The rising incidence of end-stage renal diseases is underscoring the need for effective pelvic floor stimulators, which in turn in is creating prospects for pelvic floor stimulators market growth.
As per a recent analysis by ESOMAR-certified consulting firm Future Market Insights (FMI), the market is poised to expand at 8.8% CAGR, reaching US$ 274.9 Mn by 2031.
Increasing cases of diabetes and hypertension are major factors contributing to alarming rise in prevalence of urinary incontinence. To offer optimal treatment solutions, manufacturers are focusing on intensive research and development. This in turn is driving innovations in the pelvic floor stimulators market.
In 2020, the unprecedented novel coronavirus outbreak caused disruptions in the supply chains, delaying administration of several clinical procedures. However, sale of pelvic floor stimulators held its ground due to active online consultation provided by physiotherapists and medical experts.
Urinary incontinence can also be caused due to childbirth, pregnancy, and menopause, which is highly prevalent across several countries. Pelvic floor stimulators are non-invasive treatments that stimulate muscle pathways with minimal patient involvement. These factors testify to the growing demand for pelvic floor stimulators.
Besides this, incorporation of telehealth technologies to facilitate pelvic floor care will boost sales in the market. These services offered by medical professionals and hospitals are intended to offer improved patient care, helping them choose the right products that align with their treatment. These factors will enable growth in the market through 2031.
As per FMI, the pelvic floor stimulators market is anticipated to register high growth in the U.S. Investment towards research and development besides presence of a sophisticated healthcare infrastructure will seal the country’s dominance in North America.
“Besides focus on strategic collaborations, market players are keen on approval of their products for over the counter sales and home use. Considering this, focus on innovations will continue increasing, as they aim for competitive advantage,” says the FMI analyst.
- Sales of electric pelvic floor stimulators will gain momentum at 9.1% CAGR over the assessment period.
- In terms of application, urinary incontinence will account for the maximum share of 76% in the market.
- Demand in hospitals will rise at a CAGR of 9.2% through the course of the assessment period.
- The U.S. will dominate the pelvic floor stimulators market, accounting for over 76% of demand in North America.
- Rapid adoption of technological advancements will enable the U.K. to exhibit high demand. Sales in the U.K. is forecast to rise at 8.7% through 2031.
- Government-backed investments towards expansion and modernization of the healthcare sector will encourage sales of pelvic floor stimulators.
- Increasing per capita expenditure on healthcare and willingness to spend on advanced procedures will create growth prospects.
- Product innovations to facilitate application in home care will back sales registered through the assessment period.
- Inadequate healthcare reimbursement policies in emerging economies may hamper sales in the market.
- High cost, coupled with lack of awareness regarding urinary incontinence might have a negative impact on sales.
As per FMI’s analysis, top players operating in the pelvic floor stimulators market are aiming at strategic partnerships and collaborations to develop highly efficient products. Key players are also focusing on new product launches, expansions, and improvements in distribution channels for a wider geographical reach. For instance:
- In March 2019, InControl Medical received FDA approval for its first over-the-counter non-implantable muscle stimulator. The product is particularly intended to be used at home for women dealing with stress and urinary incontinence.
- In August 2020, Pelvital announced FDA clearance for its new Flyte intravaginal device intended for home use.
Leading players operating in Pelvic Floor Stimulators Market profiled by FMI include:
- Medtronic Plc
- Atlantic Therapeutics
- Laborie Inc.
- The Prometheus Group
- Everyway Medical Instruments Co., Ltd.
- KayCo 2 Ltd.
- InControl Medical Ltd.
- Tic Medizintechnik GmbH
- Shenzhen XFT Medical Ltd.
- Chiaro Technology Ltd.
- Zynex Inc.
- Utah Medical Products, Inc.
- Verity Medical Ltd.
More Insights on FMI’s Pelvic Floor Stimulators Market
The latest market study on the pelvic floor stimulators market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
- Electrical stimulators
- Magnetic Stimulators
- Urinary Incontinence
- Sexual Dysfunction
- Neurodegenerative Diseases
- Ambulatory Surgical Centers
- Specialized clinics
- Homecare setting
- North America
- Latin America
- East Asia
- South Asia Pacific
- Middle East and Africa
For information on the Research Approach used in the Report, Request Methodology@ https://www.futuremarketinsights.com/ask-question/rep-gb-13187
Key Questions Covered in Pelvic Floor Stimulators Market Report
- The report offers detailed insights into pelvic floor stimulators market demand outlook for 2021-2031
- The market study also highlights projected sales growth for pelvic floor stimulators market between 2021 and 2031
- Pelvic floor stimulators market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Pelvic floor stimulators market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others