Pelvic Floor Electrical Stimulation Devices Market: Companies Focus on Product Launch, Gain Competitive Edge with FDA Approval
Pelvic Floor Electrical Stimulation Devices Market: Introduction
According to the report, the global pelvic floor electrical stimulation devices market was valued at US$ 300 Mn in 2019 and is projected to expand at a CAGR of 9.5% from 2020 to 2030. The electrical stimulation is a therapeutic treatment for muscle spasms and pain. It prevents atrophy and builds strength in patients with injuries. Electrical muscle stimulation can be used to strengthen weak pelvic floor muscles. Most electrical stimulation devices require insertion of electrical probes into the vaginal opening and rectally in men for pelvic floor muscle strengthening. Mobile pelvic floor electrical stimulation devices are portable, non-implantable, and handheld, and used for electrical stimulation of pelvic floor for the treatment of pelvic floor diseases such as urinary incontinence, fecal incontinence, and sexual dysfunction.
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Fixed pelvic floor electrical stimulation devices are non-implantable, stationary, tabletop models of pelvic floor electrical stimulation devices used in the treatment of pelvic floor diseases. These devices consist of the whole system of electrical stimulator, laptops, electrical probes, and printer. North America dominated the global pelvic floor electrical stimulation devices market in terms of revenue
in 2019 and the trend is expected to continue during the forecast period.
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Rise in Prevalence of Urinary Incontinence and Other Pelvic Floor Disorders to Drive Global Market
The rise in prevalence of urinary incontinence and other pelvic floor disorders, and favorable medical reimbursement policies are the major factors boosting the growth of the global pelvic floor electrical stimulation devices market. According to the International Continence Society, overactive bladder affects around 12% of both men and women, and the incidence increases with age. Electrical stimulation devices for the treatment of stress and urge urinary incontinence are covered as the reasonable and necessary treatment devices by the Centers for Medicare and Medicare Services (CMS) in the U.S. The increase in the geriatric population, which is more prone to pelvic floor disorders, also fuels the growth of the global pelvic floor electrical stimulation devices market
Technologically advanced products with comparatively lower price are driving the global pelvic floor electrical stimulation devices market.
Mobiles to Dominate Global Market
In terms of product type, the global pelvic floor electrical stimulation devices market has been bifurcated into mobile and fixed. The mobile segment accounted for a major share of the global market in 2019 due to cheaper pricing compared to implantable devices, rise in regulatory approvals for current products to use as OTC products, and patient convenience to use portable device at home or office.
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Urinary Incontinence Treatment to be Promising Application
Based on application, the global pelvic floor electrical stimulation devices market has been classified into urinary incontinence treatment, neurodegenerative diseases, sexual dysfunction, and others. The urinary incontinence treatment segment dominated the global pelvic floor electrical stimulation devices market in 2019 and the trend is expected to continue from 2020 to 2030. The urinary incontinence treatment is also likely to be a highly lucrative segment during the forecast period. The segment is projected to expand at a high CAGR from 2020 to 2030, owing to the increase in incidence and higher prevalence of urinary incontinence, rise in demand for non-invasive electrical stimulation devices, new product launches in the past few years, and increase in geriatric population.
Hospitals to be Major End User
In terms of end user, the global pelvic floor electrical stimulation devices market has been divided into hospitals, clinics, home care settings, and others. The hospitals segment accounted for a major share of the market in 2019, due to the increase in the number of hospitals, favorable reimbursement, and early adoption of advanced products at hospitals.
North America to Dominate Global Market
In terms of region, the global pelvic floor electrical stimulation devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a major share of the global pelvic floor electrical stimulation devices market in 2019, owing to higher patient population of urinary incontinence & other pelvic floor disorders, regulatory approvals for innovative products in the past few years, favorable insurance coverage, and presence of major companies. According to the Global Forum on Incontinence estimates, the prevalence of urinary incontinence in North America is estimated at around 9%, which is around 37 million people in the region.
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The market in Asia Pacific is projected to expand at a higher CAGR during the forecast period, owing to increase in geriatric population, which is more prone to urinary incontinence, rise in awareness about electrical stimulation devices, surge in demand for mobile products, increase in distribution tie-ups between major companies, and rise in investments by major companies in the region.
The global pelvic floor electrical stimulation devices market is fragmented in terms of the number of players with the entry of several new players. Key players in the global market include Atlantic Therapeutics, Utah Medical Products, Inc., The Prometheus Group, Shenzhen XFT Medical Limited, KayCo 2 Ltd., Zynex Medical, TensCare Ltd., Laborie, Inc., Verity Medical Ltd., Tic Medizintechnik GmbH, and InControl Medical Limited. Mergers, acquisitions & strategic collaborations, distribution tie-ups, and new product launches with advanced features are the major strategies adopted by leading companies in the global pelvic floor electrical stimulation devices market.
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