External Urine Management Products Market Is Expected to Reach $31.9 Billion by 2031: Allied Market Research
Development of sophisticated urinary incontinence devices, increase in the aging population, rise in government spending, significant investment by important stakeholders, and numerous organizations’ awareness campaigns drive the growth of the global external urine management products market. Region-wise, the market in North America grabbed the largest share in 2021 and is likely to maintain its leadership status during the forecast period.
Portland, OR, Feb. 09, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global External Urine Management Products Market generated $15.9 billion in 2021, and is estimated to reach $31.9 billion by 2031, witnessing a CAGR of 7.4% from 2022 to 2031. The external urine management products industry is seeing a growing focus on sustainability, with more and more consumers looking for products that are environmentally friendly and biodegradable. Companies in the external urine management products industry are investing in research and development to develop new products and technologies, and to stay ahead of the competition.
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Report coverage & details:
|Market Size in 2021||$15.9 Billion|
|Market Size in 2031||$31.9 Billion|
|No. of Pages in Report||280|
|Segments Covered||Gender, Product Type, Product Category, Distribution Channel, End User, and Region|
|Drivers||Rise in the prevalence of urological problems|
|Development of sophisticated urinary incontinence devices|
|Increase in the aging population|
|Increased government spending, significant investment by important stakeholders, and numerous organizations’ awareness campaigns|
|Opportunities||The growing trend of non-invasive treatment alternatives|
|Prevalence of chronic conditions in geriatric patients, such as peripheral arterial disease, cardiovascular disease, pulmonary embolism, and urinary tract infection|
|Restraints||A lack of awareness about recent advances in urinary incontinence devices as well as post-operative complications related to the products|
- The COVID-19 pandemic outbreak positively impacted various sectors of the healthcare industry such as hospitals, clinics, and home care settings where external urine management products are widely used.
- The period witnessed increased hospital admission rates of elderly people around the world. Therefore, urine management systems were in high demand in hospital settings to provide effective patient care to patients.
The report offers a detailed segmentation of the global external urine management products market based on gender, product type, product category, distribution channel, end user, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on gender, the female segment held the largest share in 2021, accounting for four-fifths of the global external urine management products market and would rule the roost through 2031. The same segment is estimated to witness the fastest CAGR of 7.5% during the forecast period. The report also discusses the male segment.
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Based on product type, the pads and diapers segment captured the largest market share of nearly three-fifths of the global external urine management products market in 2021 and is expected to lead the trail during the forecast period. The same segment is likely to achieve the fastest CAGR of 7.6% through 2031. The report also discusses the urine collection catheters and bags segment.
In terms of product category, the disposable segment held the largest share in 2021, capturing more than three-fifths of the global external urine management products market, and would lead the trail through 2031. The non-disposable segment is estimated to witness the fastest CAGR of 7.8% during the forecast period.
In terms of end-user, the hospitals segment captured the largest market share of nearly half of the global external urine management products market in 2021 and is expected to lead the trail during the forecast period. The homecare settings segment is likely to achieve the fastest CAGR of 7.7% through 2031.
Based on region, the market in North America was the largest in 2021, accounting for more than one-third of the global external urine management products market and is likely to maintain its leadership status during the forecast period. Moreover, the market in Asia-Pacific is expected to manifest the highest CAGR of 8.3% from 2022 to 2031. The other regions analyzed in the study include Asia-Pacific, Europe, and LAMEA.
Leading players of the global external urine management products market analyzed in the research include Hollister Inc., Sage Products LC, Beckton Dickinson & Company, Teleflex Inc., Consure Medical, Tilla Care Inc., Boehringer Laboratories, LLC, Sterimed Group, Cardinal Health Inc., and Coloplast Corp.
The report analyzes these key players of the global external urine management products market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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