With rising hospital-based treatments for incontinence, efforts by government bodies and insurance companies to bolster reimbursement policies will bolster the adoption of pelvic floor electrical stimulation devices on a global scale, for the forecast years.
The pelvic floor electrical stimulation devices market will reflect a very impressive 9% CAGR for the period of projection between 2020 and 2030. The coronavirus pandemic will have a moderate impact on the global pelvic floor electrical stimulation devices market, which can be largely attributed to government restrictions on elective medical procedures and disruptions to component supply chains, which will remain key concerns for manufacturers in the short-term. Recovery is likely to be strong towards 2021 as lockdown restrictions are relaxed.
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Pelvic Floor Electrical Stimulation Devices Market – Important Takeaways
- Hospital applications are likely to contribute strong demand on the back of higher capital resources and spending.
- Mobile pelvic floor electrical stimulation devices is a fast growing segment owing to the rising popularity of treatments in home care settings.
- North America is a prominent regional market supported by investments from market players into research into sexual dysfunction and neurodegenerative ailments.
Pelvic Floor Electrical Stimulation Devices Market – Driving Factors
- Awareness initiatives by governments and medical organizations about the problems associated with urinary incontinence is driving up adoption.
- Improvements to reimbursement policies for incontinence treatments by insurance companies has created a favorable landscape for the market.
Major companies in the pelvic floor electrical stimulation devices market are expected to hold on to substantial market share on the back of capital and investments into potential new technology. On the whole, market players are likely to focus efforts and resources towards research & development to keep up with patient needs, and applications in more severe cases, in compliance with the standards of regulatory bodies.
- For instance, Pelvital introduced its new Flyte pelvic floor electrical stimulation device, which has received approval from the FDA for treating conditions of stress urinary incontinence. It is a non-invasive, intravaginal device aimed for home care applications.
- Similarly, InControl Medical announced FDA approval for its new pelvic floor electrical stimulation device – Attain, which is to be distributed as a non-implantable OTC offering for use in home care settings.
Fact.MR has analyzed prominent companies in the pelvic floor electrical stimulation devices market, to study the competitive scenario of the sector, including Utah Medical Products Inc., Atlantic Therapeutics, Shenzhen XFT Medical Ltd., The Prometheus Group, Zynex Medical, KayCo2 Ltd., Laborie Inc., TensCare Ltd., and Verity Medical Ltd., among others.
Fact.MR has studied the pelvic floor electrical stimulation devices market with in-depth segmentation on the basis of product type, application, end user, and region.
- Urinary Incontinence Treatment
- Neurodegenerative Diseases
- Sexual Dysfunction
- Home Care Settings
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
More on the Report
The Fact.MR’s market research report provides in-depth insights on pelvic floor electrical stimulation devices market. The market is scrutinized according to product type (mobile and fixed), application (urinary incontinence treatment, neurodegenerative disease, sexual dysfunction, others), and end user (hospitals, clinics, home care settings, others) across five key regions (North America, Latin America, Europe, Asia Pacific, and Middle East and Africa).