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Pressure Relief Devices Market is Expected to Remain Strong as Business Alliances Opens New Growth Opportunities
Get the Future Market Forecast for Pressure Relief Devices at: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1743
Investment in emerging markets to increase market share is also what key companies in this market are looking upon. For example, Covidien plc has substantially invested in the emerging markets of APAC to leverage the opportunities available in this region.
Limited Mobility of Geriatrics Pose a High Risk of Developing Pressure Ulcers
“An increasing number of obese population worldwide is boosting the growth of the global market for pressure relief devices,” points out a TMR analyst. The prevalence of obesity has doubled between 1980 and 2014, according to the World Health Organization. The increasing obese population is displaying an increased demand for pressure relief devices such as mattress overlays and specialty beds to prevent pressure ulcers.
The increasing geriatric population is also fuelling demand for pressure relief devices. This is because elderly people have high chances of developing pressure ulcers due to reduced blood flow, damaged nerves, and limited mobility.
Unfavorable Reimbursement Policies Adversely Affect Uptake of Pressure Relief Devices
High cost of pressure relief devices and unfavorable reimbursement policies for the same are impeding this market’s growth. Changes in reimbursement policies for pressure relief devices in recent years have been detrimental to the market’s growth. This is because treatment of pressure ulcers is an expensive affair, for which reimbursement is essential for the patient. For example, the price range of an air fluidized therapy bed is from US$15,000 to US$25,000. Moreover, adoption of reimbursement restrictions for pressure ulcers on the part of private insurers, especially in developing nations such as China, India, Brazil, and Mexico is restraining the market’s growth.
The global market for pressure relief devices is expected to reach a valuation of US$2.8 bn by 2020. On the basis of device type, low-tech devices led with 86.9% of the overall market in 2013. This segment is expected to display a higher growth rate over its counterpart hi-tech device segment in the coming years. This growth is mainly owing to the advantages of low-tech devices pertaining to prevention of ulcer, easy operability, and cost effectiveness.
Read the Current Market Status of Pressure Relief Devices at: http://www.transparencymarketresearch.com/pressure-relief-devices.html
In 2013, North America stood as the leading market for pressure relief devices. However, Asia Pacific is anticipated to display the fastest growth rate in the coming years due to an increasing geriatric population base in this region.
Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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