by The 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:
The Intra Abdominal Pressure Measurement Device market is witnessing significant growth due to the increasing prevalence of chronic diseases such as obesity, diabetes, and cardiovascular diseases. These devices are used for measuring the intra-abdominal pressure (IAP) within the abdominal cavity. The measurement of IAP is crucial in critical care settings as elevated IAP is associated with various organ dysfunctions. Intra Abdominal Pressure Measurement Devices are widely used in hospitals, ambulatory surgical centers, and clinics. These devices play a vital role in patient monitoring and providing early detection of abdominal compartment syndrome, which can lead to multiple organ failure.
Market Dynamics:
The market for Intra Abdominal Pressure Measurement Devices is primarily driven by the increasing prevalence of chronic diseases and the rising geriatric population. The growing awareness among healthcare professionals regarding the importance of IAP measurement in critical care settings is also contributing to market growth. Additionally, advancements in technology have led to the development of innovative and user-friendly devices, further boosting market growth. However, the high cost associated with these devices and the lack of skilled professionals may hinder market growth to some extent.
Segment Analysis:
The intra-abdominal pressure measurement device market can be segmented based on type, application, and end-user. In terms of type, the dominating segment is the disposable devices. Disposable devices are preferred over reusable devices due to their convenience and cost-effectiveness. They eliminate the need for sterilization and reduce the risk of cross-contamination. Additionally, disposable devices offer accurate and reliable measurements, making them highly demanded by healthcare professionals.
PEST Analysis:
Political: The political factors affecting the intra-abdominal pressure measurement device market include government regulations and policies regarding medical devices. Stringent regulations and approvals can impact the market growth and cost of manufacturing.
Economic: Economic factors such as healthcare expenditure and reimbursement policies play a vital role in the market’s growth. High healthcare spending and favorable reimbursement policies encourage the adoption of intra-abdominal pressure measurement devices.
Social: The increasing prevalence of chronic diseases, such as obesity and gastrointestinal disorders, drives the demand for intra-abdominal pressure measurement devices. Moreover, the growing geriatric population contributes to market growth as this age group is more susceptible to abdominal complications.
Technological: Advancements in technology have led to the development of advanced intra-abdominal pressure measurement devices. These devices offer improved accuracy, portability, and ease of use. Technological advancements attract healthcare professionals, thereby driving market growth.
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 (2022-2030). This growth can be attributed to the increasing prevalence of abdominal complications and the rising adoption of intra-abdominal pressure measurement devices in critical care settings. The market is expected to reach a size of US$ 106.7 million by 2023.
In terms of regional analysis, North America is the fastest-growing and dominating region in the intra-abdominal pressure measurement device market. The region’s well-established healthcare infrastructure, high healthcare expenditure, and early adoption of advanced technologies contribute to its dominance.
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 focus on strategic partnerships, product launches, and mergers and acquisitions to strengthen their market position and gain a competitive edge.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
