by 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 monitor and measure the pressure inside the abdomen. These devices are important in diagnosing and managing various abdominal disorders such as intra-abdominal hypertension and abdominal compartment syndrome. The increasing prevalence of abdominal disorders, especially among critically ill patients and individuals with conditions such as sepsis and liver failure, is driving the demand for intra abdominal pressure measurement devices. These devices provide accurate and real-time measurements, helping healthcare professionals make informed decisions regarding patient care. Additionally, the advancement in technology and the development of portable and non-invasive devices are further contributing to the market growth.
Market Key Trends:
One key trend in the intra abdominal pressure measurement device market is the increasing adoption of minimally invasive techniques. Traditionally, intra-abdominal pressure was measured through invasive procedures such as bladder catheterization or needle puncture. However, with the advancements in technology, non-invasive techniques such as indirect measurement using electromanometry and ultrasound are gaining preference. These non-invasive techniques offer several advantages such as reduced risk of infection, patient discomfort, and complications associated with invasive procedures. Moreover, these techniques provide accurate and reliable measurements, further driving their adoption in the market. With the growing trend of minimally invasive procedures, the demand for non-invasive intra abdominal pressure measurement devices is expected to witness significant growth in the forecast period.
Porter’s Analysis:
Threat of new entrants: The threat of new entrants in the intra-abdominal pressure measurement device market is relatively low. This is because the market is already consolidated, with key players holding significant market share. Additionally, the high costs associated with research and development, regulatory approvals, and establishing distribution networks act as barriers to entry for new players.
Bargaining power of buyers: The bargaining power of buyers in the intra-abdominal pressure measurement device market is moderate. Buyers, such as hospitals and healthcare providers, have access to multiple suppliers and can switch between them if they are not satisfied with prices or quality. However, given the critical nature of these devices in patient monitoring, buyers may be willing to pay higher prices for reliable and accurate products.
Bargaining power of suppliers: The bargaining power of suppliers in this market is moderate. While there are several suppliers of intra-abdominal pressure measurement devices, the industry is dependent on a few key suppliers for critical components and materials. Suppliers have some leverage in negotiating prices and terms, particularly if they offer unique or specialized products.
Threat of new substitutes: The threat of new substitutes is relatively low in the intra-abdominal pressure measurement device market. These devices play a crucial role in monitoring patients with conditions such as abdominal compartment syndrome and sepsis. Currently, there are no alternatives that can provide the same level of accuracy and reliability in measuring intra-abdominal pressure.
Competitive rivalry: The competitive rivalry in the intra-abdominal pressure measurement device market is high. The market is dominated by a few major players, such as CR. Bard, Inc., ConvaTec Group PLC, and Stryker Corporation. These companies compete based on product quality, innovation, pricing, and distribution capabilities. The presence of strong competition drives continuous product development and improvement in this 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 (2022-2030). This growth can be attributed to increasing healthcare expenditure and a rise in the prevalence of conditions such as abdominal compartment syndrome and sepsis.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the intra-abdominal pressure measurement device market. This can be attributed to factors such as advanced healthcare infrastructure, favorable reimbursement policies, and a high prevalence of chronic diseases in the region.
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 focused on strategic initiatives such as mergers and acquisitions, partnerships, and new product launches to strengthen their market position and expand their product portfolio.
In conclusion, the intra-abdominal pressure measurement device market is expected to experience significant growth driven by increasing healthcare expenditure and the rising prevalence of conditions requiring monitoring of intra-abdominal pressure. North America is projected to be the fastest-growing region, and key players in the market are implementing various strategies to 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
