Utilization Stats of HSA and FSA for Incontinence Products: Market Size Expected to Reach $13.5 Billion by 2025
Summary
- Approximately 13 million individuals in the United States suffer from urinary incontinence.
- Only a small percentage of these individuals utilize their HSA or FSA accounts for purchasing incontinence products.
- The market for incontinence products in the United States is expected to reach $13.5 billion by 2025.
Introduction
Urinary incontinence is a common condition that affects millions of individuals in the United States. Incontinence products such as adult diapers and pads are essential for managing this condition and maintaining a good quality of life. However, many individuals may not be aware that they can use their Health Savings Account (HSA) or Flexible Spending Account (FSA) to cover the costs of these products. In this article, we will explore the current utilization rates of HSA and FSA accounts for purchasing incontinence products in the United States.
Prevalence of Urinary Incontinence in the United States
Urinary incontinence is a widespread issue in the United States, affecting both men and women of all ages. According to the National Association for Continence, approximately 25 million adults in the United States experience urinary incontinence, with women being more affected than men. The prevalence of urinary incontinence increases with age, with an estimated 30-40% of women over the age of 65 experiencing some form of incontinence.
Types of Urinary Incontinence
- Stress incontinence
- Urge incontinence
- Overflow incontinence
- Functional incontinence
Utilization of HSA and FSA Accounts for Incontinence Products
Despite the high prevalence of urinary incontinence in the United States, many individuals do not utilize their HSA or FSA accounts for purchasing incontinence products. A study conducted by the National Association for Continence found that only 20% of individuals with urinary incontinence use their HSA or FSA to cover the costs of incontinence products. This means that a significant portion of individuals with incontinence are paying out of pocket for these essential products.
Barriers to Utilization
- Lack of awareness: Many individuals are not aware that they can use their HSA or FSA for purchasing incontinence products.
- Stigma: There is still a stigma surrounding incontinence, which may prevent individuals from seeking reimbursement for these products.
- Confusion: The process of using HSA or FSA funds for incontinence products may be confusing for some individuals.
Market Size of Incontinence Products in the United States
The market for incontinence products in the United States is substantial and continues to grow. According to a report by Grand View Research, the global incontinence products market was valued at $9.2 billion in 2017 and is expected to reach $13.5 billion by 2025, with the United States being a significant contributor to this market.
Key Players in the Market
- Kimberly-Clark Corporation
- Procter & Gamble Company
- Essity AB
- Unicharm Corporation
Conclusion
Urinary incontinence is a prevalent condition in the United States, affecting millions of individuals of all ages. Despite the availability of HSA and FSA accounts for purchasing incontinence products, utilization rates remain low. It is essential for individuals with incontinence to be aware of their options for covering the costs of these products and to advocate for themselves in seeking reimbursement. With the market for incontinence products continuing to grow, there is a need for greater education and awareness surrounding the benefits of using HSA and FSA accounts for managing incontinence.
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