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The intra-abdominal pressure monitoring devices market has gained significant traction in the recent past owing to a rise in the number of various abdominal surgeries performed globally coupled with the advantages offered by these devices in post-surgery patient care. Intra-abdominal pressure monitoring devices help physicians closely monitor patients undergoing abdominal surgery and detect any asymptomatic increase in pressure, allowing timely intervention. These devices help reduce complications and optimize resource utilization associated with high intra-abdominal hypertension. The global Intra Abdominal Pressure Measurement Devices Market is estimated to be valued at US$ 106.07 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.
Market key trends:
One of the major trends in the intra-abdominal pressure monitoring devices market is the growing preference for minimally invasive monitoring solutions. Several market players are focusing on developing easy to use, minimally invasive devices that can precisely measure intra-abdominal pressure in a non-intrusive manner. For instance, in 2020, Centurion Medical launched the Ab dome Pressure Monitor, a single-use device that utilizes a proprietary pressure sensing technology to continuously and directly measure intra-abdominal pressure at the bladder without the need for an indwelling catheter. Such innovative product launches are expected to boost the demand for intra-abdominal pressure monitoring devices over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the Intra Abdominal Pressure Measurement Devices industry requires high R&D investment and regulatory approvals.
Bargaining power of buyers: The bargaining power of buyers is high due to the presence of many established players offering diverse product options.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are several component manufacturers.
Threat of new substitutes: The threat of new substitutes is low as there are limited product substitution options for Intra Abdominal Pressure Measurement Devices.
Competitive rivalry: The competitive rivalry is high among the top players due to their global presence and technological innovations.
Key Takeaways
The global Intra Abdominal Pressure Measurement Devices market is expected to witness high growth.
Regional Analysis: North America region is expected to dominate the market owing to growing obese population, increasing surgical procedures and high adoption of advanced medical devices in the region. Europe is also expected to register a significant growth in the forecast period due to increasing prevalence of diseases requiring intra-abdominal pressure monitoring in countries like Germany, UK and Italy.
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. CR Bard dominates the market with product offerings such as FoleyManometer, which is a versatile device for continuous intra-abdominal pressure monitoring. However, small players are focusing on product innovations to gain competitive edge.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
