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In April 2018, Laborie acquired Cogentix Medical Inc., one of the leading players of urinary flow meters, to strengthen its position in the global market. The urinary flow meter is a medical device used for measuring the flow of urine. The measurement of urine flow is also referred to as uroflowmetry which is used for the measurement of the voided urine during urination. It also measures the speed of urination and is used to identify the causes of certain urination difficulties. Rising prevalence of bladder and prostate cancer, along with the rise in technological advancements in urinary flow meters, is expected to surge the urinary flow market during the forecast period. Urinary flow meters also help in determining how well the bladder and sphincter muscle (prevents urine leakage) is working. It also helps to identify the difficulties in urination, such as slow urination, weak urine stream, by measuring the average and maximum rates of the urine flow. Certain conditions that can affect the normal urine flow are bladder cancer, prostate cancer, neurogenic bladder dysfunction, benign prostatic hypertrophy.
Key Market Driver -
Rising prevalence of bladder and prostate cancer
Key Market Restraint -
High costs of urinary flow meters
Factors such as the rising prevalence of bladder and prostate cancer, the absence of substitute devices for uroflowmetry, and the rise in technological advancements in urine flow meters are considered to drive the growth of the global urinary flow meters market. According to an article published by the National Centre for Biotechnology Information (NCBI), prostate cancer is the second most frequent cancer diagnosis made in men. Based on the estimates by GLOBOCAN, in 2018, 1.2 million new cases of prostate cancer were reported worldwide which is anticipated to boost the market growth during the forecast period. However, high costs of the urinary flow meters, lack of skilled labour and healthcare facilities in emerging countries, lack of awareness, and access to healthcare are projected to hamper the market growth of the market during the forecast period.
Some of the major companies that are present in the urinary flow meters market include Apex-MediTech, Cogentix Medical Inc. Digitimer Ltd., Laborie, Inc. CellSonic Medical Medizintechnik GmbH & Co. KG and others.
North America is projected to dominate the global urinary flow meters market over the forecast period, followed by Europe. The dominance of this region is mainly attributed to the rising prevalence of bladder and prostate cancer, the significant adoption of technologically advanced products, and high investment in the healthcare industry. According to the American Cancer Society, prostate cancer is the most common cancer in American men and according to their 2019 estimates, about 1,74,650 new cases of prostate cancer were reported in the US.
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This is projected to fuel the growth of the urinary flow meters market in this region during the forecast period. On the other hand, Asia Pacific is expected to witness the fastest growth in the upcoming years. The evolving healthcare infrastructure, expanded interest for developing novel treatment options, and the large population is suffering from bladder cancer considered to drive the growth of the market in Asia Pacific region. According to GLOBOCAN 2018 estimates, about 25,696 new cases of prostate cancer were reported in India. Latin America and Middle East America are also expected to have a substantial growth in the urinary flow meters market during the forecast period.
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