According to a new report published by Allied Market Research, titled, Vaginal Slings Market by Type, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global vaginal slings market was valued at $628 million in 2016, and is projected to reach $1,626 million by 2023, growing at a CAGR of 14.5% from 2017 to 2023. The conventional vaginal slings accounted for three-fifths share of the global market in 2016.
Rise in the number of women experiencing urinary incontinence, especially stress urinary incontinence across the globe is set to propel the market growth. In addition, soaring female geriatric population boosts the market growth. Moreover, increase in developments pertaining to materials utilized in constructing advanced vaginal slings supplements the growth of the market. However, lack of awareness among patients regarding vaginal sling procedures hamper the market growth. Moreover, increase in the technological advancements regarding vaginal slings offer profitable opportunities for the expansion of the market.
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Key Findings Of The Vaginal Slings Market:
- The clinics segment holds the second position among the end users of vaginal sling market in 2016, and is expected to grow at a CAGR of 14.7% from 2017 to 2023.
- North America dominated the global vaginal sling market, accounting for maximum share of overall market in 2016, and is anticipated to do so throughout the forecast period.
- India is the fastest growing country of the Asia-Pacific vaginal sling market during the forecast period.
- The advanced vaginal slings are anticipated to grow at the fastest rate registering a CAGR of 16.0% from 2017 to 2023.
Asia-Pacific witnessed highest growth rate for the vaginal slings market throughout the forecast period. Asia-Pacific serves to be an emerging market with a high population density, rise in disposable income, and increase in healthcare expenditure. In addition, increase in incidence of urinary incontinence in China and India, boosts the market growth.
Key Market Segments
- By Type
- Conventional Vaginal Slings
- Advanced Vaginal Slings
Type Segment Review
The vaginal slings market segmented based on Type, is divided into conventional vaginal slings, and advanced vaginal slings. Conventional vaginal slings segment has generated the highest revenue in 2016, and is anticipated to maintain the trend throughout the forecast period. Whereas, advanced vaginal slings have recorded significant growth rate from 2017-2023. This attributed to rising interest of the manufacturers in the development of vaginal mesh products, and vaginal mini slings for the treatment of urinary incontinence.
- By End User
- Hospitals
- Clinics
- Others
Key Market Players
- BOSTON SCIENTIFIC CORPORATION
- BETATECH MEDICAL
- C. R. BARD INC.
- COOK MEDICAL
- COLOPLAST A/S
- CALDERA MEDICAL
- COGENTIX MEDICAL, INC.
- JOHNSON & JOHNSON (ETHICON LTD.)
- MEDTRONIC PLC
- PROSURG INC
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