Urinary Incontinence Device Market by Product
Surge in demand for minimally invasive procedures, and rise in risk of urological disorders drive the global urinary incontinence device market.
PORTLAND, OREGON, UNITED STATES, July 14, 2022 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global urinary incontinence device market was valued at $2,098.65 million in 2020, and is projected to reach $6,179.32 million by 2030, registering a CAGR of 11.8% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Development of innovative urinary incontinence devices, surge in demand for minimally invasive procedures, and rise in risk of urological disorders drive the global urinary incontinence device market. However, lack of awareness regarding novel developments in the urinary incontinence devices, underreported cases of urinary incontinence, and post-operative complications associated with the devices hinder the market growth. On the other hand, increase in healthcare expenditures in the developing countries present new opportunities in the coming years.
COVID-19 is a large family of viruses that causes illness ranging from common cold to more severe respiratory diseases. The COVID-19 pandemic has limited the industry growth significantly, as the demand for urinary incontinence device decreased owing to decline in diagnostics and surgical procedures in the first half of 2020. According to the study published in the British Journal of Surgery, around 28.4 million elective procedures were cancelled or postponed in May 2020, based on a 12-week period of peak disruption to hospital services due to COVID-19. Thus, the outbreak of COVID-19 has negatively impacted the urinary incontinence device market.
Covid-19 Scenario:
Outpatient clinics for female urinary incontinence, infertility and sexual medicine, benign prostatic hyperplasia, renal stone, benign scrotal conditions, and bladder stone were affected significantly.
In 2020, there was a considerable reduction in different types of outpatient tests and surgical treatments for female urinary incontinence, kidney stones, infertility, and bladder stones. These treatments had the greatest rates of cut-down services. In addition, many market players underwent a revenue drop in the urology platform.
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By end user, the hospital segment dominated the global urinary incontinence device market in 2020 and is anticipated to continue this trend during the forecast period. This was attributed to the fact that, urinary incontinence most commonly affects women and the prevalence is high among hospitalized older adults. Thus, hospitals have displayed maximum adoption of the urinary incontinence devices a lot of patients suffering from chronic conditions or pregnancy are associated with urinary incontinence.
KEY FINDINGS OF THE STUDY
By device, the vaginal slings segment held largest share in the global urinary incontinence device market in 2020.
By category, the internal urinary incontinence devices segment held largest share in the global urinary incontinence device market in 2020.
By incontinence type, the stress incontinence segment held the largest market share in 2020 and is expected to remain dominant throughout the forecast period.
By end user, the hospital segment dominates the global urinary incontinence device market in 2020 and is anticipated to continue this trend during the forecast period.
By region, North America is expected to experience growth at the highest rate, registering a CAGR of 10.80 % during the forecast period.
The North American urinary incontinence devices market accounted for the highest market share and is expected to continue its dominance throughout the forecast period. This is primarily due to the early adoption of novel urinary incontinence devices along with increase in prevalence of stress urinary incontinence among women in this region. Whereas, Asia-Pacific is anticipated to grow at the fastest pace as high geriatric population base (more susceptible to urinary incontinence) is witnessed in this region.
Based on region, North America held the highest share in 2020, contributed to more than one-third of the total share, and is projected to continue its lead position by 2030. However, Asia-Pacific is projected to portray the largest CAGR of 13.1% during the forecast period.
Leading players of the global urinary incontinence device market analyzed in the research include
Becton
Dickinson and Company (C.R. Bard Inc.)
Caldera Medical
Boston Scientific Corporation
ConvaTec Group plc.
Coloplast A/S
Johnson & Johnson (Ethicon Inc.)
Cook Group Inc. (Cook Medical Inc.)
Medtronic plc.
Laborie Medical (Cogentix Medical Inc.)
Teleflex Incorporated.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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