>
The market size of blood flow measurement devices is expected to get to USD 0.43 billion by 2032, increasing at a rate of 8.8% CAGR throughout the forecast period. Various factors influence the blood flow measurement device market, which plays a crucial role in shaping its dynamics. One thing that drives this market is the growing incidences of heart disease all over the world. This demand for accurate and efficient blood flow measuring instruments increases with this rise in cardiac conditions, which leads to growth in this market. Another factor for consideration includes technological advancements. The integration of ultrasound with Doppler techniques is among the innovations going on in blood flow measuring technologies, making these devices more accurate and reliable. As a result, healthcare institutions continue adopting these technologies because they are continuously evolving.
Government initiatives and healthcare policies also exert a substantial impact on the Blood Flow Measurement Devices Market. Therefore, there have been increased initiatives to use advanced diagnostic tools such as blood flow meters through preventive healthcare measures and early detection of diseases like cancer, amongst others. In addition, an increase in awareness has been noted both among health care providers as well as the general population regarding regular health check-ups' importance; this affects the way BFM devices are sold, thus affecting its market shares positively since people want them nowadays for their homes, too. With an increase in information about cardiovascular diseases, prompt availability and use become key drivers for the adoption of these tools into routine clinical practices where screening pre-symptomatic stages would be beneficial. In contrast, campaigns from medical organizations ensure healthier consumer choices by informing patients better, thus fueling sales volumes when promotions shift focus toward preventative solutions.
Economic factors also play a role in determining how the Blood Flow Measurement Devices Market shapes its market structure. High levels of economic development usually lead to higher investments made into new medical technology due to rising expenditure on healthcare services, which comes along with growing economies. Willingness among healthcare facilities to invest in high-end blood flow meters encourages significant market growth. Various global partnerships and collaborations animate the healthcare industry. Collaborations with medical device manufacturers, research institutions, and providers of healthcare services have helped facilitate the creation of novel blood flow measurement devices. Finally, the competitive scenario and regulatory framework significantly impact this market's scope for development. Rigorous regulations are there to ensure that such devices are safe and effective, which gives confidence to both physicians and end users. In addition, stiff competition in the market pushes producers continuously to enhance their product offerings, leading to innovation and technological improvement in this field.
Report Attribute/Metric | Details |
---|---|
Growth Rate | Â 8.8% (2023-2032) |
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).
The need for blood flow measurement equipment is rising as diabetes and disorders associated with cardiovascular problems become more prevalent in the general population. Blood flow scanning is also necessary for real-time monitoring during operations and disorders caused by lifestyle choices. The need for healthcare facilities to treat patients with cardiovascular disorders is forcing industry leaders to use cutting-edge technology to manage traffic, a growing market for blood flow measurement equipment, thus driving the growth of the Blood Flow Measurement Devices market.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
In February 2024, Panasonic Corporation, along with its Electric Works Company, will begin accepting orders for a new product specifically intended for the Chinese market. This product is an ultrasonic flow and concentration meter for hydrogen, capable of measuring both the flow and concentration of hydrogen in high-humidity situations. In recent years, there has been a global increase in attempts to attain carbon neutrality, leading to a heightened focus on promoting the use of hydrogen energy. Fuel cells derive their electricity from a chemical process that occurs between hydrogen and oxygen present in the air.
The significance of their research and development is growing, since there are high hopes for progress in energy efficiency, product durability, and additional cost reductions. Last year, The Electric Works Company introduced the GB-L1CMH1A, an ultrasonic flow and concentration meter for hydrogen. This product has garnered favorable feedback from numerous clients in Japan and abroad, including China. Starting on February 14, 2024, the company will begin accepting orders for the ultrasonic flow and concentration meter designed for measuring hydrogen in the Chinese market, in response to the expected increase in demand. The utilization of this product is anticipated to expedite the advancement of research and development in hydrogen-related apparatus, such as fuel cells and water electrolyzers.
In June 2023, STAT Health, a digital health business located in the US, launched a wearable general wellness product that can be worn in the ear. This product continuously analyzes blood flow to the brain, providing valuable insights into the body's response when standing up. The technology, being the world's smallest wearable, aims to alleviate symptoms such as dizziness, cognitive impairment, headaches, loss of consciousness, and exhaustion.
These symptoms are often experienced by individuals with conditions like long Covid, postural orthostatic tachycardia syndrome, and myalgic encephalomyelitis/chronic fatigue syndrome, which involve reduced blood flow to the brain when standing. Over 13 million Americans are impacted by these illnesses. The wearable gadget underwent clinical testing at Johns Hopkins and was subjected to peer review in the March 2023 edition of the Journal of the American College of Cardiology. It has the ability to anticipate an individual losing consciousness moments before it occurs and can be worn with over 90% of ear-related or ear-adjacent equipment. Additionally, it can be worn throughout sleep and showering, reducing the chances of inadvertently removing the device and neglecting to put it back on.
In May 2022, HealthTech AI company NuraLogix unveiled its contactless blood pressure and vital sign measurement technology that could measure the same in just 30 seconds’ time.
Philips expanded on their ultrasound portfolio by developing Lumify, a handheld point-of-care ultrasound that includes advanced hemodynamic assessment and measurement capabilities for real-time blood flow, in February 2022.
For instance, Trivitron launched SonoRad V60 Ultrasound dedicated to enhance image systems and superior image quality in August 2021. The device employs an advanced color flow technique to enrich visualization of blood flow. These product launches are also anticipated to drive growth during the forecast period of this research study.
In March 2021, Cardiovascular Systems, Inc. (CSI®) (NASDAQ: CSII) reported today that it has acquired a line of peripheral support catheters from WavePoint Medical, LLC.
Perflow Medical announced today the launch of Cascade17 Non-Occlusive Remodeling Net into the European market—an Israeli private company dealing with innovative solutions for neurovascular treatment strategies—Cascade17 further complements other interventional devices such as Cascade-8A, which provides non-coil embolization support especially in distal and tortuous vessels during Small Aneurysm Coiling Assistance
Nuralogix app Anura was launched in January 2021 for contactless blood pressure measurement without cuffs or wearables being needed among other measurements. The Anura offers medical grade accuracy on physical parameters like heart rate; stress levels; BMI as well as psychological indexes such as cardiovascular disease risks. The launch of such innovative devices is expected to boost the growth of the market.
In January 2021, Medistim announced their distributor agreement with LivaNova regarding distribution of Medistim products within India’s boundaries.
The blood flow measurement equipment market is expanding due to the increasing prevalence of cardiovascular disease, diabetes and the growing geriatric population worldwide. The increased prevalence of obesity and consumers' growing preference for minimally invasive diagnostic techniques drive the market expansion for blood flow measurement devices. The market for blood flow measuring devices is further influenced by the rising demand for cutting-edge treatments as well as government funding and grant programs. The market for blood flow measurement devices is also positively impacted by technological advancements, research and clinical trials for blood flow measurement devices, a surge in investments, improved healthcare infrastructure, a rise in disease awareness and early disease diagnosis, and a rise in healthcare spending. The projection period presents a lucrative potential for the manufacturers of blood flow measurement devices due to rising approvals for such devices and a largely untapped market for transit-time blood flow meters. Thus, this factor is driving the market CAGR.
Devices for measuring blood flow are frequently used for diagnosis, including determining the rate at which blood flows through the body's blood arteries, performing skin tests, and evaluating burns, among others. Also, they help doctors balance patient tissue oxygen supply and demand in peripheral vascular disease, arterial blockage, and macrovascular problems. Thus, it is anticipated that this aspect will accelerate Blood Flow Measurement Devices market revenue ly.
The Blood Flow Measurement Devices market segmentation, based on product includes electromagnetic blood flow meters, laser doppler blood flow meters, ultrasound, multi-range doppler technology, transit-time flow meters, digital doppler, ultrasound doppler, bilateral doppler. The Ultrasound segment held the majority share in 2022 in the Blood Flow Measurement Devices market data. According to a market analysis of blood flow measuring devices, the factors driving the segment's growth include using these devices in cancer therapy to monitor blood flow before, after, and even during surgery. It aids treatment in cardiovascular care by closely monitoring the heart and blood flow.
The Blood Flow Measurement Devices market segmentation, based on application, includes cardiovascular diseases, diabetes, gastroenterology, tumor monitoring, cabg, microvascular surgery, other. The cardiovascular diseases segment dominated the market growth in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030 The fact that it is used to treat the most prevalent illnesses, which are on the rise, contributes to its growth potential. They include gastroenterology, diabetes, tumour monitoring, and cardiovascular disorders. The market for blood flow measurement equipment gets a boost as a result, hence contributing in the growth of the Blood Flow Measurement Devices market
The Blood Flow Measurement Devices market segmentation, based on end-user includes ambulatory surgical centers, specialty centers, hospitals and clinics. The organ banks segment dominated the market growth in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The growth of hospitals & clinics for public services is the main factor driving acceptance of this end-user category and propelling market expansion, hence contributing in the growth of the Blood Flow Measurement Devices market.
Figure 1 Blood Flow Measurement Devices Market, by End-User, 2022 & 2030 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America Blood Flow Measurement Devices market accounted for USD 0.0916 billion in 2022 with a share of around 45.80% and is expected to exhibit a significant CAGR growth during the study period. The regional blood flow measurement devices market in the U.S. dominated the market due to North America's robust healthcare system and early acceptance of new health technology in community healthcare venues. With the introduction of technologically cutting-edge blood flow measuring technologies like ultrasound blood measurement, strong research and development (R&D) initiatives driven by new healthcare welfare schemes have gained traction while boosting national healthcare systems. Due to the increased market space, new vendor enterprises have expanded in this area. New product development, partnerships, partnerships, expansions, mergers, and acquisitions are the main strategies used by the organisations in the market.
Further, the major countries studied in the market report are The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2 BLOOD FLOW MEASUREMENT DEVICES MARKET SHARE BY REGION 2022 (%)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Blood Flow Measurement Devices market accounts for the second-largest market share. It is because it holds a sizable portion of the market for blood flow measurement devices. Due to more modern and enhanced treatment facilities and increased healthcare spending to match the demand for better healthcare infrastructure, the region is also predicted to experience a healthy growth rate. Moreover, UK Blood Flow Measurement Devices market held the largest market share, and the Germany Blood Flow Measurement Devices market was the fastest growing market in the region.
Asia Pacific Blood Flow Measurement Devices Market is expected to grow at the fastest CAGR from 2022 to 2030. The use of blood flow measurement devices has expanded recently, with China and Japan seeing the greatest uptake since the number of patients with breast cancer, tumors, cardiovascular diseases, etc., has surged recently due to inorganic intake and a sedentary lifestyle. Further, the China Blood Flow Measurement Devices market held the largest market share, and the India Blood Flow Measurement Devices market was the fastest-growing market in the region.
Blood Flow Measurement Devices Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Blood Flow Measurement Devices market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, mergers and acquisitions, contractual agreements, increased investments, and collaboration with other organizations. Competitors in the Blood Flow Measurement Devices industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the Blood Flow Measurement Devices industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, Blood Flow Measurement Devices industry has provided medicine with some of the most significant benefits. The Blood Flow Measurement Devices market major player such Medistim ASA, Cook Medical, Inc., Getinge Group, Deltex Medical Group PLC, Transonic Systems Inc.
Providing medical technology and equipment is the focus of Medistim ASA, a business located in Norway. It creates, produces, and sells medical equipment that measures blood flow, depicts atherosclerosis, and so aids in improving the results of cardiac and vascular operations. With the launch of its MIraQ Vascular, Cardiac, and Ultimate series, Medistim ASA hopes to boost sales in emerging markets like the US and Japan. These devices use transit time flow measurement (TTFM) to track blood flow.
Transonic Systems Inc. makes and sells blood flow measurement systems to quantify blood flow during surgical procedures, hemodialysis, critical care, radiography, bio-process, and bio-medical research. Flow meters, sensors, and probes are among the company's products utilized in cardiac, transplant peripheral vascular, and cerebrovascular procedures. The 400-series research blood flow measurement instrument from Transonic Systems Inc. is now available and used in cardiovascular labs. The T402 and T403 variants in this series each carry four and six single-bay pressure modules, respectively, increasing the device's adaptability and dependability.
Key Companies in the Blood Flow Measurement Devices market includes
Blood Flow Measurement Devices Industry Developments
May 2022 In Singapore, the 30-second contactless vital sign and health tech business NuraLogix debuted its invention.
February 2022 The Lumify handheld point-of-care ultrasonography from Philips has superior hemodynamic evaluation and measurement capabilities for real-time blood flow.
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)