Incontinence Devices Market Expected to reach a high CAGR of 12.70% during the forecast period 2023-2030:

CLEVELAND, OHIO, USA, December 27, 2022 /EINPresswire.com/ -- Market Overview:

Several products, such as electrical stimulation devices, vaginal slings, urinary catheters, and artificial urinary sphincters, are being launched and used widely by clinics, hospitals, or homecare for controlling the incontinence conditions or diseases like overactive bladder, urge incontinence and overflow incontinences. Incontinence devices are in high demand due to the increasing number of incontinence conditions, huge investments in research and development, and a high rate of product launches.

Market Size Growth Rate:

According to the research report by DataM Intelligence, the global incontinence devices market size was valued at USD YY billion in 2021; it is projected to reach USD YY billion by 2029, with growth at a CAGR of 6.4% over the forecast period 2022-2029.

Incontinence refers to involuntary loss of urine from the bladder (urinary incontinence) or bowel motion, feces, or wind from the bowel (fecal or bowel incontinence). Urinary incontinence is a widespread medical condition that affects 200 million people worldwide. Urinary Incontinence is twice as common in women as in men. Along with novel product launches and technological advances, the rising demand for incontinence devices, owing to rising overactive bladder disease, will further support market trends through 2029.

Market Drivers:

The market has experienced significant growth, ascribed to the growing incidences of bladder diseases globally and rising research and development. The healthcare infrastructure modernization in emerging nations is funded by their governments, which will expand access to healthcare. There is a high need for incontinence devices to control stress, overflow, urge, and functional incontinence. The global market for incontinence devices has attractive potential due to the rise in the frequency of novel product launches and high investment in research and development in emerging nations.

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Market Restraints:

The market for global incontinence devices is hampered by the risks related to incontinence surgery, like the development of an overactive bladder, temporary difficulty urinating, groin pain, urinary tract infection (UTI), and surgical material out into the vagina. These factors may lead to hindering the growth of the market. Lack of awareness among most populations is also a key factor limiting the market’s growth. In low-income countries, people are ashamed of incontinence device usage, and the reimbursement scenarios’ unavailability hinders the market’s growth.

Market Opportunities:

Research and medical experts are developing advanced approaches to improve the outcomes of incontinence devices. The major area of research is the latest technological advancements, such as improved technologies providing better or improved efficacy and results, fewer side effects, and new product launches. Increasing government organization funding in healthcare sectors is boosting the market. Growing investments is helping end-users use novel technologies. Infrastructure development and rising investments are expected to provide huge opportunities for the incontinence devices market. This will provide a lucrative opportunity for the growth of the market.

COVID-19 Impact Analysis:

The health system is under extreme strain due to the COVID-19 pandemic. Prioritizing treating patients with diseases such as urinary incontinence, overactive bladder, and many more, increasing the use of suitable incontinence devices for prevention and treatment of incontinence, enhancing the number of products with more efficacy, and advancing technology for better treatment are a few ways that need to be reorganized in terms of priorities.
Recent Developments in the Industry:

1. In May 9, 2022, Convatec Group Plc announced its $30 million investment in BlueWind Medical, Ltd as a part of a $64 million Series B funding round for BlueWind Medical. Convatec led this round of financing. BlueWind Medical is developing an implantable tibial neuromodulation device, RENOVA iStimTM, for urge incontinence treatment.

2. In November 3, 2020, Coloplast announced its completion of the acquisition of Nine Continents Medical Inc., a company focused on early-stage implantable tibial nerve stimulation treatment for people living with overactive bladder treatment.

Market Segmentation:

According to the research analysis, the global incontinence devices market is segmented by product type as urinary catheters, electrical stimulation devices, vaginal slings, and artificial urinary sphincters. By category, the market is bifurcated into external and internal urinary incontinence devices. By incontinence type, the market is further segmented into stress, urge, overflow, and functional. The market is divided into hospitals, clinics, and home care by end-user.

1. Based on the incontinence type, the urge incontinence segment accounted for the largest market share of around YY% in 2021 and is expected to grow at a CAGR of 12.70% during the forecast period (2022-2029). In urge incontinence, a person may feel an intense and sudden urge to urinate accompanied by involuntary urine loss. The person may feel the need to urinate frequently throughout the night. Urge incontinence is generally caused due to a minor condition, like infection, or any severe condition, including diabetes or a neurological disorder. Major key players are researching and developing several advanced novel technologies and product launches. It is also anticipated that rising bladder disease incidences and FDA product approvals will fuel the global market expansion.

Geographical Classification:

The global incontinence devices market is segmented into major regions: North America, South America, Europe, Asia Pacific, and the Middle East & Africa.
North America Incontinence Devices Market:

This large revenue share is mainly due to the rising investments in research and development and the abundance of highly qualified surgeons, among other things. North America is one of the biggest markets for incontinence devices. This region showcases a significant CAGR owing to the rising adoption and awareness regarding incontinence devices, the increasing prevalence of several bladder diseases such as overactive bladder and many more, and the growing number of advancements combined with the increasing demand for incontinence devices. The significant market share is attributable to the high disease knowledge in the area and the numerous programs initiated to increase awareness about the importance of incontinence devices for the geriatric population, which have expanded the market for these novels and advanced incontinence devices.
Due to the region's growing geriatric population and the increasing number of bladder-associated diseases, which is driving up demand for incontinence devices for stress incontinence, urge incontinence, overflow incontinence, and functional incontinence, Asia Pacific is predicted to have the quickest increase throughout the analyzed period. By 2029, Japan’s market for incontinence devices is anticipated to be worth over YY million dollars. Due to numerous aspiring industry players in the area, the China incontinence devices market is predicted to provide a CAGR of around xx percent, accounting for revenue generation of over USD YY billion by the conclusion of the projected year.

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Competitive Analysis:

However, it is expected to grow rapidly in the next couple of years with intense competition among the players and a rising number of cases. A few key players are already being observed adopting strategies, such as collaboration for developing novel technologically advanced products, which may make the market crowded with new products in the next couple of years.

Major Companies:

Major key companies contributing to the market’s growth are B. Braun Melsungen AG, Medtronic Plc, ConvaTec Inc., BD, Promedon GmbH, Wellspect HealthCare (Dentsply Sirona), Hollister Incorporated, Coloplast Corp, A.M.I. GmbH, and Caldera Medical.

Additional Benefits Post Purchase:

1) Unlimited Analyst support for a period of 1 year.
2) Any query concerning the scope offered will be addressed within 24- 48 hours.
3) An excel sheet with market numbers will be provided separately.

The Full Report has the following insights:

• The report comprehensively evaluates the market in terms of Market Value (US $) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021), and verifiable projections about market size during the forecast period (2022-2029).
• Visualize the composition of the global incontinence devices market segmentation by product type, category, incontinence type, end-user, and region, highlighting the key commercial assets and players.

o By Product Type: Urinary Catheters, Electrical Stimulation Devices, Vaginal Slings, and Artificial Urinary Sphincters
o By Category: External Urinary Incontinence Devices and Internal Urinary Incontinence Devices
o By Incontinence Type: Stress Incontinence, Urge Incontinence, Overflow Incontinence, and Functional Incontinence
o By End-User: Hospitals, Clinics, and Homecare
o By Region: North America, South America, Europe, Asia Pacific, and the Middle East & Africa
• Identify global incontinence devices market commercial opportunities by analyzing trends and co-development deals.
• The report also covers data insights on various industry forces such as porter's five forces analysis, supply chain analysis, and pricing analysis.
• Excel data sheet with thousands of global incontinence devices market-level 4/5 segmentation data points.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players
• The report will provide access to approximately 61 market data tables, 64 figures, and close to 180 pages.

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