Postpartum Hemorrhage Treatment Devices Market is Expected to Reach US$ 926.1 Million by the End of 2023
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“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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The global postpartum hemorrhage (PPH) treatment devices market currently features a highly fragmented competitive landscape, according to a research report published by Transparency Market Research. The leading players in the market – including Teleflex Inc., Utah Medical Products, and C.R. Bard – are currently investing strongly into marketing strategies that promote their newer products as alternatives to conventional methods of treating postpartum hemorrhage. While it is creating higher awareness among patients and the healthcare industry, it increases the overall cost of business, which eventually reflects on higher product pricing. This is creating a moderate volume of aversion to the more expensive products due to the presence of regional players that can offer the conventional products at cheaper rates. This trend is especially prevalent in emerging economies.
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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