SAN FRANCISCO, May 27, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Pressure Ulcer Relief Products – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 19; Released: May 2021
Executive Engagements: 17814
Companies: 116– Players covered include 3M; ArjoHuntleigh; B. Braun Melsungen AG; Cardinal Health, Inc.; Coloplast A/S; ConvaTec Group PLC; Essity AB; GF Health Products; Inc.; Hill-Rom Company; Inc.; Integra LifeSciences; Invacare Corp.; James Consolidated Inc.; Joerns Healthcare; Linet spol. s.r.o; Mölnlycke Health Care AB; Permobil; Smith & Nephew plc; Span-America Medical Systems; Inc.; Steigelmeyer Group; Stryker Corp. and Others.
Coverage: All major geographies and key segments
Segments: Treatment (Wound Care Dressings, Wound Care Devices, Active Therapies, Other Treatments); End-Use (Hospital Inpatient Settings, Hospital Outpatient Settings, Community Health Centers, Home Healthcare)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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ABSTRACT-
Global Pressure Ulcer Relief Products Market to Reach $6.6 Billion by 2026
Pressure ulcers are one of the most physically-debilitating complications, and are considered to be the third most expensive disorder following cancer and cardiovascular diseases. Dressings and topical agents are used to treat pressure ulcers and promote healing. Growth in the market is being driven mainly by the rise in aging population, increase in prevalence of pressure ulcers among the geriatric population, rising incidences of hospital-acquired pressure ulcers, and growing demand for advanced wound care products for treatment. In addition, the growing prevalence of chronic disorders, including cardiovascular diseases and diabetes, that may cause pressure ulcers are anticipated to fuel the market growth. Rise in healthcare expenditure, particularly in the developing countries, and growing awareness among patients about the availability of treatment are anticipated to further augment the growth.
Amid the COVID-19 crisis, the global market for Pressure Ulcer Relief Products estimated at US$4.7 Billion in the year 2020, is projected to reach a revised size of US$6.6 Billion by 2026, growing at a CAGR of 5.9% over the analysis period. Wound Care Dressings, one of the segments analyzed in the report, is projected to record a 7.2% CAGR and reach US$2.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Wound Care Devices segment is readjusted to a revised 6.2% CAGR for the next 7-year period. Wound care dressings is forecast to maintain its dominance due to the higher adoption of wound care dressings as they are the main treatment option for pressure ulcers and also benefit in expediting the healing process. Hospitals and clinics are projected to witness strong growth led by the increased number of treatment procedures being conducted at hospitals and clinics.
The U.S. Market is Estimated at $1.6 Billion in 2021, While China is Forecast to Reach $603.6 Million by 2026
The Pressure Ulcer Relief Products market in the U.S. is estimated at US$1.6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$603.6 Million by the year 2026 trailing a CAGR of 8.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.6% and 5.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.7% CAGR. Growing prevalence of pressure ulcers, improved and well-established healthcare infrastructure, and increasing number of new product launches are the primary factors driving growth in North America region. In addition, rising investments by major players in the region, coupled with pilot tests and clinical trials, are boosting the regional market growth. Europe is another major regional market, attributed to the rising geriatric population and increasing incidences of pressure ulcers. The rapidly increasing aging population, coupled with rising number of patients with pressure ulcers is driving rapid growth in the Asia-Pacific region.
Active Therapies Segment to Reach $1 Billion by 2026
In the global Active Therapies segment, USA, Canada, Japan, China and Europe will drive the 5.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$605.3 Million in the year 2020 will reach a projected size of US$874.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$78.5 Million by the year 2026, while Latin America will expand at a 6.3% CAGR through the analysis period. More
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CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: ZA@StrategyR.com
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SOURCE Global Industry Analysts, Inc.
