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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Intra Abdominal Pressure (IAP) refers to the pressure within the abdominal cavity, which is a crucial parameter to monitor in critically ill patients. The IAP measurement device is a medical device that measures and monitors the pressure inside the abdomen. This device is used in various clinical applications, including trauma care, general surgery, intensive care units, and urology. The increasing prevalence of chronic diseases such as obesity, diabetes, and hypertension, which often lead to complications with increased IAP, is driving the demand for IAP measurement devices. Additionally, advancements in technology have led to the development of minimally invasive devices that are more accurate and easy to use, further fueling market growth.
Market Dynamics:
The global intra abdominal pressure measurement device market is driven by two main factors: the increasing prevalence of chronic diseases and technological advancements.
One of the key drivers for the market is the rising prevalence of chronic diseases. Obesity, diabetes, and hypertension are all risk factors for increased IAP. As the number of people with these conditions continues to rise, the demand for IAP measurement devices is also increasing. Moreover, the growing geriatric population, which is more prone to chronic diseases and related complications, further contributes to the demand for these devices.
Technological advancements have played a significant role in the growth of the intra abdominal pressure measurement device market. The development of minimally invasive devices has made it easier and more accurate to measure and monitor IAP. These devices offer better patient comfort and reduced risk of complications compared to traditional invasive methods. For example, the use of laparoscopic IAP measurement devices allows for real-time monitoring during surgeries, enabling better surgical outcomes.
Segment Analysis:
The intra abdominal pressure measurement device market can be segmented based on product type, end-user, and region. Based on product type, the market is segmented into disposable and reusable devices. The disposable devices segment dominates the market due to their cost-effectiveness and reduced risk of cross-contamination.
In terms of end-user, the market is segmented into hospitals, ambulatory surgical centers, and others. Hospitals account for the largest market share due to the higher patient inflow and availability of advanced healthcare infrastructure.
PEST Analysis:
Political: The political environment plays a crucial role in the adoption and regulation of medical devices. Stringent regulations related to device approval and patient safety can impact market growth.
Economic: The economic factors influencing the market include healthcare expenditure, reimbursement policies, and healthcare infrastructure development. Growing healthcare spending and favorable reimbursement policies drive market growth.
Social: Increasing awareness about the importance of monitoring intra abdominal pressure and the rising prevalence of chronic diseases contribute to market growth. Additionally, the growing aging population is more prone to chronic diseases, further fueling the demand for intra abdominal pressure measurement devices.
Technological: Technological advancements, such as the development of minimally invasive devices and wireless monitoring systems, have significantly improved the accuracy and ease of using intra abdominal pressure measurement devices. These advancements drive market growth.
Key Takeaways:
The global Intra Abdominal Pressure Measurement Device Market Growth is expected to witness high growth, exhibiting a CAGR of 16.1% over the forecast period, due to increasing prevalence of chronic diseases and technological advancements.
Regionally, North America dominates the market due to the presence of key players and advanced healthcare infrastructure. However, Asia Pacific is expected to be the fastest-growing region, driven by a large patient population, rising healthcare expenditure, and improving healthcare infrastructure.
Key players operating in the global 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 players focus on strategic collaborations, product innovations, and expanding their geographical presence to gain a competitive edge in the market.
