2021-2030 Analysis and Review Blood Flow Measurement Devices Market
Blood Flow Measurement Devices Market By Product, By Application - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021 – 2030
The blood flow measurement device market has been expected to grow at a CAGR of 9.6% during the forecast period 2022-2030. Some of the major factors driving the global blood flow measurement device market are rising geriatric population across the globe, growing prevalence rate of cardiovascular devices. Rising demand for minimally or non-invasive medical practices is also responsible for driving the market. Cardiovascular diseases and diabetes are turning out to be an epidemic in the present scenario and are one of the major cause of death among the population. Blood flow measurement devices play a major role in diagnosis of these life threatening diseases and hence are experiencing huge demand from the end user segments.
Ultra Droppler Blood Flow Meters and APAC Expected to Grow the Fastest
Asia Pacific has been expected to be the fastest growing region for the global blood flow measurement device market, the region has been expected to attain a CAGR of 10.8% during the forecast period, and developing countries like India and China have been expected to boost the demand in the region in the upcoming scenario. North America has been expected to remain the dominating region during the forecasted period, high awareness level and high healthcare expenditure are the major reason for the growth in the region. Ultrasonic Doppler blood flow meters has been expected to grow with the fastest CAGR of 11.7%, this market has been also expected to be the dominating market in the segment.
Diabetes: World’s 3rd largest population is the dominating factor for the growth of the market.
The prevalence rate of diabetes for all age-groups worldwide was assessed to be 2.8% in 2000 and projected to be around 4.4% for year 2030; and, the total number of people with diabetes is projected to rise from 171 million in 2000 to 366 million in year 2030. The urban population suffering from diabetes in developing countries is projected to grow double from year 2000 to year 2030. But, diabetes can be treated and is being treated worldwide, there are treatments available to avoid the consequences or to delay them. Diabetic retinopathy is a general form of diabetic disease, it causes blindness, and occurs as a result of long-term accumulated damage to the small blood vessels in the retina. 2.6% of global blindness can be attributed to diabetes. It is a leading cause of vision-loss, globally. Of an estimated 285 million people with diabetes mellitus, worldwide, approximately one third have signs of DR and of these, a further one third of DR is vision-threatening DR, including Diabetic Macular Edema. The treatment requires measurement of blood flow at various stages, and ultrasonic blood flow is widely used for this owing to its non-invasive advantages. As the diabetic population is increasing with a tremendous rate the need for these blood flow meter devices is expected to grow in coming years, which provides ample of opportunities for the new market players to come, and hence are anticipated to increase the market with a high growth rate amongst other disease which require blood flow measurement.
North America: The Region with highest Prevalence rate of Diabetes
According to American Diabetes Association, in the year 2012 around 29.1 million Americans, or 9.3% of the population had diabetes. And this prevalence rate is rising rapidly owing to the stiff changes in life styles of the people and the aging population. About 1.4 million Americans are diagnosed with diabetes every year, according to the organization. More than 8.1 million Americans with diabetes don't know about it, which is putting them at greater risk of complications. The disease can mature slowly over time. The region is getting rich by its healthcare infrastructure, the demand for monitoring and the diagnosis of the various stages of diabetes is rising. Moreover, the region is filled with various market players involved in the production of blood flow meter devices which are fulfilling the present demand of the diabetic population in the region.
Recent patent approvals driving Innovation in the market
The global blood flow meter market is experiencing huge demand, and to fulfil these demands the producers and manufactures are actively working upon empowering the production-supply chain management. Furthermore, huge investments are coming into these segment to increase the efficiency, as well as features. Thus, the market is filled with a large number of innovative products. There are some innovators working in touchless diagnosis or even in wearable monitoring devices. Innovators are keenly working upon this technology to develop blood flow monitoring devices. These innovations along with its early adoption is additionally supporting the market to grow.
Market Remains Highly Fragmented
The global blood flow measuring devices market is highly fragmented with number of players. Currently the market is dominated by Medtronic Inc. with XXX% market share. Medtronic’s wide range of product portfolio and global presence has helped in acquiring this competitive position in the market. Other companies dominating the market include Cardinal Health Inc., Compumedics Ltd, Biomedix Inc. and so on. All these companies are focusing on product innovations. As the market is rapidly shifting from clinical care to point of care the companies are rapidly focusing on developing cost effective and portable devices. Competitive rivalry is very high in this market due to the availability of huge number of key players. Companies are trying to compete with each other by providing the products with the same characteristics and similar price or by similar features in lower prices, and also by acquiring major companies. As per the current scenario, developed economies are leading the sales of medical devices, whereas the emerging markets has a rapid growth opportunity with the growth rate twice or four times those of developed markets due to changing lifestyles, growing incomes and increasing awareness. Therefore, the intensity of competitive rivalry is very high in the blood flow measurement devices market.
Historical &Forecast Period
This research report presents the analysis of each segment from 2020 to 2030 considering 2021 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2021 to 2030.
Report Methodology
Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from top down, bottom strategies and primary research. The scope of the market is limited to the following segments of product categories and region.
By Product (2020-2030; US$ Mn)
By Application(2020-2030; US$ Mn)
By Region (2020-2030; US$ Mn)
Global Impact of Covid-19 Segment (2020-2021; US$ Mn)
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