Global Adult Incontinence Products Market: Overview
Owing to a massive increase in geriatric population, the global adult incontinence market is set to grow at an impressive pace. Used by people suffering from severe incontinence, dementia, mobility impairment, and diarrhea, adult incontinence products. Other factors that help the market witness a stellar CAGR (Compound Annual Growth Rate) over the forecast period of 2019 to 2027 are increasing purchasing power due to rise in disposable incomes, which make the products affordable, and increase in awareness. Another point that is important to note here is that over the period stated above, novel opportunities will present themselves to market players.
Global Adult Incontinence Products Market: Notable Development
Rife with a number of notable developments, the vendor landscape of global adult incontinence products market is at the cusp of transformation. Players in the global adult continence market are proactive and currently focused on improving marketing and advertising initiatives. An important one is detailed out below:
2017: India saw an advertising campaign from the company called Friends Adult Diapers. This was the company’s first campaign in the region has managed to push competitors into action, intensifying competition in the market. It is pertinent to note here that the campaign aimed at raising awareness regarding the importance of these products and at the same time created brand recall.
Some of the players that have created a prominent name in the global adult incontinence products market landscape are mentioned below:
- Kimberly-Clark Corporation
- Procter & Gamble
- Attends Healthcare Products, Inc.
- Unicharm Corporation
- First Quality Enterprise
- Hengan Group
- Daio Paper
In order to lay claim on a sizeable share of the market the players are focusing on innovation to have better products hit the market. Other strategies include key mergers and acquisitions, and other alliances such as synergistic partnership and collaborations.
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Global Adult Incontinence Products Market: Key trends and driver
Trends and drivers that are contributing positively to the growth of the global adult incontinence products market are many and varied. Ones that are considered prominent are spelled out below:
- Over the world, by the year 2050, the number of people aged 60 and above will be 2.1 billion. It is a massive increase from the 962 million in the year 2017. It is also pertinent to note here that in the year 1980, the number of people in the age bracket was a mere 382 million. This is a demographic group that is a direct consumer of these products, thus, set to drive the market on an upward growth curve over the forecast period.
- Players in the market are actively involved in improving absorbency levels, odor, and breathability if the product, helping improve demand, propelling growth in the global adult incontinence products market. Besides, steps taken to raise awareness by a number of companies are also contributing to the growth in this market. Growth in e-commerce is fuelling it further.
Global Adult Incontinence Products Market: Regional Analysis
Over the forecast period, the developing region will hold a sizeable share of the market and present players with a plethora of untapped opportunities owing to increasing awareness levels and increasing disposable income – a natural outcome of robust economic growth noticed in some of the nations, particularly in the Asia Pacific (APAC) region.
Additionally, it is worth noting that the North American and European region will also chart significant growth in the global adult incontinence products market due to a rapidly ageing population – one in four to fall in the age group of 65 and above by the year 2050.
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