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Urinary Incontinence Devices Market boost due to Rise in preference for surgical treatment of urinary incontinence to ensure early cure.

04-12-2019 03:06 PM CET | Health & Medicine

Press release from: Allied Market Research

Urinary Incontinence Devices Market boost due to Rise

According to a new report published by Allied Market Research, titled, Urinary Incontinence Devices Market by Product, Category, Incontinence Type, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023, the urinary incontinence devices market was valued at $1,611 million in 2016, and is projected to reach $3,411 million by 2023, growing at a CAGR of 11.3% from 2017 to 2023. The internal urinary incontinence devices segment accounted for a three-fifths share of the market in 2016.

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Urinary incontinence is a highly prevalent condition and is considered to be an underreported problem that increases with age that affects nearly 50% of the geriatric population. Urinary incontinence is categorized into four major types namely stress urinary incontinence, urge urinary incontinence, mixed urinary incontinence, and functional urinary incontinence. Stress urine leakage is associated with increased abdominal pressure from laughing, sneezing, coughing, climbing stairs, or other physical factors that assert stress on the abdominal cavity. Whereas, urge incontinence is the involuntary leakage accompanied by urgency. Among the four above mentioned types of urinary incontinence, stress and urge are most commonly prevalent among men and women.

Urinary incontinence has a major impact on the emotional, psychological, and social life; the maximum number of patients suffering from urinary incontinence cannot perform regular activities confidently. This propels the development of effective solutions for the treatment of the same. According to the Urology Care Foundation, a quarter to a third of men and women in the U.S. suffer from urinary incontinence per year. This also indicates that approximately 33 million of the U.S. residents have an overactive bladder that represents symptoms of urgency and frequency leading to the urge in the usage of urinary incontinence devices.

Some of the other factors responsible for substantial market growth include the development of innovative urinary incontinence devices, increase in aging population coupled with the high risk of urological conditions, an increase in the urinary incontinent patients transitioning from conventional solutions to advanced surgical treatments. Factors such as lack of awareness regarding novel developments in the urinary incontinence devices and post-operative complications associated with the devices restrict the market growth to a certain extent. Moreover, growth in healthcare expenditures in the developing economies offers lucrative opportunities for the market players to invest in these economies.

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Vaginal slings generated the highest revenue in 2016, accounting for about two-fifths of the total market. This is attributed to the high contribution of the conventional vaginal slings in the vaginal slings market owing to the high preference for the use of biomaterials in the surgical treatment of incontinence. Advancements in the conventional vaginal slings assist in eliminating the post-operative complications associated with the vaginal sling surgeries and several key players are developing conventional slings using advanced synthetic materials to meet the patient's requirement. In addition, the advanced vaginal slings have witnessed increased adoption in the surgical treatment of urinary incontinence among women owing to their minimally invasive nature.

Based on incontinence type, stress incontinence generated the highest revenue in 2016 accounting for about half of the total share of the market and is anticipated to continue this trend throughout the forecast period. Pregnancy, as well as childbirth, resulting in the stretching and weakening of a woman's pelvic floor muscles which causes stress urinary incontinence. In addition, prostate surgeries in men can also result in stress urinary incontinence. This has made stress urinary incontinence the most prevalent conditions among men and women.

Key Findings of the Urinary Incontinence Devices Market:
The Internal urinary incontinence devices segment generated the highest revenue in 2016 and is anticipated to do so throughout the forecast period, registering a CAGR of 12.3% from 2017 to 2023.
Hospitals dominated the end user market, accounting for maximum share in the global market in 2016 and is expected to witness a CAGR of 10.1% from 2017 to 2023.
North America dominated the market, accounting for maximum share in 2016 and is expected to retain the same trend from 2017 to 2023.
Japan accounted for a two-sevenths share of the Asia-Pacific urinary incontinence devices market in 2016.

Asia-Pacific is expected to witness the highest growth rate for urinary incontinence devices market throughout the forecast period. Asia-Pacific offers lucrative opportunities for players that operate in the urinary incontinence devices market due to its high population base, growth in disposable incomes, and improvement in patient awareness about advanced urinary incontinence management. Japan, India, and China are among the leading countries for prevalence of urinary incontinence in Asia-Pacific, which further contributes to the robust growth displayed by this region in the global market

The key players in this market have adopted product launch as one of their key developmental strategies such as acquisitions and product launches. The major companies profiled in this report include Coloplast, Boston Scientific Corporation, C. R. Bard, Inc., ConvaTec Group Plc, Ethicon, Inc., Caldera Medical Inc, Cook Medical, Covidien plc (Medtronic), Prosurg, Inc., and Cogentix Medical Inc. Other players (profiles not included in the report) in the value chain analysis include, Sofradim, B Braun Melsungen AG, Baxter International Inc., Fresenius Medical Care AG & Co. KGaA, Karl Storz GmbH & Co. KG, Nipro Corporation, Olympus Corporation, ABISS, and Betatech Medical.

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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 domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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