The absence of strict regulatory norms and low investment required for research and development makes it easy for aspiring players to foray into the global pressure relief devices market. As a result, the market is highly fragmented with numerous regional and multinational companies operating in it. Three of the major players in the market are ArjoHuntleigh, Hill-Rom Holdings, and Invacare Corporation. Together they held over half the global market in 2013, with ArjoHuntleigh exhibiting the dominant share of 30.2%. The company led on account of its wide variety of products and well-timed mergers and acquisitions.
Besides mergers and acquisitions, some of the other popular strategies adopted by various companies operating in the industry to expand their market share are new product offerings and price differentiation. Companies also resort to tie-ups with hospitals to ensure the sale of their products. Due to stiff competition in the market, the bargaining power of buyers, which include hospitals and other healthcare institutions, has been high.
The opportunity in the global pressure relief devices market is expected to be worth US$2.85 bn by 2020. It was valued at US$2.198 bn in 2015.
Asia Pacific Predicted to Outpace Europe and North America vis-à-vis Growth Rate
Depending upon the type of devices, the global pressure relief devices market can be broadly segmented into two – low-tech devices and high-tech devices. The low-tech devices, also known as static support devices, are mostly used to lessen the pressure on the skin and tissue experienced by patients as a result of the weight of their bodies. On account of their easy operability, cheaper cost, and ability to thwart ulcers, they led the market in 2015 by clocking a revenue of US$1.93 bn. The low-tech devices segment can be further divided into gel-filled mattresses, foam-based mattresses, air-filled mattresses, and others. Among them, foam-based mattresses have been grossing maximum revenue.
Geography-wise, the global market for pressure relief devices can be divided into North America, Asia Pacific, Europe, and the Rest of the World. North America has been the dominant market so far and is expected to maintain its position in the upcoming years too. This is due to the high prevalence of pressure ulcers and rising awareness about them in the region. The market in North America was worth US$1.07 bn in 2015. In terms of growth rate, Asia Pacific is slated to outpace the developed markets of North America and Europe due to a burgeoning geriatric population.
Persistent Increase in Obesity fuelling Uptick in Demand for Pressure Relief Devices
Obesity is one of the main causes of pressure ulcers. The World Health Organization (WHO) said that the number of obesity cases had doubled in 2014 from 1980, with over 600 mn obese adults in 2014. This alarming rise in obesity problem has been one of the main reasons for the growth of the market so far. Another factor driving market growth has been the rise in the geriatric population, which has resulted in an uptick in the demand for pressure relief devices, namely specialty beds, mattresses, and mattress overlays.
Some of the factors that are dampening the growth of the global market for pressure relief devices are their high cost and unfavorable changes in reimbursement policies. “Pressure ulcer is a very expensive disease and requires large amount of money for treatment and monitoring. The average cost of an air fluidized therapy bed ranges between US$15,000 and US$25,000. Such high cost of pressure relief devices creates uncertainty among buyers,” explains the lead analyst of the report.
This review is based on the findings of a TMR report titled “Pressure Relief Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020.”
Global Pressure Relief Devices Market, By Device Types
- Low-tech Device
- Foam Based Mattress
- Gel Filled Mattress
- Air Filled Mattress
- Other Mattress
- Hi-tech Device
- Kinetic Bed
- Dynamic Air Therapy Bed
Global Pressure Relief Devices Market, By Region
- North America
- Asia Pacific
- Rest of the World
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