood Flow Measurement Devices Market is estimated to be valued at US$ 639.5 million 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 Dynamics:
The growth of the blood flow measurement devices market is attributed to the increasing prevalence of cardiovascular disorders and growing focus on monitoring hemodynamic parameters. According to WHO, cardiovascular diseases are the leading cause of death globally, taking an estimated 17.9 million lives each year. Other major driver is increasing demand for noninvasive monitoring devices to reduce risks associated with invasive procedures. This is expected to propel the demand for doppler ultrasound devices during the forecast period. Additionally, advancements in technology leading to development of compact and portable blood flow meters for point-of-care monitoring will further boost the market growth over the next few years.
Segment Analysis
The blood flow measurement devices market is dominated by non-invasive devices segment. Non-invasive devices such as ultrasound-based devices, laser Doppler probes, and plethysmography devices measure blood flow without requiring any incision in the body. They are easy to use and safer than invasive devices. This reduces risks associated with surgical procedures and hospitals stay. Thus, these devices are gaining more popularity among patients and healthcare providers.
PEST Analysis
Political: Governments worldwide are taking initiatives to increase awareness about cardiovascular diseases through health campaigns. They are also funding for R&D in medical devices to tackle rising caseload of lifestyle diseases.
Economic: Developed markets continue to dominate market demand due to rising healthcare spending and large patient pool. However, emerging markets also offer lucrative opportunities for players owing to growing medical tourism and increasing income levels.
Social: Rising prevalence of lifestyle diseases like diabetes and obesity has increased risk of developing cardiovascular issues. Growing health and fitness consciousness is driving demand for blood flow monitoring devices for preventive healthcare.
Technological: Introduction of non-invasive and wireless devices with advances like thermal sensor technology, laser Doppler, and photo plethysmography has improved monitoring capabilities. Further improvements in miniaturization, data connectivity options are paving way for home healthcare.
Key Takeaways
The global Blood Flow Measurement Devices Market is expected to witness high growth, exhibiting CAGR of 8.8% over the forecast period, due to increasing lifestyle diseases and growing demand for self-monitoring devices. The market size for 2023 is estimated at US$ 639.5 million.
North America is expected to dominate the market during the forecast period. This is attributed to presence of major players, rising healthcare expenditure, availability of advanced devices, and rising incidence of cardiovascular diseases in the region. Asia Pacific region is anticipated to exhibit fastest growth rate owing to growing medical tourism, rising healthcare standards and large patient pool.
Key players operating in the Blood Flow Measurement Devices 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 focusing on new product launches, partnerships and geographic expansions to strengthen their market presence.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
