Urodynamic Equipment and Consumables Market Growth Driven by Rising Urological Disorders
The global urodynamic equipment and consumables market size is expected to reach USD 449.2 million in 2030 and is projected to grow at a CAGR of 5.7% from 2024 to 2030. 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.
Gather more insights about the market drivers, restrains and growth of the Global Urodynamic Equipment And Consumables Market
Urodynamic Equipment And Consumables Market Report Highlights
- Uroflowmetry equipment accounted for the largest market share of 29.3% in 2023. 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 for a 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
Key Urodynamic Equipment And Consumables Company Insights
Some key companies in the urodynamic equipment and consumables market include Boston Scientific Corporation; Laborie; Verathon, Inc.; and others. Leading players in the urodynamic market are introducing innovative products and services, prioritizing accuracy, efficiency, and patient comfort. Strategic partnerships, mergers, and acquisitions drive market expansion and competitive advantage.
- Laborie Medical Technologies is an international company that creates, produces, and sells cutting-edge medical technology and supplies for diagnosing and treating Urinary and Fecal Incontinence, along with other pelvic floor disorders in the Urology, Gynecology, and Colorectal sectors.
- Verathon Inc (Verathon), a medical equipment manufacturer, offers a range of imaging and respiratory products, including video laryngoscopes, bronchoscopes, and airway visualization systems, for use in various medical specialties.
List of Key Players in Urodynamic Equipment And Consumables Market
- Boston Scientific Corporation
- Laborie
- Verathon, Inc.
- Digitimer Ltd
- Creo Medical
- SRS Medical
- Innova Medical Group inc.
- MEDKONSULT medical technology
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