Wilmington, Delaware, United States, Oct. 02, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The Urodynamics equipment and disposables market was valued at US$ 196.5 million in 2019. By 2030, the urodynamics equipment and disposables market is expected to reach US$ 386 million. By 2030, the revenue of the Urodynamics Equipment and Disposables market will increase at a CAGR of 6%.
A new generation of updated medical technologies includes urodynamic equipment options. Besides being easier to use and displaying accurate information, these urodynamic systems are also relatively compact and portable. A number of features have been added to make the machine more versatile, and all information is displayed in a clear and easy-to-understand manner. By measuring bladder pressure and flow rate, urodynamic systems assess how the urinary tract functions.
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A new bladder cancer case is diagnosed every minute, according to the World Health Organization. The National Association for Incontinence estimates that 200 million people worldwide suffer incontinence, which makes it imperative to adopt urodynamic equipment immediately.
A growing number of initiatives are underway to educate the public on urological problems and treatment options, which will help broaden the scope of future growth. For instance, “Continence Awareness Week”, “Let’s Talk and Think about Continence” (Japan), and others. As a result of these programs, the market demand for these products will continue to grow.
Key Findings of Market Report
- Increasing numbers of patients suffering from urological disease around the world are causing hospitals to become a prominent end-user.
- Infrastructure investments and favourable reimbursement policies will help boost the urology market.
- Rising government funding and healthcare initiatives are driving demand for these devices.
- With technological innovation and a growing need for compact and customized products, demand for these products will increase.
Global Urodynamics Equipment and Disposables Market: Growth Drivers
- As the global population ages, urodynamic equipment and disposables will continue to grow. Patients over the age of 65 are more likely to suffer from urinary incontinence, overactive bladders, and other urological conditions, which increases the need for diagnostic and therapeutic services.
- Various urological disorders are becoming more common, including urinary tract infections, urinary incontinence, and benign prostate hyperplasia. In order to diagnose and monitor urodynamics accurately, urodynamics equipment is in high demand.
- The use of medical technology and advances in urology have enhanced the accuracy and convenience of testing urodynamics. Analyzing data, implementing wireless technology, and equipment design innovations are improving patient experiences.
- With the increasing awareness of urological conditions and the effectiveness of early diagnosis and treatment, more people are seeking medical attention, resulting in an increased demand for urodynamics equipment.
- An increase in healthcare expenditures has enabled healthcare facilities to purchase advanced diagnostic equipment, such as urodynamics machines. As technology advances in the healthcare industry, the urodynamic equipment market is expected to grow. As equipment advances, medical procedures become more precise and efficient.
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Urodynamics Equipment and Disposables Market: Regional Landscape
- The urodynamics equipment and disposables market in North America was significant, mainly because the large patient population has grown demand for these devices in the market. An increased awareness of disease and the adoption of preventative measures by the population has grown demand for these devices in the market.
- Europe is expected to be the leading market for these devices. Due to the increasing presence of key manufacturers in the market, the demand for these devices is expected to increase. In addition, the National Health Service (NHS) estimates that between 3 million and 6 million U.K residents had urinary incontinence in 2013.
- Asia is expected to experience exponential growth throughout the forecast period. In addition to growing disposable income, urological diseases are becoming more prevalent, which contributes to the growth of the industry. The growing number of geriatrics in this region will contribute to the market growth due to their higher risk of urological conditions.
Urodynamics Equipment and Disposables Market: Key Players
Many large and small players compete in the global market for urodynamics equipment and disposables. Global players in the 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.
- ConvaTec Inc.
Key Developments
- In February 2022, the Rossland Health Care Auxiliary contributed US$ 10,000 towards acquiring equipment for the Urodynamics Project at Kootenay Boundary Regional Hospital (KBRH). Patients who required complex urology care benefited from urodynamics to enhance their diagnosis.
- In June 2023, Mater invested in new medical equipment. Patients across the region are set to benefit from almost US$ 1 million in new medical equipment at Mater Private Hospital Bundaberg. They are also taking delivery of new spinal surgery equipment and a new urodynamics system to assist the many women who suffer urinary incontinence.
Global Urodynamics Equipment and Disposables Market: Segmentation
By Product
- Uroflowmetry Equipment
- Cystometer
- Ambulatory Urodynamic Systems
- Electromyographs
- Video Urodynamic Systems
- Urodynamics Disposables
By End User
- Hospitals
- Specialty Clinics
- Ambulatory Surgery Centers
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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