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Patient Preference for Noninvasive Medical Treatment Benefits Blood Flow Measurement Devices Market

Patient Preference for Noninvasive Medical Treatment Benefits Blood Flow Measurement Devices Market
Blood Flow Measurement Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 2017-01-11 15:42:50
Blood flow measurement devices are meant to measure the volume of blood in blood vessels. The vascular data obtained using blood flow measurement devices helps physicians maintain an equilibrium between the demand and supply of oxygen in the body tissues of patients. Thus, with the help of global blood flow measurement devices market, a large number of clinical vascular conditions such as peripheral vascular (which include diabetic macro and micro vascular diseases) and arterial occlusion are diagnosed. According to statistics from the Center for Disease Control and Prevention (CDC), in 2012, about 8,000,000 people in the U.S. were diagnosed with peripheral arterial disease (PAD). Of these, 12%-20% of the patients were above 60 years of age.

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These devices also find application in skin testing, burn assessment, cerebral blood flow measurement, and others. Due to the wide-ranging usage of these devices for medical treatments, the global blood flow measurement devices market is expected to expand at a CAGR of 8.70% from 2013 to 2019. If the figure holds true, the market, which had a valuation of US$0.2 bn in 2012, will reach a valuation of US$0.5 bn in 2019.

The increasing geriatric population base across the globe is cited as one of the major reasons driving demand for blood flow measurement devices. In addition, increasing incidence of peripheral vascular diseases, combined with increasing demand for technologically advanced noninvasive devices is driving large-scale demand for blood flow measurement devices. 

However, in the U.S., factors such as strict regulatory compliance for product manufacturers, high device prices, and the Patient Protection and Affordable Healthcare Act, which came into effect in 2010, is negatively impacting the global blood flow measurement devices market. Nonetheless, increasing clinical applications of blood flow measurement devices will help the global market for blood flow measurement devices in the foreseeable future.

The global blood flow measurement devices market is divided on the basis of products, applications, and geography.By product, the market is segmented into ultrasonic Doppler, electromagnetic, and laser Doppler devices. Amongst all products, ultrasonic Doppler held the largest market share of about 52% in the global market for blood flow measurement devices. The use of the devices for large-scale clinical applications, their minimally invasive nature, and less risky outcomes are responsible for the large market share of the product segment. Thus, due to the distinguishing characteristics of ultrasonic Doppler blood flowmeters, the product segment will be one of the leading ones in the overall market, displaying a 10.70% CAGR from 2013 to 2019. 

By clinical applications, the global market for blood flow measurement devices is segmented into peripheral vascular diseases, intracranial monitoring for brain injury and stroke, tumor monitoring, diabetes, gastroenterology, and dermatology.

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Of all, in 2012, peripheral vascular diseases held the largest market share, about 28%, of the global blood flow measurement devices market. Increasing incidence of vascular diseases will account for the application segment exhibiting a CAGR of 11.30% from 2013 to 2019, which will be the highest CAGR amongst all application segments.By region, the North America market for blood flow measurement devices dominates the global industry with a 41.8% share in the overall market in 2012. High healthcare awareness is the major factor responsible for the dominance of this region.

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Rohit Bhisey

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