(PharmaNewsWire.Com, April 27, 2021 ) According to research report the blood flow devices market is projected to reach $533.0 Million by 2021 from $343.6 Million in 2016, growing at a CAGR of 9.2%.
The global blood flow measurement devices market is segmented on the basis of product, application, and region.
The growth of the overall market can be contributed to the growing prevalence of cardiovascular diseases and diabetes coupled with technological advancements, rising geriatric population, and the influx of VC funding. In the coming years, the market is expected to witness the highest growth rate in the Asia-Pacific region. The high growth in the region can be attributed to the increasing geriatric population, growing focus of industry players in the region and growing prevalence of non-communicable diseases.
Based on product, the blood flow devices market is categorized into ultrasound and laser Doppler. In 2016, the ultrasound segment commanded the largest share of the global blood flow measurement device market. This growth can be attributed to the growing applications of ultrasound products, such as vascular diseases and dermatology, and their usability in invasive as well as non-invasive applications. The ultrasound market is further categorized into ultrasound Doppler and transit-time flow meters (TTFM).
Based on application, the blood flow measurement devices market is segmented into non-invasive applications and invasive applications. Non-invasive applications are further categorized into cardiovascular disease, diabetes, tumor monitoring, gastroenterology, and others applications (dermatology and intracranial pressure monitoring). The cardiovascular disease segment commanded the largest share of the global blood flow measurement device market, by non-invasive applications, in 2016. The large share and high growth rate of this segment can be attributed to the increasing prevalence of cardiovascular disease, rising geriatric population, and increasing focus of key market players on this market. Similarly, invasive applications are further segmented into coronary arterial bypass graft (CABG), microvascular surgery, and others (organ transplants and reconstructive surgery). The CABG segment commanded the largest share of the global blood flow measurement devices market in 2016. The growth in this segment can be attributed to a large number of CABG surgeries performed worldwide.
The key players in the blood flow devices market include Cook Medical, Inc. (U.S.), Medistim ASA (Norway), Deltex Medical Group plc (U.K.), BIOPAC Systems, Inc. (U.S.), Transonic Systems, Inc. (U.S.), ADInstruments (Australia), Moor Instruments Ltd. (U.K.), Atys Medical (France), Compumedics Ltd. (Australia), Perimed AB (Sweden), and SONOTEC Ultraschallsensorik Halle GmbH (Germany).
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