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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The increasing prevalence of peripheral artery disease and chronic limb ischemia has necessitated advancements in skin perfusion pressure testing devices. Chronic limb ischemia is the most advanced form of peripheral artery disease, resulting in mortality, morbidity, and extensive use of healthcare resources. The skin perfusion pressure method for checking blood flow pressure in the limbs is required for assessing wound healing in limb ischemia.
How Can Historic and Future Outlook for Skin Perfusion Pressure Testing Devices Market Be Compared?
Peripheral artery disease (PAD) is a progressive condition that affects over 200 million people worldwide. It has a significant impact on hemodialysis patient mortality. PAD affects approximately 6.5 million people in the United States aged 40 and up. The rising prevalence of PAD has fueled the growth of the skin perfusion pressure testing market.
How is Shift to Non-invasive Procedures Affecting Skin Perfusion Pressure Testing Devices Sales?
Non-invasive procedures have continued to grow in popularity as compared to surgeries. The measurement of skin perfusion pressure by a laser doppler is a non-invasive method that is widely used by professionals. Due to high reproducibility, accuracy, specificity, and sensitivity, skin perfusion pressure testing has become one of the soundest methods.
For instance, non-invasive VMS-VASC system (Moor) Instruments), including the laser Doppler monitor moorVMS-LDF, low profile fibre optic probe (VP-SPP), and pressure cuff controller moorVMS-PRES have been specifically designed to aid micro vascular assessments in a variety of clinical applications and physiological research.
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Why Innovation is Key to Success in German Medical Device Market?
The Federal Statistical Office has reported that healthcare spending in Germany rose by 4% in 2018 from 2017. In 2018, the country’s healthcare spending accounted for 11.7% of the GDP. Furthermore, health expenditure was expected to surge to 407.4 billion Euros by 2019, presenting a lucrative landscape for the expansion of the skin perfusion pressure testing devices.
Also presence of companies such as ELCAT GmbH is supporting the expansion in Germany. The company has been investing significantly in expansion efforts. Growth strategies adopted by these companies are expected to aid the expansion in Germany.
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 significant impact in development of economy in emerging countries which results in affordability of proper healthcare treatment. China’s per capita disposable income reached (about 4,961 U.S. dollars) in 2020, more than double the level in 2010.
Potential for high healthcare insurance and rising disposable income will contribute to increase in affordability of healthcare services. This will also allow improved accessibility to expensive equipment for treatment of diseases. The market in China is expected to witness significant growth at a CAGR of around 5.4%.
How Can Players Boost Skin Perfusion Pressure Testing Devices Sales in South Africa?
Both chronic limb ischemia and peripheral artery disease impose serious threats to the population. Lack of awareness of diseases and lack of proper treatment leads to high prevalence of these diseases. Due to limited campaigning about the assessment of these diseases, there seems to occur less usage of these devices in hospitals in South Africa.
Moreover, poor healthcare facilities in some countries restrain the growth of the skin perfusion pressure testing market. Despite financial burden, government in South Africa is adopting various initiatives to spread create awareness among population, which is expected to enable steady growth in the market.
The market in South Africa is expected to witness sluggish growth at a CAGR of just around 3.8%.
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Competitive Landscape
Most of the medical device companies are currently focusing on designing laser doppler since it has gain much popularity in assessment of wound healing.
For example, Moor Instruments has design moorVMS-VASC 2.0 laser doppler system.
Moreover, the manufactures are focusing on getting stamp of approvals for their product and also entering into partnership and collaboration agreement to expand their product portfolio in different countries globally.
For instance, in April 2016, Perimed AB announced FDA approval for PeriFlux 6000.
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
End User
- Hospitals
- Ambulatory Surgical Centers
- Wound Care Centers
- Vascular Laboratories
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