According to a new study by Transparency Market Research (TMR), some of the prominent companies operating in the global surgical drapes market have resorted to strategies such as product differentiation, aggressive pricing, and product upgrades to buoy competitive strength.
Albany, NY -- (SBWIRE) -- 12/07/2017 -- According to TMR, the global surgical drapes market is likely to remain steady during 2017 and 2025, exhibiting a CAGR of 3.3% during the time-frame. At this pace, the market is expected to value US$3.8 bn by the end of 2025. Among end users, the market is expected to witness significantly high demand from the hospital segment. Besides this, the market is forecast to be led by North America among its key regional segments.
The global surgical drapes market exhibit the presence of several tier 1, tier 2, and tier 3 companies. This is indicative of a highly competitive vendor landscape. According to a new study by Transparency Market Research (TMR), some of the prominent companies operating in the global surgical drapes market have resorted to strategies such as product differentiation, aggressive pricing, and product upgrades to buoy competitive strength. Besides these, several companies are forging distribution partnerships aimed at reached wider audiences, thereby expanding their regional and global footprint.
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The global surgical drapes market will continue exhibiting strong growth in the forthcoming years on account of the rising incidence of hospital-acquired infection (HAIs). Besides this, the probability of surgical site infections (SSIs) increasing owing to the use of unsterilized equipment is fuelling the demand for surgical drapes. Surgical drapes help in preventing the incidence of SSIs, which is identified as one of the chief market drivers. In addition, surgical drapes protect from various forms of contamination such as skin flora, which is identified as one of the key triggers of SSIs. They are used by patients and healthcare workers alike, which has bode well for the overall market. The fact that surgical drapes are available in various sizes and diverse ranges has helped the market hold on to its steady growth as well.
A recent study by the National Hospital for Tropical Diseases has revealed that hospital acquired infections are more prevalent in low and middle-income nations. According to organization, emerging nations showed high prevalence of hospital acquired infections compared to the US and a few of the developed countries across Europe. Because adoption of preventive methods such as using surgical drapes can help reduce the prevalence of HAIs, their demand has been rising at a steady pace over the years. Considering this, the use of surgical drapes has increased significantly during surgeries. As an outcome of these factors, the market is witnessing a significantly high demand for surgical drapes, a condition, which is unlikely to change in the coming years unless breakthroughs occur in the healthcare sector.
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Over the years, the adoption of surgical drapes has increased in the Americas. The region witnesses a significantly high number of surgeries conducted in a given year as a result of the rising incidence of chronic ailments and other factors. Incise surgical drapes are mostly used during complex surgeries such as limb amputation due to diabetes, trauma, cardiac surgeries, or maxillofacial surgeries. Against this backdrop, experts have identified the market's potential to keep exhibiting positive trajectory through the course of the forecast period. "To the market's advantage, government initiatives aimed at spreading awareness regarding HAI's will lead to the increased adoption of disposable surgical sterile drapes," said a lead TMR analyst. Given the scenario, the global surgical drapes market is expected to remain steady through the course of the forecast period.
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