The latest market report published by Credence Research, Inc. “Vaginal Slings Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global vaginal slings market was valued at US$ 1,720.4 Mn in 2017 expanding at a CAGR of 4.6% from 2018 to 2026.
Market Insights
The global vaginal slings market is poised to grow during the forecast period owing to rising prevalence of urinary incontinence in women globally. Urinary incontinence is one of the priority health issue recognized by the World Health Organization (WHO) that considerably affects quality of life and economic impact. Urinary incontinence affects 200 million people worldwide, majority of which are women. According to sources, one in four women over the age of 18 experience multiple episodes of incontinence. For women aged 60 or above, 23% of the population have urinary incontinence. Low diagnosis rate of the disorder is the major drawback for the vaginal sling market. According to National Association for Continence (NAFC), on an average, women wait for 6.5 years from the first experience of incontinence symptoms until they obtain diagnosis and treatment for overactive bladder problem. Other factors driving the market include growing geriatric population. Many studies have proven than urinary incontinence is common in the women post menopause and above the age of 60. Technological advancements in the vaginal slings offering procedural benefits over other surgeries will further augment the growth of vaginal slings market during the forecast period.
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On the basis of end-user, the global vaginal slings market is segmented into hospitals, ambulatory surgical centers, and specialty clinics. In 2017, hospitals held the largest share in the market owing to high number of surgeries in the hospitals. Specialty clinics will exhibit highest growth during the forecast period. In terms of geography, North America dominated the global vaginal slings market attributed to higher diagnosis of urinary incontinence in women owing to high awareness of the disease and easy accessibility to various treatment. More than 25 million Americans suffer from urinary incontinence, of which 75-80% are women. Moreover, presence of sophisticated healthcare setting, reimbursement scenario and major market players provides North America advantage over other region. Asia Pacific emerged as the fastest growing region in vaginal slings market, driven by factors such as high undiagnosed population and high unmet needs. Growing investments by market players in the emerging regions will further drive the market. The key players currently engaged in vaginal slings market include Boston Scientific Corporation, C.R. Bard, Inc. (BD & Co.), Coloplast A/S, Ethicon, Inc., Medtronic, Plc., Betatech Medical, ABISS, and Caldera among others.
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Key Market Movements:
- Growing prevalence of urinary incontinence in women worldwide, and rising rate of diagnosis of the disorder
- Technological advancements in the vaginal slings leading to its higher preference compared to other surgeries
- Growing inclination of minimally invasive surgeries and growing awareness of urinary and vaginal sling techniques
Browse the full report at https://www.credenceresearch.com/report/vaginal-slings-market
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