Pelvic Floor Electrical Stimulation Devices Market Investment Strategies and Forecast Analysis 2020-200
The pelvic floor electrical stimulation devices market will reflect a very impressive 9% CAGR for the period of projection between 2020 and 2030. The coronavirus pandemic will have a moderate impact on the global pelvic floor electrical stimulation devices market, which can be largely attributed to government restrictions on elective medical procedures and disruptions to component supply chains, which will remain key concerns for manufacturers in the short-term. Recovery is likely to be strong towards 2021 as lockdown restrictions are relaxed.
"With rising hospital-based treatments for incontinence, efforts by government bodies and insurance companies to bolster reimbursement policies will bolster the adoption of pelvic floor electrical stimulation devices on a global scale, for the forecast years," says the Fact.MR analyst.
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Pelvic Floor Electrical Stimulation Devices Market - Important Takeaways
Hospital applications are likely to contribute strong demand on the back of higher capital resources and spending.
Mobile pelvic floor electrical stimulation devices is a fast growing segment owing to the rising popularity of treatments in home care settings.
North America is a prominent regional market supported by investments from market players into research into sexual dysfunction and neurodegenerative ailments.
Pelvic Floor Electrical Stimulation Devices Market - Driving Factors
Awareness initiatives by governments and medical organizations about the problems associated with urinary incontinence is driving up adoption.
Improvements to reimbursement policies for incontinence treatments by insurance companies has created a favorable landscape for the market.
Pelvic Floor Electrical Stimulation Devices Market - Leading Constraints
Higher efficacy of incontinence treatments through pelvic floor exercise holds back adoption among younger patients.
High capital costs associated with product development has been a concern for manufacturers.
Anticipated Market Impact by Coronavirus Outbreak
The effects of the covid-19 outbreak on the pelvic floor electrical stimulation devices market has been moderately negative. This can be attributed to the lack of spending by patients during the crisis, and restrictions placed by governments on elective medical procedures.
On the other hand, the market is witnessing increased adoption of telemedicine technology during the crisis period, which will help in partially mitigating losses arising during the pandemic. The market is likely to display strong recovery towards 2021, with a wide base of patients, particularly among female geriatrics.
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Competition Landscape
Prominent manufacturers in the pelvic floor electrical stimulation devices market include but are not limited to Verity Medical Ltd., Utah Medical Products Inc., TensCare Ltd., Atlantic Therapeutics, Laborie Inc., Shenzhen XFT Medical Ltd, and Zynex Medical among others.
Top market players are focused on strategic mergers and acquisitions in addition to product development and launch strategies for offerings in compliance with regulatory health and safety standards.
For instance, Atlantic Therapeutics has revealed the FDA approval for Innovo - a transcutaneous muscle electrical stimulator. Northwestern Medicine has revealed a new FDA-approved nerve stimulator offering for controlling incontinence. Also, Horizon Health has expanded its portfolio of women's health services including electric pelvic stimulation services for physical therapies.
More on the Report
The Fact.MR's market research report provides in-depth insights on pelvic floor electrical stimulation devices market. The market is scrutinized according to product type (mobile and fixed), application (urinary incontinence treatment, neurodegenerative disease, sexual dysfunction, others), and end user (hospitals, clinics, home care settings, others) across five key regions (North America, Latin America, Europe, Asia Pacific, and Middle East and Africa).
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