Pressure Relief Devices Market Expected to Reach US$ 6.41 Billion by 2031 | Growth Plus Reports

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Newark, New Castle, USA, April 28, 2023 (GLOBE NEWSWIRE) -- A recent report by Growth Plus Reports estimated the global Pressure Relief Devices Market to be worth US$ 3.43 billion in 2022. From 2023 to 2031, market revenue is expected to grow at a CAGR of 7.2%, reaching US$ 6.41 billion. The research covers the most effective tactics, market trends, the competitive environment, important drivers and opportunities, statistical data, market size, and revenue. 

Key Takeaways: 

  • Governments and healthcare providers are increasing their spending on bedsores prevention and treatment, increasing market revenue.
  • Increasing product demand results from individuals' awareness of the prevention and treatment of bedsores. 
  • Increasing cases of cancer, neurovascular disease, and spinal cord disease are raising the market revenue share. 

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                                         Pressure Relief Devices Market Scope

Report AttributeDetails
Market size value in 2022US$ 3.43 billion
Revenue forecast in 2031US$ 6.41 billion
Growth RateCAGR of 7.2% from 2023 to 2031
Base Year for Estimation2022
Forecast Period2023-2031
Historical Year2021
Segments CoveredType, End-user, and Region
Regional ScopeNorth America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Market Drivers: 

The rising prevalence of chronic diseases, with long-term advisory bedrest and developing bedsores, are contributing to the pressure relief device market revenue growth. Furthermore, the management and prevention of bedsores have been improved by technological developments in wound care goods, such as pressure-relieving mattresses, wound dressings, and bandages, raising the demand for these items. Nevertheless, the cost of pressure relief devices might prevent their widespread use in some areas leading to a decrease in the purchase of these products. 

Market Segmentation: 

Growth plus reports have analyzed the global pressure relief devices market from perspectives such as type, end-user, and region. 

Type Segmentation: 

Based on the type, the global pressure relief devices market is segmented into low-tech and high-tech devices. 

The low-tech device segment dominates the global market with the highest revenue share, attributed to their cost-effectiveness, easy availability in the market, and therapeutic effects for preventing bedsores. Furthermore, these are less expensive and easier to use, contributing to the segment's revenue growth. 

End-User Segmentation: 

Based on the end-user, the global pressure relief devices market is segmented into hospitals, ambulatory surgical centers, clinics, and others. 

The hospital segment dominates the global market with the highest revenue share. As hospitals are a common place for patients to acquire pressure ulcers, hospitals may lower the prevalence of these injuries by deploying pressure relief devices, which would improve patient outcomes and lower healthcare expenses related to treating these injuries. These are the key factors driving the revenue share of the hospital segment.

Regional Growth Dynamics: 

Based on region, the global pressure relief devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. 

North America dominates the global pressure relief devices market with the largest revenue share. This revenue share is expected to rise significantly during the forecast period due to the aging population growth, increasing R&D efforts, US consumer propensity to adopt novel goods, hospital development, and well-established healthcare infrastructure. 

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Competitive Landscape:

A list of market players operating in the global pressure relief devices market are:

  • GE Healthcare
  • 3M Company 
  • Talley Group Ltd.
  • Arjo AB
  • Invacare Corporation
  • Paramount Bed Co., Ltd.

Companies are becoming significant players on the international scene because of their effective penetration across important geographies. Their recent product launches and mergers & acquisitions reinforce this dominance by top market players. Significant firms mostly employ new product launches and increased R&D investment to increase their market revenue shares.

Recent Developments: 

  • In March 2022, a novel 12" hybrid mattress and an outstanding assortment of accessories, including down and cooling gel memory foam pillows, bedding sets, comforters, mattress protectors, and fleece blankets, are among the first goods offered by the new U.S.-based home products provider Minocasa. 

Table of Content

  1. INTRODUCTION
    1. Market Ecosystem
    2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
    3. Currency Used in the Report
  2. RESEARCH METHODOLOGY 
    1. Research Approach
    2. Data Collection Methodology
    3. Data Sources 
      1. Secondary Sources 
      2. Primary Sources
    4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
    5. Market Forecasting Model
    6. Limitations and Assumptions
  3. PREMIUM INSIGHTS
    1. Current Market Trends (COVID-19 Perspective)
    2. Key Players & Competitive Positioning (2022) 
  4. MARKET DYNAMICS
    1. Drivers
    2. Restraints/Challenges
    3. Opportunities
  5. GLOBAL PRESSURE RELIEF DEVICES MARKET - ANALYSIS & FORECAST, BY TYPE
    1. Low-Tech Devices 
      1. Foam-based Mattress
      2. Gel-based Mattress
      3. Fiber-Filled Mattress
      4. Water/Fluid Filled Mattress
      5. Air-Filled Mattress
    2. High-Tech Devices
      1. Dynamic Air Therapy Beds
      2. Kinetic Beds
  6. GLOBAL PRESSURE RELIEF DEVICES MARKET - ANALYSIS & FORECAST, BY END-USER
    1. Hospitals 
    2. Ambulatory Surgical Centers
    3. Clinics
    4. Others

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VALUE PROPOSITIONS RELATED TO THE REPORT:

  • Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
  • Comprehensive quantitative and qualitative insights at segment and sub-segment level
  • Covid 19 impact trends and perspective
  • Granular insights at global/regional/country level
  • Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
  • Blanket coverage on competitive landscape
  • Winning imperatives
  • Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

CUSTOMIZATION OPTIONS:

  • Distributor Landscape Assessment
  • Pricing Intelligence
  • Customer Base Assessment
  • Investment & Initiatives Analysis
  • 'Business Profile' of Key Players

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