(MENAFN- P&S Intelligence) The pressure relief devices market is all set to reach a value of USD 5,923.9 million by 2030 powering at a compound annual growth rate of 6.5% by the end of this decade.
The key factors powered to the growth of the industry include the increasing occurrence of pressure ulcers, the growing consciousness about them, and the mounting elderly and obese people. Furthermore, extended bed rest as a result of medical illnesses, for example cancer and numerous bone fractures, can bring about pressure ulcers, which surges the usage of pressure relief devices.
The key end user of these devices is hospitals, which contribute over 40% of the revenue. The hospital infra has been improving in the years to come, and patients will spend more for availing these facilities.
North America was over 37% in the recent past, and will maintain its dominance by the end of this decade as well. It is because of the high occurrence of pressure ulcers in the region.
Moreover, the existence of a mature reimbursement network, accompanied by the funding of the government, is powering the industry. Canada, with its robust emphasis on healthcare infra, is, similarly, contributing to the market substantially, as hospitals largely use pain relief devices for treatment of pressure ulcers.
The U.S. is the major nation in the region, and will observe the faster growth in the future. The growth is because of the increase in the R&D of novel products, accompanied by the occurrence of numerous major players in the country.
Europe pressure relief devices market follows North America, because of the high rate of diagnosis and treatment of pressure ulcers in the Western part of the region, accompanied by the strong healthcare infra.
There has been an increasing prevalence of pressure ulcers all over the world and also the elderly population is also on the rise. Both of these factors have a positive impact on the demand for pressure relief devices.
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