Urodynamics Equipment and Disposables Market: Increase in Demand for Advanced and Safe Urodynamics Equipment to Boost Global Market
Urodynamics Equipment and Disposables Market: Introduction
According to the report, the global urodynamics equipment and disposables market was valued at US$ 196.5 Mn in 2019 and is projected to reach US$ 386 Mn by 2030, expanding at a CAGR of ~6% from 2020 to 2030. Urodynamics studies consist of a series of examinations that are useful to obtain functional information regarding bladder filling, emptying, and urine storage. Urodynamics tests are generally performed on individuals suffering from various urological conditions such as urinary incontinence, stress incontinence, and lower urinary tract symptoms. This study provides market analysis for various equipment and disposables used for urodynamics investigations.
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Increasing Incidence of Urological Dysfunctions to Drive Market
Currently, a large number of people across the world are suffering from numerous cardiovascular, neurological, urological, and other disorders. A patient needs to be diagnosed in detail to understand the cause and condition of the disorder or dysfunction, and plan an appropriate treatment regimen. Most patients, especially those suffering from disorders such as urinary incontinence and urinary retention disorders, or patients who undergo genital or prostrate surgery, or those suffering from multiple sclerosis or neurological disorders such as dementia, require urodynamic tests and diagnosis. The increase in incidence of these chronic disorders has fueled the demand for urodynamics equipment and disposables globally.
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According to the U.S. National Institutes of Health, currently, around 20 million women and 6 million men are suffering from urinary incontinence in the U.S. Furthermore, according to the National Health Service (NHS), approximately 3 million to 6 million people were suffering from some degree of urinary incontinence in the U.K. in 2013. Hence, a large number of patients across the globe would require urodynamic tests at some instance during their lifetime. According to the NHS urinary incontinence prevalence survey, women are more prone to this disorder due to the risk of side effects of childbirth and menopause, while men are more prone to urinary retention disorders. Thus, increase in incidence of various urinary disorders, along with growing awareness and demand for advanced urodynamic tests is projected to boost the urodynamics equipment and disposables market in the near future.
Ambulatory Urodynamic Systems to Gain Significant Market Share
In terms of product, the global urodynamics equipment and disposables market has been segmented into uroflowmetry equipment, cystometer, ambulatory urodynamic systems, electromyographs, video urodynamic systems, and urodynamics disposables. Ambulatory urodynamics systems also include fine tubes of catheters, a portable recording system, and ultrasound equipment, along with an electronic continence pad that records leaks of urine. Ambulatory urodynamics studies the effects on intra-abdominal and intravesical pressures. The market share held by the ambulatory urodynamics systems segment is estimated to increase exponentially in the near future, due to the high rate of adoption of these systems and their applications in urodynamics studies.
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Hospitals to be Highly Lucrative End User
Based on end user, the global urodynamics equipment and disposables market has been classified into hospitals, specialty clinics, and ambulatory surgery centers. The hospitals segment is likely to maintain its dominance during the forecast period. High budgetary expenditure, rise in government investment, and better reimbursement policies drive the hospitals segment. Moreover, most emergency cases of trauma or medical conditions where urgent surgical assistance is required are taken to large government or private hospitals rather than clinics.
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North America to Dominate Global Market
In terms of region, the global urodynamics equipment and disposables market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global urodynamics equipment and disposables market in 2019, followed by Europe. North America accounted for a significant share of the global urodynamics equipment and disposables market, primarily due to large patient population, increased disease awareness among people in the region, and measures adopted by them for the prevention of diseases. North America was a notable market for urodynamic equipment and disposables.
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Major players operating in the global urodynamics equipment and disposables market are Albyn Medical S.L., Boston Scientific Corporation, Becton, Dickinson and Company, Medtronic plc, Cooper Surgical, Inc., LABORIE, Medical Measurement Systems B.V., Verathon, Inc., Teleflex, Inc., and ConvaTec, Inc.
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