Pressure Relief Devices Market Opportunities, Challenges with Top Players Getinge AB, Invacare , Hill-Rom holdings,Talley Group Paramount Bed Holdings

Pressure relief devices are utilized to prevent occurrence of pressure ulcers. Pressure ulcers, also known as pressure sores, decubitus ulcers or bed sore, cause localized damage to skin and underlying tissues due to prolonged pressure on skin, thereby causing pain and irritation. Pressure ulcers develop at various bony sites on the body such as back, hip, shoulder blades, lower back tailbone, heels, ankles, and skin behind the knees. Constant pressure on one part of the body leads to lack of oxygen and other essential supplies (Sodium, Potassium), which results in swelling and eventual death of tissue in the affected part. Most vulnerable people for pressure ulcers are bedridden patients or those with limited mobility in certain parts of body. These patients mostly include the geriatric population who require palliative care and patients suffering from terminal illness, severe traumas (brain injury), or those in coma, that require prolonged hospital stay. Pressure relief devices help these patients by redistributing the pressure from one part to another, thereby promoting the balanced supply of oxygen. This in turn, helps cure and also prevent pressure ulcers.

The global pressure relief devices market was valued at US$ 2.95 billion in 2017 and is expected to witness a CAGR of 4.9% over the forecast period (2018–2026).

Major driver for growth of the pressure relief devices market is rising prevalence of pressure ulcers, especially amongst the geriatric population suffering from terminal illnesses and suffering from limited mobility. According to a review study published in the journal Clinical Nursing Review in 2017, prevalence of pressure ulcer has high variation from 7.8% to 54% across the globe. According to statistics given by National Pressure Ulcer Advisory Panel in 2017, 2.5 million patients develop pressure ulcers each year in the U.S., with an annual prevalence of 2.5% for hospital acquired pressure ulcers. Although, the overall prevalence rate is decreasing annually, the burden caused by pressure ulcers on health care settings is high. Pressure ulcer treatment costs US$ 9-11 billion each year to the overall health cost in the U.S. According to World Population Prospects (WPP) published by United Nations in 2017, 962 million people aged 60 years and above, which accounted for 13 percent of the global population. This number is projected to reach 1.4 billion, growing at annual rate of 3 percent, by 2030, globally.

However, advancements in other treatment options such as negative pressure wound therapy devices, which help in wound healing are expected to inhibit growth of the pressure relief devices market.

Growing demand for palliative care and launch of new products by companies to drive growth of the pressure relief devices market

Request A Sample Copy:
https://www.coherentmarketinsights.com/insight/request-sample/1666

Increased demand for palliative care worldwide is expected to increase growth in hospital admissions, eventually creating demand for pressure relief devices. According to World Health Organization (WHO), 2017, around 40 million people need palliative care worldwide, from which around 78% live in low- and middle-income economies and only 14% of them in need of palliative care actually receive it. Diseases requiring high palliative care include cardiovascular diseases (38.5%), cancer (34%), chronic respiratory diseases (10.3%), AIDS (5.7%), and diabetes (4.6%), kidney failure, and chronic liver disease. Palliative care is associated with limited mobility among patients, in turn increasing hospital admissions, thus increasing vulnerability of patients of developing pressure ulcers. Companies are also launching new products in order to increase market presence, thereby increasing revenue. For instance, Hill Rom Holdings, Inc., in 2017, launched Envella Air Fluidized Therapy Bed to provide high quality wound care for patients with advanced wounds from pressure ulcer.

Smith and Nephew is continuously establishing clinical evidence for its pressure relief products, in 2018, the company presented study of randomized controlled trial (RCT), which demonstrated that addition of ALLEVYN LIFE, a multi-layer silicone adhesive foam dressing, reduces the onset of pressure ulcers by 71% in elderly patients admitted to hospital for hip fracture. Key players operating in the pressure relief devices market include Gentinge Group AB, Invacare Corporation, Hill-Rom Holdings, Inc., Talley Group Limited, Paramount Bed Holdings Co. Ltd., Stryker Corporation, Acelity L.P., and Medtronic plc.

Major factors driving growth of the pressure relief devices market is increasing geriatric population worldwide. Ageing population requires prolonged hospital stay due to terminal disease, fracture surgery, and other palliative care, thereby increasing their risk of developing pressure ulcers and other complications due to limited or no movement of body parts. Regions such as Europe, record the maximum number of people aged 60 years and above, accounting for 25% of the entire population (2017 Population Prospect Report of U.N.). This in turn, generates considerable demand for pressure relief devices.

According to statistics given by National Health Service in 2017, over 700,000 people are affected by pressure ulcer each year in the U.K. In addition to this, government initiatives to reduce prevalence of pressure ulcers are also creating more awareness amongst all stake holders in the healthcare ecosystem. For instance, the U.K. government initiated the ‘Stop Ulcer’ campaign in 2012, which resulted in progressive reduction of pressure ulcers by using preventive methods. Healthcare insurer are averse to provide coverage for hospital acquired conditions such as pressure relief and sepsis. This in turn, is expected to propel growth of the pressure relief devices market.

Get PDF Brochure of This Business Report:
https://www.coherentmarketinsights.com/insight/request-pdf/1666

Contact Us:
Mr.Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email:sales@coherentmarketinsights.com

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

This release was published on openPR.