(MENAFN- GlobeNewsWire - Nasdaq) Wilmington, Delaware, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Allied market Research published a report, titled, " Artificial Urinary Sphincter Implantation Device Market by Type (AMS 800 and Other), by Gender (Male and Female), and End User (Hospitals, Specialty Clinics and Ambulatory Surgery Centers): Global Opportunity Analysis and industry Forecast, 2024-2033" . According to the report, the artificial urinary sphincter implantation device market was valued at $0.5 billion in 2023, and is estimated to reach $1.1 billion by 2033, growing at a CAGR of 7.2% from 2024 to 2033.
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Prime Determinants of Growth
Major factor driving the growth of the artificial urinary sphincter implantation device market are increasing rising prevalence of urinary incontinence, particularly among the geriatric population, technological advancement and increase in healthcare expenditure. As the geriatric population increases, the incidence of urinary incontinence increases, thereby boosting the demand for effective incontinence management solutions. Technological advancements in artificial urinary sphincter implantation devices, such as improvements in device durability, miniaturization, and patient-friendly features, are also propelling market growth. Enhanced designs that reduce complications and improve patient outcomes make these devices more appealing to both patients and healthcare providers.
Moreover, increasing awareness and acceptance of artificial urinary sphincter implantation device implantation as a viable treatment option for severe incontinence are contributing to market expansion. Healthcare professionals are more frequently recommending AUS devices due to their proven efficacy and the growing body of positive clinical evidence supporting their use. Reimbursement policies in developed regions like North America and Europe are another significant factor, as favorable insurance coverage reduces out-of-pocket expenses for patients, thereby encouraging more individuals to opt for the procedure.
Report Coverage & Details
| Repot Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $0.5 billion |
| Market Size in 2033 | $1.1 billion |
| CAGR | 7.2% |
| No. of Pages in Report | 280 |
| Segments Covered | Type, Gender, End User and Region |
| Drivers | Surge in prevalence of urinary incontinence Rise in geriatric population Rise in awareness about effective treatment for urinary incontinence |
| Opportunities | Technological advancement in artificial urinary sphincter implantation device |
| Restraint | |
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Segment Highlights
The AMS 800 segment dominated market share in 2023
By type, AMS 800 segment dominated the market share in 2023. This is attributed to the fact that AMS 800 device is widely recognized for its high efficacy and reliability in treating urinary incontinence, particularly in patients with severe or recurrent incontinence following prostate surgery. Its long-standing presence in the market, backed by extensive clinical data and positive patient outcomes, has established it as the gold standard among artificial urinary sphincter implantation devices.
Female segment dominated the market share in 2023
By gender, female segment dominated the market share in 2023. This is attributed to high prevalence of urinary incontinence among women. Urinary incontinence often arises due to childbirth, menopause, and other gynecological issues, creating a substantial demand for effective treatment options like artificial urinary sphincter implantation devices. Additionally, there has been a growing awareness and acceptance of medical interventions to address incontinence among women, leading to increased adoption of these devices.
Hospital segment dominated market share in 2023
By end user, hospital segment dominated the market share in 2023. This is attributed to the fact that hospitals serve as primary settings for complex surgical procedures like artificial urinary sphincter implantation, which require advanced medical infrastructure and highly skilled urologists. The comprehensive care offered in hospitals, including preoperative assessments, sophisticated surgical facilities, and postoperative monitoring, ensures a higher success rate for such intricate procedures.
Regional Outlook
North America holds a dominant position in the market, attributed to high adoption of the artificial urinary sphincter implantation device, advanced healthcare infrastructure, supportive regulatory frameworks, and increasing prevalence of urinary incontinence. In addition, the strong presence of major key players and high research and development activities in the region for development of advanced artificial urinary sphincter implantation device is expected to contribute in the growth of the market. However, Asia-Pacific region is expected to register highest CAGR in the forecast period. This is attributed to technological advancements, rise in geriatric population, and developing healthcare infrastructure.
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Key Players
Boston Scientific Corporation Zephyr Surgical Implants Rules-Based Medicine GT Urological LLC Uromedica, Inc MyoPowers Medical Technologies SAS Promedon SA UroMems, Inc CooperSurgical Inc Laborie Medical Technologies Inc
The report provides a detailed analysis of these key players in the global artificial urinary sphincter implantation device market. These players have adopted different strategies such as acquisition and product development to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Developments in Artificial Urinary Sphincter Implantation Device Market Worldwide
In January 2022, ICU Medical, Inc. acquired Smith's Medical, a medical device company. This helped the company gain a strong position on a global level in the medical industry & technology sector. In February 2024, UroMems announced that it has successfully met the six-month primary endpoint for the first-ever female patient implanted with the UroActive System, the first smart automated artificial urinary sphincter (AUS) to treat stress urinary incontinence. In March 2024, Affluent Medical announced the successful first-in-human implantation of the minimally invasive medical device Artus for the treatment of urinary incontinence.
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