Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Pelvic Floor Electric Stimulator market.
Trusted Business Insights presents an updated and Latest Study on Pelvic Floor Electric Stimulator Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Pelvic Floor Electric Stimulator market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Pelvic Floor Electric Stimulator Market
The global pelvic floor electric stimulator marketsize was valued at USD 123.67 million in 2018 and is anticipated to grow at a CAGR of 11.1%. Rising prevalence of urinary incontinence, increasing awareness initiative by various organizations and favorable government policies are few factors driving the market growth.
Pelvic floor electric stimulator provides neuromuscular electrical stimulation for strengthening pelvic floor muscles. It is delivered generally by anal or vaginal probes connected to an external pulse generator. The method of pelvic floor electric stimulation varies according to various parameters such as stimulus frequency (Hz), amplitude (mA) and stimulus intensity, number of treatment days in a week, length of each treatment session, location, and clinic or home settings.
Urinary incontinence is described as an involuntary leakage of urine. Women are twice more prone to urinary incontinence as compared to men and the prevalence of urinary incontinence increases with age. Increasing prevalence of urinary incontinence and growing geriatric population are few factors driving the markets growth. Pelvic Floor Electric Stimulator (PFES), is therefore described as a non -invasive treatment of urinary incontinence.
According to the Medicare, Pelvic Floor Electric Stimulator (PEFS) with non-implantable electric stimulator is necessary and reasonable for treatment of urge and/ or stress urinary incontinence and non-implantable is reimbursed by the government in the U.S. The United Kingdom Continence Society has designed minimum standards for incontinence care. Thus, favorable reimbursement policies and awareness programs initiated by various organizations are few other factors increasing the demand of pelvic floor electric stimulator worldwide.
People suffering from chronic diseases such as Parkinsons disease, diabetes mellitus, and prostate cancer, are more prone to urinary incontinence. For instance, according to the Parkinsons disease Society of the United Kingdom, around 145,519 people aged above 20 years are diagnosed with Parkinsons disease. According to the World Cancer Research Fund, prostate cancer is the second most common cancer across the globe. As per the British Diabetic Association, in the UK, around 3.8 million people are diagnosed with diabetes every year. Thus, increasing prevalence of above-mentioned diseases are driving market growth.
Application Insights of Pelvic Floor Electric Stimulator Market
Based on application, the market is segmented into Urinary Incontinence (UI), neurodegenerative diseases and sexual dysfunction. In 2018, UI segment dominated the pelvic floor electric stimulator market owing to increasing prevalence of stress and urge incontinence & various product launches by key players in the market. Geriatric population and pregnant women are more prone to UI. According to a study published in NCBI, the prevalence of UI in pregnant women ranges from 32.0% to 64.0%. In addition, as per Office on Womens Health (U.S. Department of Health and Human Services), around 4 in 10 women get some type of UI during pregnancy.
The sexual dysfunction segment is expected to grow at the highest CAGR during the forecast period. Products introduced by the top players in the market, increasing awareness about treatment of sexual dysfunction through pelvic floor electric stimulator and rising prevalence of sexual dysfunction are few factors that may drive market growth in the future. For instance, according to the University of Wisconsin Foundation (School of Medicine and Public Health), around 5% of men above 40 years have Erectile Dysfunction (ED).
Regional Insights of Pelvic Floor Electric Stimulator Market
North America dominated the market owing to increasing incidence of neurodegenerative diseases, rising geriatric population, increasing prevalence of sexual dysfunction, and the presence of a large number of players in this region. According to the Parkinsons Foundation, around 60,000 people in the U.S. are diagnosed with Parkinsons disease every year. As per a report by the U.S. Census Bureau, around 78.0 million people will be 65 years older in 2035. In addition, according to the Alzheimer Society Canada, around 25,000 new cases of Alzheimer is diagnosed every year and it is expected to increase to 937,000 in 2031.
Asia Pacific is expected to grow at the highest CAGR over the forecast period due to increasing government spending, increasing investment by key players operating in the market, and awareness programs by various organizations. For instance, in India, The Urological Society of India drafted guidelines for spreading awareness about urinary incontinence in India. The Korea Incontinence Society, in South Korea, is working towards spreading awareness about urology issues related to the pelvic floor and lower urinary tract. Thus, these factors are expected to boost growth of the market during the forecast period.
Market Share Insights of Pelvic Floor Electric Stimulator Market
Few of the major players in the industry are Zynex Inc, TensCare Ltd, Verity Medical Ltd, Tic Medizintechnik GmbH, Everyway Medical Instruments Co, InControl Medical Limited, The Prometheus Group, Hollister Incorporated, and Laborie. These key market players are focusing on launching innovative types of pelvic floor electric stimulator, future growth strategies, and in research that help enable introduction of technological advancements.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Pelvic Floor Electric Stimulator Market Research Report
This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, this market research report has segmented the global pelvic floor electric stimulator market report on the basis of application and region:
Application Outlook (Revenue, USD Million, 2019 – 2030)
Quick Read Table of Contents of this Report @ Pelvic Floor Electric Stimulator Market Size, Market Research and Industry Forecast Report, 2026 (Includes Business Impact of COVID-19)
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