Global urodynamic devices market will reach US$ 265 Mn in revenues by 2022 end

A major trend being discerned in the global market for urodynamic devices is the shift toward non-invasive techniques. With increasing elder population, the number of cases pertaining to lower urinary tract symptoms (LUTS) has surged, which in turn will fuel demand for urodynamic devices. This Fact.MR report analyzes the expansion of global urodynamic devices market till date, and provides key insights on the growth of the market during the forecast period, 2017-2022.

The scope of Fact.MR’s report is to analyze the global urodynamic devices market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis. Medical device manufacturers, research institutes, and raw material suppliers in the global urodynamic devices market can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and medical journals pertaining to urodynamic devices.

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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 2022.

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 2022-end.

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North America will Retain its Dominance in the Global Urodynamic Devices Market

North America will retain its dominance in the global market for urodynamic devices, in terms of revenues. This is primarily attributed to surging prevalence of target diseases in the region, coupled with the robust adoption of urodynamic products in a variety of diagnostic procedures, pharmaceutical as well as healthcare centers, and rising preference of urologists & urogynecologists for urodynamic tests. Asia-Pacific excluding Japan (APEJ) is estimated to be the fastest expanding market for urodynamic devices over the forecast period. This robust expansion of the market in APEJ can be attributed to unmet patient requirements, rising prevalence of urological diseases, and increasing purchasing power of people in the region.

Uroflowmetry urodynamic devices are projected to remain the top-selling device, accounting for over one-fourth revenue share of the market throughout the forecast period. This is mainly because of extensive utilization of uroflowmetry for diagnosis of benign prostatic hypertrophy, prostate cancer, neurogenic bladder, bladder dysfunction, bladder cancer, and urinary blockage. In addition, urodynamic catheters are estimated to be the fastest-selling device in the global urodynamic devices market during 2017 to 2022.

Hospitals will continue to be the largest end-users of urodynamic devices, with sales poised to exceed US$ 150 Mn in revenues by 2022-end. Largest share of the revenues from sales of urodynamic devices in hospitals will be accounted by North America, representing over one-third share of the market. However, sales of urodynamic devices in urology clinics are anticipated to exhibit the highest CAGR through 2022, based on end-users.

Competition Tracking

Key players participating in the global urodynamic devices market include Albyn Medical Ltd., Boston Scientific Corporation, Medica SpA, Neomedix Systems Pty. Ltd., Dantec Dynamics A/S, CooperSurgical Inc., LABORIE, Verathon Inc., and Best Medical International Inc.

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