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The global blood flow measurement devices market offers significant advantages for accurate diagnosis and treatment of various cardiovascular disorders. Blood flow measurement devices help in non-invasive quantification of blood flow through arteries and veins using ultrasound technology. Devices such as Doppler ultrasound, laser Doppler, and electromagnetic/thermomagnetic flow meters find wide applications in comprehensive cardiovascular health evaluation, vascular assessment, and hemodynamic monitoring across hospitals, ambulatory surgical centers, and research & academic institutes.
The Global blood flow measurement devices market is estimated to be valued at US$ 639.5 million in 2024 and is expected to exhibit a CAGR of 8.8% over the forecast period 2023 to 2030.
Key Takeaways
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.
The growing prevalence of cardiovascular diseases such as coronary artery disease, cerebrovascular disease, and peripheral arterial disease is a major factor driving the demand for accurate blood flow measurement technologies. According to estimates by the World Health Organization, cardiovascular diseases account for over 18 million deaths annually across the globe.
Promising investment and innovation in the medical devices industry have led to the development of advanced non-invasive and portable blood flow measurement solutions suitable for clinical as well as home healthcare settings. This has accelerated the global expansion of the blood flow measurement devices market in recent years.
Market Key Trends
The rising popularity of wearable blood flow sensors integrated with smartphone connectivity is one of the key trends shaping the future of the blood flow measurement devices market. These innovative solutions allow for continuous remote monitoring and big data analysis, thereby improving disease diagnosis and management. Lower prices of consumer-focused devices are further expected to benefit widespread adoption in the coming years.
Porter’s Analysis
Threat of new entrants: The blood flow measurement devices market requires huge capital investment for R&D and manufacturing. Regulations in healthcare industry makes entry difficult for new players.
Bargaining power of buyers: The healthcare providers and hospitals have significant bargaining power in this market as they can negotiate for discounts and better services.
Bargaining power of suppliers: Major players dominating this consolidating market gives less bargaining power to component suppliers and original equipment manufacturers.
Threat of new substitutes: There are limited product substitutes for blood flow measurement devices used in diagnosis and treatment.
Competitive rivalry: The market is competitive with presence of global as well as regional players. Players compete on product innovation, quality and price.
Geographical Regions
North America accounts for the largest share of the blood flow measurement devices market in terms of value. Factors such as increasing prevalence of cardiovascular diseases, growing health awareness and availability of advanced healthcare infrastructure drives the market in the region.
Asia Pacific is poised to exhibit the fastest growth during the forecast period. Rapid economic development, rising healthcare expenditure, growing geriatric population and increasing obesity are some factors fueling the demand for blood flow measurement devices in Asia Pacific region. Countries such as China and India provide huge untapped market opportunities.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
