Pressure Relief Devices Market Size To Reach USD 52.69 Billion By 2026 | Top key Players Stryker Corp., Smith & Nephew, Invacare Corporation

Rise in adoption of pressure relief devices for the prevention of ulcers, application in various lifestyle-related conditions such as diabetes, cardiovascular diseases and obesity, growing target diseases such as obesity and rise in geriatric population are the key factors contributing to high CAGR of Pressure Relief Devices market during forecast period.

According to the current analysis of Reports and Data, the global Pressure Relief Devices Market was valued at USD 40.10 billion in 2018 and is expected to reach USD 52.69 billion by the year 2026, at a CAGR of 3.5%. Pressure ulcers are also known as pressure damage, pressure injuries, pressure sores, bed sores, decubitus ulcers. These are the areas of localized damage to the skin and underlying tissue and are caused by a combination of pressure, shear, and friction. Prolonged immobilization due to critical illness and mechanical ventilation can result in serious complications such as pressure ulcers. Pressure ulcer risk factors vary from person to person. The extended stay in the hospital of bed-ridden patients due to the underlying medical conditions such as cancer, multiple bone fractures, and other severe diseases results in pressure ulcers, which further increases the adoption of pressure relief devices.

Equipment safety is one of the important issues concerning the use of pressure-relieving devices in the healthcare sector. In line with this, The National Institute for Clinical Excellence, U.K. commissioned the National Collaborating Centre for Nursing and Supportive Care to develop guidelines on the use of pressure-relieving devices (specifically beds, mattresses, and overlays) for the prevention of pressure ulcers. The rise in the geriatric population and the prevalence of obesity-related diseases are leading to an increase in the demand for pressure ulcer devices. For Instance, according to the study conducted in North America, the U.S. population aged 65 years and above is expected to rise more than double from 46 million to 98 million by 2060. According to the Population Reference Bureau, the U.S. obesity rate among older adults increased rapidly, approximately 40% of people aged between 65 and 75 years. The rise in geriatric population worldwide is expected to contribute to the rise in the demand for pressure relief devices due to several restricted movement cases and many other medical complications. Moreover, the obese population facing bed-ridden situations is highly dependent on pressure relief devices. The healthcare infrastructure is significantly evolving and improving around the world. With the rapid expansion of healthcare infrastructure, the demand for advanced medical devices, such as pressure relief devices, has also been increased to cater to the demand from pressure ulcer patients. Increasing third party investments and public-private partnerships (PPP) in medical infrastructure are also boosting the growth of the medical industry and subsequently driving the pressure relief devices market. The increasing demand for preventive measures and healthcare infrastructure propels the demand for pressure relief devices. Growing knowledge about the effectiveness of pressure-relieving devices such as mattresses in preventing the development of pressure ulcers and increased use of them in hospitals has highlighted the need for clinical practice recommendations that incorporate an analysis of their potential cost-effectiveness. These are the major factors that will support market growth.

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Market Overview:

The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.

The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.

The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Pressure Relief Devices market in these key regions.

Further key findings from the report suggest

• Pressure Relief Devices is growing at a CAGR of 2 %in Asia Pacific followed by North America and Europe, with 3.3% and 2.9% CAGR, respectively. High Pressure Relief Devices across the globe is the key factor to accelerate the market growth during forecast period across all the regions.

• High tech devices are expected to have the highest market share holding 40.0% of the global market

• Low tech devices is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 4.3%.

• Long term care centers has the highest market share of 40.0% and was valued at USD 16.03 billion and is expected to reach USD 20.82 billion by 2026.

• Hospitals has covered the highest market and have the highest CAGR of 4.4%

• Asia Pacific is expected to account for the 30% of the global Pressure Relief Devices. Developing nations such China, and India are likely to witness high growth

• Suppliers are seeking authorizing concurrences with doctor's facilities that focus on perfection for second suppositions in high cost surgical methodology. The emphasis on populace wellbeing administration is expanding at a sustainable rate. Improved healthcare spending and growing healthcare infrastructure are expected to fuel the market growth for pressure relief devices.

• Key participants include Stryker Corp., Smith & Nephew, Invacare Corporation, Hill-Rom Services Inc., Paramount Bed Holdings Co. Ltd., Medtronic PLC, Talley Group Limited, ArjoHuntleigh, Apex Medical Corp., Drive DeVilbiss Healthcare Ltd (Sidhil Limited), Linnet spol.s.r.o. and PROMA REHA, s. r. o.

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For the purpose of this report, Reports and Data have segmented the Pressure Relief Devices on the basis of product, end use, and region:

Product (Revenue, USD Million; 2016–2026)

• Low-tech devices
o Foam-Based Mattress
o Gel-based Mattress
o Fiber-filled Mattress
o Water/Fluid-filled Mattress
o Air-filled Mattress
• High-tech Devices
o Kinetic Bed
o Dynamic Air Therapy Bed

End Use (Revenue, USD Million; 2016–2026)

• Hospitals
• Clinics
• Long-term Care Centers

Regional Outlook (Revenue in USD Million; 2016–2026)

• North America
o U.S.
o Canada
• Europe
o Germany
o France
o UK
o Spain
o Italy
o Rest of the Europe
• Asia Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
• Middle East & Africa
• Latin America
o Brazil

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