Half a Billion People Suffering from Cardiovascular Diseases Drive Blood Volume Analyser Market
According to World Heart Federation, in 2023 more than half a billion people around the world continue to be affected by cardiovascular diseases. In a major study by The Lancet Neurology, in 2023, more than 5 billion people were living in neurological conditions. Additionally, according to International Society of Nephrology, in 2023, approximately 850 million people were affected by chronic kidney diseases. Behavioural factors for the rise of chronic diseases include unhealthy diet, physical inactivity, use of tobacco and regular consumption of alcohol and environmental factors include air and water pollution. In recent times, humans have accustomed themselves to fast-paced lives where eating junk food, working late at night or going to bed late are the norm which leads to these kinds of health conditions which is favourable for the market. In all of these health conditions, it is advisable by doctors to take blood tests including blood volume tests. As diseases are on the rise, there is a demand for blood volume analyzer.
Integration of technology in everyday life is the current norm and the same has happened to healthcare industry. With the recent advancements in technologies, blood volume analysers are integrated with various features for different tests. Moreover, portable blood volume analyser became the game changer for the industry with its availability and very easy user interface. With the increasing medical expenses, expanding elderly population, increase in obesity levels and more, there will be rise in demand for blood volume analysers.
Integration of technology in everyday life is the current norm and the same has happened to healthcare industry. With the recent advancements in technologies, blood volume analysers are integrated with various features for different tests. Moreover, portable blood volume analyser became the game changer for the industry with its availability and very easy user interface. With the increasing medical expenses, expanding elderly population, increase in obesity levels and more, there will be rise in demand for blood volume analysers.
Advancements in Technology Accelerates the Blood Volume Analyser Market
Blood volume analyser market is anticipated to grow pushed by cutting-edge technologies such as wearables, artificial intelligence, and cloud-based analytics. These developments have the potential to completely change blood volume analysis procedures, resulting in increased accuracy, precision and effectiveness. For instance, in May 2023, European Society of Cardiology Heart Failure announced that Daxor BVA-100, which is blood volume analyser by Daxor, provides unique and individualized data that is critical for targeting heart failure therapy and is predictive of clinical outcomes. Deployment options, such as joint ventures with government bodies, healthcare providers, and research institutes, can augment growth chances by broadening the market reach and elevating acceptance rates. Furthermore, the incorporation of telehealth services and remote monitoring capabilities can make healthcare more convenient and accessible for patients, which will propel market expansion. Blood volume analyser demand is also anticipated to be fueled by trends like preventive healthcare, personalized treatment, and the rise in chronic illness. Concentrating on data-driven insights and precision medicine, the market is poised for significant growth in the coming years. Overall, the blood volume analyser market has immense potential for growth, and leveraging innovative technologies and deployment strategies will be crucial in maximizing its growth prospects.
Recent Trends in the Blood Volume Analyser Industry:
- Integration of IoT in blood volume analysers.
- Growing demand of portable blood volume analysers.
- Collaborations between healthcare products manufacturers and IT professionals.
- Increasing focus on research and development to make innovations.
- Rise in demand of AI based medical devices.
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Lack of Skilled Labour and Knowledge Among People Hampers the Growth of Blood Volume Analysers Market
Manufacturing of blood volume analysers is a complex process which require huge initial investments with less knowledge of return on investment, which hinders the growth of the smaller and newer players in the industry. The blood volume test is relatively costlier than other blood tests, which may affect the willingness of the consumer to opt the facility. Additionally, as this technology is comparatively newer in the market, there is very less knowledge of the technology available to the consumers which affect the public perception of the technology. Moreover, there is a lack of skilled labour and healthcare professionals in the industry. All of these added might hamper the growth of blood volume analyser market.
Industrial Developments, Innovations and Key Players in the Blood Volume Analyser Market
The blood volume analyser market is continuously growing with various developments in the technology and several others innovations that are on the way. For instance, in February 2021, Beckman Coulter, a renowned company in healthcare industry, introduced their product namely DxH 560 AL which is one of its kind portable blood volume analyser that helped small healthcare facilities that experience time and resource restrictions. Similarly, in April 2024, the United States Department of Defence awarded a little more than US$ 1.9 million to a multidisciplinary team of researchers at the University of Arkansas and University of Arkansas Medical Sciences (UAMS) for developing an app that can detect blood pressure waveforms which correlate with blood volume in the blood vessels and work as blood volume analyser. Many companies have come up with some amazing technical solutions to gain upper hand in the market. For instance, in January 2024, Daxor filed with FDA for using its new technology BVA which is made to use at patient’s bedside with easy user interface to be able to use the machine frequently with quick results.
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Increase in Healthcare Facilities and Advancement in Technology in North America Propel the Market
The blood volume analyser market is most profound in the regions of North America due to its healthcare infrastructure, availability of hospitals, skilled healthcare professionals and willingness of people to readily spend on healthcare. Additionally, with market players including Daxor, Beckman Coulter and Abbott Laboratories, the market is expected to further grow exponentially. For instance, in February 2024, Daxor announced its four-year lease agreement for the BVA analyser at an award-winning network of 24 affiliated hospitals in Mississippi, West Tennessee, and East Arkansas with a reach into Kentucky, Missouri, and central Alabama. Europe is also a key market in the blood volume analyser industry with its increasing focus on healthcare systems in region and growing number of hospitals and healthcare facilities with players like Siemens, Roche, Radiometer, Bayer, Werfen and more. Furthermore, Asia-Pacific is emerging as a good market for the blood volume analyzer due to rapid urbanization and government support for healthcare facilities in the region. Japan has most percentage of elderly population which is a reason that Japan might be a good market for blood volume analyser because, old people are more prone to diseases that may arise the need of blood volume analysers. Chinese manufacturing facilities with players like Edan, Wondfo and more contribute to the expansion of blood volume analysers market in Asia-Pacific.
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The report provides a detailed overview of the blood volume analyser market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for blood volume analyser market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the blood volume analyser market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the blood volume analyser market. Some key country and region included in the blood volume analyser market report as follows:
| Regions | Countries |
|---|---|
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Sweden, Austria, Norway, Denmark, Finland, Ireland, Czech Republic, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Egypt, Turkey, Morocco, Israel, Iran, Kenya, Nigeria, Rest of MEA |
Blood Volume Analyser Market Research Report Covers In-depth Analysis on:
- Blood volume analyser market detailed segments and segment-wise market breakdown
- Blood volume analyser market dynamics (recent industry trends, drivers, restraints, growth potential, opportunities in blood volume analyser industry)
- Current, historical and forthcoming 10 years market valuation in terms of blood volume analyser market size (US$ Mn), volume (Units), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Blood volume analyser market demand analysis
- Blood volume analyser market pricing analysis over forecast period (by key segment and by region)
- Blood volume analyser market regional insights with region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in blood volume analyser market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in blood volume analyser market
- Blood volume analyser market sales and distribution strategies
- A comprehensive overview of parent market
- A detailed viewpoint on blood volume analyser market forecast by countries
- Mergers and acquisitions in blood volume analyser market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What are the key trends impacting the blood volume analyzer market?
Key trends include technological advancements, increasing prevalence of chronic diseases, and growing awareness of early diagnosis, all of which contribute to the rising demand for blood volume analyzers.
How do blood volume analyzers contribute to patient care?
These analyzers provide healthcare professionals with vital information about a patient's blood volume, enhancing the accuracy of diagnoses and treatment plans, thereby improving patient outcomes.
How is the blood volume analyzer market segmented?
The market is segmented by product type, application, end-user and region. Each segment provides unique insights into specific consumer needs and market dynamics.
