Future Market Insights (FMI), an ESOMAR-certified market research and consulting firm, offers insights into key factors driving demand for Skin Perfusion Pressure Testing Devices in a new study. The report skin perfusion pressure testing devices market analyses the impact COVID-19 has had on the medical device industry in general, and skin perfusion pressure testing devices in particular.
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Because of the rising prevalence of peripheral artery disease and chronic limb ischemia, advancements in skin perfusion pressure testing devices have become necessary. Chronic limb ischemia is the most severe form of peripheral artery disease, with high mortality, morbidity, and use of healthcare resources. In limb ischemia, the skin perfusion pressure method for measuring blood flow pressure in the limbs is required for assessing wound healing.
How Can Historic and Future Outlook for Skin Perfusion Pressure Testing Devices Market Be Compared?
The condition known as peripheral artery disease (PAD) affects over 200 million people worldwide. It has a significant impact on the mortality of hemodialysis patients. PAD affects approximately 6.5 million people in the United States who are over the age of 40. The rising prevalence of PAD has fueled the skin perfusion pressure testing market’s expansion.
How is Shift to Non-invasive Procedures Affecting Skin Perfusion Pressure Testing Devices Sales?
In comparison to surgeries, non-invasive procedures have grown in popularity. A laser doppler is a non-invasive method of measuring skin perfusion pressure that is widely used by professionals. Skin perfusion pressure testing has become one of the most reliable methods due to its high reproducibility, accuracy, specificity, and sensitivity.
Non-invasive VMS-VASC system (Moor) Instruments, for example, have been specifically designed to aid micro vascular assessments in a variety of clinical applications and physiological research, including the laser Doppler monitor moorVMS-LDF, low profile fibre optic probe (VP-SPP), and pressure cuff controller moorVMS-PRES.
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Why Innovation is Key to Success in German Medical Device Market?
According to the Federal Statistical Office, healthcare spending in Germany increased by 4% in 2018 over 2017. In 2018, healthcare spending in the country accounted for 11.7% of GDP. Furthermore, health-care spending is expected to rise to 407.4 billion Euros by 2019, creating a fertile ground for the expansion of skin perfusion pressure testing devices.
The presence of companies such as ELCAT GmbH also contributes to the expansion in Germany. The company has made significant investments in its expansion efforts. These companies’ growth strategies are expected to aid in Germany’s expansion.
Since 2009, health insurance has been made mandatory for all citizens of the country. According to National Center for Biotechnology Information (NCBI), a total of 70 million people, which roughly covers 85% of the population are covered by statutory health insurance. Another 11% population of Germany is covered by substitutive private health insurance. Conducive reimbursement policies and regulatory scenario are presenting attractive opportunities for growth.
How is Rising Disposable Income in China Affecting Growth?
Increasing disposable income can have a significant impact on the development of emerging economies, resulting in the affordability of proper healthcare treatment. In 2020, China’s per capita disposable income will be (approximately 4,961 US dollars), more than doubling the level in 2010.
The possibility of high healthcare insurance and rising disposable income will contribute to an increase in healthcare service affordability. This will also improve access to expensive medical equipment for disease treatment. The Chinese market is expected to grow significantly at a CAGR of around 5.4%.
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How Can Players Boost Skin Perfusion Pressure Testing Devices Sales in South Africa?
Both chronic limb ischemia and peripheral artery disease pose serious public health risks. The high prevalence of these diseases is due to a lack of disease awareness and proper treatment. There appears to be less use of these devices in South African hospitals as a result of limited campaigning about disease assessment.
Furthermore, in some countries, inadequate healthcare facilities limit the growth of the skin perfusion pressure testing market. Despite the financial burden, the South African government is implementing a number of initiatives to raise public awareness, which is expected to result in steady market growth.
South Africa’s market is expected to grow slowly, with a CAGR of around 3.8%.
Competitive Landscape
Since laser doppler has gained popularity in wound healing assessment, most medical device companies are currently focusing on designing it.
Moor Instruments, for example, has created the moorVMS-VASC 2.0 laser doppler system.
Furthermore, manufacturers are focusing on getting product approval stamps as well as entering into partnership and collaboration agreements to expand their product portfolio in different countries around the world.
For example, Perimed AB announced FDA approval for PeriFlux 6000 in April 2016.
Some of the leading companies operating in the market are:
- Vasamed Incorporated
- Moor Instruments
- Perimed AB
- ELCAT GmbH
- ATYS Medical
- Viasonix
- Promed Group
Skin Perfusion Pressure Testing Devices Market by Category
Product
- Laser Doppler Skin Perfusion Pressure Testing Devices
- Photoplethysmography Skin Perfusion Pressure Testing Devices
- Consumables
- Pressure Cuff Controller
- Fibre Optic Probe
Modality
- Portable Devices
- Cart-based Devices
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End User
- Hospitals
- Ambulatory Surgical Centers
- Wound Care Centers
- Vascular Laboratories
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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