The blood flow measurement devices market is witnessing significant growth over the past few years owing to the increasing prevalence of cardiovascular diseases worldwide. Blood flow measurement devices help doctors in non-invasive monitoring and diagnosis of cardiovascular conditions in patients by measuring blood flow volumetrically or velocity in major arteries and veins. These devices aid clinicians in diagnosing conditions such as peripheral artery disease, deep vein thrombosis, and stroke more accurately.
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.
Rising risk factors for cardiovascular diseases including obesity, diabetes, and lifestyle changes have augmented the demand for devices that aid early detection and management of conditions affecting blood flow. blood flow measurement devices offer minimal invasiveness and improved patient comfort compared to other conventional diagnostic methods.
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.
Key opportunities in the market include rising healthcare spending in emerging nations and growing acceptance of technologically advanced medical devices. The availability of reimbursement for these diagnostic procedures especially in developed countries is further boosting market revenue.
Globally, the market is witnessing expansion opportunities with companies investing in new product development and establishing manufacturing facilities in regions with high unmet clinical needs. Partnerships with hospitals and vascular centers are helping companies to gain greater market access in regions with limited availability of quality healthcare infrastructure.
Market Drivers
One of the key drivers for the blood flow measurement devices market is the rapidly growing geriatric population worldwide who are more prone to developing cardiovascular issues. According to WHO, the number of people aged 65 years and above is projected to reach 1.5 billion by 2050 from 703 million in 2019. This trend is likely to significantly increase the demand for devices used to accurately diagnose and manage blood flow conditions in the elderly.
Market Restrains
High costs associated with advanced blood flow measurement devices is a major challenge, limiting widespread adoption, especially in low and middle-income countries. Additionally, lack of skilled professionals trained to use complex vascular diagnostic equipment and insufficient reimbursement coverage in certain regions also hinder market growth to some extent.
Segment Analysis
The blood flow measurement device market can be segmented into doppler ultrasound devices, laser doppler devices, and electromagnetic blood flow meters. The doppler ultrasound devices segment dominates the market owing to its non-invasive nature, ability to measure flow in small vessels without stopping blood flow, and portability. It is commonly used to measure blood flow in various arteries and veins.
The laser doppler devices segment is growing due to increasing applications in dermatology, dentistry, physiology and tissue viability. These devices are used to measure changes in cutaneous blood flow and tissue viability. The electromagnetic blood flow meters segment has moderate growth as these devices are used majorly for research in laboratories and hospitals for measuring blood flow through major arteries and veins during surgeries.
Global Analysis
The North America region dominates the global blood flow measurement devices market due to high prevalence of cardiovascular diseases, growing elderly population, favorable reimbursement policies, and presence of key players. The Asia Pacific region is expected to exhibit fastest growth during the forecast period due to growing healthcare infrastructure, rising medical tourism, increasing prevalence of lifestyle diseases, and growing geriatric population. Europe holds a significant share in the global market driven by availability of advanced technologies, strong research support from private and government bodies, and presence of key global players.
