The global intra abdominal pressure measurement device market is estimated to be valued at US$ 106.7 million in 2023 and is expected to exhibit a CAGR of 16.1% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Intra abdominal pressure measurement devices are used to measure the pressure inside the abdominal cavity. These devices play a crucial role in the diagnosis and management of various abdominal complications, such as intra-abdominal hypertension and abdominal compartment syndrome. They help in assessing the risk of organ dysfunction and guiding the treatment process. The need for accurate and timely measurement of intra-abdominal pressure has led to the adoption of these devices in various healthcare settings, including hospitals and ambulatory surgical centers. The advantages of these devices include non-invasiveness, ease of use, and real-time monitoring.
Market Key Trends:
One key trend in the intra abdominal pressure measurement device market is the increasing adoption of minimally invasive procedures. Minimally invasive surgeries have gained popularity over traditional open surgeries due to several benefits, such as smaller incisions, reduced pain and scarring, faster recovery, and shorter hospital stays. Intra abdominal pressure measurement devices play a vital role in monitoring and controlling intra-abdominal pressure during minimally invasive procedures, ensuring better patient outcomes. The growth of the market is also driven by the rising prevalence of abdominal complications, such as liver disease, kidney failure, and trauma, which necessitate the use of intra abdominal pressure measurement devices for effective management. Additionally, technological advancements, such as wireless and portable devices, are further enhancing the adoption of these devices in healthcare settings.
PEST Analysis:
Political: The political factors impacting the intra-abdominal pressure measurement device market include government regulations and policies related to healthcare and medical devices. These regulations can affect the market dynamics, pricing, and access to the devices.
Economic: The economic factors influencing the market include the overall economic conditions, healthcare expenditure, and the affordability of healthcare facilities. As the global economy continues to grow, there is an increasing focus on improving healthcare infrastructure, which is expected to drive the demand for intra-abdominal pressure measurement devices.
Social: The social factors impacting the market include the increasing incidence of abdominal disorders and surgical procedures globally. The growing awareness among the population regarding the importance of monitoring intra-abdominal pressure for better patient outcomes also drives the market.
Technological: The technological advancements in intra-abdominal pressure measurement devices, such as wireless and non-invasive devices, have significantly improved the accuracy and ease of use. These advancements are expected to drive the adoption of these devices in the market.
Key Takeaways:
The global Intra Abdominal Pressure Measurement Devices Market is expected to witness high growth, exhibiting a CAGR of 16.1% over the forecast period of 2022-2030. This growth can be attributed to increasing awareness and the rising incidence of abdominal disorders and surgical procedures globally.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the market. The region has well-established healthcare infrastructure, increasing disposable income, and higher healthcare expenditure. Additionally, the presence of key market players in North America contributes to its dominance in the market.
Key players operating in the intra-abdominal pressure measurement device market include CR. Bard, Inc. (Becton, Dickinson, and Company), ConvaTec Group PLC, Stryker Corporation, Biometrix Ltd. (Degania Silicone, Ltd.), Centurion Medical Products (Medline Industries, Inc.), and Potrero Medical. These key players are engaged in product development, mergers and acquisitions, and strategic collaborations to gain a competitive edge in the market.
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