LONDON, May 8, 2012 /PRNewswire/ -- The incontinence care market has seen a slow and steady growth during the economic recession. Market participants must compete to keep costs down and innovate to make products more personalised.
The global incontinence market was valued at $5.26 billion in 2010 and is estimated to reach $7.08 billion in 2017 with a compound annual growth rate (CAGR) of 3.8 per cent. The United States, Europe and Japan continue to dominate the market, Japan being the fastest growing market.
"Though key market participants have an established presence in certain geographies, the shifting numbers of consumer groups toward the APAC poses a major challenge in terms of distribution structure and manufacturing capabilities for tier I participants," observes Beulah Devadason, Senior Research Analyst at Frost & Sullivan.
In the incontinence care market, the main market segments include absorbent products, drainage bags, incontinence clamps, incontinence cleaners, skin protection, odour control, urinals and catheters. Absorbent products form 90 to 95 per cent of all incontinence care products revenues.
While an aging population in key regional markets, an increasing awareness, and acceptance of incontinence products and innovation to personalised products to specific consumer segments will drive the incontinence care market, there are also some challenges to be faced, such as the threat of alternates and substitutes, the threat of low-cost manufacturers and an increasing demand from an elderly population.
"The weakened economy has caused many customers to opt for low-cost products in the absorbent products segments. However, improvements in product innovation to provide personalised solutions to a highly sensitive user group has resulted in continued market growth and increased adoption rates," concludes Beulah Devadason.
Frost & Sullivan has recently organised an on-demand analyst briefing entitled "Incontinence Care Market How Can You Absorb the Change?" The web-conference summarises Ms. Devadason's findings, investigating the changing product landscape in North America, Europe and Asia-Pacific, and focusing specifically on the growth opportunities that exist in developing nations fueled by increasing personal disposable income and large applicable customer bases.
This web-conference will benefit component manufacturers, distributors and investors by discussing emerging trends and providing forward projections for the Global Incontinence Care Industry.
To receive a presentation of the web-conference and a link to the recording, please send an email to Janique Morvan, Corporate Communications, at email@example.com, with your full contact details.
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SOURCE Frost & Sullivan