Innovative turbulence will occur in the pressure ulcer device market
The global pressure ulcer device market is expected to grow at a good rate over the next few years. Virtual consultations are one of the current trends. They reduce the spread of contagious diseases, thus facilitating better efficiency. The gap in the supply-demand ratio could also be closed in this way. With this practice followed, developing economies would benefit better, as the cost of travel could be reduced.
According to the most recent study by Persistence Market Research, the global pressure ulcer devices market overcome 1.7 billion US dollars in 2020, and should present a CAGR of about 6.2% during the forecast period (2021-2031).
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Pressure sores or injuries can affect a patient’s functional recovery by causing pain and infection, and can also lead to longer hospital stays. The presence of pressure sores is due to a poor overall prognosis and sometimes leads to premature mortality in some patients.
The increase in the geriatric population leads to complex diseases, resulting in longer stays in hospitals, which increases the risk of pressure sores. The increasing incidence of chronic disorders across the world has led to more people being hospitalized for longer periods. According to the International Diabetes Federation, approximately 422 million people worldwide were living with diabetes in 2016, and it is estimated that more than 10% of the global adult population (642 million) will have diabetes by 2040.
Expansions and mergers and acquisitions are the key strategy that market players are responding to to strengthen their position in this industry.
- In December 2020, ArjoHuntleigh announced the acquisition of AirPal. The acquisition strengthens Arjo’s Patient Handling portfolio.
- Tamarack Habilitation Technologies, Inc.
- GF Health Products, Inc
- Promo Reha
- Koninklijke Philips NV
- Savaria Corporation (Span-America Medical Systems, Inc.)
- Sky medical technology
- Young won medical
- Implus Footcare LLC (Spenco Medical Corp)
- Stryker Corp
- leonhard lang gmbh
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Key points of the market research
- By product, pressure ulcer mattresses are expected to hold over 42% market share in value by the end of 2031 mainly due to the presence of key production market players across the globe.
- Long-term care homes dominated the end-user segment with a share of around 25.6% in 2021.
- By region, North America is expected to be the largest market and expected to account for a value share of over 30% by 2031.
“Prolonged treatment of some diseases leads to prolonged hospitalization of patients, leading to an increase in the incidence of pressure ulcers, which is expected to drive market progress.” says a Persistence Market Research analyst.
Competition in the market
Acquisitions, extensions, collaborations, approvals and product launches are key strategies adopted by manufacturers and distributors to improve their sales prospects.
- In January 2021, Koninklijke Philips announced the acquisition of Capsule Technologies, Inc. to extend its leadership in the management of patient care.
- In June 2021, Koninklijke Philips partnered with the UAE’s leading telecommunications company to help the country accelerate its data-driven healthcare transformation.
- In June 2017, Savaria Corporation completed the acquisition of Span-America Medical Systems, Inc., which benefits Savaria by increasing its presence in the United States.
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What does the report cover?
Persistence Market Research provides a unique perspective and actionable insights into the Pressure Ulcer Device market in its latest study, presenting a historical assessment of demand from 2016 to 2020 and projections for 2021 to 2031.
The research study is based on the product (pressure ulcer mattresses, in-shoe sensors, surface electrodes, smart pants and alternating pressure wheelchair cushions), the distribution channel (hospital pharmacies, retail pharmacies, pharmacies, rehabilitation centers, health centers, hypermarkets and supermarkets, and e-Commerce), in seven major regions of the world.
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