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Blood flow measurement devices help measure blood flow through arteries and veins. Various types of blood flow measurement devices available in the market include ultrasonic doppler, laser doppler, electromagnetic blood flow meters. Ultrasonic doppler devices are most widely used due to ease of use and accuracy. These devices employ ultrasound technology and doppler effect to measure blood velocity from which volumetric flow rate can be calculated. They are used to diagnose peripheral arterial disease, deep vein thrombosis and evaluate organ perfusion. Growing prevalence of cardiovascular diseases and growing initiatives by government for research in non-invasive diagnostic tools are major factors driving growth of blood flow measurement devices market.
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 devices market is growing adoption of non-invasive diagnostic techniques. Earlier devices used invasive methods such as arteriography which required catheterization. However, advancements in ultrasound technology have enabled development of reliable non-invasive ultrasound doppler devices. These devices provide accurate blood flow measurement without any surgical intervention helping drive their adoption. Growing focus on development of portable ultrasound doppler devices is another trend witnessed in the market. Portable devices enable point-of-care diagnosis and evaluation of blood flow helping physicians make timely treatment decisions. Their ability to provide accurate diagnosis outside hospitals is increasing their importance.
Porter’s Analysis
Threat of new entrants: Low cost of production and distribution has reduced barriers to entry in the blood flow measurement devices market. However, strong supplier and buyer power, as well as intense competition among existing players deter potential new entrants.
Bargaining power of buyers: Large healthcare systems and group purchasing organizations have significant bargaining power over blood flow measurement device manufacturers due to the consolidated nature of healthcare purchasing.
Bargaining power of suppliers: A few major component suppliers dominate the provision of key inputs like sensors, thus exercising some control over prices charged to blood flow measurement device manufacturers.
Threat of new substitutes: No close substitutes are available for blood flow measurement devices, limiting the threat from alternatives. Technology advancements in non-invasive imaging could threaten some segments.
Competitive rivalry: The blood flow measurement devices market is highly competitive due to its maturity and presence of numerous global and regional players. Intense rivalry exists on attributes like pricing, innovation, and service.
Key Takeaways
The global blood flow measurement devices market is expected to witness high growth, exhibiting CAGR of 8.8% over the forecast period, due to increasing geriatric population suffering from cardiovascular diseases.
Market size for 2023 is estimated to be US$ 639.5 million. The North America region currently dominates the blood flow measurement devices market owing to higher healthcare spending and growing incidence of blood flow issues. However, Asia Pacific is expected to witness the fastest growth over the forecast period with increasing healthcare infrastructure and patient awareness in countries like China and India.
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 players are focusing on new product launches and partnerships to strengthen their market presence.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
