New York, USA, Jan. 30, 2023 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global external urine management products market is envisioned to garner $31,929.3 million and grow at a CAGR of 7.4% during the forecast timeframe from 2022 to 2031.
As per our analysts, with the increasing applications of external urine management products in hospitals, the global external urine management products market is predicted to experience significant growth over the forecast period. Moreover, the growing use of external urine management products for prostate cancer is expected to create extensive growth opportunities during the estimated timeframe. However, the lack of awareness and postoperative complications may impede the growth of the market throughout the analysis period.
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Segments of the External Urine Management Products Market
The report has divided the market into segments based on gender, product type, product category, distribution channel, end-user, and region.
Gender: Female Sub-Segment to be Most Profitable
The female sub-segment is predicted to hold the largest share of the market throughout the estimated timeframe. This is mainly because females wear protective pads, diapers, or shields to prevent their garments against urinary leaks. Moreover, the increasing cases of urine retention in elderly females during hospitalization related to physical function, mortality, and ambulatory ability are predicted to upsurge the growth of the market sub-segment during the forecast period.
Product Type: Pads & Diapers Sub-Segment to be Most Beneficial
The pads & diapers sub-segment is expected to hold the maximum share of the market over the analysis timeframe. The increasing use of pads and diapers by individuals suffering from urine incontinence, dementia, severe diarrhea, or mobility limitation is predicted to amplify the growth of the external urine management products market sub-segment during the forecast period.
Product Category: Disposable Sub-Segment to be Most Productive
The disposable sub-segment is predicted to hold the largest share of the market throughout the estimated timeframe. This is mainly due to the increasing consumption of personal hygiene product consumption, the rising prevalence of chronic renal disease, and bladder infection. Moreover, the increasing availability and usage of disposable incontinence products in home care settings is expected to foster the growth of the market sub-segment over the forecast period.
Distribution Channel: Offline Sub-Segment to be Most Gainful
The offline sub-segment is expected to hold the highest share of the market during the analysis timeframe. This is mainly due to the extensive availability of offline distribution channels all across the globe. Moreover, the persisting preference for product verification, certainty, and authenticity is predicted to propel the growth of the external urine management products market sub-segment throughout the forecast period.
End-User: Hospitals Sub-Segment to be Most Lucrative
The hospital sub-segment is expected to have the fastest growth during the estimated timeframe. This is mainly due to the rising frequency of end-stage renal disease and the increasing number of cases of end-stage renal diseases among individuals. In addition, the increasing prevalence of urinary diseases among older people and their need of staying at hospitals for a prolonged period are the factors predicted to fuel the growth of the market sub-segment over the forecast period.
North America Region to Have Wide Growth Opportunities
The North America region of the external urine management products market is predicted to have expansive growth opportunities throughout the analysis timeframe. This is mainly because of the rising occurrence of urinary diseases such as urinary tract infections, bladder obstruction, bladder cancer, and urine retention among people of this region. Furthermore, the rising geriatric population in this region and the rising life expectancy among individuals are expected to drive the regional growth of the market over the forecast period.
Covid-19 Impact on the External Urine Management Products Market
Though the outbreak of the Covid-19 pandemic has devastated several industries, it has had a positive impact on the external urine management products market. This is mainly because the rising admissions rates in hospitals have increased the demand for external urine management products across several countries. Moreover, several pharmaceutical and biotechnology businesses have started making strategic collaborations, and partnerships that have inclined the growth of the market during the pandemic period.
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Key Players of the Market
The major players of the external urine management products market include
- Men’s Liberty (BioDerm)
- Sage Products LLC (Stryker Corporation)
- Boehringer Laboratories LLC
- Consure Medical
- Coloplast Corp.
- Tilla Care Inc.
- Sterimed Group
- Teleflex Inc.
- Hollister Inc.
- Cardinal Health
These players are widely working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to procure a leading position in the global industry- Inquire here to grab full report
For instance, in August 2022, Teleflex, an American provider of specialty medical devices for a range of procedures in critical care and surgery announced its collaboration with FundamentalVR, a deep IP company working at the intersection of immersive technology (XR), haptics, and machine learning. With this collaboration, the companies aimed to accelerate the effective use of the UroLift® 2 System, an innovative way of treating benign prostatic hyperplasia which is commonly called an enlarged prostate.
Further, the report also presents other vital aspects including SWOT analysis, the financial performance of the key players, the product portfolio, and the latest strategic development.
More about External Urine Management Products Market:
- When do Doctors Suggest Individuals Use External Urine Management Products?
- Global External Urine Management Products Market to Observe Extensive Growth with Increasing Occurrence of Urological Disorders
