(I-BusinessNews.Com, July 02, 2020 ) The growth of the overall market can be contributed to the growing prevalence of cardiovascular diseases and diabetes coupled with rising geriatric population, technological advancements, 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 growing focus of industry players in the region, increasing geriatric population, and growing prevalence of non-communicable diseases.
According to research report the blood flow measurement devices market is projected to reach $533.0 Million by 2021 from $343.6 Million in 2016, growing at a CAGR of 9.2%.
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Few of the instances of the strategies followed by the players have been discussed below:
• In February 2017, Medistim ASA established its subsidiary—Medistim Spain S.L. with sales representatives in Madrid and Barcelona. With this expansion, the company aims to support its customers and upgrade its MiraQ installations with combined TTFM and imaging technology.
• In October 2016, SONOTEC introduced its contactless SONOFLOW sensors to reduce contamination by sensitive fluids. They are made of materials like aluminum, stainless steel, and plastic which are easy to use and best suited for severe hygienic settings.
• In April 2016, ADInstruments entered into a partnership with Data Sciences International (DSI) (U.S.) to integrate DSI’s PhysioTelTM implantable telemetry platform with ADI’s acquisition and analysis software—LabChart. ADI will fill in as a selective distributor of DSI instruments. The company aims to provide best quality solutions to their customers with this integration.
The major market players in the blood flow measurement devices market include Medistim ASA (Norway), Transonic Systems, Inc. (U.S.), Cook Medical, Inc. (U.S.), Moor Instruments Ltd. (U.K.), ADInstruments (Australia), SONOTEC Ultraschallsensorik Halle GmbH (Germany), Deltex Medical Group plc (U.K.), Atys Medical (France), Compumedics Ltd. (Australia), Perimed AB (Sweden), and BIOPAC Systems, Inc. (U.S.).
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North America accounted for the largest share of the global market. The large share of this region can be attributed to the rising geriatric population and prevalence of cardiovascular diseases, increased prevalence of hypertension, and increased funding. Similarly, technological advancements and the rising number of organ transplants are likely to boost the market for blood flow measurement devices in North America. In the coming years, the market is expected to witness the highest growth rate in the Asia-Pacific region.
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