Urodynamic Equipment and Consumables Market Size is poised to witness substantial growth from 2022 to 2028. The rapid upsurge in urological diseases like urinary incontinence, benign prostatic hypertrophy, neurogenic bladder dysfunction, bladder cancer, overactive bladder, etc., will fuel product demand in the years ahead. Urodynamic equipment is used to test the overall functionality of the sphincter, urethra, and bladder and is also routinely deployed to test possible reasons of urine blockages or leaks.
The increasing geriatric population, in addition to the growing prevalence of strokes, diabetes, kidney, and nerve diseases, will propel the market growth in the projected time frame. Urine leakages among women during pregnancy, childbirth, and menopause may foster product adoption leading to market expansion.
Moreover, growing R&D activities by key industry players, leading to several technological innovations, may also change the industry outlook in the coming years. For instance, medical tech company Laborie Medical Technologies Inc., announced in June 2021, that the first Optilume® procedures were performed at NHS Trust in the UK. Optilume® is basically a drug-coated balloon (DCB) technology that is used in benign prostatic hyperplasia (BPH) and urethral structures and had been granted the CE Mark approval for usage in urethral strictures in Europe.
Based on type, uroflowmetry equipment is expected to witness substantial expansion over the forecast timeframe. Uroflowmetry equipment helps healthcare professionals to track the quantity and duration of the flow of urine and accesses the functionality of the urinary tract. It also checks any obstruction like enlarged prostate and weak bladder issues when combined with other tests like cystometrogram. These factors may push the urodynamic equipment and consumables market demand during the forecast period.
Hospitals may emerge as a major end-use segment experiencing considerable growth owing to the emerging number of patients suffering from urological disease across the globe. Since geriatric people are more susceptible to these diseases, they may require hospitalization for doctor's supervision and diagnosis. Additionally, hospitals are equipped with advanced tools and machines, making them the preferred treatment choice. Increasing government funding in the healthcare sector will boost the segment growth in the upcoming years.
North America and the APAC region may both account for substantial revenue in the urodynamic equipment and consumables market share. The growing prevalence of urinary disorders and the emerging geriatric population across the North American region will drive the regional growth. According to the statistics by the National Kidney Foundation, over 10 million of the American population suffers from urinary incontinence. Furthermore, the presence of major market players will lead to technological innovations fueling the regional urodynamic equipment and consumables market trends.
Increasing government funding for infrastructure development and favorable reimbursement policies for urological procedures will boost the industry growth in the APAC region.
Some of the crucial market players are Neomedix Systems, Unique Medical Devices, Best Medical International, Dantec Dynamics, LABORIE, Digitimer North America, CooperSurgical, Albyn Medical, RZ MEDIZINTECHNIK, Nael Medical, and MIROM Medical & Research Equipment. The industry players are adopting several growth strategies like R&D activities for new product innovations, brand acquisitions, long-term collaborations, mergers to maintain their position in the market.
With the implementation of nationwide lockdowns, travel and transport restrictions, and the shutting down of factories, COVID-19 deeply impacted the urodynamic equipment & consumables industry. The unavailability of raw materials and the growing risk of transmission affected the production and supply chain management of major enterprises all over the world.
But with the decline in the number of cases, increased vaccinations, and end of lockdown restrictions, the industry is set to make a comeback and may experience appreciable growth between 2022 and 2028.
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