A recently added report by Future Market Insights (FMI), titled, “Intra-Abdominal Pressure Measurement Devices Market: Developed Markets of North America and Western Europe Anticipated to Create Significant Opportunity for Manufacturers over the Forecast Period: Global Industry Analysis & Opportunity Assessment, 2016–2026,” throws light on crucial aspects of the market. It offers information on the growth drivers and restraints shaping the trajectory of the market, its size, and prospects in the foreseeable future. It carefully examines the competitive dynamics in the market by leveraging popular analytical tools in order to uncover the opportunities and threats players might encounter.
The report finds that the global market for intra-abdominal pressure measurement devices will likely expand at a solid 16.5% CAGR during the period between 2017 and 2026 to become worth US$174 mn by 2026.
Majorly fuelling the demand for intra-abdominal pressure measurement devices are the rising instances of intra-abdominal hypertension among patients in intensive care units across the world. An article in Critical Care Medicine Journal published in 2005 shows intra-abdominal hypertension occurs in almost 81% of ICU patients. Other medical publications have also corroborated the fact. Apart from that, emergence of digital compartment pressure monitors will also likely benefit the market on account of the critical support they provide both to patients and healthcare professionals.
One factor, serving to hinder the market for intra-abdominal pressure measurement devices is the flooding of the market with cheaper Chinese versions. This is upping the pressure on manufacturers and suppliers in the western world to slash their product prices too, in order to achieve sales and maintain margins. In the long run, this downward pressure on prices may prove detrimental to the market by forcing manufacturers to compromise on the quality.
Having thrown light on the growth drivers and restraints in the global market for intra-abdominal pressure measurement devices, the report goes on to divide it based on various parameters. Depending upon procedure, it splits the market into muscle and abdomen. Product-wise, it bifurcates the market into disposables and equipment. Application-wise, again, it segments the market into intra-abdominal hypertension and intra-compartment pressure.
The report recommends keen players in the global market for intra-abdominal pressure measurement devices to focus on developing economies that hold out a lot of opportunities for them to grow. This is because, at present, the supply and use of the products is most is mostly limited to developed markets of North America and Europe. In fact, North America at present dominates the market vis-à-vis revenue generation. In 2016, it accounted for about 56.4% share in revenue. In terms of growth rate too, the market in North America will likely surpass other regions by registering a robust CAGR of 17.0% over the course of the forecast period.
However, Asia Pacific and Latin American countries are currently underserved and hence have ample room for growth. Rising occurrence of chronic diseases and increasing number of ICU patients due to injuries and diseases, means players can see soaring sales in the regions. The countries of Middle East and Africa are predicted to remain least attractive for sales of intra-abdominal pressure measurement devices and will thus contribute very little to revenue.
Some of the key companies operating in the global market for intra-abdominal pressure measurement devices are ConvaTec Group PLC, C. R. Bard, Inc., STRYKER CORPORATION, Centurion Medical Products, Biometrix Ltd.(Degania Silicone, Ltd.), and Holtech Medical.
Queries regarding these research findings can be addressed to Future Market Insights’ analysts at email@example.com