Press release
Vaginal Slings Market to Record an Exponential CAGR by 2023
Global Vaginal Slings Market report it provides a vital recent industry data which covers in general market situation along with future scenario for industry around the Globe. It also consists of major data along with forecasts of a global market along with the clear presentation of diagrams (charts and tables).Vaginal Slings Market is projected to reach $1,626 million by 2023, growing at a CAGR of 14.5%. The conventional vaginal slings accounted for a three-fifths share of the global market in 2016.
Vaginal sling procedures have witnessed an increase in demand owing to the rise in preference for the treatment of urinary incontinence. Women suffering from severe urinary incontinence lose bladder control and are hence advised to undergo vaginal sling surgeries. Women suffering from urinary incontinence experience urine leakage after coughing or sneezing, and severe urinary incontinence affects the patients' daily life, where vaginal sling procedure becomes essential.
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The major companies profiled in the report include
o Coloplast
o Boston Scientific Corporation
o C. R. Bard Inc.
o Ethicon Inc.
o American Medical Systems
o Caldera Medical
o Cook Medical
o Covidien (Medtronic)
o Prosurg Inc.
o Cogentix Medical
The rise in the number of women experiencing urinary incontinence, especially stress urinary incontinence across the globe is set to propel the market growth. In addition, the soaring female geriatric population boosts the market growth. Moreover, an increase in developments pertaining to materials utilized in constructing advanced vaginal slings supplements the growth of the market.
However, lack of awareness among patients regarding vaginal sling procedures hampers the market growth. Moreover, an increase in technological advancements regarding vaginal slings offer profitable opportunities for the expansion of the market.
The vaginal slings utilized in other medical settings such as gynecological centers and ambulatory surgical centers have recorded a significant growth rate from 2017 to 2023 and are attributed to the increase in preference for the same by patients.
In addition, hospitals have accounted for approximately half of the share of the global vaginal slings market in 2016 and are anticipated to do so throughout the forecast period. Hospitals adopt advanced vaginal slings at the earliest as compared to clinics, and ambulatory surgical centers which increase the number of vaginal sling surgeries performed in the hospitals.
Asia-Pacific witnessed the highest growth rate for the vaginal slings market throughout the forecast period. Asia-Pacific serves to be an emerging market with a high population density, a rise in disposable income, and an increase in healthcare expenditure. In addition, the increase in the incidence of urinary incontinence in China and India boosts market growth.
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The key players operating in the vaginal slings market have adopted type launch as one of their key developmental strategies, among many others such as business expansion, type development, and business acquisition.
Key Findings Of The Vaginal Slings Market:
o The clinics' segment holds the second position among the end-users of vaginal sling market in 2016 and is expected to grow at a CAGR of 14.7% from 2017 to 2023.
o North America dominated the global vaginal sling market, accounting for a maximum share of the overall market in 2016, and is anticipated to do so throughout the forecast period.
o India is the fastest-growing country of the Asia-Pacific vaginal sling market during the forecast period.
o The advanced vaginal slings are anticipated to grow at the fastest rate registering a CAGR of 16.0% from 2017 to 2023.
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