Blood Viscometer Market size is poised to cross USD 3.31 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of blood viscometer was over USD 1.76 Billion. The growth of the market is due to globally escalating rates of cardiovascular disease and associated problems that have increased demand for precise blood viscosity testing instruments. Globally, cardiovascular diseases (CVDs) account for 17.9 million deaths annually, making them the leading cause of death.
In addition, blood viscometers have more chances as point-of-care testing becomes more common in healthcare settings. Devices that are easy to use, portable, and produce results quickly are probably going to see increased demand. The market potential can be expanded by continuing research and development efforts to upgrade blood viscometer technology, which could result in the creation of sophisticated and reasonably priced products.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~ 5% |
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Base Year Market Size (2023) |
~ USD 1.76 Billion |
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Forecast Year Market Size (2036) |
~ USD 3.31 Billion |
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Regional Scope |
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End User (Hospitals, Clinics)
The hospitals segment is projected to account for 65% share of the global blood viscometer market by the end of 2036. Hospitals can enhance the quality of treatment they provide by using blood viscometers, which give precise and rapid blood type information such as blood group typing. This enables medical providers to decide on patient care more intelligently. Blood viscometers can also be used to track a patient's development over time and assist in the diagnosis of specific illnesses. Hospitals are a vital market for blood viscometer producers because of these factors. Hospitals utilize blood viscometers widely for the diagnosis and monitoring of circulatory problems, including cardiovascular disease. For instance, 56,000 people die each day on average due to heart and circulatory diseases. It is anticipated that the number of deaths worldwide from heart and circulation disorders will increase much further.
Type (Rotational Viscometer, Capillary Viscometer)
The rotational viscometer segment in the blood viscometer market is anticipated to hold the largest revenue share of about 68% during the forecast period. The growth of the market segments is owing to paints, varnishes, and inks which are just a few of the fluid types that can be employed with this kind of viscosity equipment. Rotational viscometers are frequently employed in research labs, but manufacturers of goods that need to meet strict specifications for their flow characteristics, including medicines or cosmetics, may also utilize them for quality control testing.
Our in-depth analysis of the global blood viscometer market includes the following segments:
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Type |
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End User |
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North American Market Forecast
The blood viscometer market in the North America region is expected to hold the largest revenue share of about 30% during the forecast period. Because of the expanding number of illness diagnostic procedures including viscosity and rheology analysis, technical improvements, increased packaged food consumption, and the presence of large companies, North America is predicted to have a considerable market share in the viscometer industry. The food packaging business in North America was valued at about 92 billion dollars in 2020. By 2028, the market is expected to be worth roughly 135.5 billion US dollars. The examined market is expanding as a result of the new product introductions in the area. For instance, RheoSense, Inc. introduced VROC Initium One Plus, the autonomous viscometer with the greatest level of accuracy, in August 2020.
European Market Statistics
Blood viscometer market in Europe is anticipated to hold second second-largest revenue share of about 25% during the forecast period. Europe prioritizes research and development to a similar extent-technological progress, such as the creation of lightweight, user-friendly gadgets. In the context of medicine and research, these new viscometers are highly valued since they provide measurements that are more precise and effective. All things considered, the market is moving toward more sophisticated and practical solutions.
Author Credits: Radhika Gupta, Shivam Bhutani
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