Incontinence Products Market Anticipated to Achieve High CAGR Percentages during 2018-2027
The global incontinence products I market is expected to see an upswing in demand in coming years. Incontinence is a condition in which one loses control of urination or defecation.
[USPRwire, Fri May 24 2019] Large pool of patients in developing regions suffering from incontinence problems is expected to provide lucrative growth opportunities for players in the Incontinence Products Market. Sales of incontinence devices in North America is projected to be the highest throughout the projected period owing to high-value-added technologies delivered by small- and medium-sized companies in the region.
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The global incontinence products I market is expected to see an upswing in demand in coming years. Incontinence is a condition in which one loses control of urination or defecation. Rise of certain diseases which generally affects geriatric population are one of the major reason behind incontinence among old age people, apart from their growing age. Incontinence products can be divided into two types which are external and internal products. In internal products consist of tampons, pessaries, and disposable urethral inserts. On the other hand, external product includes barrier creams, bed pads, repair creams, body was, hand wash, absorbent product, gloves, and shampoo caps. These products are distributed through various distribution channels such as institutes, homecare, and retail trade.
Major raw materials that are found in manufacturing incontinence products are cotton fiber, super absorbents, plastics, water resistant materials, and cotton and cotton fiber. Factors like, availability of cheap incontinence products in the market is trying to dampen the market growth. It is proved to have a negative impact on their health. Investors are shifting their focus from developed countries to developing countries such as Japan, China, and India, where the rise in population is expected to promote the growth of the market.
The incontinence products market is anticipated to grow due to rise in increasing prevalence of chronic disease such as bladder cancer, kidney disease, endocrine and urological disorders. Increasing cases of chronic diseases are in turn driving the demand for incontinence products such as urinary catheters and other drainage products. Companies are expected to focus towards production of ‘high volume-low margin’ products as it has been observed that majority of seniors above the age of 65 are managing incontinence. This age group is also struggling with an inadequate or stable earnings from pensions and prefer inexpensive continence care products.
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Increasing focus on geriatric health is one of the factors expected to contribute to growth of incontinence products market over the projected period. Consumption of personal hygiene products is growing which is supported by increasing per capita income across the globe. A significant change has been observed in the lower and middle income countries with respect to living standards, per capita income and urbanization. Consumption of hygiene products has increased significantly in Asian countries such as China and Japan over the last decade and the trend is anticipated to continue in the near future. Governments of various countries across the globe are focusing on providing favorable reimbursement policies for patients and caregivers’ spending on incontinence products. Under these policies, costs incurred on urinary incontinence products such as absorbent products and urinary catheters can be fully or partially reimbursed through public and private insurance programs. This is expected to fuel the adoption of incontinence products over the projected period.
Increasing waste associated with incontinence products is anticipated to hamper market growth to a certain extent during the forecasted period. Rising in consumption of disposable products results in increasing production of disposable waste, which has an adverse effect on the environment. For instance, disposable products create 80–100 times additional waste as compared to reusable products. Growing concern about adverse environmental effect is influencing people to shift to reusable and cost-effective products such as cloth adult incontinence products, which can adversely affect adoption of incontinence products in the near future.
The incontinence products market in Latin America and MEA is expected to witness comparatively less growth due to lack of awareness of the available products among general public. In developing regions such as Asia Pacific, product penetration is relatively low due to low awareness and relatively high social stigma associated with incontinence disorders.
Fujian Hengan Group Ltd., Unicharm Corporation, Fujian Yifa Healthcare Products Co., Ltd., Abena Group, PAUL HARTMANN AG, Mega Soft (Fujian) Hygiene Products Co., Ltd., Kimberly-Clark Corporation, C. R. Bard, Inc., B. Braun Melsungen AG, Ontex International N.V., Medtronic, Medline Industries, ConvaTec Inc., SCA Hygiene Products AB and THEOS MEDICAL SYSTEMS, INC., are few of the companies operating in the global incontinence products market.
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