The global artificial urinary sphincters market size is anticipated to reach USD 643.4 million by 2026, expanding at a CAGR of 6.6%, according to a new report by Grand View Research, Inc. Increasing prevalence of urinary incontinence (UI), rising healthcare expenditure, and technological advancements in artificial urinary sphincters is anticipated to boost the market growth.
As per European Association of Urology, UI affects around 200 million people worldwide. Stress and urge incontinences are the major diseases affecting older women due to the hormonal changes during menopause. According to The Canadian Continence Foundation, the total cost of UI and fecal incontinence is around USD 4.0 billion annually. Artificial urinary sphincter is one of the safest and most reliable treatments for incontinence. In addition, in 2014, around 3.5 million people in Canada had suffered from some type of incontinence. Thus, increasing prevalence of UI is expected to drive the artificial urinary sphincters market growth.
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Government spending on healthcare is increasing faster in developing countries than rest of the global economy. In the middle-income countries, government per capita healthcare expenditure has doubled since 2000. According to the WHO, government spends around USD 60 on per person health in the lower middle-income countries whereas USD 270 in upper middle-income countries, which reduces inequities and stimulates economic growth.
Further key findings from the report suggest:
- Based on the brand, AMS 800 dominated the market in 2018 as it is highly durable, effective, and safe surgical option for the treatment of stress UI in males, and high satisfaction rate among men
- The female segment is expected to exhibit the highest CAGR owing to increasing prevalence of UI and fecal incontinence, and increasing awareness about artificial sphincters among women
- North America dominated the artificial urinary sphincters marketwith the highest revenue share in 2018 owing to increasing number of UI cases coupled with growing public awareness to prevent urinary diseases and favorable reimbursement framework in the region
- The key players are introducing technologically enhanced products to gain competitive advantage in the industry. For instance, Boston Scientific launched AMS 800 Urinary Control System, to treat stress UI in males. This launch has enhanced Urology and Pelvic Health segment of Boston Scientific Corporation.
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Grand View Research has segmented the global artificial urinary sphincters market on the basis of brand, end use, and region:
Artificial Urinary Sphincters Brand Outlook (Revenue, USD Million, 2015 – 2026)
- AMS 800
Artificial Urinary Sphincters End-use Outlook (Revenue, USD Million, 2015 – 2026)
Artificial Urinary Sphincters Regional Outlook (Revenue, USD Million, 2015 – 2026)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa (MEA)
- South Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research Guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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