Impact of Covid-19 on Urinary Incontinence Market 2020: Remarking Enormous Growth with Recent Trends | Coloplast, Boston Scientific Corporation, C. R. Bard Inc, etc
: New York, United States, 19-July-2020, (Via WiredRelease), (Reports and Data) – According to Reports and Data, the Global Urinary Incontinence Market was valued at USD 2.18 billion in 2018 and is expected to reach USD 3.93 billion by the year 2026, delivering a CAGR of 7.6% through the forecast period. Urinary incontinence is the uncontrolled leakage of urine occurring due to the loss of bladder control. Factors responsible for urine leakage include pregnancy, diabetes, menopause, pelvic surgery, childbirth, spinal surgery, and post radical prostatectomy surgery.
Key factors contributing to the growth of the market in the forecast period are the rising prevalence of physical and medical conditions leading to urinary incontinence and an increase in the geriatric population. The International Diabetes Federation estimates that half a billion people are living with diabetes worldwide, and the number is projected to increase by 25% until 2030 and 51% until 2045. The increasing number of diabetic patients undergoing problems related to urination is anticipated to aid market growth in the following years. The North American region dominated the sector, with a market share of 42.2% in 2018. Research and development activities in the region are expected to propel the growth of the industry in the forecast years.
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The COVID-19 impact:
Covid-19’s spread has affected manufacturing and construction activities worldwide. Logistic limitations and reconsiderations of the raw material requirements are becoming a problem for producers. The producers have relied on derived demand as an intermediate commodity to rationalize production. The pandemic’s economic impact on companies and financial markets is also not favorable. Stock market volatility and decreasing global growth are anticipated, which will affect the market. The market has experienced a downturn over the weeks, which may continue over the next few months. The Asia Pacific is the most affected region by this pandemic, with China at the center of the outbreak. Most initiatives in multiple countries have changed to a temporary halt. Development, as well as supply, is put on hold, creating losses for suppliers, dealers and customers alike.
Europe followed North America with a share of 29.2% in 2018 and is expected to record significant growth due to the rising prevalence of conditions causing urinary incontinence. The rising demand for minimally-invasive treatment methods for urinary incontinence and government initiative focused on spreading awareness in the region is expected to propel market growth in the Asia Pacific region
Key participants include
Covidien plc (Medtronic), Coloplast, Boston Scientific Corporation, C. R. Bard, Inc., ConvaTec Group Plc, Ethicon, Inc., Caldera Medical Inc, Cook Medical, Prosurg, Inc., and Cogentix Medical Inc.
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For the purpose of this report, Reports and Data have segmented into the global Urinary Incontinence market on the basis of type, propellants, application, and region:
Products Outlook (Revenue in Million USD; 2016–2026)
Urinary CathetersFoleySuprapubicIntermittentElectrical stimulation devicesNon-implantableImplantableUrethral SlingsMaleFemaleNeuromodulation DevicesArtificial Urinary SphinctersOthers
Types Outlook (Revenue in Million USD; 2016–2026)
Categories Outlook (Revenue in Million USD; 2016–2026)
End-Use Outlook (Revenue in Million USD; 2016–2026)
HospitalsClinicsAmbulatory Surgical CentersHome UseOthers
Regional Outlook (Revenue, USD Million; 2017-2027)
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