Blood Flow Measurement Devices Market Research Report: Product (Ultrasound, Electromagnetic Blood Flow Meters), Application (Cardiovascular Disease, Diabetes, Gastroenterology), End-User (Hospitals & Clinics, Specialty Centers) – Global Forecast Till 2023
According to Market Research Future (MRFR), Blood Flow Measurement Devices Market is estimated to grow at a CAGR of 8.8% from 2018 to 2023 (forecast period).
Blood flow measurement devices are usually used to measure blood flow. This rate is based on the amount of blood flowing through the cross-section of the blood vessel per unit time. This is used to collect vascular assessment data from blood flow monitoring devices that help physicians maintain a balance between demand and supply of tissue oxygen to patients. Blood flow measurement devices play a very important role in the identification of a variety of clinical vascular disorders such as peripheral vascular diseases such as arterial occlusion, diabetic macro and microvascular complications. Some of the various types of blood flow measurement devices include electromagnetic blood flowmeters, laser doppler blood flowmeters, ultrasonic, and doppler blood flowmeters.
Market Dynamics
The market for global blood flow measurement devices is primarily driven by the high prevalence of cardiovascular diseases, the high incidence of obesity and the growing need for minimally invasive procedures. In addition, factors such as increased approvals for blood flow measurement devices, government initiatives and funding, increased demand for innovative therapies, increased research and clinical trials for blood flow measurement devices, and increasing industry players offering newer products are likely to drive the industry.
However, the high cost of blood flow measurement devices is likely to impede market development.
Segmentation
The global market for blood flow measurement devices is segmented into application, product, and end-user.
Based on product, the market for blood flow measurement devices is segmented into laser doppler blood flow meters, ultrasound, and electromagnetic blood flow meters
Based on ultrasound, the market is further sub-segmented into the multi-range doppler technology, transit-time flow meters, digital doppler, ultrasound doppler, and bilateral doppler.
Based on application, the market for blood flow measurement devices is segmented into cardiovascular diseases, diabetes, gastroenterology, tumor monitoring, CABG, microvascular surgery, and others.
Based on end-user, the market for blood flow measurement devices is segmented into ambulatory surgical centers, specialty centers, and hospitals and clinics.
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Regional Analysis
The global market for blood flow measurement devices is segmented into North America, Europe, the Asia Pacific, and the Middle East & Africa.
The North American market for blood flow measurement devices is a rising market in the Americas region. North America is split into the U.S. and Canada. The growing number of obese people and the rising prevalence of cardiovascular rates are likely to accelerate the growth of the market for blood flow measurement devices. In addition, the growing need for minimally invasive procedures, growing expenditure on healthcare, increasing the number of approvals for blood flow measurement devices, growing demand for technologically advanced treatments and products, along with increasing government support, are likely to boost the growth of the market for blood flow measurement devices in the North.
Europe is the second largest market and has a significant position in the global demand for blood flow measurement devices. The European market is projected to expand during the forecast period due to the availability of newer and more efficient treatment facilities and spending on healthcare, along with the increasing need for improved healthcare infrastructure. According to the European Heart Network, there were 11,3 million cases of cardiovascular diseases in Europe in 2015.
The Asia Pacific is predicted to be the fastest growing market in the world. The rising prevalence of chronic diseases is a significant driver of market growth. China is the fastest-growing area due to a growing population leading to an increase in the patient population. Increasing awareness of health and the availability of new treatment methods are driving the market in this area. Increasing healthcare investment and increasing living standards are driving the growth of the demand for blood flow measurement devices in the Asia Pacific region.
The Middle East and Africa are projected to show the least growth in the market due to some main factors such as lack of knowledge and inadequate access and convenience of treatment facilities. The United Arab Emirates in the Middle East is the largest market due to the growth of the healthcare sector and the growing availability of specialized treatment centers.
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Key Players
Some of the key players in the market for blood flow measurement devices are Medistim ASA, Cook Medical, Inc., Transonic Systems, Inc., Getinge Group, Deltex Medical Group PLC, Biopac Systems Inc., and Compumedics Limited, among others.
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