A recent report by Transparency Market Research, titled “Pelvic Floor Electrical Stimulation Device Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024” provides a detailed growth scenario of the global pelvic floor electrical stimulation device market from a global perspective. As per the report, the high occurrence of neurological diseases and rising awareness amongst patients and affected people are some of the prime growth drivers of the global pelvic floor electrical stimulation device market. A detailed competitive landscape, prominent market boosting factors, regional market presence, and top segments among others are some of the aspects explained in the report.
As per the report by TMR, the global pelvic floor electrical stimulation device market is segmented by considering four primary criteria: end-user, geography, device type, and treatment. Based on the device type criteria, the non-implantable device type is expected to gain a strong growth during the forecast period. This growth is mainly anticipated to occur due to rise in urinary incontinence cases amongst the overall population, generally amongst elderly women and those affected by obesity.
According to reports from the Center of Medicare and Medicaid services, the U.S. houses at least 17 million people who are affected by urinary incontinence. Amongst all those affected, women have more chances of getting affected as compared to the percentage of men being diagnosed with this condition. As per statistics from Medicare, nearly 35% women are affected, whereas 25% of male beneficiaries suffer from urinary incontinence. The use of pelvic floor electrical stimulation device is a prime option, thus becoming a key boosting factor for the market. There also are several businesses who are making their extensive foray into the global floor electrical stimulation device market by taking initiatives to develop innovative products. In this way, the introduction of newer devices in the market is leading towards improvement of the services being provided, thus becoming a major propelling factor for the global pelvic floor electrical stimulation device market.
In contrast to the boosting factors, there are a couple of restraints that are actively affecting the position of the industry from a global perspective. Cost of the reagents used to generate the electrical impulses is a prominent restraint that may extensively hamper the pelvic floor electrical stimulation device market during the forecast period from 2016 to 2024. Another prime hindrance involves managing the sensitivity of the electrical impulses produced from the use of stimulation devices. The sensitivity of these impulses need to managed in a careful manner, thus necessitating them to be handled by experts. However, with newer and improved devices being developed by several companies, the costs are soon expected to drop, thus significantly easing the restraints. The increasing number of people from medical background showing an interest in this field is paving way for rise in number of experts to render patient care in the future.
From a geographical perspective, the global pelvic floor electrical stimulation device market is categorized into five prominent segments: Europe, Latin America, North America, Asia Pacific, and the Middle East and Africa. Amongst all these regions, North America holds the leading position with regards to maximum market shares achieved as of recent times. This is mainly due to the rising number of elderly women, increasing cases of obesity, and high urinary infection rates.
Regarding the competitive landscape, key market players play a crucial role in expanding the global pelvic floor electrical stimulation market. This is mainly done by top players who are investing extensively, so that technological innovations and product development can be smoothly carried out. Some of the main players in the global electric floor stimulation device market are: Coloplast A/S, C.R. Bard Inc., Boston Scientific, Ethicon Inc., and several others.
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