Pune, India, May 16, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global pressure ulcer prevention market size was valued at USD 1.04 billion in 2022. The market is projected to grow from USD 1.08 billion in 2023 to USD 1.43 billion by 2030, exhibiting a CAGR of 4.0% during the forecast period.
People over sixty-five are more prone to chronic disorders such as diabetes, COPD, and renal failure. This results in long-term hospitalization, which may cause pressure injuries among the aging population. Increasing awareness programs to enhance preventive measures against pressure ulcers is favoring the growth opportunities of the market growth.
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Key Industry Development:
•June 2022: Nephew & Smith financed USD 100.0 million in its new R&D and manufacturing facility for its advanced wound management franchise on the outskirts of Hull, U.K., to further establish its customer reach and enhance its distribution channel.
Key Takeaways:
- The increasing danger of pressure ulcers among hospitalized and geriatric individuals is expected to drive the demand for preventive devices.
- The market is categorized into different product types, including static support surfaces, dynamic support surfaces, dressings, positioners & protectors, and creams.
- The market in North America generated a revenue of USD 0.47 billion in 2022.
- Stryker, Hill-Rom Holdings, Inc., and Invacare Corporation dominated the global market.
Discover the Leading Players Featured in the Report:
- Agiliti Health, Inc. (U.S.)
- Arjo (Sweden)
- Savaria (Canada)
- Medline Industries, LP (U.S.)
- Coloplast Corp. (Denmark)
- Smith & Nephew plc (U.K.)
- Stryker (U.S.)
- Mölnlycke Health Care AB (Sweden)
- Hill-Rom Holdings, Inc. (U.S.)
- Invacare Corporation (U.S.)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 4.0% |
| 2030 Value Projection | USD 1.43 billion |
| Base Year | 2022 |
| Market Size in 2022 | USD 1.04 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 147 |
| Segments covered | By Product Type, End User, and Region |
Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/pressure-ulcer-prevention-market-100465
Driving factor:
Rising Risk of Pressure Ulcers amongst Geriatric & Hospitalized Populace to Propel Market Growth
A substantial proportion of the geriatric population suffers from chronic disorders such as diabetes, renal failure, and COPD. Moreover, the increase in the number of long-term hospitalizations of geriatric populations due to chronic conditions has increased the risk of developing other debilitating complications such as pneumonia, contractures, and pressure ulcers.
On the other hand, emerging nations such as Asia Pacific, Latin America, and Middle East Africa limiting the adoption rate due to the high costs of the devices affecting the pressure ulcer preventive market growth.
Segmentation:
Various Strategies by Key Players for Helping Dynamic Support to Lead the Market Growth in 2022
On the basis of product type, the market is segmented into dynamic support surfaces, positioners & protectors, static support surfaces, and cream & others. The dynamic support surfaces segment is further sub-segmented into low-air-loss mattresses, alternating-air or high-air-loss mattresses, and others. In 2022, the dynamic support surfaces segment held the largest share with increasing strategic initiatives such as partnerships and acquisitions by key players favoring the segment's growth.
Rising Government Policies to Propel the Market Growth of Ambulatory Surgery Centers & Hospitals
According to end-user analysis, the market is fragmented into hospitals & ambulatory surgery centers, long-term care & urgent care centers, clinics, home care settings, and others. The dominance of the hospitals & ambulatory surgery centers segment was witnessed in the year 2022 globally. A rise in the adoption rate of treatment options for pressure ulcers in hospitals and ambulatory surgery centers predicted growth.
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Regional insights:
Increasing Chronic Diseases to Lead the Market in North America
North America dominated the pressure ulcer preventive market share due to its technological advancements and increasing burden of chronic diseases to prevent pressure ulcers globally. The revenue generated by the region in 2022 was USD 0.47 billion.
Europe held a considerable share of the global market in 2022. The growth in Europe is attributed to the growing initiatives by various organizations to increase awareness regarding pressure ulcers in Europe.
Asia Pacific presented the highest CAGR from 2023-2030. The rising initiatives of the government for the devices across Asia Pacific countries drive market expansion.
Competitive Landscape
Market Players Focus on New Product Launches to Strengthen Market Position
Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and launching new, technologically-advanced products in the market. Some companies also adopt partnerships, mergers, and acquisitions to strengthen their market position. In July 2022, Medline Industries, LP launched a new version of Opt Foam Gentle EX foam dressing which helps in preventing pressure injury. The innovative new version helped the company to expand its product portfolio.
FAQs
What is the market for pressure ulcer relief products?
In 2022, the global pressure ulcer prevention market was valued at USD 1.04 billion, and it is anticipated to increase from USD 1.08 billion in 2023 to USD 1.43 billion by 2030, with a compound annual growth rate (CAGR) of 4.0% throughout the forecast period.
Which region held the maximum share of the global market?
North America dominated the global market in 2022.
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Related Links:
Pressure Ulcer Treatment Market Size, Share, Growth Industry Report
Wound Care Market Share, Size, Demand, and Forecast
Advanced Wound Dressings Market Size, Share, Growth Industry Report
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