Vaginal Slings Market: Increased Cases of Urinary Incontinence Fuel Demand Opportunities in Market
Transparency Market Research (TMR) has published a new report titled ‘Vaginal Slings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ According to the report, the global vaginal slings market was valued at US$ 1,676.0 Mn in 2017. It is projected to expand at a CAGR of 4.8% from 2018 to 2026. Rising emphasis on minimally invasive procedures, increasing geriatric population, and increasing awareness about the management of urinary incontinence are some factors that are likely to drive the vaginal slings market from 2018 to 2026.
Rise in demand for minimally invasive surgery/devices to minimize surgical complications and increase in demand for improved product outcomes and efficiency have led to the development of innovative products and technologies in order to address the unmet needs of patients as well as surgeons. Companies have significantly invested in R&D activities to develop new products and technologies, product designs, and materials in order to improve overall product efficiency and outcomes.
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Moreover, favorable medical reimbursement policies for incontinence treatment devices in developed countries, such as the U.S., Australia, New Zealand, the U.K., and Germany, have enabled most incontinence-affected patients to opt for effective treatment methods with quality products. These reimbursement policies have significantly driven the revenues for leading global players in the international market.
The report offers detailed segmentation of the global vaginal slings market based on product type, type of urinary incontinence, end-user, and region. In terms of product, the transobturator tape slings (TOT) segment is anticipated to hold high share due to low bladder injury, less incision, rising prevalence of urinary incontinence, and promising results of sling surgery in management of urinary incontinence.
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Hospitals to account for major share
The hospitals segment is expected to account for a leading share of the market by the end of 2026. The segment is also likely to expand at a rapid pace during the forecast period. Hospitals are equipped with all the equipment and consumables required for sling surgery. Moreover, availability of skilled professionals and ability to handle several operations simultaneously are estimated to drive the segment during the forecast period.
Market in Asia Pacific to expand at a significant pace
North America held a major share of the global market, in terms of revenue, and is expected to maintain its position during the forecast period. North America is home to several key market players, such as Boston Scientific Corporation, C. R. Bard, Inc., and Ethicon Inc., who have their headquarters in the U.S., where they generate significant sales. Hence, North America is a leading market for vaginal slings.
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Moreover, high awareness about latest health care technologies and higher purchasing power are anticipated to boost the vaginal slings market in North America. Favorable reimbursement policies in the region also enable patients to avail the best health care facilities. The vaginal slings market in Asia Pacific is expected to expand at a rapid pace, primarily due to improving health care infrastructure, rising private and public investment in life science research, and technological advancements in countries such as China and India.
Europe is projected to follow North America, in terms of share of the market, in terms of revenue, during the forecast period. Developed healthcare infrastructure in Europe has helped patients undergoing vaginal slings in covering their expenditure. Most healthcare providers, in countries such as Germany, the U.K., and France, provide full or partial coverage of costs related to treatment, medication, physicians cost, and tests depending on the patient’s insurance plan and income.
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Key players, such as Coloplast, Boston Scientific Corporation, and Ethicon, Inc., to lead the market
The report also provides profiles of leading players operating in the global vaginal slings market. The major players include Promedon Group, A.M.I. GmbH, Ethicon, Inc. Medtronic plc, ABISS, Betatech Medical, and Caldera Medical.
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