Replacement Sheets Market to Grow by 4.6% CAGR as Nearly Three-Tenth of Sales to be Contributed by Hospitals: FMI
Future Market Insights, in its new offering, presents a detailed analysis of the global replacement sheets market for the forthcoming decade. The study analyzes crucial trends that are currently determining the growth of the replacement sheets market. This report explicates vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders.
DUBAI, UAE, Oct. 14, 2021 /PRNewswire/ -- Replacement sheets demand grew at a steady 4.5% CAGR in 2021, opines Future Market Insights in its latest report. Rising prevalence of hospital acquired infections and increasing number of surgeries are set to drive growth in the Replacement Sheets Market.
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Growing rate of critical surgeries such as caesarean and other invasive procedures is propelling the sales of replacement sheets. Need to reduce the risk of infection and transmission of infectious bacteria, medical professionals use replacement sheets to ensure the patient safety.
On the back of these aforementioned factors, the global replacement sheets market is expected to grow at a steady 4.6% CAGR between 2021 and 2031.
Demand for replacement sheets grew at an average 4.3% CAGR between 2016 and 2020. With increasing expenditure on healthcare infrastructure and growing demand for medical handling equipment within hospitals, demand for replacement sheets increased.
Unprecedented outbreak of COVID-19 impacted the global replacement sheets market positively. As the number of surgical procedures increased related to COVID-19 and other diseases, demand for replacement sheets remained steady during the FQ-20.
With expedited vaccination drives and increasing surgical procedures, key players collaborated with online retail channels to meet the unceasing demand for replacement sheets within hospitals. As per FMI, sales of replacement sheets grew exponentially across emerging economies including, China, India, and Japan.
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"Increasing demand for replacement sheets within hospitals and ambulatory surgical centers have compelled the key players to introduce affordable and improved quality products. Hence, to necessitate the growing demand, leading healthcare companies are actively investing in research activities to meet the surging requirements. This is expected to create immense scope for market players," says the FMI analyst.
Key Takeaways from Replacement Sheets Market Survey
- In terms of product type, turn sheet for over 59% of the total market share owing to increasing number of surgeries and hospitalization
- Hospitals are expected to be the primary end-user for replacement sheets, accounting for more than 28% of total market share
- The U.S. will lead the growth of North America replacement sheets market, contributing over 81% of total market revenue
- The replacement sheets market in Germany will exhibit robust growth at 5.3% CAGR during the forecast period
- Rising prevalence of hospital-acquired infections in the U.K. will result in high sales of replacement sheets market, with the market totaling US$ 2.7 Mn in 2021
- China will account for over 50% of total market share in East Asia in 2021.
Key Drivers
- Growing prevalence of hospital-acquired infections and rising number of surgical procedures will fuel the demand for replacement sheets
- Increasing research and development activities to improve the product quality will create incremental growth opportunities for key players.
Key Restraints
- Dearth of skilled medical professionals and assistance will hamper the sales of replacement sheets as inability to handle the replacement sheet can result in infection transmission
- High cost associated with the repositioning devices and replacement sheets is the major factor expected to restraint the growth in the market.
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Competitive Landscape
Prominent players operating in the replacement sheets market are focusing on expanding their product portfolio. Key players are strategizing by launching new higher quality products to generate new proceedings.
In order to expand their global reach, key players are collaborating and forming partnerships with end-users and other key players, especially in emerging economies. Additionally, leading companies are also focusing on product development to deliver convenient and safe options for the patients.
- Recently, HoverTech International, in 2018, announced the launch of HoverSling repositioning sheet to provide caregivers to use one product for all patient handling tasks.
Some of the prominent players operating in the replacement sheets market profiled by FMI are:
- Hill-Rom Services, Inc.
- Etac AB
- HoverTech International
- EHOB Inc.
- Vendlet ApS
- Arjo- Getinge Group
- Stryker Corporation.
More Insights on the Global Replacement Sheets Sales Outlook
FMI provides an unbiased analysis of replacement sheets market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for replacement sheets with a detailed segmentation on the basis of:
Product:
- Slide Sheet
- Disposable Slide Sheets
- Reusable Slide Sheets
- Turn Sheet
- Disposable Turn Sheets
- Reusable Turn Sheets
- Air Transfer Gliding Sheets
End-User:
- Hospitals
- Ambulatory Surgery Centers
- Long Term Care Centers
- Skill Nursing Facilities
- Assisted Living Facilities
- Others
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
Key Questions Covered in the Replacement Sheets Sales Outlook Report
- The report offers insight into replacement sheets demand outlook for 2021-2031
- The market study also highlights projected sales growth for replacement sheets market between 2021 and 2031
- Replacement sheets market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Replacement sheets market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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