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The significant factor attributing to the market’s growth is the rising incidence of kidney and urinary tract diseases. Kidney and urinary tract diseases account for about 8,30,000 deaths and 18,467,000 disability-adjusted life years annually, making it the12th leading cause of deaths. Furthermore, patients suffering from chronic kidney disease (CKD) often have other health complications, such as cardiovascular and cerebrovascular diseases.
According to the American Urological Association Foundation (AUAF), benign prostatic hyperplasia (BPH), urinary incontinence (UI), urinary tract infections (UTIs), and kidney and ureteral stones are among the most common urological disease. With high incidence rates and health complications associated with urological diseases, there is an increasing demand for healthcare interventions to manage them, which, in turn, is propelling the market of urodynamic equipment.
Key Market Trends
Uroflowmetry Equipment Segment is Expected to Hold the Largest Market Share in the Urodynamic Equipment Market
The Uroflowmetry equipment is the equipment that is used to measure the flow of urine. It tracks how fast urine flows, how much flows out, and how long it takes. It is generally used by the patients who are found facing trouble in urinating or have a slow stream. It also usually done in privacy to ensure that the person voids in a natural setting.
Furthermore, with the increasingly high incidence rates of urological disease-related health risks, there is a growing demand for health care treatments to treat them, which in turn propels the uroflowmetry equipment market.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to maintain its supremacy in the overall urodynamic equipment market, throughout the forecast period. This is owing to factors such as the rising prevalence of kidney and urinary tract diseases and the growing geriatric population.
However, according to the United States Department of Health and Human Services, the overall prevalence of CKD among the American adult population is about 15% in the year 2019, and almost half of the individuals with CKD suffer from diabetes and/or cardiovascular diseases. Annually, more than 661,000 Americans suffer from kidney failure, and 468,000 patients are given dialysis are also some of the main factors ensuring the dominance of the region.
The urodynamic equipment market is moderately competitive and consists of a few major players. In terms of market share, few of the major players are currently dominating the market. And some prominent players are vigorously making collaborations, acquisition, and launching new products with the other companies to consolidate their market positions across the globe. Some of the companies which are currently dominating the market are Medtronic plc, Becton, Dickinson and Company, Albyn Medical S.L., Boston Scientific Corporation, and Coopersurgical, Inc.
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