Global Blood Flow Measurement Devices Market to Witness Growth Due to Rising Incidence of Cardiovascular Diseases and Technological Advancements
The Global Blood Flow Measurement Devices Market is estimated to be valued at USD 810.5 Mn in 2024 and exhibit a CAGR of 9.1% over the forecast period 2023-2031. The growing prevalence of cardiovascular diseases across the globe is a key factor augmenting market growth. Furthermore, technological advancements in blood flow measurement devices to offer non-invasive and accurate diagnostics are further fueling the market expansion.
Market Dynamics:
The growth of the global blood flow measurement devices market is primarily driven by the rising incidence of cardiovascular diseases and increasing geriatric population. According to the World Health Organization (WHO), cardiovascular diseases are the leading cause of death globally, causing over 17.9 million deaths annually. The rising risk factors such as high blood pressure, obesity, and diabetes among the population are contributing to the increasing burden of cardiovascular diseases. In addition, advancements in technology are leading to the development of non-invasive and accurate blood flow measurement devices which has increased their adoption among healthcare professionals. This has boosted the demand for blood flow measurement devices over the last few years.
Increasing Prevalence of Cardiovascular Diseases
Cardiovascular diseases such as coronary artery disease, cerebrovascular disease, and peripheral artery disease are among the leading causes of mortality worldwide. The increasing prevalence of risk factors such as obesity, hypertension, and diabetes is contributing to the rising incidence of cardiovascular diseases. As blood flow measurement devices play a key role in the diagnosis and management of these conditions, the growing disease burden is expected to drive greater demand for such devices over the forecast period.
Technological Advancements in Blood Flow Measurement
Manufacturers are continuously focusing on developing innovative and advanced blood flow measurement technologies with improved accuracy and ease-of-use. Some of the emerging technologies in this field include thermal diffusive flow measurement, laser doppler flowmetry, and ultrasound Doppler imaging. The integration of these novel technologies into portable, non-invasive and precision devices is expanding the potential clinical applications of blood flow monitoring. The availability of technologically advanced products is likely to attract more physicians and patients, thereby propelling market revenue growth.
High Cost of Advanced Blood Flow Measurement Devices
While basic blood flow measurement devices are available at affordable prices, technologically advanced models incorporate sophisticated features that come with a higher price tag. The high acquisition and maintenance costs of premium ultrasound Doppler devices, CT perfusion systems, and MRI scanners can limit their adoption across healthcare settings with restricted budgets. This hinders the widespread use of advanced blood flow assessment technologies, especially in cost-sensitive developing markets.
Dearth of Skilled Professionals
Effective use of advanced blood flow monitoring devices requires trained physicians, sonographers and technicians with expertise in non-invasive vascular assessment techniques. However, the market currently faces shortages of qualified professionals proficient in specialized modalities such as Doppler ultrasound imaging for vascular diagnostics. This restrains hospitals and diagnostic labs from investing in high-end flow measurement equipment owing to the lack of competent personnel for operation. Improving the availability of specialized training programs can help address such challenges.
Growing Geriatric Population
The rising global life expectancy has led to a significant increase in the number of elderly individuals worldwide. As the risk of developing cardiovascular diseases escalates with age, blood flow testing is frequently required for assessing vascular health issues in the geriatric demographic. This growing senior population presents lucrative opportunities for market players to expand their target base and gain a larger share of the aging population.
Link: https://www.coherentmarketinsights.com/market-insight/blood-flow-measurement-devices-market-183
Point-of-Care Diagnostics
There is tremendous opportunity for portable, handheld blood flow measurement devices that can support point-of-care (POC) testing outside critical care settings. The demand is driven by the need for affordable, easy-to-use products to conduct bedside and ambulatory monitoring of vascular access during dialysis, perform microcirculatory assessment, or help in emergency triage. Compact POC devices offering convenience and time savings are forecast to witness heightened adoption across clinical as well as non-clinical end-user groups.
- In June 2023, STAT Health, a U.S.-based digital health company, has launched a 24/7 in-ear wearable that continuously monitors blood flow to the head. This compact device aims to help diagnose and manage symptoms like dizziness, brain fog, and fatigue, which are often linked to conditions such as long Covid, postural orthostatic tachycardia syndrome, and chronic fatigue syndrome.
- In May 2022, NuraLogix, a HealthTech AI company, introduced its 30-second contactless technology for measuring blood pressure and vital signs in Singapore.
- In February 2022, Philips enhanced its Lumify handheld point-of-care ultrasound with new advanced hemodynamic assessment and measurement features, allowing for real-time blood flow evaluation.
- In January 2021, NuraLogix introduced their app, Anura, which enables contactless blood pressure measurement without the need for cuffs or other wearables. Anura provides measurements of various physical, physiological, and psychological metrics, such as heart rate, stress levels, BMI, and cardiovascular disease risks, all with medical-grade accuracy.
