Blood Flow Measurement Devices Market Expected to Reach USD 0.50 Billion Globally in 2019: Transparency Market Research
Albany, NY, March 15, 2014 --(PR.com
)-- Transparency Market Research has Published a new Market Report “Blood Flow Measurement Devices (Ultrasonic Doppler, Laser Doppler and Electromagnetic Blood Flowmeters) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" the global blood flow measurement devices market was valued at USD 0.27 billion in 2012 and expected to grow at a CAGR of 8.7% from 2013 to 2019, to reach an estimated value of USD 0.50 Billion in 2019.
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Blood flow measurement devices are primarily used for measurement of volume rate of blood flow for diagnosis of disorders and diseases. The volume rate of blood flow is defined as the amount of blood passing through a cross section of a blood vessel per unit time. Rise in incidence rate of individuals suffering peripheral vascular diseases and growing geriatric population are some of the factors fuelling the growth of this market. According to the statistical data provided by the Centers for Disease Control and Prevention (CDC) in the year 2012, approximately 8,000,000 people in the United States were diagnosed with peripheral arterial disease; that includes 12-20% of population older than 60 years of age. Similarly, increasing clinical applications of blood flow devices is another factor which is likely to trigger the market growth.
Blood flow measurement devices market is segmented into products and areas of application. Further, the product segment of blood flow measurement devices market has been segmented into ultrasonic Doppler, laser Doppler and electromagnetic. It has been observed that Ultrasonic Doppler blood flow meters accounted for the largest market share (approximately 52%) of the overall blood flow measurement products market in 2012. The dominance of this device was witnessed due to its large number of clinical applications, better outcomes and minimally invasive nature. In addition, the future growth of this market will be dependent on the innovation and technological development focused on enhancing the efficacy and safety of the blood flow measurement devices. However, factors such as high cost involved in the R&D activities and stringent regulatory policies could hinder the growth of the global blood flow measurement devices market.
Blood flow measurement devices have a wide range of clinical applications varying from diabetes, dermatology, tumor monitoring, intra cranial monitoring, gastroenterology to peripheral vascular diseases. Among all of the above mentioned clinical applications, peripheral vascular diseases accounted for the largest market share (approximately 27.8%) in 2012. Moreover, the disease is expected to show the highest growth rate reporting a CAGR of 11.3% during the forecast period 2013-2019. The growth in this segment is attributed to rise in the number of obese population coupled with the increasing risk of cardiovascular and circulatory diseases. Intra-cranial monitoring and tumor monitoring are also expected to witness significant growth during the forecast period.
Ultrasonic Doppler blood flow meters accounted for the largest share of the market in 2012 and are poised to grow at a CAGR of 10.7% from 2013-2019. This growth rate is anticipated owing to innovations in technology and rise in the number of clinical applications. Moreover, recent developments in Ultrasonic Doppler blood flow meters such as digital Doppler, multi-range Doppler technology and bilateral Doppler technology has paved a new path for the growth of this market. In addition, factors such as development of minimally invasive and non-invasive devices as well as rigorous R&D initiatives are expected to drive the global blood flow measurement devices market.
Based on its clinical applications, the global blood flow measurement devices market is segmented into diabetes, peripheral vascular diseases, gastroenterology, intra cranial monitoring in stroke and brain injury, dermatology; and tumor monitoring. Among all the above mentioned treatment applications, the market for blood flow measurement devices for peripheral vascular diseases accounted for the largest market share (approximately 28%) of the overall blood flow devices application market in 2012.