Market Trends of Urodynamic Equipment Industry
This section covers the major market trends shaping the Urodynamic Equipment Market according to our research experts:
The Uroflowmetry Equipment Segment is Expected to Hold Significant Market Share in the Market Over the Forecast Period
The uroflowmetry equipment segment is expected to witness significant growth in the urodynamic equipment market over the forecast period owing to factors such as the increasing burden of urological diseases such as urinary incontinence, rising chronically ill patients with the growing geriatric population, and technologically advanced products.
Uroflowmetry is a non-invasive diagnostic test used to diagnose patients with lower urinary tract symptoms. It measures the volume of urine released from the body, the speed with which it is released, and how long the release takes. It also aids in identifying the main cause and difficulties patient encounters while urinating. Thus, the accuracy in measuring the urine volume and assessing the exact reason and type of urological disease that causes urinary difficulties in the patients is high among these types of equipment as compared to other devices. This makes it more preferred, for most of the patients with suspected lower urinary tract dysfunction, over other devices.
Additionally, the rising incidences of benign prostate hyperplasia (BPH) condition in men also increases the need for uroflowmetry tests, which is expected to augment the segment's growth over the forecast period. For instance, from an article published by the National Center for Biotechnology Information in July 2021, it has been observed that the prevalence of BPH was 50% to 60% high in males in their 60s and 80% to 90% in those over 70 years of age. Furthermore, the increasing company activities in developing safe and effective diagnostic tests for measuring the urological condition among the population is also contributing to market growth. For instance, in November 2021, Oruba, a medical device company, launched the first self-operating uroflowmeter, Oruflow, that makes the screening procedure hygienic, safe, comfortable, and streamlined for both patients and physicians. Thus, owing to the aforementioned factors, the studied segment is expected to grow significantly during the forecast period.
North America is Anticipated to Hold a Major Share in the Market Over the Forecast Period
North America is expected to hold a significant share of the urodynamic equipment market over the forecast period. The factors attributed to the market growth are the increasing incidences of urological diseases and rising technological advancements in urodynamic equipment in the region. In addition, the rising geriatric population in the region is also expected to increase market growth. For instance, according to an article published by NCBI, in February 2021, it has been observed that urinary incontinence affects women disproportionately more than males and is significantly increased among women aged 60 years and older in the United States. Also, as per statistics published by the Fraser Institute, in July 2022, about 19% of the population living in Canada was aged 65 years and above, and this number is projected to reach 22.5% by 2030. Aging increases the risk of bladder problems such as bladder control issues and leakage or urinary incontinence. Thus, this is expected to increase the demand for urodynamic equipment for diagnosing and treating urological diseases over the forecast period.
Furthermore, the increasing product approvals and product launches in the region are also contributing to market growth. For instance, in July 2021, Gemini Medical Technologies launched a new line of urodynamics equipment by MEDKONSULT Medical Technology. Also, in February 2021, Health Canada approved Bactiguard's TempSensor catheter with a temperature sensor that reduces the risk of secondary infections such as catheter-associated urinary tract infection (CAUTI) in critically ill patients. Thus, owing to the aforementioned factors, the studied market is expected to grow significantly during the forecast period.
