Wilmington, Delaware, United States, Jan. 05, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global urometer market was valued at US$ 483.2 Mn in 2021. The market is projected to create an absolute dollar opportunity of US$ 475.1 Mn during the forecast period from 2022 to 2032. Increase in awareness about incontinence care, especially among older adults, presents lucrative opportunities for companies in the urometers market.
Rise in prevalence of bladder dysfunction in women and the elderly is expected to offer significant opportunities for manufacturers and suppliers in the global urometer industry. Increase in awareness about incontinence care among the patient population has spurred demand for urine drainage bags, which is expected to fuel market growth. Rise in number of elective procedures in hospitals has increased the usage of urometers in patients.
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Key Findings
- Surge in Demand for Treatment for Urological Disorders to Create Lucrative Opportunities: Rise in demand for the management of various urological disorders is expected to propel urometer market growth. High prevalence of lower urinary tract infection has induced organizations to spread awareness about the health burden among the patients. This is expected to bolster the urometer market in the next few years. Increase in prevalence of chronic diseases and terminal illnesses in patients is driving the need for palliative care. This has led to an uptick in demand for urometers, especially in homecare setting. Furthermore, rise in prevalence of benign prostate hyperplasia in older adults and increase in incidence of bladder cancer are likely to increase the indications for usage of urometers.
- Rise in Usage of Urometers in Operative Procedures to Propel Hospitals Segment: Increase in hospitalization rate owing to surgeries has fueled the usage of urometers in hospitals. The hospitals segment is projected to grow at a CAGR of 7.3% from 2022 to 2032. Incidence of end-stage renal diseases and rise in number of elective surgeries are expected to drive the segment.
Key Drivers
- Increase in awareness about the burden of urologic diseases is a key driver of the urometer industry
- Rise in prevalence of bladder dysfunction among the elderly population is expected to create significant opportunities for companies in the market
- Surge in demand for advanced urine drainage bags among the patient population is likely to create new revenue streams for urometer manufacturers and sellers
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Regional Growth Dynamics
- Asia Pacific held major market share in 2021. Increase in target patient population and rise in elderly population is fueling urometer market growth in the region
- The U.S. is a lucrative region in North America. Increase in R&D in devices used for the management of urologic diseases and rise in healthcare expenditure on palliative care are expected to augment the market in the country in the next few years. The urometer market report indicates that prominent companies are likely to tap into the demand for urometers in geriatric care in the U.S., which is likely to broaden the market outlook.
Competition Landscape
Leading players are focusing on strategic partnerships in order to develop innovative products and gain urometer market share.
Key players operating in the urometer market are Observe Medical ASA, Fannin, Laborie, Hitec Medical Co. Ltd., Forlong Medical Co. Ltd., ConvaTec, Inc., Medline Industries, Inc., Cardinal Health, Teleflex, Inc., and BD.
Urometer Market Segmentation
By Product Type
- 100 ml
- 200 ml
- 400 ml
- 450 ml
- 500 ml
By Application
- Palliative Care
- Operative Procedures
- Emergency Trauma
- Other Applications
By End-user
- Home Healthcare
- Hospitals
- Clinics
- Others
By Region type
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Others
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Russia
- Others
- Asia Pacific
- India
- China
- Japan
- South Korea
- Australia
- Others
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Israel
- Others
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