Urinary incontinence device market Value To Cross $6.2 Billion By 2030, Grow at a CRGR 11.8%

Global urinary incontinence device market was valued at $2.1 billion in 2020 and is projected to reach $6.2 billion by 2030 registering a CAGR of 11.8%

PORTLAND, OREGON, UNITED STATES, December 21, 2021 /EINPresswire.com/ -- According to the report by Allied Market Research, titled, "Urinary Incontinence Device Market by Product (Urinary Catheters, Vaginal Slings, Electrical Stimulation Devices, Artificial Urinary Sphincters, and Other Devices), Category (External Urinary Incontinence Devices and Internal Urinary Incontinence Devices), Incontinence Type (Stress Incontinence, Urge Incontinence, Overflow Incontinence, and Functional Incontinence), and End User (Hospitals, Clinics, and Other): Global Opportunity Analysis and Industry Forecast, 2021–2030.". The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

The global Urinary Incontinence Device Market generated $2.09 billion in 2020, and is estimated to reach $6.17 billion by 2030, witnessing a CAGR of 11.8% from 2021 to 2030.

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Comprehensive competitive analysis and profiles of major market players, such as

Becton
Dickinson and Company (C.R. Bard Inc.)
Caldera Medical
Boston Scientific Corporation
ConvaTec Group plc.
Coloplast A/S
Johnson & Johnson (Ethicon Inc.)
Cook Group Inc. (Cook Medical Inc.)
Medtronic plc.
Laborie Medical (Cogentix Medical Inc.)

Development of innovative urinary incontinence devices, surge in demand for minimally invasive procedures, and rise in risk of urological disorders drive the global urinary incontinence device market. However, lack of awareness regarding novel developments in the urinary incontinence devices, underreported cases of urinary incontinence, and post-operative complications associated with the devices hinder the market growth. On the other hand, increase in healthcare expenditures in the developing countries present new opportunities in the coming years.

Development of innovative urinary incontinence devices and rise in demand for minimally invasive procedures, increase in aging population coupled with high risk of urological disorders, and rise in shift from conventional solutions to novel urinary incontinent products are some factors which drive the growth of the market. Furthermore, growth in healthcare expenditures in the developing economies create a lucrative opportunity for market growth.

Urinary incontinence is a highly prevalent condition and is considered to be an underreported problem that increases with age that affects nearly 50% of the geriatric population. It is categorized into four major types namely stress urinary incontinence, urge urinary incontinence, mixed urinary incontinence, and functional urinary incontinence. Stress urine leakage is associated with increased abdominal pressure from laughing, sneezing, coughing, climbing stairs, or other physical factors that assert stress on the abdominal cavity. Whereas, urge incontinence is the involuntary leakage accompanied by urgency. Among the four above mentioned types of urinary incontinence; stress and urge are commonly prevalent among men and women.

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Based on end user, the hospitals segment accounted for the highest share in 2020, contributing to around half of the global urinary incontinence device market, and is expected to continue its dominant share in terms of revenue during the forecast period. However, the clinics segment is estimated to witness the fastest CAGR of 12.3% from 2021 to 2030.

Based on region, North America held the highest share in 2020, contributed to more than one-third of the total share, and is projected to continue its lead position by 2030. However, Asia-Pacific is projected to portray the largest CAGR of 13.1% during the forecast period.

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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.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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