Global Urodynamic Equipment & Consumables Market Size, Share, Forecast Report, 2020-2027

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The global urodynamic equipment& consumables market is estimated to grow at a CAGR of 4.0% during the forecast period. The major factors contributing to the growth of the market include rising prevalence of the disease such as benign prostatic hypertrophy, bladder cancer, neurogenic bladder dysfunction and overactive bladder. Urodynamic evaluation is a procedure to determine how well the bladder, sphincters and urethra are storing and releasing urine. The urodynamic test helps to find the reason for urine leakage or blockage in the bladder. The test can be done by placing a small catheter into the bladder to measure the pressure generated with different actions. Growing government expenditure in the medical industry and increasing awareness about the urological disorders are propelling the growth of the urodynamic equipment market.



Segmentation



The global urodynamic equipment & consumables market is segmented based on type and end-user. Based on type, the market is classified into urodynamic equipment that includes uroflowmetry equipment, cystometer, ambulatory urodynamic systems, and urodynamic consumables that include catheters and Pumps and Transducer set. Based on end-user, the market is classified into hospitals and clinics, and ambulatory centers.



Urodynamic Equipment Finds Its Significant Applications in Hospitals and Clinics



Hospitals and clinics are anticipated to hold the major share in the market in 2018. Rising prevalence of urodynamic disorders and the availability of skilled professionals in hospitals and urology clinics are key attributes leading to increasing demand for urology equipment. Additionally, the growing preference of urologist and urogynecologist for urodynamic tests are boosting the growth of urodynamic equipment market in the segment. Moreover, the increasing number of hospitals and urology clinics in developed and developing countries are further strengthening the demand for urodynamic equipment in hospitals.



Regional Outlook



Geographically, the global urodynamic equipment& consumption market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is estimated to hold the major share in the market owing to the significant prevalence of the geriatric population and rising incidences of bladder cancer. According to the American Cancer Society, it is estimated to occur 81,400 new cases of bladder cancer in 2020 in which about 62,100 will be men and 19,300 will be women. Moreover, the presence of major companies in this region will further strengthen the growth of the market. These companies are significantly focusing on marketing their products across the globe and gain a competitive advantage.



The Asia Pacific to witness the highest growth in the market



Asia-Pacific is estimated to witness the highest growth during the forecast period. Major factors contributing tothe growth of the market in the region include the rising prevalence of urinary infections in countries like India and China and growing awareness towards urological diseases and their causes. Additionally, increasing healthcare expenditure and the increasing number of multi-specialty hospitals and urology clinics is further strengthening the market growth in the region. Moreover, the major companies are expanding their presence in these regions, which in turn, will likely contribute to the significant adoption of urodynamic equipment in the region.



Competitive Landscape



The major companies providing urodynamic equipment& consumables include Albyn Medical Ltd., Boston Scientific Corp., CooperSurgical, Inc., Medtronic PLC, and Laborie, Inc. These players are continuously adopting several strategies in order to capture market share. For instance, in March 2017, LABORIE Medical Technology announced the acquisition of ANDROMEDA Medizinische Systems GmBH to expand its Urodynamic product offering in Europe, specifically in Germany.