Urodynamic Equipment and Consumables Market Dynamics - 2031
The urodynamic equipment and consumables market size 2021 stood at US$ 192.6 million and is projected to reach US$ 389.7 million by 2031 from US$ XX billion in 2023. The market is expected to register a CAGR of 8.8% in 2023–2031. The growing use of smaller and more portable urodynamic equipment, focus on patient comfort and experience through minimally invasive techniques, and integration of wireless technology in urodynamic equipment will likely remain critical urodynamic equipment and consumables market trends.
Urodynamic Equipment and Consumables Market Analysis
The urodynamic devices and consumables market is expected to grow significantly owing to the growing world's aging population, leading to higher chances of urological diseases and urinary incontinence, thereby driving the demand for diagnostic and treatment. Further, technological advances have also led toward the development of accurate and minimally invasive urodynamic testing devices, which improve diagnostic capabilities and patient comfort. In addition, rising healthcare spending, especially in the emerging countries, also facilitates market expansion. Moreover, increasing awareness regarding urological health and the importance of early diagnosis and treatment further helps individuals to get medical attention, thus, boosting market growth.
Urodynamic Equipment and Consumables Market Overview
Urodynamic equipment and consumables are essential for diagnosing and treatment of various urological diseases, which enables healthcare professionals to view and examine the bladder and urethral function correctly. Urodynamic devices and consumables help the medical professionals in performing urodynamic testing precisely and effectively using a variety of tools (catheters, electromyographs, cytometers, pressure transducers, and uroflowmetry systems) and consumables (tubing, sensors, and catheterization sets). The market has grown steadily in recent years, because of the increasing cases of urological diseases, technological advances in the urodynamic devices, and growing awareness regarding early diagnosis and treatment. In addition, the healthcare providers are prioritizing patient-centric care and investing in state-of-the-art diagnostic tools, which further boosts the growth of the urodynamic devices and consumables market in the future.
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Urodynamic Equipment and Consumables Market: Strategic Insights
Market Size Value in US$ 173.7 million in 2019 Market Size Value by US$ 283.8 Million by 2027 Growth rate CAGR of 6.5% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Urodynamic Equipment and Consumables Market: Strategic Insights
| Market Size Value in | US$ 173.7 million in 2019 |
| Market Size Value by | US$ 283.8 Million by 2027 |
| Growth rate | CAGR of 6.5% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Urodynamic Equipment and Consumables Market Drivers and Opportunities
Rise in Prevalence of Urinary Incontinence to Favor Market
Various medical conditions are linked with urinary incontinence (UI). A mild or occasional leaking of uncontrolled chronic urination is one of the most common problems caused due to UI that affects a significant number of people globally. The increasing prevalence of various chronic diseases (cardiovascular diseases (CVDs), prostate cancer, kidney diseases, diabetes, and multiple sclerosis), growing geriatric population, and stress caused due to changing lifestyles adds up to the chances of UI. UI affects more women than men of any age. According to WHO, the total population aged 60 and above in 2020 was 1 billion and is expected to reach to 1.4 billion by 2030, which increases the cases of chronic diseases thereby driving the market. According to a urology report of January 2020, one in 10,000 to 50,000 children were born with bladder exstrophy-epispadias complex (BEEC). BEEC is a congenital illness that impacts the inferior abdominal wall by failing it to grow, and thus the bladder is developed outside the body. As per an article by Mayo Clinic Health System, in 2022, uncontrolled urine leakage was a common symptom that affected half of adults, and the frequency of this condition grows with age, with up to 75% of women aged 65 and above suffering from urine leakage. Therefore, the rising prevalence of UI is driving the market's growth.
Government Initiatives for Incontinence Treatment
Government initiatives that are primarily focused on the treatment of incontinence provides a compelling growth opportunity for the urodynamic equipment and consumables market. For the purpose of addressing the increasing prevalence of UI especially among the aging populations, the governments all around the world are prioritizing public health initiatives, by investing in healthcare infrastructure and reimbursement policies that are in turn creating an environment for adopting advanced urodynamic technologies. By promoting awareness campaigns on incontinence management and urodynamic testing, governments are boosting the demand for urodynamic equipment and consumables, thereby driving market expansion. In addition, government regulations and quality standards help in ensuring the safety and effectiveness of the equipment and consumables which further increase the trust between healthcare providers and patients. Therefore, the growing healthcare needs and support from the government provides growth opportunities for the market through innovating new treatment options for UI.
Urodynamic Equipment and Consumables Market Report Segmentation Analysis
Key segments that contributed to the derivation of the urodynamic equipment and consumables market analysis are component, application, and end user.
- Based on type, the urodynamic equipment and consumables market is divided cystometer, uroflowmetry equipment, ambulatory urodynamic systems, electromyographs, video urodynamic systems, and urodynamic consumables. In 2023, the uroflowmetry equipment segment held the largest share of the market. The ambulatory urodynamic systems segment is expected to grow at the fastest CAGR during the forecast years due to the benefits of the ambulatory systems such as affordability, greater portability, and real-time diagnosis to yield highly accurate results.
Urodynamic Equipment and Consumables Market Share Analysis by Geography
The geographic scope of the urodynamic equipment and consumables market report is divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America held the largest market share in the urodynamic equipment and consumables market. The market growth in North America is because of the heavy healthcare expenditure, especially for treating and diagnosing urological diseases. Growing investment in advanced equipment and consumables with favorable reimbursement policies in the region for urodynamic testing for early detection of diseases drives the market growth in the region. In addition, the region also has a well-established network of hospitals, clinics, and diagnostic centers that use latest medical technologies, for diagnostic and treatment of urological problems, which further increases the demand for urodynamic equipment and consumables in North America. However, the Asia Pacific is projected to register highest CAGR in the coming years.
Urodynamic Equipment and Consumables Market Report Scope
Urodynamic Equipment and Consumables Market News and Recent Developments
The urodynamic equipment and consumables market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for urodynamic equipment and consumables:
- Laborie Medical Technologies Corp. (Laborie) announced its investment in iO Urology, a venture-backed medical technology company that developed CarePath an at-home, handheld uroflow device that is FDA-approved and has been utilized in multiple urology clinics in the US. (Laborie, News, 2024)
- Laborie Medical Technologies, Inc. (Laborie), signed a definitive agreement to acquire Urotronic, Inc. (Urotronic), a Minnesota-based medical device company pioneering the application of its Optilume drug-coated balloon technology for use in interventional urology including treating urethral strictures and benign prostatic hyperplasia (BPH). (Source: Laborie, News, 2023)
- Gemini Medical Technologies, a privately held U.S.-based urodynamics diagnostics manufacturer, announced a new partnership today with UroGPO, a Specialty Networks Company, that will give urologists a new option for diagnostic testing. This agreement allows UroGPO members, at their discretion, access to Gemini's air-charged urodynamics catheter line, Atmos. (Source: Gemini Medical Technology, News, 2023)
Urodynamic Equipment and Consumables Market Report Coverage and Deliverables
The "Urodynamic Equipment and Consumables Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type , and Geography.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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