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Pressure Relief Devices Market Expected to Reach USD 2.8 Billion Globally in 2020: Transparency Market Research

Albany, NY, April 13, 2015 (GLOBE NEWSWIRE) -- According to a new market research report published by Transparency Market Research "Pressure Relief Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020" the global pressure relief devices market was valued at USD 2.0 billion in 2013 and is estimated to reach a market value of USD 2.8 billion in 2020 growing at a CAGR of 5.2% from 2014 to 2020.

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Pressure ulcers also called as bed sores or decubitus ulcers are majorly observed in geriatric people and patients (acute respiratory patient) who spend extended period of time on bed. Pressure ulcers can be prevented by a number of support surface devices that include cushions, mattresses, specialty beds and overlays. Increasing obese population and growing focus on pressure ulcer prevention are some of the prime factors driving the growth of the global pressure ulcer devices market. In addition, growing geriatric population globally also accentuates the demand for pressure relief devices. However, technical complexity, requirement of skilled personnel and high cost of the devices are some of the factors restricting the demand of pressure relief devices to some extent during the forecast period.

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Low-tech device segment accounted for the largest share in the global pressure relief devices market in 2013. The dominance of this market segment is majorly due to prevention of ulcer and cost effectiveness. Foam based mattress, gel filled mattress, air filled mattress among certain others are some of the low-tech pressure relief devices commercially available. In 2013, foam based mattress segment dominated the low-tech devices owing to easy availability, low technical complexity and comfort of the mattresses. However, gel filled mattresses are anticipated to grow at the highest growth rate from 2014 to 2020. The growth of this market segment was supported by rising preference among obese patients for gel filled mattresses, as utilization of these mattresses enables easy repositioning on the bed. Dynamic air therapy bed segment of hi-tech devices accounted for the largest share and is expected to grow at the highest CAGR from 2014 to 2020. Highly efficient and effective in pressure ulcer treatment are some of the prominent factors driving the growth of this market segment.

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In 2013, North America accounted for the largest share in the global pressure relief devices market. Increasing prevalence of pressure ulcers, growing awareness and rising demand for various advanced mattresses propels the market growth of pressure relief devices in North America. For instance, Agency for Healthcare Research and Quality (AHRQ) stated that around 2.5 million people in the U.S. are diagnosed with pressure ulcers every year. Europe was the second largest market for pressure relief devices in 2013 in terms of revenue. Growing geriatric population is one of the prominent factors propelling the uptake of pressure relief devices market in the region.

However, Asia-Pacific holds immense growth potential due to rising awareness among the patient population and large number of potential population diagnosed with pressure ulcers. Hence, capitalization on these economies is considered as a significant growth strategy for the pressure relief devices manufacturers. In addition, increasing geriatric population in a few Asian countries such as Japan, China and Singapore have accelerated the demand for accurate and reliable pressure ulcer mattresses, thereby driving the demand for pressure relief devices in the region. According to the Government of Japan, it has the fastest growing geriatric population that reached a record of 31.86 million people in September 2013 and the population segment is expected to reach 95.2 million by 2050. However, high cost of pressure ulcer treatment procedures and lack of reimbursement of hospital acquired pressure ulcers are the key factors that might restrict the growth of global pressure relief devices market.

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ArjoHuntleigh, AB (Innova Extra mattress), Covidien plc (Wings quilted premium under pads), Hill-Rom Holdings, Inc. (NP50 Prevention Surface), Invacare Corporation (Invacare Softform Excel Mattress), Stryker Corporation (PositionPRO), Talley Group Limited (QUATTRO PLUS) and Paramount Bed Holdings Co., Ltd. (Accumax mattress) are some of the key players having presence in the global pressure relief devices market.

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The global pressure relief devices market is segmented as follows:

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 Geography

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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Source:Transparency Market Research