Vaginal Slings Market Expected to Reach $3.3 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Vaginal Slings Market," The vaginal slings market size was valued at $1.1 billion in 2020, and is estimated to reach $3.3 billion by 2030, growing at a CAGR of 12.4% from 2021 to 2030. Vaginal slings, also known as pubovaginal sling procedure is defined as a type of surgical procedure, which helps control stress urinary incontinence in women. Women suffering from severe urinary incontinence lose bladder control and are hence advised by the doctors to undergo vaginal sling surgeries for the treatment of urinary incontinence

Vaginal sling surgeries have gained traction in recent years, owing to increase in preference for the treatment of urinary incontinence. Women suffering from urinary incontinence experience urine leakage after coughing or sneezing, and severe urinary incontinence affects the patient’s daily life, where vaginal sling procedure becomes essential. Rise in the number of women experiencing urinary incontinence, especially stress urinary incontinence across the globe is set to propel the vaginal slings market growth. In addition, soaring female geriatric population, and increase in need for vaginal sling product, drive the growth of the vaginal slings industry. The increasing geractric female  population  boosts the market growth as geriatric population is prone to urinary incontinence issues. However, lack of awareness among patients regarding vaginal sling procedures hampers the market growth. Nevertheless, the technologically advanced vaginal sling product, and increase in number of vaginal slings industry, offers profitable opportunities for the expansion of the market.

The vaginal slings market share is segmented into type, end user, and region. On the basis of type, the market is segregated into conventional vaginal slings and advanced vaginal slings. The conventional vaginal slings segment dominated the market in 2020, and this trend is expected to continue during the vaginal slings market forecast period, owing to high utilization of biomaterials, autologous cells, and allogenic cells in the development of vaginal slings.

Depending on end user, the vaginal slings market share is bifurcated into hospitals, clinics, and others. The hospitals exhibited the highest growth in 2020, and is expected to lead during the forecast period, owing to the large scale utilization of vaginal slings and increase in preference of the geriatric population for surgical treatment of urinary incontinence in hospitals.

North America garnered a major share of the vaginal slings market analysis in 2020, and is expected to continue to dominate during the forecast period, owing to early adoption of novel vaginal slings along with increasing prevalence of stress urinary incontinence among women in this region. However, Asia-Pacific is expected to register highest CAGR of 12.3% from 2021 to 2030, owing to the high population base, growing disposable incomes, and rise in awareness among patient about advanced urinary incontinence management.

The COVID-19 outbreak is anticipated to have a negative impact on growth of the global vaginal slings market. The COVID-19 pandemic stressed healthcare systems globally. Surgical procedures are profoundly affected by the COVID-19 pandemic. A number of clinics and hospitals were restructured to increase hospital capacities for patients diagnosed with COVID-19. Implementation of lockdown, owing to the COVID-19 outbreak resulted in the decline in the number of elective surgeries performed globally.

Key Findings Of The Study

• By type, the conventional vaginal slings segment was the highest contributor to the market in 2020.
• On the basis of end user, the hospital segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
• Region-wise, North America garnered the largest revenue share in 2020. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.