LONDON--(BUSINESS WIRE)--The global urinary slings market size is projected to grow to USD 873.9 million by 2021, at a CAGR of just above 10% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global urinary slings market for 2017-2021. By product type, the market is divided into vaginal slings and male slings segments.
A urinary sling is a medical device inserted through a surgical procedure to curb the problem of urinary incontinence by controlling the urine flow. Vaginal slings are by far the most popular product in the market, generating over 83% of the overall revenue. The segment will continue growing over the forecast period, at a CAGR of 10.4%.
Technavio’s research study segments the global urinary slings market into the following regions:
Americas: largest urinary slings market segment
“The Americas is the largest regional segment of the urinary slings market, generating over 42% of the overall revenue. The high number of baby boomers, high consumption rate, and high disposable incomes drive the growth of the market segment,” says Amber Chourasia, one of the lead analysts at Technavio for lab equipment research.
There is an increase in urinary sling requirement in the region due to rise in incidences of medical conditions requiring the use of these products, coupled with their ease of use and high disposable income among consumers.
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EMEA: European countries drive demand for urinary slings
The majority of the demand for urinary slings from EMEA originates from the developed European countries where a large percentage of the population is aged above 55. Conditions such as diabetes, multiple sclerosis, and nephrological disorders drive the demand for urinary slings. Germany, France, Spain and the UK are the largest contributors to the market from the region. The market is also progressing in South Africa and MEA, where vendors are catering to the unmet demand by increasing product awareness through strategic initiatives.
APAC: fastest-growing urinary slings market segment
“APAC will be the fastest growing regional segment, showcasing a CAGR of 11.4% over the forecast period. The fast growth can be attributed to the presence of several countries such as India and China, which create a large demand for urinary incontinence products like urinary slings,” says Amber.
Japan, Philippines, and Indonesia are other major contributors to the market from the region, owing to an increased availability of such products and the benefits that they offer. The increasing awareness among people, coupled with the rise in disposable incomes allows individuals facing bladder problems to cater to their hospital needs and other aids, thereby driving market growth.
The top vendors in the global urinary slings market highlighted in the report are:
- C. R. Bard
- Boston Scientific
- American Medical Systems
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