The size of the global blood flow measurement devices market size was worth USD 447.4 million in 2020. This market is growing a CAGR of 9.29 % to reach USD 697.7 million by 2025.
Blood flow measurement devices are used to detect and measure blood flow among the body's different organs like veins and arteries. Blood flow provides the transportation of nutrients, hormones, oxygen to the entire body in maintaining cell metabolism, and the body's temperature.
There are constant blood flow volumes in the body that vary with the organ's vitality and needs. Some blood flow values are 100 to 250 cm/s in the aorta, the abdominal segment contains 100 cm/s blood flow, and the concave vein needs a continuous blood flow of about 5 to 10 cm/s. Blood acts as a food and nutritional support for various organs, and an adequate amount of blood is essential for their proper functioning.
Besides, various diseases and disorders such as hypertension and diabetes can lead to a variation in blood supply to the organs, which, if left untreated, can lead to organ failure. Blood flow measurement can provide vital information that can be analyzed for accurate diagnosis of the diseases.
Growth in cardiovascular disease and diabetes incidence across the globe is also predicted to support the market's growth rate. As the American Heart Association published it, an estimated 31% of the United States' deaths were happened due to heart-related issues in 2015. The aging population is another significant factor estimated to augment the global blood flow measurement devices market's growth. Increasing spending on healthcare is further predicted to boost market growth. According to Disease Control and Prevention, the United States is spending nearly 3.2 trillion USD on healthcare expenditure for the people, and 90% of the amount is allotted to treat chronic and mental health disorders.
The other factors that boost the growth of the blood flow measurement devices market are Increase in non-communicable diseases is also expected to stimulate market growth. Growing technological developments is also a driving factor for global blood flow measurement devices market growth.
The increasing number of tech-advanced blood flow measurement device approvals is also expected to hike the market's growth rate during the forecast period.
Entering the unused market and developing clinical applications for blood flow meters is an opportunity for the blood flow measuring devices market. The worldwide market for blood flow meters is consolidated, with some key players have the most significant share due to active R & D activities. Players are developing innovative products to capitalize on lucrative opportunities in the Blood Flow Measurement Devices Market.
The major challenge limiting the growth of the blood flow measurement devices market is the development of alternative methods for the treatment of cardiovascular diseases. The high cost of the devices, strict government rules in developed nations, and the shortage of expert professionals, and unfavorable reimbursement policies are considered significant restraints to the global blood flow measurement devices market.
COVID-19 IMPACT ON BLOOD FLOW MEASUREMENT DEVICES MARKET
The blood flow measurement devices market has recorded significant market growth before the arrival of COVID-19. The market has its supply chain across the world, but due to the sudden lockdown implementation, the market had been disrupted.
Market growth of Blood Flow Measurement Devices Market is segmented into Positive and negative impact
Negative impact: During March 2020, the prevalence of the virus was high, and it nearly spread to 219 countries. It is an infectious disease that spreads quickly from person to person. To control the spread, governments imposed nationwide lockdown and a ban on flights and other transportation. The blood flow measurement devices market growth is segmented into different countries; due to the sudden emergence, the exchange of devices between the countries had been stopped. Also, due to the stringent government guidelines and limited manufacturing of devices had been partially seized.
Positive impact: The blood flow measurement devices market recorded significant market growth. The demand for the devices has been increasing after the uplift of lockdown. The rise in the number of cardiovascular diseases and diabetes during the COVID-19 has positively impacted the market growth. Manufacturers are producing these devices as per the required demand. The supply chain across the globe has accelerated. The market is projected to increase its share during the forecast period.
Market Size Available
2019 – 2025
2020 – 2025
By Product, Application, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East and Africa
This research report on the Global Blood Flow Measurement Devices Market has been segmented and sub-segmented based on the product, application, and region.
Blood Flow Measurement Devices Market - By Product:
Based on the product, the ultrasound segment has contributed the largest share of the worldwide market for blood flow meters. In 2019, the Doppler ultrasonic segment had dominated the global ultrasound market leading to the growth of blood flow measurement devices and estimated to be growing at the same high pace during the forecast period.
Blood Flow Measurement Devices Market - By Application:
Based on application, in 2019, cardiovascular disease has contributed to the significant share of revenues to the world market among the non-invasive applications. It is likely to maintain the trend during the forecast period.
The CABG segment represented the largest share of the world market in 2019. The development of this segment can be attributed to a large number of CABG surgeries performed worldwide.
Blood Flow Measurement Devices Market - By Region:
Presently, North America is leading the market by contributing the largest share of revenues in the given timeframe due to the geriatric population's growth and the prevalence of cardiovascular disease, the increased frequency of hypertension in the people, and increased funding. Likewise, technological advancements and the increasing number of organ transplants fuel the market for blood flow meters in North America.
The European is estimated to increase at a favorable rate from 2020 to 2025. This region is observed to be the second-largest market due to growing government assistance and enhanced healthcare infrastructure, together with an increasing need for minimally invasive treatment.
Over the next few years, the market is likely to witness the maximum growth rate in the Asia-Pacific region owing to the increasing pervasiveness of non-communicable diseases, the rise in the geriatric population, and the growing attention of industry players in the area. India and China are leading the market with quick enhancements in healthcare expenditure, new product launches, and growing demand for diagnostic services is to boost the market.
In terms of market share, Latin America is predicted to hike at a steady rate during the assessment period. Brazil is dominating Latin America and is estimated to continue the same trend during the forecast period.
The blood flow measurement devices market in the Middle East & Africa region is expected to have the least and moderate growth. UAE is leading the market owing to the enhancement of the healthcare industry and the increasing and rising availability of specialty care centers.
NOTABLE COMPANIES IN THE MARKET
List of key market participants playing a leading role in the Global Blood Flow Measurement Devices Market profiled in the report are Cook Medical, Inc., BIOPAC Systems, Inc., Atys Medical, SONOTEC Ultraschallsensorik Halle GmbH, Moor Instruments Ltd., ADInstruments, Deltex Medical Group plc, Compumedics Ltd., Transonic Systems, Inc., Perimed AB, and Medistim ASA
RECENT MARKET DEVELOPMENTS
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Ultra Sound
18.104.22.168 Ultrasound Doppler
22.214.171.124 Transit-Time Flow Meters
5.1.3 Laser Doppler
5.1.4 Y-o-Y Growth Analysis, By Product
5.1.5 Market Attractiveness Analysis, By Product
5.1.6 Market Share Analysis, By Product
5.2.2 Non-Invasive Applications
126.96.36.199 Cardiovascular Disease
188.8.131.52 Tumour Monitoring
184.108.40.206 Other Non-Invasive Applications
5.2.3 Invasive Applications
220.127.116.11 Microvascular Surgery
18.104.22.168 Other Invasive Application
5.2.4 Y-o-Y Growth Analysis, By Application
5.2.5 Market Attractiveness Analysis, By Application
5.2.6 Market Share Analysis, By Application
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Product
188.8.131.52 By Application
6.1.4 Market Attractiveness Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Product
18.104.22.168 By Application
6.1.5 Market Share Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Product
188.8.131.52 By Application
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Moor Instruments Ltd. (U.K.)
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Compumedics Ltd. (Australia)
8.3 Transonic Systems, Inc. (U.S.)
8.4 Cook Medical, Inc. (U.S.)
8.5 Perimed AB (Sweden)
8.6 Medistim ASA (Norway)
8.7 ADInstruments (Australia)
8.8 Deltex Medical Group plc (U.K.)
8.9 BIOPAC Systems, Inc. (U.S.)
8.10 Atys Medical (France)
8.11 SONOTEC Ultraschallsensorik Halle GmbH (Germany)
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures