An impressive expansion is estimated for the global urodynamic devices market, according to a new report by Fact.MR, for the forecast period 2017 to 2024. A number of technological advancements have been witnessed in urodynamic devices, which include intravesical prostatic protrusion, condom catheter, ultrasound video urodynamic, and penile cuff. These advancements in technology will fuel adoption of urodynamic devices worldwide.
Moreover, other factors such as continuous product approvals, rising proliferation of testing center networks, and soaring provision of medical reimbursements related to urological preliminary tests are further poised to propel growth of the market. Revenues from the global urodynamic devices market will reach US$ 265 Mn in revenues by the end of the forecast period.
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Increasing Initiatives to Spread Awareness about Urological Disorders to Boost the Market Growth
The World Health Organization (WHO) has estimated over 300,000 patients to be affected with bladder cancer annually around the world. The National Association of Incontinence estimates roughly 200 Mn population across the globe to be suffering from urinary incontinence every year. Incidences such as these have increased demand for urodynamic devices, along with the rise in clinical urgency.
Numerous healthcare initiatives have been creating awareness about urological disorders, coupled with availability of diagnostics and treatment for urological problems. Some initiatives among these include “Continence Awareness Week” undertaken by the U.K.’s Continence Foundation, and Japan’s “Let’s Talk and Think About Continence”. These initiatives are depriving people of social stigma, encouraging them to consult physicians. The aforementioned factors will boost growth of the global urodynamic devices market in the upcoming years.
Uroflowmetry Urodynamic Devices to Remain Sought-after in the Market
Uroflowmetry urodynamic devices will continue to be sought-after among physicians, and revenues from sales of uroflowmetry urodynamic devices will hold more than one-fourth share on global revenues throughout the forecast period. Significant use of uroflowmetry to diagnose prostate cancer, benign prostatic hypertrophy, urinary blockage, bladder cancer, neurogenic bladder, and bladder dysfunction, are contributing to demand for uroflowmetry urodynamic devices in hospitals and urology clinics globally. In addition, sales of urodynamic catheters are projected to register the fastest expansion in the market through 2024.
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Urology clinics will continue to be the fastest growing end-users of urodynamic devices in the global market. Hospitals are estimated to remain the largest end-users of urodynamic devices over the forecast period. North America will account for the largest share of the revenues from urodynamic devices sales in hospitals. Urodynamic devices sales in hospitals are anticipated to account for more than US$ 150 Mn revenues by 2024-end.
Urodynamic Devices Market in APEJ to Register the Fastest Expansion through 2024
In terms of revenues, North America is projected to remain dominant in the global urodynamic devices market. Growth of the market in this region is mainly attributed to the rise in prevalence of target diseases, along with rapid adoption of urodynamic devices in a large number of healthcare and pharmaceutical centers, diagnostic procedures, and increasing preference of the urogynecologists & urologists for the purpose of urodynamic studies.
Fact.MR’s report estimates the market in Asia-Pacific excluding Japan (APEJ) to exhibit the fastest expansion through 2024, which can be attributed to growth in prevalence of urological diseases, increasing disposable income of population, and unmet patient needs in the region.
Key market players mentioned in Fact.MR’s report on the global market for urodynamic devices include Best Medical International Inc., Verathon Inc., LABORIE, CooperSurgical Inc., Dantec Dynamics A/S, Neomedix Systems Pty. Ltd., Medica SpA, Boston Scientific Corporation, and Albyn Medical Ltd.
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