Blood Flow Measurement Devices Market Expected to Reach USD 0.50 Billion Globally in 2019: Transparency Market Research
According to a new market report published by Transparency Market Research "Blood Flow Measurement Devices (Ultrasonic Doppler, Laser Doppler and Electromagnetic Blood Flowmeters) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" the global blood flow measurement devices market was valued at USD 0.27 billion in 2012 and expected to grow at a CAGR of 8.7% from 2013 to 2019, to reach an estimated value of USD 0.50 Billion in 2019.
Blood flow measurement devices are primarily used for measurement of volume rate of blood flow for diagnosis of disorders and diseases. The volume rate of blood flow is defined as the amount of blood passing through a cross section of a blood vessel per unit time. Rise in incidence rate of individuals suffering peripheral vascular diseases and growing geriatric population are some of the factors fuelling the growth of this market. According to the statistical data provided by the Centers for Disease Control and Prevention (CDC) in the year 2012, approximately 8,000,000 people in the United States were diagnosed with peripheral arterial disease; that includes 12-20% of population older than 60 years of age. Similarly, increasing clinical applications of blood flow devices is another factor which is likely to trigger the market growth.
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Blood flow measurement devices have a wide range of clinical applications varying from diabetes, dermatology, tumor monitoring, intra cranial monitoring, gastroenterology to peripheral vascular diseases. Among all of the above mentioned clinical applications, peripheral vascular diseases accounted for the largest market share (approximately 27.8%) in 2012. Moreover, the disease is expected to show the highest growth rate reporting a CAGR of 11.3% during the forecast period 2013-2019. The growth in this segment is attributed to rise in the number of obese population coupled with the increasing risk of cardiovascular and circulatory diseases. Intra-cranial monitoring and tumor monitoring are also expected to witness significant growth during the forecast period.
Ultrasonic Doppler blood flow meters accounted for the largest share of the market in 2012 and are poised to grow at a CAGR of 10.7% from 2013-2019. This growth rate is anticipated owing to innovations in technology and rise in the number of clinical applications. Moreover, recent developments in Ultrasonic Doppler blood flow meters such as digital Doppler, multi-range Doppler technology and bilateral Doppler technology has paved a new path for the growth of this market. In addition, factors such as development of minimally invasive and non-invasive devices as well as rigorous R&D initiatives are expected to drive the global blood flow measurement devices market. Laser Doppler blood flow meter devices market is expected to decline due to high cost and a gradual decline in the number of clinical applications as compared to ultrasonic Doppler blood flow meters.
In terms of geography, North America is the leading geography for blood flow measurement devices market owing to rise in circulatory disorders and escalated health awareness. Emerging economies such as Latin America and Asia are expected to display significant growth prospects for the blood flow measurement devices market. Countries such as China, Russia, Brazil and India are expected to foresee a high growth for blood flow measurement devices owing to a large base of diabetic and geriatric population coupled with high prevalence of peripheral arterial diseases in these countries. However, stringent regulatory approvals coupled with high shipment costs of these devices could hinder market growth.
Some of the major companies involved in the production and commercialization of blood flow measurement devices are ArjoHuntleigh Inc., Deltex Medical, Transonic Systems Inc., Moor Instruments Ltd. and Cook Medical Inc., amongst others.
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The global blood flow measurement devices market is segmented as follows:
Blood Flow Measurement Devices Market, by Product types
- Ultrasonic Doppler Blood Flowmeters
- Laser Doppler Blood Flowmeters
- Electromagnetic Blood Flowmeters
Blood Flow Measurement Devices Market, by Applications
- Diabetes Research
- Peripheral Vascular Diseases
- Intra-cranial Monitoring in Stroke and Brain Injury
Blood Flow Measurement Devices Market, by Geography
- North America
- Rest of the World (RoW)
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