Blood Flow Measurement Devices Market Demand, Size, Share, Growth Opportunities, Market Potential, Segmentation, Trends & Global Industry Forecast to 2032
Blood Flow Measurement Devices Market Highlights
Blood Flow Measurement Devices Market Size was valued at USD 0.2 billion in 2022. The Blood Flow Measurement Devices market industry is projected to grow from USD 0.217 Billion in 2023 to USD 0.43 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.8% during the forecast period (2023 - 2032).
Blood flow measurement devices are measurement devices that are used by the physician to understand the nature of the blood flow such as the amount of blood supplied to various vital organs and abnormal changes in the blood flow velocity, which can cause malformation of vessels.
The growth of the market is due to the increasing cardiovascular disorders, increasing obesity rates, and growing demand for minimally invasive procedures. Entering the untapped market is an opportunity for the blood flow measurement devices market. Similarly, the high cost of the devices and lack of skilled professionals can hamper the growth of the market.
Regional Analysis
The Americas dominates the global blood flow measurement devices market report owing to the increasing aging population, which eventually leads to the increasing patient population. Additionally, the increasing obesity rate along with increasing cardiovascular disorder rates are likely to enhance the growth of the blood flow measurement devices market in the North American region. According to the American Heart Association, in 2015, 31% of the deaths in the U.S. were due to cardiovascular disorders. Similarly, according to the Centre for Disease Control and Prevention, in 2015, around USD 3.2 trillion was spent on healthcare expenditure in the U.S.
Europe accounts for the second largest market due to increased cardiovascular disorders and increasing obesity rates. Additionally, the increasing government support and improved healthcare infrastructure along with the increasing demand for minimally invasive treatments are driving the growth of the blood flow measurement devices market in Europe. For instance, Eurostat estimated that over 19.2% of the population in Europe was aged 65 and above. This increasing older population is likely to lead to the increasing patient population. These factors are likely to drive the growth of the blood flow measurement devices market.
Asia Pacific is the fastest growing market for blood flow measurement devices whose growth is attributed to the increasing population and the improving standard of living. Additionally, increasing healthcare expenditure and demand for new treatment options along with the rise in government support are likely to drive the growth of the market. India and China are the major contributors to the market growth due to the rapid development of healthcare infrastructure in these regions and increasing demand for diagnostic services.
On the other hand, the Middle East and Africa is expected to witness a slow growth due to limited access to healthcare facilities and affordability issues among individuals. In the Middle East, the growth of the market is driven by the increasing availability of new and advanced diagnostic and treatment methods for various chronic diseases.
Segmentation
The global blood flow measurement devices market is segmented based on application, product, and end-user.
By product, the market is segmented into electromagnetic blood flow meters, laser Doppler blood flow meter, and ultrasound.
By ultrasound, it is further sub-segmented into multi-range doppler technology, transit-time flow meters, digital doppler, ultrasound Doppler, and bilateral doppler.
By application, the market is segmented into cardiovascular disease, diabetes, gastroenterology, tumor monitoring, CABG, microvascular surgery, and others.
By end-user, the market is segmented into ambulatory surgical centres, specialty centres, and hospitals and clinics.
Blood Flow Measurement Devices Market Players
Some of the top blood flow measurement devices market players are Medistim ASA, Cook Medical, Inc., Getinge Group, Deltex Medical Group PLC, Transonic Systems, Inc., Compumedics Limited, and Biopac Systems Inc., among others.
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