Reports And Data
Market Size – USD 2,706.6 Million in 2020, Market Growth – at a CAGR of 4.3%, Market Trends – Growth of medical device sector
NEW YORK, NY, UNITED STATES, April 14, 2022 /EINPresswire.com/ — The global pressure relief devices market size is expected to reach USD 3,805 Million in 2028 and register a revenue CAGR of 4.3% during the forecast period, according to the latest report by Reports and Data. Steady market revenue growth of pressure relief devices is due to growing awareness of benefits such as faster relief for patients suffering from pressure ulcers, better support to geriatric individuals with bedsores, and comfort to patients who are bedridden for prolonged periods in hospitals and rehabilitation centers.
Pressure ulcers are injuries to skin and underlying tissues, primarily caused by prolonged pressure on skin. The early symptoms of a pressure ulcer are part of skin becoming discolored, a patch of skin that feels warm, spongy or hard, and pain or itchiness in the affected area. As these ulcers can be prevented with proper care and management, many campaigns have been launched over recent years to raise awareness among people. Some of the campaigns initiated by the government of U.K. include, “Stop the Pressure”, “Zero Pressure”, and “Islandwide Pressure Ulcer Prevention Campaign”. Such initiatives taken by various governments across the world to prevent ulcers and market players focusing on producing better quality devices for patients who are suffering from ulcers, especially in developing countries are expected to drive market revenue growth.
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Some Key Factors Contributing to the Global Pharma & Healthcare Market Growth
Unprecedented revenue growth of the global pharma & healthcare industry is attributed to factors such as rising prevalence of chronic and acute diseases worldwide, increasing geriatric population, rising awareness of health & wellness among consumers, and growing demand for more advanced healthcare services. Increasing demand for advanced drugs and therapeutics, growing availability of next-generation diagnostics and treatment options – especially in developing countries like India and China – rise in R&D activities and clinical trials in the pharmaceutical and biotechnology sectors, increasing public and private investments in healthcare research projects, and rising consumer expenditure on healthcare are among the other significant factors contributing to the industry revenue growth.
Some Key Highlights from the Report
By product type, low-tech devices segment accounted for larger revenue share in 2020. Cost-effectiveness, easy operability, and high efficiency in prevention of ulcers drive the revenue growth of low tech devices segment.
Pressure relief devices are generally used as to reduce pressure on skin tissues and reduces risk of ulcers. Technological advancements have led to the advent of innovative pressure relief devices, such as special mattresses, overlays and cushions that aid in alleviating pressure of vulnerable parts of skin, and in turn, fuel market growth.
By category, hardware segment accounted for largest market revenue share in 2020 as manufacturers emphasize on providing better quality mattresses to patients in hospitals and long term care facilities. Services segment is expected to register highest CAGR during the forecast period.
Pressure relief devices market in North America accounted for largest revenue share in 2020 due to rising incidence of chronic diseases, leading to patient being bed-ridden for a longer period for their treatment
Market in Asia-Pacific region is expected to register highest CAGR during the forecast period, due to surging geriatric population in this region, which is more prone to development of pressure sores and rising disposable income.
In March 2021, Direct Healthcare Group acquired Talley Group for strengthening solutions offering to customers. Direct Healthcare Group, a leading European manufacturer of pressure care, specialist seating, patient handling and bathroom safety solutions, strengthened its existing pressure ulcer prevention portfolio, with entry into negative pressure wound therapy and intermittent pneumatic compression therapy markets.
Companies profiled in the global market report include Smith & Nephew PLC, Stryker Corporation, 3M group, Medtronic PLC., Direct Healthcare Group, Invacare Corporation, Baxter PLC, Drive DeVilbiss Healthcare Ltd., Apex Medical Corporation, GE Healthcare, and Acelity L.P. Inc.
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Pressure Relief Devices Market Segmentation:
Product Type Outlook (Revenue, USD Million; 2018–2028)
End-use Outlook (Revenue, USD Million; 2018–2028)
Long-term care centers
Component Outlook (Revenue, USD Million; 2018–2028)
Global Pressure Relief Devices Market Report: Regional Segmentation
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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Global Pressure Relief Devices Market: Table of Contents
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.1. Primary Sources
1.4.2. Secondary Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
Chapter 3. Key Insights
Chapter 4. Global Pharma & Healthcare Market Segmentation
4.1. Global Pharma & Healthcare Market COVID-19 Impact Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Porter’s Five Forces Analysis
4.5. Regulatory Framework
4.6. Price trend Analysis
4.7. Competitive Metric Space Analysis
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