With no clear leader and the presence of a large number of regional companies, the global market for women’s health rehabilitation products features a largely fragmented and intensely competitive vendor landscape, observes Transparency Market Research in a recent report. To stand their grounds in the intensely competitive scenario, companies are putting more focus on research and development activities with the view of developing innovative and cost-effective product varieties. Companies are also putting more emphasis on acquisitions and mergers in a bid to consolidate their positions and the market in general.
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Some of the leading companies in the market are Carolina Pelvic Health Center, Inc., GE Healthcare, and Carib Rehab Ltd.
According to the report, the global women’s health rehabilitation products market will expand at a CAGR of 5.0% over the period between 2016 and 2024, rising from a valuation of US$2.6 bn in 2015 to US$4.2 bn by 2024.
North America and Europe to Remain Leading Regional Markets
From a geographical standpoint, the markets for women’s health rehabilitation products in North America and Europe collectively held the dominant share in the overall market in 2015. The North America market, home to several medical devices and product companies, valued at nearly US$1 bn in 2015. Exhibiting a healthy CAGR of 4.9% over the period between 2016 and 2024, the regional market is likely to remain one of the most promising marketplaces for women’s health rehabilitation products in the near future as well.
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Factors such as the rising geriatric population and rise in number of accidents will ramp up the overall demand for women’s health rehabilitation products in North America. Over the forecast period, however, the market in Asia Pacific is expected to emerge as the most promising, thanks to rising awareness, rising disposable incomes, and an improving state of the region’s healthcare scenario.
On the basis of product, the segment of urinary incontinence treatment post prolonged illnesses is likely to exhibit the maximum CAGR over the forecast period.
Rising Prevalence of Chronic Diseases to Lead to Increased Demand for Innovative Products
One of the key factors working in favor of the global women’s health rehabilitation products Health impairment caused by chronic ailments is a major factor causing non-productive life among women around the world. Owing to rising awareness among women and healthcare reformatory bodies across the globe, there has been a massive surge in rehabilitation programs that include detailed monitoring of health habits, body vitals, exercise routines, and other activities that can help women in retaining good health.
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Moreover, the vast rise in the world’s geriatric population and changing lifestyle are also leading to a vast rise in the rate of chronic diseases, which is further expected to rise in the next few years at a rapid pace. The scenario will lead to an increased demand for women’s health rehabilitation products across the globe in the near future. The market is also expected to be driven due to the vast improvement in the healthcare scenario of several developing economies globally, which form a large share of world’s total patient pool of chronic diseases. However, the high cost of several product varieties could be a hindrance for the market, especially in cost-sensitive emerging economies.