Pressure Relief Mattress Market
: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation
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: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation
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Our in-depth analysis has segmented global pressure relief mattress market into the following segments:
Global pressure relief mattress market is further classified on the basis of region as follows:
Global pressure relief mattress market is anticipated to witness a robust growth during the forecast period i.e.2017-2024. Factors such increasing geriatric population coupled with growing prevalence of pressure ulcer diseases all across the globe are expected to bolster the growth of global market of pressure relies mattress during the forecast period. Further, global pressure relief mattress market is anticipated to reach at a valuation of near about USD 2.2 Billion by the end of forecast period.
In addition to this, global pressure relief market is segmented into type, product type, end user, condition and region. Regionally, global pressure relies mattress market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Further, North America is the major market of pressure relief mattress and is expected to witness significant demand for pressure relief mattress in near future. Growing number of patient suffering from ulcer diseases and existing advanced healthcare infrastructure are some major factors which are believed to foster the growth of North America pressure relief mattress market in near future.
Further, Europe pressure relief mattress market is likely to grow at a satisfactory pace during the forecast period. This growth in Europe region can be attributed to a number of factors such as rising awareness amongst the consumers regarding ulcer diseases and growing expenditures on healthcare in this region.
Moreover, Asia Pacific pressure relief mattress market is envisioned to grow at maximum pace over the forecast period. Rising geriatric population in some Asia Countries including China coupled with rising affordability of consumers are some of the major factors which are expected to fuel the growth of pressure relief mattress market in Asia Pacific region.
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Global pressure relief mattress market is primarily driven by factors such as rising prevalence of ulcer diseases and growing geriatric population all across the world.
Pressure relief mattress is highly used in care & treatment of patients who are unable to change their position such as obese patients. Moreover, the demand for pressure relief mattress is expected to rise during the forecast period owing to increasing number of bed bound patients all over the globe.
Further, growing enhancement of health care infrastructure in emerging countries is a key driver to the growth of global pressure relief mattress. Additionally, growing technological advancements with pressure relief mattress and their growing demand from hospitals are anticipated to escalate the growth of global market during the forecast period.
Likely, increasing disposable income of the consumers, growing affordability and rising expenditure on health care are expected to be dynamic factors behind the growth of global pressure relief mattress market.
However, high cost of pressure relief mattress is a major challenge to the global market. Further, this high cost of pressure relief mattress is likely to hamper the growth of global market of pressure relief mattress in near future.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
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