According to the Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019 report, the key Blood Flow Measurement Devices such as (Ultrasonic Doppler, Laser Doppler and Electromagnetic Blood Flowmeters) were earlier valued at USD 0.27 billion in 2012. However, the current estimated figures have reached a value of USD 506.1 Million for 2019 and expected to grow at a CAGR of 8.7% in the next five years, from 2013 to 2019.
A peripheral vascular disease accounts as the major application of blood flow measurement devices in this industry. The notable causes for the development of peripheral arterial disease are hyperlipidemia, atherosclerosis, hypertension and cigarette smoking. Therefore, earlier in 2012, a peripheral vascular disease was stated as the most wide-spread disease capturing the largest market share (nearly 27.8%) of all blood flow measurement device market in the medical industry. The disease is further expected to reach its highest growth figure of a CAGR of 11.3% during the market forecast period 2013-2019.
In medical parlance, blood flow measurement devices are chief equipment used for measurement of volume rate of blood flow in the body for diagnosis of various diseases or disorders. The volume rate of blood flow is basically defined as the total amount of blood passing through a cross section of a blood vessel in per unit time. These devices stand useful to a wide range of clinical applications and medical conditions ranging from dermatology, diabetes, intra-cranial monitoring, tumor monitoring, gastroenterology, to peripheral vascular diseases.
There are many important factors that are accountable for the growing demand of blood flow measurement devices in the market. The blood flow measurement devices segment is rapidly growing in terms of popularity because of the rise in the number of obese population that exhibits increasing risk of circulatory and cardiovascular diseases. The rise in rate of individuals suffering from growing geriatric population and peripheral vascular diseases has fuelled the growth of these devices too. Similarly, increasing clinical applications of blood flow devices is another added factor that is expected to trigger the market growth. Nevertheless, the tumor monitoring and intra-cranial monitoring are expected to rise significantly during the defined forecast period.
According to the statistical data collected in the report study of Centers for Disease Control and Prevention (CDC), approximately 8,000,000 people in the United States were medically diagnosed with peripheral arterial disease in 2012. The figure includes 12-20% of people older than 60 years of age.
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The blood flow measurement devices market is sectioned into products and areas of clinical application. Considering the product segment of blood flow measurement devices market, the main focus is into developing Ultrasonic Doppler, Laser Doppler and Electromagnetic products for better results and minimally invasive treatments. In 2012, Ultrasonic Doppler blood flow meters had captured the largest market share (nearly 52%) of the total blood flow measurement equipment and are poised to rise at a CAGR of 10.7% from 2013-2019. The precise reason for such dominance, as well as popularity of these devices was/is due to the increasing demand in clinical applications.
Today, with continual technological advancements and medical developments, some of the recent developments in Ultrasonic Doppler blood flow meters are observed in the form of bilateral Doppler technology, digital Doppler, and multi-range Doppler technology. The innovation of such improvements has now paved a new path for the growth of this segment in the global market.
Furthermore, in the future there is a possibility for this industry to experience certain inevitable factors such as the stringent regulatory policies and high cost involvements in the R&D activities; however, they are not insurmountable. The future growth of the blood flow measurement devices market would be mainly dependent on the technological development and innovations on improving and contributing better safety and efficacy for hassle-free clinical applications.
Geographically, the blood flow measurement devices spreads across major countries including North America, Asia, Europe, and ROW (Rest of World). This is due to the high healthcare awareness across these regions. The geographical share of figures (%) for 2012 is listed as follows North America (41.80%), Asia-Pacific (23.50%), Europe (27.75%), and RoW (6.95%).
Transparency Market Research
Transparency Market Research