Rise in Incidences of Urinary Incontinence to Help Global Pelvic Floor Electrical Stimulation Devices Market Expand at CAGR of 9.5% during Forecast Period, Notes TMR Study
ALBANY, N.Y., Jan. 6, 2022 /PRNewswire/ — The global pelvic floor electrical stimulation devices market was valued at US$ 293.6 Mn in 2019 and is expected to grow at a CAGR of 9.5% during the forecast period, from 2020 to 2030. By the end of 2030, the global market is projected to reach the value of US$ 788.1 Mn. Increasing incidences of urinary incontinence and other pelvic floor ailments, as well as beneficial medical reimbursement policies are likely to drive the global pelvic floor electrical stimulation devices market.
The Centers for Medicare and Medicare Services (CMS) recognizes electrical stimulation devices for the treatment of stress and urges its use during urine incontinence as well. The expansion of the market is also fueled by the increase in the senior population, which is vulnerable to pelvic floor problems.
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The demand for economical technologically sophisticated goods is estimated to drive the global pelvic floor electrical stimulation devices market. Many companies in the present market landscape are striving for rapid approval of their products from the FDA to gain strong presence in the market. Furthermore, with steady rise in demand for non-invasive devices for treating stress urinary incontinence, manufacturing of non-invasive pelvic floor electrical stimulation devices has also increased.
Key Findings of Market Report
- Product Launch and Fast-track FDA Approval to Help Companies Gain Edge in Global Market
As the global prevalence of urine incontinence is rising, a number of firms in the present healthcare industry are making inroads in the global pelvic floor electrical stimulation devices market. Many companies in the current market scenario are striving for a strong market position, and hence, they are trying to obtain FDA approval in lesser period of time. Furthermore, as the demand for non-invasive devices for stress urine incontinence has risen steadily in the recent years, the development of non-invasive pelvic floor electrical stimulation devices has also increased.
For instance, the U.S. FDA authorized the Innovo ® treatment device, a novel non-invasive therapy device for stress incontinence in women, in December 2018. InControl Medical, meanwhile, received FDA clearance in March 2019 for the very first over-the-counter at-home pelvic floor electrical stimulation devices to address urine incontinence in women in the U.S.
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- Increasing Adoption of Electrical Stimulation to Aid Market Growth
Electrical stimulation has been one of the most effective and cutting-edge methods of biofeedback used for pelvic floor muscle rehabilitation in the past few years. Patients have become more interested in therapies that use pelvic floor electrical stimulation devices in the recent years, a trend that is likely to drive the global pelvic floor electrical stimulation devices market during the forecast period.
In addition, increasing emphasis on first-line conservative management programs for female patients suffering from urinary incontinence is likely to benefit the market. Besides, growing propensity toward research and development to develop an efficient yet cost-effective pelvic floor exercise therapy is anticipated to drive global market.
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Pelvic Floor Electrical Stimulation Devices Market: Growth Drivers
- Rise in incidences of elderly urinary incontinence and awareness about the availability and benefits of electrical simulation devices in Asia Pacific to create sales growth opportunities for the regional market
- Increasing regulatory approvals of new products, reasonable pricing, and convenience of use at office or home to drive demand for mobile pelvic floor electrical stimulation devices
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Pelvic Floor Electrical Stimulation Devices Market: Key Players
Some of the key market players are
- Shenzhen XFT Medical Limited
- Utah Medical Products, Inc.
- Tic Medizintechnik GmbH
- The Prometheus Group
- InControl Medical Limited
- Verity Medical Ltd
Pelvic Floor Electrical Stimulation Devices Market: Segmentation
- Urinary Incontinence Treatment
- Neurodegenerative Diseases
- Sexual Dysfunction
- Home Care Settings
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