Blood Flow Measurement Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 9.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Blood Flow Measurement Devices Market Analysis
The blood flow measurement devices market is projected to register a CAGR of 9.2% during the forecast period (2022 - 2027).
The healthcare system has witnessed enormous challenges because of the COVID-19 pandemic. All outpatient treatments were postponed or restricted during the COVID-19 pandemic to reduce the risk of viral transmission as most chronic therapies were regarded as non-urgent. An article titled 'An emergency system for monitoring pulse oximetry, peak expiratory flow, and body temperature of patients with COVID-19 at home: Development and preliminary application' published in the journal PLOS One in March 2021 discussed the development and evaluation of an emergency system for monitoring patients with COVID-19, which may be useful in hospitals. Such developments in the time of the COVID-19 pandemic are expected to propel the growth of the blood flow measurement devices market in the forecast period.
Major chronic diseases including cardiovascular diseases are on the rise all over the world, which is adding to the growth of the blood flow measurement devices market. With increasing risks, there are also effective diagnostics that lead to the treatment and monitoring of patients. The rise in the number of cardiovascular disease cases plays an important role in healthcare. In addition, the growing number of factors attributing to the rise in cardiac diseases is increasing the market share for the blood flow measurement devices segment. For instance, according to the research study published in December 2021, titled 'Cardiovascular disease (CVD) and its associated risk factors among older adults in India: Evidence from LASI Wave 1', for older persons in India who were 45 years of age and above, the overall self-reported prevalence of diagnosed CVDs was 29.4%. also, as per the same source, age was linked to a higher risk of CVD and female older individuals had a higher CVD prevalence than male older adults. Hence, the high burden of cardiovascular diseases is expected to play a major role in the studied market.
Several research and development studies focusing on innovative blood flow measurement devices are also adding to the growth of the blood flow device measurement market. For instance, in September 2020, the Government of India Ministry of Science & Technology's article discussed a new cost-effective blood flow meter device by a team of researchers at the Sree ChitraTirunal Institute for Medical Sciences and Technology. The researchers indicated that the palm-sized device measures the flow rate of blood using a novel magnetic method and a signal conditioning technique and is compliant with national and international standards and guidelines and is manufactured using components sourced from established supply chains within the country. Such novel research in the design and manufacturing of blood flow measurement devices is expected to boost the growth of the studied market in the forecast period. However, the high cost of the blood flow measurement and limited reimbursement scenario are expected to hamper the market growth over the forecast period.
Blood Flow Measurement Devices Market Trends
This section covers the major market trends shaping the Blood Flow Measurement Devices Market according to our research experts:
Ultrasound Dopplers Segment is Expected to Hold a Major Market Share in the Blood Flow Measurement Devices Market.
Ultrasound dopplers hold the major segment in the blood flow measurement devices market. An article titled 'Essential notes on the physics of Doppler ultrasound' presented in the journal of BJA Education in April 2020 indicated that the use of low energy, non-ionizing waveform ultrasound in medicine for imaging, therapy, and measurement of blood velocity means that ultrasound exposures are thought to be less hazardous than other imaging modalities, though mild local tissue heating occurs with the absorption of ultrasound energy. The huge advantages of ultrasound dopplers over other blood flow measurement devices are expected to propel the growth of the segment in the forecast period.
Another article published in the journal of Ultrasonography in December 2020 titled 'Usefulness of Doppler sonography in aesthetic medicine' discussed the advantages of ultrasound dopplers in blood flow measurement for dermal and aesthetic medicines. The article indicated that though the imaging of skin vessels is currently rare, the method is very useful in the aesthetics division. The rise in the use of ultrasound dopplers in various medical sectors is expected to add to the growth of the segment in the blood flow measurement devices market in the forecast period.
Also, an article titled 'Diagnostic accuracy of Doppler ultrasound, CT and MRI in Budd Chiari syndrome: systematic review and meta-analysis' presented in the British Journal of Radiology in May 2020 evaluated the sensitivity, specificity, and diagnostic odds ratio (DOR) of Doppler ultrasound, CT, and MRI in the diagnosis of Budd Chiari syndrome (BCS). The article suggested that Doppler is an excellent first-line imaging test for patients suspected to have BCS. The advantages of Doppler ultrasound are easy availability and lower cost. Doppler ultrasound also provides functional information regarding stenosis. Such advantages are driving the growth of the market in the study period.
Also, the launch of novel blood flow measurement devices in the market is adding to the segment's growth over the forecast period. For instance, in August 2021, Trivitron launched SonoRad V60 Ultrasound devoted to delivering excellent imaging systems and exceptional image quality. The device is equipped with innovative color flow technology that improves blood flow visualization. Such product launches are expected to boost the growth of the studied market during the forecast period.
North America is Expected to Hold a Significant Share in the Market Over Forecast Period
The rise in the adoption of highly advanced techniques and systems in the manufacturing of blood flow measurement devices and the technological advancements made in blood flow studies is expected to boost the growth of the market in the North American region. The high awareness among the population on the availability of innovative blood flow measurement devices in the market contributes to the high market growth in the region.
The rising prevalence of chronic disease cases in the North American region is adding to the growth of the blood flow measurement devices market. For instance, according to the GLOBOCAN 2020 report, about 2.6 million cases of cancer were reported in Northern America region in 2020, which is further projected to increase to 3.5 million cases by 2040. Similarly, according to the July 2022 update of the Centers for Disease Control and Prevention (CDC), approximately 805,000 heart attack incidences are recorded every year in the United States, of which 605,000 people had a heart attack the first time and the remaining 200,000 were those who already had a heart attack before. Further as per the same source, about 1 in 5 heart attacks are silent which means the person had a heart attack but was not aware of it. Hence, the high burden of chronic diseases is expected to increase the requirement of diagnosis including blood flow measurement in the region which is expected to boost market growth over the forecast period.
In January 2021, Nuralogix launched their app Anura, allowing for contactless blood pressure measurement, without the need for cuffs or other wearables. Anura measures physical, physiological, and psychological indexes, including heart rate, stress levels, BMI, and cardiovascular disease risks with medical grade accuracy. The launch of such innovative devices is expected to boost the growth of the market. Thus, the increasing necessity for blood flow measurement devices coupled with increasing investment in the health care department is known to propel the growth of the market in this region.
Blood Flow Measurement Devices Industry Overview
The blood flow measurement devices market is fairly competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market areCook Group Incorporated, Medistim ASA, Compumedics, Deltex Medical Group, Perimed AB, ADInstruments, Atys Medical, Moor Instruments Ltd., SONOTEC GmbH, Transonic and others.
Blood Flow Measurement Devices Market Leaders
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Cook Group Incorporated
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Medistim ASA
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Perimed AB
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Compumedics
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Deltex Medical Group
*Disclaimer: Major Players sorted in no particular order
Blood Flow Measurement Devices Market News
- In May 2022, HealthTech AI company NuraLogix launched their 30-second contactless blood pressure and vital sign measurement technology in Singapore.
- In February 2022, Philips expanded its ultrasound portfolio with advanced hemodynamic assessment and measurement capabilities for real-time blood flow on its handheld point-of-care ultrasound, Lumify.
Blood Flow Measurement Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Cardiovascular Diseases and Growing Geriatric Population
4.2.2 Advancements in Product Technologies
4.3 Market Restraints
4.3.1 High Cost of Blood Flow Measurement Devices
4.3.2 Limited Reimbursement Scenario
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - in USD Millions)
5.1 By Product
5.1.1 Ultrasound Devices
5.1.1.1 Ultrasound Doppler
5.1.1.2 Transit-Time Flow Meters
5.1.2 Laser Doppler
5.2 By Application
5.2.1 Invasive
5.2.1.1 Microvascular Surgery
5.2.1.2 Coronary Artery Bypass Surgery
5.2.1.3 Others
5.2.2 Non-Invasive
5.2.2.1 Cardiovascular Disease
5.2.2.2 Gastroenterology
5.2.2.3 Tumor Monitoring
5.2.2.4 Others
5.3 By End-User
5.3.1 Hospitals
5.3.2 Ambulatory Surgical Centers
5.3.3 Others
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Cook Group Incorporated
6.1.2 Medistim ASA
6.1.3 Compumedics
6.1.4 Deltex Medical Group
6.1.5 Perimed AB
6.1.6 ADInstruments
6.1.7 Atys Medical
6.1.8 Moor Instruments Ltd.
6.1.9 SONOTEC GmbH
6.1.10 Transonic
6.1.11 Carolina Medical Inc.
6.1.12 ArjoHuntleigh, Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Blood Flow Measurement Devices Industry Segmentation
As per the scope of the report, blood flow measurement devices are used to monitor the blood flow in various blood vessels. The products include ultrasound and laser Doppler devices used for invasive and noninvasive applications. Devices such as Doppler and ultrasonics such as Transit Time Flow Meter (TTFM) and Laser Doppler are very useful for measuring blood flow through a cross-section of a blood vessel over a period of time. The blood flow measurement devices market is segmented by product (ultrasound devices (ultrasound doppler and transit-time flow meters) and laser doppler), application (invasive (microvascular surgery, coronary artery bypass surgery, and other), and non-invasive (cardiovascular disease, gastroenterology, tumor monitoring, and others)), end-user (hospitals, ambulatory surgical centers, and others) and geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America). The Market report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers values (in USD million) for the above segments.
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Blood Flow Measurement Devices Market Research FAQs
What is the current Global Blood Flow Measurement Devices Market size?
The Global Blood Flow Measurement Devices Market is projected to register a CAGR of 9.20% during the forecast period (2024-2029)
Who are the key players in Global Blood Flow Measurement Devices Market?
Cook Group Incorporated, Medistim ASA, Perimed AB, Compumedics and Deltex Medical Group are the major companies operating in the Global Blood Flow Measurement Devices Market.
Which is the fastest growing region in Global Blood Flow Measurement Devices Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Blood Flow Measurement Devices Market?
In 2024, the North America accounts for the largest market share in Global Blood Flow Measurement Devices Market.
What years does this Global Blood Flow Measurement Devices Market cover?
The report covers the Global Blood Flow Measurement Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Blood Flow Measurement Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Blood Flow Measurement Devices Industry Report
Statistics for the 2023 Blood Flow Measurement Devices market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Blood Flow Measurement Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
