Albany, NY -- (SBWire) -- 03/01/2018 --Leading players in the urodynamics equipment and disposables market include Albyn Medical, American Medical Systems, Covidien, LABORIE, C.R. Bard, and Medical Measurement Systems. Several players are exploring lucrative growth avenues in several emerging economies by offering solutions for various healthcare settings, in order to consolidate their presence, notes Transparency Market Research (TMR). The presence of a substantial patient pool in these markets is expected to provide substantial opportunities for these companies. Numerous companies are focusing on developing advanced diagnostic solutions for the management of urological dysfunctions in order to boost their offerings.
The urodynamics equipment and disposables market is projected to expand at a CAGR of 6.10% from 2014 to 2020. Rising at this pace, the market is estimated to reach a valuation of US$140.4 mn and by the end of 2020.
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The major product segments in the market are video urodynamics systems, urodynamics disposables, electromyographs, cystometers, ambulatory urodynamics systems, and uroflowmetry equipment. Of these, the ambulatory urodynamics systems segment is anticipated to rise at the leading CAGR over the forecast period. The demand for ambulatory urodynamics systems is mainly fueled by the advent of advanced microprocessor technology to deliver reliable outcomes. Geographically, North America is projected to lead the market over the forecast period. The growth is driven by the significant presence of urodynamic testing centers in the region.
Growing Prevalence of Lower and Upper Urinary Tracts Infections to Bolster Uptake
The growing prevalence of urological dysfunctions in populations in various developing and developed regions and the rising geriatric population are the key factors driving the market. The rising prevalence of urinary incontinence in adults, especially among women in developed nations such as the U.S., is a key trend boosting the demand for urodynamics equipment and disposables.
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The growing instances of diagnostic assessment of lower and upper urinary tracts using advanced urodynamics equipment is likely to catalyze the market growth. In addition, the easy availability of uroflowmetry equipment and their growing popularity among clinicians and patients are crucial factors likely to accentuate the urodynamics equipment and disposables market.
The availability of air-charged catheters that offer a convenient handling is expected to bolster the uptake of urodynamics disposables. The increasing spending of healthcare centers to adopt ambulatory urodynamics systems is a key development anticipated to boost the market. In addition, the advent of ergonomic designs and the inclusion of sophisticated electronics components in ambulatory urodynamics systems are the crucial factors expected to bolster the uptake over the forecast period. The widespread availability of these systems in developed and developing countries has accentuated the urodynamics equipment and disposables market.
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Lack of Reimbursement Policies to Hinder Market
However, the rising incidence of catheter-associated urinary tract infections (CAUTIs) is likely to hamper the demand for urodynamics equipment and disposables over the forecast period. In addition, the lack of favorable reimbursement policies is a crucial factor anticipated to suppress the demand in some regions. Nevertheless, the rising prevalence of urological dysfunctions and the growing demand for reliable and safe urodynamic testing equipment are anticipated to open up exciting opportunities for medical device manufacturers. The increasing patient pool in emerging markets is likely to provide lucrative growth avenues in the market.
Furthermore, the adoption of advanced software in ambulatory urodynamic devices has enhanced the reliability of test results, thereby boosting their adoption.
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Urodynamics Equipment and Disposables Market to Reach a Valuation of US $140.4 Mn and by the End of 2020
Global Urodynamics Equipment and Disposables Market: Inclusion of Advanced Microprocessor Technologies to Bolster Uptake across Ambulatory Settings, observes TMR