Albany, NY -- (SBWIRE) -- 09/11/2017 -- The global postpartum hemorrhage (PPH) treatment devices market currently features a highly fragmented competitive landscape, according to a research report published by Transparency Market Research. The leading players in the market – including Teleflex Inc., Utah Medical Products, and C.R. Bard – are currently investing strongly into marketing strategies that promote their newer products as alternatives to conventional methods of treating postpartum hemorrhage. While it is creating higher awareness among patients and the healthcare industry, it increases the overall cost of business, which eventually reflects on higher product pricing. This is creating a moderate volume of aversion to the more expensive products due to the presence of regional players that can offer the conventional products at cheaper rates. This trend is especially prevalent in emerging economies.
As stated by TMR, the intensity of competition in the in the global PPH treatment devices market is unlikely to reduce over the coming years, a factor solidified by the introduction of entities such as Bactiguard AB, 3rd Stone Design, Inc., and Cook Medical, Inc. The global postpartum hemorrhage treatment devices market was evaluated at US$604.4 mn in 2014. The market is expected to reach US$926.1 mn by the end of 2023, after exhibiting a CAGR of 4.90% from 2015 to 2023.
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North America Lead in PPH Treatment Devices Market Likely to Continue
Regionally, North America dominated the market in 2014, accounting for over 36.1% of its value, owing to a greater degree of access to advanced healthcare products and services. Emerging economies, on the other hand, are showing a much stronger growth rate in PPH treatment devices demand due to swiftly evolving healthcare infrastructure and growing awareness, coupled with increasing healthcare expenditure capabilities.
Based on products, the global postpartum hemorrhage treatment devices market was led by uterine balloon tamponades in 2014, owing to higher effectiveness than other products, greater commercial availability, and relative ease of use.
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Pregnancy-based Medical Complications on the Rise; PPH Treatment Devices to be Made More Affordable
"The prevalence rate of postpartum hemorrhage is currently showing a significant and alarming include, which is key driver for the demand for PPH treatment devices in the world. The mortality rate of women due to complications in pregnancy has been on the rise. According to the United States Agency for International Development (USAID) and the World Bank, emerging economies account for more than 99% of the maternal deaths in the world, primarily due to the lack of affordable products and skilled medical aid in remote locations that still hold a high population density," states a TMR analyst. The introduction of cheaper products in PPH treatment is expected to propel the market forward in these regions over the coming years.
PPH treatment devices manufacturers are additionally improving their promotion and outreach efforts to capitalize on the untapped opportunities in emerging economies. The market players will also stand to gain from the increasing rate of planned government initiatives and efforts to make PPH treatments and devices available at remote areas.
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Lack of Awareness Inhibits Demand for PPH Treatment Devices
A high percentage of patients residing in emerging economies lack the proper amount of awareness regarding the availability of PPH treatment devices and options. This is currently the leading inhibitor for the global postpartum hemorrhage treatment devices market in the Middle East, Asia Pacific, and sub-Saharan Africa. Other regions are also still showing low level of acceptance for novel PPH treatment options over conventional ones, largely due to the price of each option.
The future of the global postpartum hemorrhage treatment devices market lies in the players developing their existing distribution channels to spread their business across all key emerging economies. Additionally, they are making efforts to promote awareness about the availability of these solutions. This is expected to created growth opportunities for the market in the forthcoming years.
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