Blood flow measurement devices are medical equipment used to measure the blood flow through large and small blood vessels and determining blood circulation issues in patients. Blood flow measurement devices are non-invasive tools that are easy to use and painless for patients. These devices help doctors diagnose conditions related to blood flow such as peripheral artery disease, deep vein thrombosis, and pulmonary embolism.
The global 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 key trends:
One of the key trends in the blood flow measurement market is the increasing adoption of non-invasive blood flow measurement devices. Traditionally, invasive techniques like angiography was used to measure blood flow. However, non-invasive devices like Doppler ultrasound systems are gaining more preference from healthcare providers as well as patients due to their safety, cost-effectiveness, and portability. Further, technological advancements are allowing manufacturers to develop compact and accurate Doppler ultrasound devices which can be used at the point-of-care or ambulance settings. Rising demand for home healthcare is also fueling the demand for non-invasive and portable blood flow measurement devices.
SWOT Analysis
Strength: Blood flow measurement devices provide non-invasive and precise measurements of blood flow, which helps in easy diagnosis of cardiovascular diseases. These devices offer safety and convenience over invasive procedures.
Weakness: High cost of advanced blood flow measurement devices limits their adoption in budget constrained settings. Lack of sufficient healthcare infrastructure in developing countries further hinders the market growth.
Opportunity: Rising geriatric population worldwide increasing the risk of cardiovascular diseases presents an opportunity for market players. Growing healthcare expenditure in emerging economies also offers potential for market expansion.
Threats: Presence of alternatives like angiography and Doppler ultrasonography poses competition to blood flow measurement devices. Stringent regulations for new product launches may also restrict market growth.
Key Takeaways
The global blood flow measurement devices market size is expected to witness high growth, exhibiting a CAGR of 8.8% over the forecast period, due to increasing prevalence of cardiovascular diseases worldwide.
Regional analysis
North America dominates the global market and is expected to continue its dominance during the forecast period. This is attributed to growing healthcare expenditure, rising awareness about cardiovascular disorders, and new product launches. Asia Pacific blood flow measurement devices market is projected to exhibit the fastest growth during the analysis period owing to developing healthcare infrastructure and expanding target patient pool in countries like China and India.
Key players
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. These major participants are focusing on geographical expansion and new product development activities to gain competitive edge in the market.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
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