PUBLISHER: Polaris Market Research | PRODUCT CODE: 1463040
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1463040
The global Urinary Incontinence Device Market size is expected to reach USD 6,607.02 Million by 2032, according to a new study by Polaris Market Research. The report "Urinary Incontinence Device Market Share, Size, Trends, Industry Analysis Report, By Product (Urinary Catheters, Foley Catheters, Advanced Vaginal Slings, Electrical Stimulation Devices, Artificial Urinary Sphincters, Other Devices); By Category; By Incontinence Type; By End-Use; By Region; Segment Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
A product or medical equipment intended to treat or manage urine incontinence, the accidental leakage of urine, is known as a urinary incontinence device. These gadgets are designed to protect, support, or help regulate the function of the bladder.
The aging population, increasing prevalence of chronic disease, rising healthcare awareness, growing healthcare expenditure, and other factors drive the market growth over the forecast period. The increasing geriatric population over the globe and the increasing heart disorders that lead to paralysis, brain strokes, increasing accidental rates, and other chronic diseases are increasing enormously; hence, the use of urinary incontinence devices is rising and is seen to be the most used device in the future.
However, the consumption of alcohol, smoking, and other substances is increasing among the adult population globally, which leads to hypertension, memory loss, depression, and even bed rest, resulting in increasing demands for urinary incontinence devices in the future. It may result in an expansion of the market over the period. Almost the manufacturing cost of surgical products is less, and they are sold with a greater profit margin. Hence, the revenue share is expected to grow exponentially.
Furthermore, manufacturers are increasingly focusing on patient-centric design, considering factors such as comfort, discretion, and ease of use. This approach enhances patient satisfaction and adherence to treatment plans.
The overall increase in healthcare expenditure, both by individuals and healthcare systems, allows for greater accessibility to advanced incontinence management solutions. This includes funding for research and development, as well as reimbursement for these devices. Medical devices are becoming more widely accepted as components of comprehensive healthcare solutions. Government initiatives focused on promoting public health and addressing issues related to incontinence contribute to market growth. Supportive policies, awareness campaigns, and subsidies can stimulate demand for these devices.
The urinary catheters segment held the largest revenue share in 2023. Chronic health conditions, such as spinal cord injuries, multiple sclerosis, and certain neurological disorders, often lead to urinary incontinence. Urinary catheters serve as essential tools in managing incontinence in individuals with these chronic conditions, contributing to the prominence of the catheter segment.
The hospital segment is projected to grow at the fastest CAGR during the projected period. These are primary settings for surgical interventions related to urinary incontinence. Certain advanced urinary incontinence devices, such as implants or slings, may be recommended and implanted through surgical procedures. The demand for such interventions can contribute to the growth of the urinary incontinence device market within the hospital setting.
In 2023, North America dominated the largest market due to the high prevalence of chronic diseases, including hypertension and kidney failure, which drives the demand for urinary incontinence devices. Additionally, the region has a well-established healthcare infrastructure and advanced medical technologies, allowing for the widespread adoption and utilization of devices.
The Asia-Pacific region is anticipated to grow at the fastest CAGR during the forecast period due to local vendors' active development of technologically advanced and competitively priced devices. It focuses on addressing the market's needs that have contributed to increased market share. The availability of high-quality and affordable devices from local vendors has been a key driver of growth in the region.
The global key market players include ConvaTec Group plc, Coloplast A/S, Laborie Medical, Caldera Medical, Becton Dickinson and Company, Johnson & Johnson, Boston Scientific Corporation, Biospace.
Polaris Market Research has segmented the urinary incontinence device market report based on product, category, incontinence type, end-use, and region: