The market is estimated to grow with a CAGR of 6.5% from 2020 to 2027.
According to our new market research study on “Urodynamic Equipment and Consumables Market to 2027 – Global Analysis and Forecast – by type of equipment,” the market is expected to reach US$ 283.8 million by 2027 from US$ 173.7 million in 2019. The market is estimated to grow with a CAGR of 6.5% from 2020 to 2027. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth.
Urodynamic evaluation is a procedure to check how well the bladder, sphincters, and urethra are storing and releasing urine. Urodynamic tests emphasis on the bladder’s capacity to hold urine and unfilled gradually or completely. Urodynamic tests also determine unconscious contractions of the bladder that cause urine leakage. A doctor or a physician recommends urodynamic tests if symptoms suggest problems with the lower urinary tract.
The scope of the Urodynamic Equipment and Consumables market includes type of equipment and region. The market for Urodynamic Equipment and Consumables is analyzed based on regions such as North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America. The report offers insights and in-depth analysis of the Urodynamic Equipment and Consumables market emphasizing on various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the world.
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Urodynamic Equipment and Consumables Market Competitive Landscape and Key Development
Unique Medical Devices, Neomedix Systems, BestMedical, Laborie Inc., Albyn Medical Ltd. Coopersurgical Inc., TIC Medizintechnik Gmbh And Co. Kg, Dantec Medical, Nael Medical, and Boston Scientific Corporation are among the leading companies operating in the Urodynamic Equipment and Consumables market.
COVID-19 pandemic has become the most significant challenge across the world. This challenge will be frightening especially in developing countries across the globe as it will lead to reducing imports due to disruptions in global trade. Moreover, the component manufacturer, supply chain, and distributor, lack of business availability has also significantly influenced the production and distribution of the Urodynamic equipment and consumables. As per the International Trade Centre (ITC) report, factory shutdowns in the EU, US, and China – which together account for 63% of world supply chain imports and 64% of exports – are expected to amount to USD 126 billion in losses in 2020. Thus, the market is expected to witness a negative growth in the demand from the end-users for the current year and the subsequent years to recover from the impact of the COVID-19 pandemic.
Increased Incidence of Chronic Diseases Leading to Kidney Diseases
Chronic kidney disease (CKD) is a serious health condition that affects 1 in 10 people across the world. High blood pressure and diabetes were the two major causes in 75% of kidney failure cases between 2015 and 2017. Moreover, according to a study published by the National Kidney Foundation in 2020, ~35.0% of the diabetic population above age 20 years would develop chronic kidney diseases over the period. Further, an ongoing surge in prevalence of bladder cancer raises a strong therapeutic imperative for highly effective diagnostics to be implemented, thereby broadening potential development opportunities. In 2017, bladder cancer accounted for 5.0% of all cancers in the US, as per the American Cancer Society.
Moreover, as per the data published by National Kidney Foundation Inc., in 2020, chronic kidney disease is likely to cause more deaths than prostate cancer or breast cancer. It is an under-recognized emergency health condition among people. 1 in 3 American adults (about 80 million people) is at risk due to CKD.
According to the data provided by the Centers for Disease Control and Prevention (CDC), in 2020, 1 in 3 adults with diabetes and 1 in 5 adults with high blood pressure might have CKD. In 2015, 30.3 million people in the US had diabetes, as per the American Diabetes Association. According to the CDC, in 2014, around 118,000 people in the US started the treatment for end-stage renal disease, and the number of people for this treatment is expected to increase as more people become aware of the situation.
Urodynamic Equipment and Consumables Type-Based Insights
Based on type, the global urodynamic equipment and consumables market is segmented into Cystometer, Uroflowmetry Equipment, Ambulatory Urodynamic Systems, Electromyographs, Video Urodynamic Systems, and Urodynamic Consumables. In 2019, the Uroflowmetry Equipment segment accounted for the highest share of the market. Growth of this segment is attributed to the higher adoption of Uroflowmetry equipment in the diagnosis of urinary blockage, benign prostatic hypertrophy, bladder cancer, neurogenic bladder, bladder dysfunction, and prostate cancer. The ambulatory urodynamic systems segment is likely to register the highest CAGR in the global Urodynamic Equipment and Consumables market during the forecast period.
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