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Urinary Incontinence Devices Market 2020 Global Industry Analysis, Size, Share, Growth, Scope, Future Trends, key players Sofradim, B Braun Melsungen AG, Baxter International Inc., Fresenius Medical Care AG.

11-09-2020 06:13 PM CET | Health & Medicine

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Urinary Incontinence Devices Market

Urinary Incontinence Devices Market

The report offers comprehensive analyses of the industry trends; dynamic factors such as drivers, restraints, challenges, & opportunities; competitive landscape; top investment strategies; and key growth strategies. According to the report, the global urinary incontinence devices market was pegged at $1.80 billion in 2017 and is expected to garner $3.41 billion by 2023, registering a CAGR of 11.3% during the forecast period.

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Vaginal slings gain significant traction over the years and preference for vaginal sling procedures among the patients suffering from urinary incontinence has witnessed an increase in recent years. With changes in lifestyle and its complications, the incidence of female stress urinary incontinence has escalated among developed countries boosting the market growth. An increase in investment by manufacturers in the development of single incision vaginal slings such as MiniArc manufactured by American Medical Systems (AMS), and Adjust mini sling manufactured by C.R. BARD will offer lucrative opportunities for the expansion of the market growth.

Stress incontinence segment to lead the market through 2023

The stress incontinence segment held the largest share in 2017, contributing more than half of the total market share, owing to the steep increase in the number of women suffering from urinary incontinence with symptoms of stress incontinence. However, the urge incontinence segment is expected to witness the fastest CAGR of 12.6% during the study period, owing to high prevalence of neurological diseases that leads to urinary tract dysfunction, which eventually leads to urge incontinence. The report analyzes other segments such as overflow incontinence and functional incontinence.

The report elaborately analyzes the drivers, restraints, and opportunities impacting the global urinary incontinence devices industry. The development of innovative urinary incontinence devices and an increase in the aging population coupled with a high risk of urological disorders are the factors that drive the growth of the market. However, lack of awareness regarding novel developments in the urinary incontinence devices and post-operative complications associated with the devices hinder the growth of the industry. Conversely, growing healthcare expenditures in developing economies create growth opportunities for the market.

Internal urinary incontinence devices segment to manifest fastest growth by 2023

Internal urinary incontinence devices segment accounted about two-thirds share of the market, and is expected to register the fastest CAGR of 12.3% from 2017 to 2023. In addition, the external urinary incontinence devices segment would manifest a gradual growth during the study period.

North America to retain largest market share by 2023

North America dominated the global urinary incontinence devices market in 2017, contributing about one-third share of the total revenue. This is attributed to the early adoption of novel urinary incontinence devices along with growing prevalence of stress urinary incontinence among women in this region. However, Asia-Pacific region is expected to register 12.9% CAGR during the forecast period, owing to its high population base, growing disposable incomes, and improvement in patient awareness about advanced urinary incontinence management. The other regions analyzed in the report include Europe and Latin America, Middle East and Africa (LAMEA).

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The key players in the global urinary incontinence devices market are expanding the scope of their business operations in the developing countries by including innovative products in their product portfolios. The report includes a detailed competitive analysis of the major market players, such as Coloplast,

Boston Scientific Corporation

Bard, Inc.

ConvaTec Group Plc

Ethicon, Inc.

Caldera Medical Inc

Cook Medical

Covidien plc (Medtronic)

Prosurg, Inc.

Cogentix Medical Inc.

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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.

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