Market Size of Global Blood Flow Measurement Devices Industry
| 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 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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Global Blood Flow Measurement Devices Market Size Summary
The blood flow measurement devices market is experiencing significant growth, driven by the increasing prevalence of chronic diseases such as cardiovascular conditions globally. The COVID-19 pandemic has further accelerated the demand for these devices, as innovations in remote monitoring systems highlighted their importance in healthcare settings. The market is characterized by the development of advanced diagnostic tools and technologies, including novel blood flow meters and ultrasound dopplers, which are gaining traction due to their non-invasive nature and effectiveness in various medical applications. These advancements are expected to enhance the market's expansion during the forecast period, despite challenges such as high costs and limited reimbursement options.
In North America, the market is poised for substantial growth due to the rising incidence of chronic diseases and the adoption of advanced healthcare technologies. The region's high awareness of innovative blood flow measurement devices and significant investments in healthcare infrastructure contribute to this growth. The competitive landscape is dominated by key players like Cook Group Incorporated, Medistim ASA, and Compumedics, who are actively involved in launching new products and expanding their portfolios. The introduction of contactless measurement technologies and enhanced ultrasound capabilities further underscores the market's dynamic nature, promising continued expansion in the coming years.
Global Blood Flow Measurement Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevalence of Cardiovascular Diseases and Growing Geriatric Population
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1.2.2 Advancements in Product Technologies
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1.3 Market Restraints
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1.3.1 High Cost of Blood Flow Measurement Devices
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1.3.2 Limited Reimbursement Scenario
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - in USD Millions)
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2.1 By Product
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2.1.1 Ultrasound Devices
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2.1.1.1 Ultrasound Doppler
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2.1.1.2 Transit-Time Flow Meters
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2.1.2 Laser Doppler
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2.2 By Application
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2.2.1 Invasive
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2.2.1.1 Microvascular Surgery
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2.2.1.2 Coronary Artery Bypass Surgery
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2.2.1.3 Others
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2.2.2 Non-Invasive
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2.2.2.1 Cardiovascular Disease
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2.2.2.2 Gastroenterology
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2.2.2.3 Tumor Monitoring
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2.2.2.4 Others
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2.3 By End-User
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2.3.1 Hospitals
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2.3.2 Ambulatory Surgical Centers
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2.3.3 Others
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Global Blood Flow Measurement Devices Market Size 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.
