The Intra Abdominal Pressure Measurement Devices Market is estimated to be valued at US$ 106.7 Mn in 2023 and is expected to exhibit a CAGR of 16.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The Intra Abdominal Pressure Measurement Devices Market is very important as it deals with critical care and surgery departments. Intra-abdominal hypertension (IAH) and abdominal compartment syndrome (ACS) are medical conditions where increased pressure within the abdominal cavity can impair vital organ function. Intra-abdominal pressure measurement helps monitor abdominal pressure and manage IAH and ACS in critically ill patients.
Market Overview:
Intra-abdominal pressure measurement devices are used to measure intra-abdominal pressure in critically ill patients admitted to intensive care units. These devices are used to diagnose and monitor medical conditions like intra-abdominal hypertension and abdominal compartment syndrome that can occur post-surgery or due to injury or infection. Regular monitoring of intra-abdominal pressure helps the medical team identify any rise in pressure at early stages and take preventive actions.
Market key trends:
One of the key trends spurring growth of the intra-abdominal pressure measurement devices market is growing incidences of chronic conditions requiring abdominal surgeries. Chronic diseases like obesity, colorectal cancer are increasing worldwide. Post-surgery complications like IAH and ACS have also increased with rise in complex abdominal surgeries performed. Early detection and management of increased intra-abdominal pressure has been shown to improve patient outcomes and recovery. This has increased adoption of intra-abdominal pressure monitoring in critical care settings. The availability of portable single-use as well as reusable intra-abdominal pressure monitoring devices has also aided their increased integration into clinical practice.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established industry players make it difficult for new companies to enter and gain market share.
Bargaining power of buyers: Buyers have moderate bargaining power as there are numerous established brands to choose from.
Bargaining power of suppliers: A few major medical device manufacturers dominate the supply market, giving them significant influence over pricing.
Threat of new substitutes: No major substitute technologies are available currently for intra-abdominal pressure monitoring.
Competitive rivalry: Intense competition exists among major brands to gain market share through new product launches and geographic expansion.
SWOT Analysis
Strengths: Established brands with global distribution networks and brand recognition.
Weaknesses: High research and development costs for new product innovations. Regulations and certifications raise compliance costs.
Opportunities: Growing geriatric population prone to conditions requiring monitoring raises demand. Emerging markets in Asia Pacific offer new opportunities.
Threats: Stringent regulatory approvals delay market entry. Reimbursement policies vary globally impacting uptake.
Key Takeaways
The Global Intra Abdominal Pressure Measurement Devices Market Growth is expected to witness high, exhibiting a CAGR of 16% over the forecast period, due to increasing incidence of abdominal conditions requiring monitoring. The market size for 2023 is estimated at US$ 106.7 million.
Regionally, North America dominates the market currently owing to advanced healthcare facilities and awareness. Asia Pacific is expected to be the fastest growing market due to expanding medical infrastructure and growing disease burden.
Key players operating in the Intra Abdominal Pressure Measurement Devices market are 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. Major players are focused on new product approvals and geographic expansion to strengthen their market position.
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