Urethral Bulking Systems to be Clinically Effective Alternative for Stress Urinary Incontinence Boosting 6% Growth Over 2031: Persistence Market Research
NEW YORK, Aug. 19, 2021 /PRNewswire/ -- The Europe urethral bulking systems market was valued US$ 21.2 Mn in 2020, and is expected to accelerate at a decent CAGR of approximately 6% over the forecast period (2021-2031), with most of the growth of the market being driven by procedures at hospitals across the European continent.
Increase in female geriatric population is one of the major driving factors for the market in Europe. According to the Statistical Office of the European Union (Eurostat), 20.6% of the EU population was aged 65 and over in 2020. This creates opportunity for market players to grow in the region over the coming years.
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Key Takeaways from Market Study
- By product, pyrolytic carbon-coated graphite beads to hold over half value share of the overall market.
- Based on end user, hospitals is the leading segment with 67.5% of the market share in Europe.
- Germany dominates the urethral bulking systems market in Europe with a value share of over 20% in 2020, and will continue to hold a dominant position over the next ten years as well.
- The COVID-19 pandemic affected market growth negatively in 2020, dropping the year-on-year growth from 6.5% to 5.9% from the previous year.
"Although pyrolytic carbon-coated graphite bead-based urethral bulking systems are expected to create lucrative opportunities for market players, demand for polyacrylamide hydrogel is expected to increase at a higher CAGR," says an analyst of Persistence Market Research.
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Increasing efforts by manufacturers to create awareness and help urological professionals and patients through special educational sessions are expected to aid market growth during the forecast period. Key manufacturers are focusing on carrying out acquisitions that will broaden their product portfolios and help in expanding their presence in the market. Additionally, manufacturers are also focusing on entering into strategic partnerships with other companies to develop innovative products in the field of urology.
- In February 2019, Coloplast Group entered into an agreement with Premier, Inc. for three years to purchase its general urological products.
- In September 2020, Palette Life Sciences announced a partnership agreement with EVERSANA in order to support the commercialization of Solesta in the U.S.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the urethral bulking systems market in its latest study, presenting a historical demand assessment of 2016 – 2020 and projections for 2021 – 2031.
The research study is based on the product (pyrolytic carbon-coated graphite beads, calcium hydroxylapatite-based, polydimethylsiloxane macroparticle, polyacrylamide hydrogel, and hyaluronic acid-based) and end user (hospitals, ambulatory surgical centers, and specialty clinics), across the countries of Europe.
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SOURCE Persistence Market Research Pvt. Ltd.
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