The recently published market study by Fact.MR highlights the current trends that are expected to influence the dynamics of the Pelvic Floor Electrical Stimulation Devices Market in the upcoming years. The report introspects the supply chain, cost structure, and recent developments pertaining to the Pelvic Floor Electrical Stimulation Devices Market in the report and the impact of the COVID-19 on these facets of the market. Further, the micro and macro-economic factors that are likely to impact the growth of the Pelvic Floor Electrical Stimulation Devices Market are thoroughly studied in the presented market study.
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Pelvic floor electrical stimulation devices are a fairly new long-term therapeutic solution for the strengthening of weakened pelvic floor muscles, which could potentially be used to minimize the effects of neurodegenerative disease, sexual dysfunction, and urinary incontinence among women and geriatrics. Rising investments in the healthcare sector towards research & development on intra-anal or intra-vaginal pelvic electric-powered stimulators are likely to boost demand for these devices in the long term, driven by key players such as Atlantic Therapeutics, TensCare Ltd., and Verity Medical Ltd.
The global pelvic floor electrical stimulation devices market is expected rise strongly and hit a US$ 800 million valuation by the end of the forecast period (2020 to 2030).
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On the other hand, the industry is likely to be moderately affected by the COVID-19 pandemic, owing to temporary restrictions imposed on elective healthcare.
Key Takeaways from Pelvic Floor Electrical Stimulation Devices Market Study
- Mobile pelvic floor electrical stimulation devices will account for a significant market share as compared to fixed alternatives. Cost benefits, high level of portability, and application in home care settings contribute to the segment’s domination.
- Urinary Incontinence applications will contribute major revenue share through the forecast period. Demand, particularly from geriatrics and pregnant women, will provide strong impetus.
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- Hospitals are likely to remain the leading end user in the pelvic floor electrical stimulation devices market throughout the duration of the forecast period, supported by higher patient footfall, and easy access to capital and new technologies.
- North America is estimated to remain the leading regional pelvic floor electrical stimulation devices market through the projection period, aided by major investments in research on neurodegenerative disease and sexual dysfunction issues.
- Improvements in terms of telemedicine technology, particularly following the outbreak of the COVID-19 virus, are supporting the rise of the pelvic floor electrical stimulation devices market.
“With the COVID-19 pandemic affecting the whole world, and putting stress on the healthcare sector, non-essential medical procedures have been postponed, which is projected to impede market growth in the near term,” says a Fact.MR analyst.
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Product Development & Strategic Acquisitions Fueling Market Expansion
The global pelvic floor electrical stimulation devices market is led by a number of prominent players, including Atlantic Therapeutics, InControl Medical Limited, Utah medical Products Inc., Tic Medizintechnik GmbH, The Prometheus Group, Verity Medical Ltd., and Shenzhen XFT Medical Ltd., among others.
Leading manufacturers in the sector are largely concerned with efforts towards the development of new products while complying with regulatory standards. Strategic mergers and acquisitions are also gaining interest among key players in the industry.
- For instance, Laborie Medical Technologies announced the acquisition of Cogentix Medical Inc., with the aim of investing in new technologies associated with urinary incontinence solutions, including pelvic floor electrical stimulation devices.
- Atlantic Therapeutics announced FDA approval for its Innovo system pelvic floor electrical stimulation device, which is an OTC, wearable offering for women suffering from urinary incontinence.
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