Global Urinary Slings Market to grow at a CAGR of 10.12% during the period 2017-2021

Summary

Orbis Research Inclusive Report: Global Urinary Slings Market 2017-2021 which Examine into the present trends, highlights the recent market growth, sales volume, Demand Scenarios and Opportunities emerging for business players in the near future.

Description

Trending Research Report – Global Urinary Slings Market 2017-2021

The Following Companies as the Key Players in the Global Urinary Slings Market: C. R. Bard, Boston Scientific, American Medical Systems, and Coloplast.

Other Prominent Vendors in the market are: Caldera Medical, Cook Medical, Ethicon US, ProSurg, Sofradim, and Cogentix Medical.

Commenting on the report: “One trend in market is improving reimbursement policies. Urinary incontinence care management products are generally costly, requiring patients to spend substantially on its treatment. This can be an economic burden, as many insurance policies do not cover such products. Globally, countries are framing reimbursement policies for urinary sling procedures. For example, developed countries, such as the US, provide insurance cover for these products that is likely to create more demand for urinary slings as more people will be able to afford urinary sling surgeries. Over the past few years, there has been a favorable upgrade in Medicare (the official website of the US Government for medical health-related information) reimbursement in the US. Medicare pays physicians for services based on the submission of a claim using one or more specific Current Procedural Terminology (CPT) codes. Each CPT code has a Relative Value Unit (RVU) assigned to it, which when multiplied by the conversion factor and a geographical adjustment creates the compensation rate for a particular service.”

According to the report, one driver in market is rise in geriatric population. A rising concern worldwide is the aging population in major countries, such as Japan, South Korea, China, Germany, and the US. An aging population means an increase in the number of people suffering from a wide range of chronic diseases, some that cause urinary incontinence. With an increase in aging population, there is also an increase in the number of urinary incontinence cases that requires proper treatment, such as urinary sling surgeries, and this provides a massive opportunity for the vendors in the market. The global adult incontinence market has grown by over 40% in the last five years, which propels the demand for developing innovative urinary slings that can ease the handling of the medical condition faced by the elderly population.

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Further, the report states that one challenge in market is side effects. Over the years, concerns have been raised over the use of urinary incontinence products, such as urinary slings, as they have caused several side effects that can affect the general health of users. There are several cases of complications that have been reported with regard to the urinary sling procedure, some of them including severe pelvic or genital pain, nerve damage, fistulas, and degrading of the mesh. Key vendors in the market have faced severe criticisms and lawsuits denting their image in the market to some extent. For example, In January 2016, Johnson & Johnson, a medical device provider, agreed to pay more than $120 million to resolve 2,000-3,000 lawsuits by women who alleged that they suffered organ damage and were left in constant pain after using the company’s mesh surgical inserts that eroded in their bodies. Likewise, in 2016, Boston Scientific, a provider of medical devices, also announced that it would make a settlement of $119 million to settle claims for around 3,000 women injured by its bladder sling and vaginal mesh products.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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