Subject: MRR
Global Incontinence Products Market to Reach $16.1 Billion by 2024
SAN FRANCISCO, Aug. 5, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Incontinence Products - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 20; Released: May 2021
Executive Pool: 15793 Companies: 58 - Players covered include Attends Healthcare Products, Inc.; B. Braun Melsungen AG; Cardinal Health, Inc.; Coloplast A/S; ConvaTec Group PLC; Essity Aktiebolag; First Quality Enterprises, Inc.; Hollister Inc.; Kimberly-Clark Corporation; Medline Industries, Inc.; Ontex BVBA; Paul Hartmann AG; The Procter & Gamble Company; TZMO SA; Unicharm Corporation and Others.
Coverage: All major geographies and key segments
Segments: Segment (Disposable Adult Diapers, Disposable Adult Shields, and Others); and End-Use (Institutional, and Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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ABSTRACT-
Global Incontinence Products Market to Reach $16.1 Billion by 2024
Incontinence impacts around 400 million persons annually, which is approximately 4-5% of the total global population. People over the 65 age group are relatively at more risk of suffering from incontinence as compared to the younger generation. The increasing age of population creates new necessities, which in turn drives demand for several products that are not currently considered daily goods, for example, absorbent incontinence products, including adult diapers, disposable underwear, and panty liners. Amid the COVID-19 crisis, the global market for Incontinence Products is projected to reach US$16.1 Billion by 2024, registering a compounded annual growth rate (CAGR) of 6.3% over the analysis period. United States represents the largest regional market for Incontinence Products, accounting for an estimated 28.0% share of the global total. The market is projected to reach US$4.6 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 10.9% over the analysis period.
The global market for incontinence care products is driven by factors, such as rising number of aging population; increasing incidence of incontinence among both women and men; growing cases of prostate surgeries, increasing urbanization, growing disposable incomes, and rising awareness and acceptance of products available for these conditions. Besides bed-ridden patients, adults with mild to moderate urinary incontinence are also increasing the use of adult incontinence products, including diapers and liners. This factor is further driving the demand for adult incontinence products. Rapid growth of the incontinence market is also propelled by the launch of new and improved products that provide more discretion and improved comfort to the sufferer. Developed regions are major markets for incontinence products, primarily due to aging population, rising consumer acceptance, and the advent of innovative products. The US, Europe, and Japan account for the maximum market share in the global market, as a large section of the population in these countries are under transformative state, from baby boomers to graying retirees. The incontinence products market in these regions is also characterized by innovation, unique product designs, and attractive packaging. The alarming rise in obesity levels, led by the rise in income levels, increasing affluence, and sedentary lifestyles, is also expected to maintain growth momentum for incontinence products in these regions. Asia-Pacific is rapidly emerging as a major market globally, primarily driven by growing proportion of the elderly, particularly in China. Low market penetration rates as compared to the developed regions also constitute another important factor driving market growth.
The market for Adult diapers is forecast to emerge as the dominant segment over the analysis period. Adult diapers, which are disposable products, are no longer just medical products but are becoming common consumer products. Consumption of adult diapers is getting increasingly bigger due to the growing elderly demographics in many Asia-Pacific and Western countries. Other factors driving the market growth include better consumer awareness, favorable healthcare policies of governments, as well as availability of better quality products. Introduction of innovative, user-friendly, and customized products ensuring greater comfort for the patients is also creating new avenues for growth in the marketplace. More
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