Postpartum Hemorrhage Treatment Devices Market: Pregnancy Complications on the Rise
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As stated by TMR, the intensity of competition in the in the global PPH treatment devices market is unlikely to reduce over the coming years, a factor solidified by the introduction of entities such as Bactiguard AB, 3rd Stone Design, Inc., and Cook Medical, Inc. The global postpartum hemorrhage treatment devices market was evaluated at US$604.4 mn in 2014. The market is expected to reach US$926.1 mn by the end of 2023, after exhibiting a CAGR of 4.90% from 2015 to 2023.
Regionally, North America dominated the market in 2014, accounting for over 36.1% of its value, owing to a greater degree of access to advanced healthcare products and services. Emerging economies, on the other hand, are showing a much stronger growth rate in PPH treatment devices demand due to swiftly evolving healthcare infrastructure and growing awareness, coupled with increasing healthcare expenditure capabilities.
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Based on products, the global postpartum hemorrhage treatment devices market was led by uterine balloon tamponades in 2014, owing to higher effectiveness than other products, greater commercial availability, and relative ease of use.
“The prevalence rate of postpartum hemorrhage is currently showing a significant and alarming include, which is key driver for the demand for PPH treatment devices in the world. The mortality rate of women due to complications in pregnancy has been on the rise. According to the United States Agency for International Development (USAID) and the World Bank, emerging economies account for more than 99% of the maternal deaths in the world, primarily due to the lack of affordable products and skilled medical aid in remote locations that still hold a high population density,” states a TMR analyst. The introduction of cheaper products in PPH treatment is expected to propel the market forward in these regions over the coming years.
PPH treatment devices manufacturers are additionally improving their promotion and outreach efforts to capitalize on the untapped opportunities in emerging economies. The market players will also stand to gain from the increasing rate of planned government initiatives and efforts to make PPH treatments and devices available at remote areas.
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A high percentage of patients residing in emerging economies lack the proper amount of awareness regarding the availability of PPH treatment devices and options. This is currently the leading inhibitor for the global postpartum hemorrhage treatment devices market in the Middle East, Asia Pacific, and sub-Saharan Africa. Other regions are also still showing low level of acceptance for novel PPH treatment options over conventional ones, largely due to the price of each option.
The future of the global postpartum hemorrhage treatment devices market lies in the players developing their existing distribution channels to spread their business across all key emerging economies. Additionally, they are making efforts to promote awareness about the availability of these solutions. This is expected to created growth opportunities for the market in the forthcoming years.
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Transparency Market Research (TMR) is a 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 business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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