Blood is the most essential connective tissue in the human body. Typically, blood is a medium which helps in transporting important components of the body metabolism to various organs. Blood flow measurement devices are generally used for diagnosing various kinds of clinical vascular conditions like peripheral vascular diseases, micro and macro vascular complications etc. These devices are also helpful in wide range of applications such as skin testing, burn assessment and others. The global blood flow measurement devices market is forecasted to grow and reach around $655.57 million growing at a CAGR of 9.45% during the forecast period. The report focuses on the application of the blood flow measurement devices market in various industries and the factors leading to growth and development of the industry. Rising support of key players helps in boosting the global blood flow measurement devices market.
Rising demand of blood flow measurement devices in healthcare sector would be the key factor which drives the growth of global blood flow measurement devices market. The major reason behind the growth of this market is wide usage of blood flow measurement devices in clinical applications varying from diabetes, gastroenterology to peripheral vascular disease etc. The blood flow measurement devices market is forecasted to grow at higher rate in future due to rapid growth and rising concerns of people regarding health across the world. Another major factor which drives this global blood flow measurement devices market is the rising demand for minimal invasive surgeries across the world that helps in boosting this market. Wide usage of blood flow measurement devices in various applications is another factor which helps in fuelling this global blood flow measurement devices market. The other major factor which helps in boosting this market is the key players investing huge amounts in research and development for developing and maintaining technological advancements in blood flow measurement devices across the world. The major reason behind it is the growing number of patients suffering from chronic diseases like cardiovascular disease, diabetes etc. that drives the global blood flow measurement devices market. In region, Asia Pacific is forecasted to be the fastest growing region in next 6 to 7 years due to rising healthcare infrastructure market across the globe. Although there are many factors which drive this market, but still there are various restraints which are faced by the market such as high cost price of devices and stringent rules and regulations for market players and many more which hamper the growth of the market. There are also some challenges which are faced by global blood flow measurement devices market such as the lack of technical expertise and skilled professionls etc.
The global blood flow measurement devices market is segmented on the basis of products, applications and by geography. Among all products, the market is segmented into ultrasonic doppler blood flow meters, laser doppler blood flow meters, electromagnetic blood flow meters etc. Among all products, ultrasonic doppler’s blood flow meter dominates the blood flow measurement device market and is expected to grow significantly in the forecast period. The major reason behind the success of this segment is the increasing innovations in technology and rising number of clinical applications across the world. On the basis of applications, the market is segmented into gastroenterology, diabetes, dermatology, peripheral vascular diseases, intracranial monitoring in stroke and brain injury, tumor monitoring and angiogenesis etc. Among all applications, rising prevalence of peripheral vascular disorders dominates the market and it is also helpful in boosting the global blood flow measurement device market.
On the basis of geography, Europe, Asia Pacific, North America, and ROW are the major segments of the global blood flow measurement devices market. North America is the leading market in blood flow measurement devices due to promising growth of healthcare industry in the region. North America region holds the largest market share in blood flow measurement devices market due to increase in circulatory disorders and increasing awareness regarding health among people etc. However, Asia would be the fastest growing market in global blood flow measurement devices market. The major reason behind the success of this region is the raising diabetic and geriatric population along with high prevalence rate of peripheral arterial diseases in developing countries like China, India etc. However, stringent regulatory approvals act as hindrance in the growth of the global market in the Asian region.
Some of the major players of the market include Arjohuntleigh, Inc., Atys Medical, Biomedix Inc, Cardinal Health Inc., Compumedics Ltd, Cook Medical Inc., Deltex Medical, Elcat GMBH, GF Health Products, Inc., and Medistim ASA, Medtronics, Moor Instruments Ltd. and so on. Mergers, product launches, innovation and expansion are some of the key strategies adopted by the market players. On 26 January 2015, the Medtronic had acquired the Covidien, under the terms of acquisition agreement both the companies are merged in the Medtronic PLC. The major reason behind it was to maintain its position in the market and to restore health and extend life for patients across the globe. These mergers, product launches and acquisition helps in boosting the growth of global blood flow measurement devices market.