The global urodynamic equipment and consumables market is expected to reach USD 335.40 million by 2025, according to a new report by Grand View Research, Inc. This market is anticipated to grow at an unprecedented rate owing to growing geriatric population that exhibits greater vulnerability to urological dysfunctions. In addition, unprecedented upsurge in prevalence of bladder cancer poses high clinical urgency to adopt highly efficient diagnostics, which thereby broadens future growth prospects. In 2017, as per the American Cancer Society, bladder cancer accounted for 5.0% of all cancers in the U.S.
The market is also driven by global increase in obesity. As per the Centers for Disease Control and Prevention, approximately 36.0% of adult population is obese. According to a research published in NCBI, obesity has increased the risk of developing various urological conditions, such as prostate cancer, nephrolithiasis, hypogonadism, and urinary tract infections. Furthermore, expanding network of testing centers for urological diseases is also broadening growth prospects. Prominent players are engaging in strategic collaboration and acquisitions to increase their geographical presence. For instance, in September 2016, Brighter Health Network LLC announced the acquisition of Urodynamic Testing Specialists to geographically expand in to Florida and the Northeastern region of the U.S.
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Further Key Findings From the Report Suggest:
Uroflowmetry equipment held the largest share in the type segment in 2016. This can be attributed to its adoption in testing a wide range of indications such as urinary blockage, bladder dysfunction, prostate cancer, benign prostatic hypertrophy, and others
Ambulatory urodynamic equipment is expected to grow at a lucrative rate owing to associated benefits such as greater availability & portability and higher efficiency in comparison with conventional methods
North America accounted fora substantial share owing to increasing number of supportive government initiatives and high awareness amongst end-users
Asia Pacific is expected to witness exponential CAGR during the forecast period owing to high burden of target diseases and continual infrastructure upgradation of urological testing centers
Major players are creating a highly competitive atmosphere by adopting strategies such as new product development, collaborations, and strategic agreements
For instance, in July 2016, LABORIE announced the addition of urology and gastroenterology product portfolio of Medical Measurement Systems B.V.to its existing line of products
Grand View Research has segmented the global urodynamic equipment and consumables market on the basis of type and region:
Urodynamic Equipment and Consumables Type Outlook (Revenue, USD Million, 2014 - 2025)
Ambulatory Urodynamic Systems
Video Urodynamic Systems
Urodynamic Pumps and Transducer Sets
Urodynamic Equipment and Consumables Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East & Africa
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