Pressure Relief Devices Market Growth & Trends
The global pressure relief devices market size was estimated to reach USD 6.25 billion by 2030 and is anticipated to expand at a CAGR of 6.87% during the forecast period, according to a study by Grand View Research, Inc. The rapidly growing geriatric population and an increasing number of chronic disorders have led to the growth the market globally. The geriatric population is more prone to the development of pressure ulcers that are also known as bedsores. The prolonged stay of bed-ridden patients due to several medical conditions such as multiple bone fractures, cancer, and other severe diseases results in pressure ulcers, which further upsurges the adoption of pressure relief devices. This has tremendously accelerated the demand for pressure ulcer devices globally from medical practitioners and end-users.
More than 2.5 million people in the U.S. and 0.7 million people in the U.K. are affected by pressure ulcers every year. Moreover, the treatments for these ulcers cost more than around USD 9 billion every year in the U.S. These alarming expenses are contributing to the rising demand for bedsore management equipment.
The COVID-19 pandemic has accelerated the demand for pressure relief devices globally owing to the rise in cases of obesity & overweight patients due to physical inactivity, which has resulted in the increased demand for pressure relief devices globally. Furthermore, key market players are also involved in various growth strategies to sustain in the current market competition. For instance, in February 2020, Smith & Nephew declared the commencement of construction of its new high-tech manufacturing plant in Malaysia to serve the region.
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Pressure Relief Devices Market Report Highlights
The low-tech devices segment accounted for the largest revenue share in 2021 followed by high-tech devices owing to the cost-effectiveness of the low-tech mattresses, easy availability in the market, and therapeutic benefits for the prevention of bedsores.
North America held the largest share in the pressure relief devices market and is expected to maintain its dominance during the forecast period
Companies are focusing on various growth strategies to sustain the market competition. For instance, in February 2020, Smith & Nephew declared the commencement of construction of its new high-tech manufacturing plant in Malaysia to serve the region.
Major companies are also involved in inorganic growth strategies to strengthen their market position. For instance, in April 2019, Arjo’s subsidiaries in Australia and New Zealand started a collaboration with Bruin Biometrics (BBI) to build a structure for pressure injury prevention
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