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Blood flow measurement devices in healthcare sector hold an important part under diagnostic and research segment. These measurement devices help the physician to understand the nature of the blood flow such as the amount of blood supplied to the various vital organs and abnormal changes in the blood flow velocity, which can cause malformation of vessels.
Statistics:
The global blood flow measurement devices market is estimated to account for US$ 506.0 Mn in terms of value by the end of 2019.
Global Blood Flow Measurement Devices Market: Drivers
Approval and launch of new products is expected to propel growth of the global blood flow measurement devices market over the forecast period. For instance, in August 2019, Abiomed launched Impella CP with SmartAssist technology in Europe. The device is designed to monitor blood flow and improve chances of heart recovery and survival.
Global Blood Flow Measurement Devices Market: Opportunities
Adoption of IoT is expected to offer lucrative growth opportunities for players in the global flow measurement devices market. For instance, in August 2019, a team of researchers from the University of Toronto in Canada announced that they had developed a smartphone app which can measure blood pressure breathing rate, and heart rate, as well as other functions with the help of a transdermal optical imaging software that can instantly provide the user the data.
Global Blood Flow Measurement Devices Market: Restraints
High cost of devices is expected to hinder growth of the global flow measurement devices market.
Moreover, excise tax on medical devices is also expected to limit growth of the global flow measurement devices market.
Key Takeaways:
The global blood flow measurement devices market was valued at US$ 506.0 Mn in 2019 and is forecast to reach a value of US$ 1,999.8 Mn by 2027 at a CAGR of 8.9% between 2020 and 2027. Approval and launch of new products is expected to propel growth of the global blood flow measurement devices market over the forecast period.
Peripheral Vascular Diseases segment held dominant position in the global blood flow measurement devices market in 2019, accounting for 32.7% share in terms of value, followed by Tumor Monitoring and Angiogenesis and Intra-cranial Monitoring in Stroke and Brain Injury, respectively. Increasing prevalence of peripheral vascular diseases is expected to propel growth of the segment during the forecast period.
Market Trends
Major players in the global blood flow measurement devices market are focused on adopting M&A strategies to expand their product portfolio. For instance, in July 2018, Arjo acquired ReNu Medical Inc., a privately owned US company specializing in green reprocessing for single use non-invasive medical devices.
Grants for R&D in blood flow measurement devices is expected to propel growth of the global blood flow measurement devices market. For instance, in November 2018, Compumedics, Deakin University, and Diabetes Australia were awarded a grant from the Acceleration Fund of the Victorian Department of Health and Human Services to help deliver clinical-grade, consumer-accessible blood-glucose and sleep monitoring as part of Compumedics’ unique Somfit Health Management Platform.
Global Blood Flow Measurement Devices Market: Competitive Landscape
Major players operating in the global blood flow measurement devices market include, Arjo, Atys Medical, Compumedics Ltd., Cook Medical Inc., Deltex Medical Ltd., GF Health Products, Inc., Medistim ASA, Moor Instruments Ltd., Perimed AB, Transonic Systems, Inc., Medtronics, Biomedix Inc, AKW Medicals Inc., D E Hokanson Inc., Elcat GmBH, Flowtronics Inc., Ace Medicals, Carolina Medical Plc, and Compumedics Ltd.
Global Blood Flow Measurement Devices Market: Key Developments
Major players operating in the global blood flow measurement devices market are focused on gaining contracts to enhance their market share. For instance, in January 2020, Cook Medical was awarded a new contract with the U.S. Department of Veterans Affairs, which includes products such as the Zilver PTX Drug-Eluting Peripheral Stent, Zenith aortic endografts, and associated interventional devices to treat patients with vascular disease.
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