Postpartum Hemorrhage Treatment Devices Market is expected to exhibit a Healthy CAGR of 4.9% between 2015 and 2023
The global postpartum hemorrhage treatment devices market is currently marked by a fragmented competitive landscape with the presence of large as well as small players, as per a fresh business intelligence study by Transparency Market Research (TMR). Leading players in the market such as Teleflex Inc., C.R. Bard, and Utah Medical Products are investing heavily in aggressive marketing strategies to promote newer products for postpartum hemorrhage. While the marketing strategies are helping to boost adoption of newer postpartum devices, this translates into an overall increase in cost for businesses, which is reflected in higher product prices. Consequently, this has created a moderate aversion for expensive products that are predominantly developed by large global players. In particular, patients in emerging economies tend to opt for conventional products offered by regional players at cheaper prices.
As per estimates of the TMR report, the global market for postpartum hemorrhage treatment devices was worth US$604.4 mn in 2014. The opportunities in the market are likely to translate into a revenue of US$926.1 mn by 2023-end, rising at a CAGR of 4.90% from 2015 to 2023. In terms of product, uterine balloon tamponades led the overall market in 2014, due to their higher effectiveness and easy commercial availability. Geography-wise, North America emerged dominant in 2014, on the back of easy availability of advanced healthcare products.
Apart from this, meticulous efforts by manufacturers of postpartum hemorrhage treatment devices to expand presence and extend promotions in underserved regions is stoking growth of the PPH treatment devices market. Leading market players will also benefit from increasing government initiatives and efforts to provide PPH treatments and devices for patients located in remote areas.
High Price Factor of Newer Devices Roadblock to Market’s Growth
On the downside, immense lack of awareness regarding the availability of PPH treatment and devices among a large percentage of patients located in remote areas of Asia Pacific, Middle East and Africa, and Sub-Saharan Africa is holding back the market’s growth. Slow adoption of novel PPH treatments and devices due to the high price factor is also negatively impacting the market’s growth.
Nevertheless, efforts of product manufacturers to expand their existing distribution channels to serve remote areas of emerging economies is indicative of bright growth prospects for PPH treatment devices market. Promotional campaigns to raise awareness about the availability and usefulness of PPH devices is likely to augur the growth of this market.