PUBLISHER: The Insight Partners | PRODUCT CODE: 1830953
PUBLISHER: The Insight Partners | PRODUCT CODE: 1830953
The continence care market is projected to grow from US$ 6.51 billion in 2024 to US$ 9.54 billion by 2031, reflecting a CAGR of 5.6% during the forecast period.
Market Insights and Analyst Perspective:The risk of developing incontinence increases with age, and factors such as obesity, childbirth, or brain injuries can also trigger the condition. Innovations in product design and materials, along with a rising incidence of urinary incontinence, are expected to propel the growth of the continence care market. Additionally, the growing demand for advanced solutions like wearable devices and smart continence care products aimed at improving patient comfort and monitoring, coupled with government initiatives to enhance healthcare infrastructure, are likely to further boost market expansion. These innovative products often incorporate sensor technologies and networking capabilities for data collection and real-time monitoring. As technology advances, smart continence care products are expected to evolve, offering even more sophisticated features tailored to the needs of individuals with incontinence.
Growth Drivers:Supportive Reimbursement Policies Fuel Continence Care Market
Regularly purchasing absorbent products to manage medical conditions can be financially burdensome for patients and their caregivers. In certain cases, public and private insurance programs provide reimbursement for continence products. For instance, the Medicaid program typically reimburses patients for 120 intermittent catheters per month. Medicaid covers a wide range of catheter brands, including those with hydrophilic and antibacterial coatings, straight catheters, coude catheters, and catheter kits.
Medicare, the US government health insurance program for individuals aged 65 and older, those under 65 with specific disabilities, and individuals of any age with end-stage renal disease, reimburses up to 200 sterile, single-use catheters monthly for intermittent catheter users. For members with chronic urinary incontinence, Medicare covers sterile intermittent catheters along with insertion kits or closed-system intermittent catheters.
Strategic Insights
Report Segmentation and Scope:The "continence care market analysis" has been conducted by examining the following segments: product, type, and end user.
Segmental Analysis:In terms of product, the continence care market is divided into catheters, urine bags, protective incontinence garments, and others. The catheter segment accounted for the largest share of the continence care market in 2022 and is expected to achieve a CAGR of 5.7% during the forecast period.
The increased adoption of intermittent catheters as alternatives to indwelling or permanent catheters is likely to drive demand. Consequently, key players are innovating and launching new products to stimulate segment growth. For example, in March 2021, Hollister Incorporated launched the Infyna Chic intermittent catheter in the US market.
The continence care market is categorized by type into fecal incontinence care and urinary incontinence care. The urinary incontinence care segment held a larger market share in 2022 and is projected to register a higher CAGR of 5.8% during the forecast period.
By end user, the continence care market is segmented into hospitals and specialty clinics, homecare, and others. The hospitals and specialty clinics segment held the largest market share in 2022 and is expected to achieve the highest CAGR of 6.0% during the forecast period.
Regional Analysis:The global continence care market report encompasses an evaluation of market performance across North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2022, Europe dominated the continence care market share. The growth in this region is fueled by government initiatives aimed at raising awareness and improving access to products through promotional strategies. For instance, in February 2023, KKR strengthened its position in the medical device sector by acquiring Clinisupplies from Healthium.
Additionally, NHS England launched the National Bladder and Bowel Health Project to enhance continence care within the public health and care system. Healthcare providers, including the National Health Service (NHS) in the UK, play a crucial role in delivering continence care services, which encompass diagnosis, assessment, and the implementation of appropriate management techniques.
Continence Care Market Report Scope
Future Opportunities:The healthcare sector is continuously evolving due to the rising demand for continence care products from a large global population, which has spurred new product development, launches, and approvals worldwide. Furthermore, major market players are engaged in research and development activities to foster innovation and create effective products. Recent years have seen numerous developments in product launches and approvals, which are likely to present significant opportunities. For instance, in February 2021, Ontex, a leading global personal hygiene company, introduced an innovative solution for incontinent patients, contributing to the expanding adult care market.
This innovative solution from Ontex features a premium diaper equipped with a printed sensor, a transmitter that attaches to the diaper, and a mobile application. This combination alerts caregivers when a diaper requires changing and accurately assesses the diaper's saturation level and leak risk. This approach provides personalized continence support, enhancing the well-being of users, families, and caregivers.
Thus, the ongoing development and launch of new products by market players are expected to create significant opportunities and drive market growth in the coming years.
Competitive Landscape and Key Companies:The continence care market forecast can assist stakeholders in formulating their growth strategies. Prominent companies profiled in the continence care market report include Hollister Incorporated, Coloplast, Alcare Co., Ltd., B. Braun SE, Convatec Inc, Cardinal Health, Boston Scientific Corporation, Essity, PAUL HARTMANN AG, and Kimberly-Clark Corporation. These companies are focused on developing new technologies, enhancing existing products, and expanding their geographic reach to meet the increasing global consumer demand.