Urodynamic Equipment and Consumables Market Worth US$ 283.8 million by 2027 Says, The Insight Partners
According to The Insight Partners new research study on “Urodynamic Equipment and Consumables Market to 2027 – Global Analysis and Forecast – by Type,” Global urodynamic equipment and consumables market was valued at US$ 173.7 million in 2019 and is projected to reach US$ 283.8 million by 2027; it is expected to grow at a CAGR of 6.5% during the forecast period of 2020-2027. The growth of the market is attributed to high prevalence of chronic diseases leading to kidney diseases and rise in prevalence of urinary incontinence. However, the availability of alternatives for treatment of urinary incontinence hinder 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.
Unique Medical Devices, Neomedix Systems,
Bestmedical, Laborie, Inc., Albyn Medical, Coopersurgical, Inc., Tic
Medizintechnik Gmbh And Co. Kg, Dantec Medical, Nael Medical, Boston Scientific
Corporation are key companies operating in the global urodynamic equipment and
consumables market. The leading companies in the market are continuously
looking forward to expand and diversify their market presence along with
acquisition of new customer base and tapping prevailing business opportunities.
In 2019, North America dominated urodynamic equipment and consumables market and accounted for more than one third of the global urodynamic equipment and consumables market revenue. The growth in North American region is characterized by increase in the prevalence of end-stage renal diseases, presence of key market players and extensive R&D conducted by various academic and research institutes. In addition, there is also a boom in public healthcare expenditure and an increase in the awareness programs that are further expected to stimulate the growth of the urodynamic equipment and consumables market in the region.
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Increase in Incidence of Chronic Diseases Leading to Kidney Diseases is projected to Augment the Global Urodynamic Equipment And Consumables Market
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, approximately 35.0% of the diabetic
population above age 20 years would develop chronic kidney diseases over the
period. Furthermore, 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 U.S., as per the
American Cancer Society.
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. These factors are expected to enhance the market growth during the forecast period.
Urodynamic Equipment And Consumables Market: Segmental Overview
In terms of type, ambulatory urodynamic systems segment
is anticipated to grow at a faster pace as this has become an established method
of examination of lower urinary tract function. Ambulatory urodynamic studies
the effects on intra-abdominal and intravesical pressures. The market share
held by the ambulatory urodynamic systems segment is estimated to increase
exponentially in the near future, owing to the high rate of adoption of these
systems and their applications in urodynamic studies.
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