North America Blood Flow Measurement Devices Market Forecast 2021-2028
The North America blood flow measurement devices market is evaluated to register a CAGR of 8.31% during the forecast period, 2021-2028. Countries like Canada have huge growth opportunities for foreign manufacturers, given the increased medical device imports. Also, the region is a technological hub for companies that offer advanced solutions to the healthcare market.
Canada and the United States are analyzed for the North America blood flow measurement devices market growth assessment. Canada is one of the largest economies globally, and the eighth largest medical device market. As per the International Trade Administration, in 2020, the medical device market was valued at around USD8.6 million. Also, the healthcare industry is witnessing surging demands due to the advancing aging population and chronic diseases. In addition, the growing prices of existing products and the substitution of new and more expensive products contribute to the healthcare industry’s growth.
Furthermore, Type 2 diabetes is on the rise in the country. As per Diabetes Canada, this is caused by several risk factors, affecting 90% of diabetes cases in Canada. Moreover, almost three million diabetic population were at risk of life-threatening complications in 2019, as per the International Diabetes Federation IDF Diabetes Atlas 9th Edition. Additionally, another 3 million aged between 50 and 79, have peripheral arterial disease (PAD. As a result, the prevalence of such chronic diseases influences the demand for blood flow measuring devices.
Transonic Systems Inc, Medtronic Plc, Siemens Healthineers, GE Healthcare, etc., are among the key firms in the market.
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