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Vaginal Sling Global Market Growth Opportunities, Emerging Trends, Industry Analysis And Global Forecast 2024 To 2033 | etatech Medical Inc., Boston Scientific Corporation, Caldera Medical Inc., Coloplast A/S
Vaginal Sling Market
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According to The Business Research Company's, The vaginal sling market size has grown strongly in recent years. It will grow from $1.4 billion in 2023 to $1.53 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to increasing prevalence of stress urinary incontinence, advancements in surgical techniques, rising aging population, regulatory approval, healthcare infrastructure development.
The vaginal sling market size is expected to see strong growth in the next few years. It will grow to $2.14 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to growing demand for minimally invasive procedures, increasing healthcare expenditure, expanding geriatric population, patient preference for outpatient procedures, increasing awareness through marketing initiatives. Major trends in the forecast period include technological advancements, product innovations, minimally invasive procedures, global expansion and market penetration, patient-centric approaches.
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Market Drivers and Trends:
Growing expenditure for the healthcare sector is expected to propel the growth of the vaginal sling market going forward. Healthcare expenditure is the total cost of health care (including both public and private spending) expressed as a percentage of GDP. The rise in healthcare expenditure contributes significantly to the growth of the vaginal sling market by fostering an environment of innovation, accessibility, education, and improved quality of care for individuals seeking treatment for stress urinary incontinence. For instance, in March 2022, according to the 2021-2030 National Health Expenditure (NHE) report published by the Centers for Medicare & Medicaid Services, a US-based federal agency, the projected growth indicates that, on average, national health spending is expected to increase by 5.1% annually between 2021 and 2030, reaching a total of nearly $6.8 trillion. Additionally, it is anticipated that from 2021 to 2030, Medicare spending is going to rise at a 7.2% annual pace while Medicaid spending will rise at a 5.6% annual rate. Therefore, growing expenditure for the healthcare sector is driving the growth of the vaginal sling market.
Major companies operating in the vaginal sling market are adopting a strategic partnership approach to bring specific focus to urogynecology and female urology. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in September 2021, UroCure, a US-based healthcare company, partnered with LiNA Medical USA, a US-based medical device company. This collaboration in distribution and product development capitalizes on the strengths of both UroCure and LiNA, combining UroCure's ArcTV sling and growing women's health portfolio with LiNA's dedicated US national sales force and specialized device solutions in urogynecology and female urology. Additionally, LiNA Medical and UroCure are collaborating to create a comprehensive range of surgical solutions for female stress incontinence. The inaugural product from UroCure, the ArcTV sling, is a medical device crafted to alleviate the impact of stress urinary incontinence in women.
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Major Key Players of the Market:
Betatech Medical Inc., Boston Scientific Corporation, Caldera Medical Inc., Coloplast A/S, B. Braun Melsungen AG, Promedon GmbH, ABISS Pty Ltd., Lotus Surgicals Pvt. Ltd., American Medical Systems Holdings Inc., UroCure LLC, Neomedic International Ltd., Ethicon Inc., C. R. Bard Inc., Medtronic plc, Agency for Medical Innovation, Abiss Analytic Biosurgical Solutions, Cook Group Incorporated, Sofradim Production SAS, Medesign Pharmaceuticals Private Limited, MedGyn Products Inc., Medica Europe BV, Medline Industries Inc., Organogenesis Holdings Inc., Prosurg Inc., Degania Medical Devices Pvt. Ltd., Regeneration Technologies Inc., SRS Medical Systems, Teleflex Inc., Uroplasty Inc., Urotech Co. Ltd., Urovision Diagnostics & Research Centre Private Limited, W.L. Gore & Associates Inc., Zimmer Biomet Holdings Inc., Johnson & Johnson Services Inc., CooperSurgical Inc., Endo International plc
Vaginal Sling Market 2024 Key Insights:
• The vaginal sling market size is expected to see strong growth in the next few years. It will grow to $2.14 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
• Impact Of The Growing Female Geriatric Population On The Vaginal Sling Market
• Strategic Partnerships In The Vaginal Sling Market For Urogynecology And Female Urology
• North America was the largest region in the Vaginal Slings market in 2023
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