The global pelvic floor stimulators market is on the brink of substantial expansion, fueled by an aging population and a rising prevalence of urological disorders, as highlighted in a recent report by Future Market Insights (FMI). global sales of the pelvic floor stimulators industry are projected to total US$ 140.39 million for 2023. Projections indicate that the market is set to achieve a remarkable valuation of US$ 325.41 million by 2033, demonstrating a promising Compound Annual Growth Rate (CAGR) of 8.8% from 2023 onwards.
Pelvic floor stimulators play a pivotal role in addressing various urologic challenges, encompassing cystitis, urinary retention, kidney stones, and benign prostatic hyperplasia. With the elderly demographic growing and a concerning escalation in urinary issues, particularly in the Asia Pacific region, including China, India, and Japan, there has been a notable uptick in demand for these innovative devices.
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This highlights the key findings of the FMI report, emphasizing the:
- Promising Market Growth: The global pelvic floor stimulators market is anticipated to reach US$ 325.41 million by 2033, reflecting a robust CAGR of 8.8%.
- Rising Demand for Urologic Solutions: Pelvic floor stimulators address a growing need for effective treatment options for urological conditions like cystitis, urinary retention, and benign prostatic hyperplasia.
- Aging Population Drives Market Need: An increasing geriatric population is a key factor propelling the market growth, particularly in regions with a high elderly population density.
- Asia Pacific Region as a Growth Hub: Countries like China, India, and Japan within the Asia Pacific region are witnessing a significant rise in demand for pelvic floor stimulators due to a growing elderly population and increasing awareness of urological issues.
How are Industry Players Increasing their Foothold in the Market?
Competitors providing pelvic floor stimulators are introducing innovations to invigorate their product portfolios. By releasing technologically advanced products, the companies are targeting potential customers. Additionally, the firms are engaging in mergers and acquisitions to support their market position. By implementing these strategies, companies can boost their capacity, multiply their product portfolio, and enhance device competency.
Following are Some Recent Developments in the Market:
- Product Launch
Zynex, an electrotherapy devices manufacturer launched NeuroMove in February 2018. The product is aimed at survivors of stroke who seek to regain their movement using neuroplasticity.
- Acquisition
Laborie, a medical technology company completed the acquisition of Clinical Innovations in February 2020. The acquisition was completed for US$ 525 million. Through this acquisition, the company projected to invigorate its foothold in the market.
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Key Players in the Market:
- 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.
Pelvic Floor Stimulators Industry by Category:
Product Type:
- Electrical stimulators
- Magnetic Stimulators
Application:
- Urinary Incontinence
- Sexual Dysfunction
- Neurodegenerative Diseases
End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialized clinics
- Homecare setting
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa (MEA)
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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