Yahoo Finance Pessary Market Is Rapidly Growing Due to Increase in Female Geriatric Population and Increasing Number of Vaginal Deliveries | Persistence Market Research
Market Study on Pessaries: North America Leads Region-wise with Over One-third Market Share
New York, Feb. 09, 2023 (GLOBE NEWSWIRE) -- As per this new industry analysis by Persistence Market Research, the Global Pessary Market was valued at US$ 304.1 million in 2021 and is projected to expand at a CAGR of 8.1% between 2022 and 2032. Cases of pelvic floor descent increase with age and after multiple pregnancies. This is mainly because a majority of women with prolapse do not seek medical care at an early stage.
For instance, in an Oxford family planning study, it was reported that the risk of POP increased by 4 times after the first vaginal delivery, 8 times after the second delivery, and 9 times after the third delivery as compared to nulliparous women. This indicates that the risk of POP is high after repeated vaginal childbirths. This, in turn, can impact the pessary market in a positive manner. The prevalence of urinary incontinence is high in women and older patients, which negatively impacts their quality of life. This is also a key driver for the growth of this market.
To meet the growing demand for pessaries, key market players are focusing on novel product development with enhanced efficacy that could fit as per the needs of patients.
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For instance:
In 2021, CooperSurgical introduced the Milex Pessary Fitting Kit specially designed for doctors for determining the exact size and type of pessary required for a patient as per the condition.
Key Takeaways from Market Study
Ring pessaries are the leading segment based on product and held 20.5% market value share in 2021 owing to their ease of use in terms of device insertion and removal. It can also be used in complex stages of pelvic floor prolapse.
The pelvic organ prolapse segment, based on indication, is the leader in terms of usage of pessaries with a market value share of around 66.8% in 2021 owing to the increasing elderly population and lifestyle-related diseases that cause hormonal imbalances in women.
By end user, hospitals are leading in the global market and are expected to progress at a CAGR of 8.2% during the forecasted years.
North America is the leading regional market with a value share of 36.9% in 2021 owing to the high prevalence of urinary inconsistence and pelvic organ prolapse conditions in the region.
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“Rising prevalence of pelvic organ prolapse and urinary incontinence among the elderly population and increase in the awareness of pessary usage for supporting the prolapsed organ are set to propel market growth,” according to an analyst of Persistence Market Research.
Market Competition
The market for pessaries is fragmented and there are several local, emerging, and established players within the market sphere. Leading market players have initiated promotional activities to introduce the design and engineering of novel pessaries with enhanced efficacy, shapes, and sizes customized as per the anatomy of patients.
In June 2021, a Canadian-based medical technology company and Femtherapeutics Inc. developed a customizable pessary with an AI-driven platform and 3D printing to improve treatment outcomes for pelvic organ prolapse.
Dr. Arabin GmbH & Co. launched the Arabin cerclage pessary made up of a foldable flexible silicon material used as a conservative treatment for pregnant women having the risk of preterm birth, prolapse, and incontinence.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the pessary market in its latest study, presenting a historical demand assessment of 2017 to 2021 and projections for 2022 to 2032.
The research study is based on the product (ring pessaries, lever pessaries, incontinence rings, Marland, Gellhorn, Gehrung, donuts, cubes), indication (pelvic organ prolapse, urinary incontinences), and end user (hospitals, specialty clinics, ambulatory surgical centers), across seven key regions of the world.
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Our expert team of industry analysts comprising management graduates, medical professionals, engineers, and project managers provides insights on emerging therapy areas, diagnostic tools, medical devices and components, reimbursement and market access, biotechnology, and life science research products and services to equip decision-makers with sound inputs and strategic recommendations.
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