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Urodynamic systems comprised of the tools and equipments created to observe the functions of the urinary tract by studying physical measurements with bladder pressure and flows rates. These systems are user-friendly, provide correct information, compact, and portable. These system can study the efficiency of bladder, sphincters, and urethra to accumulate and discharge urine. These systems are used to diagnose seepage of urine, recurrent urination, pain while urination, problem to begin a urine flow, incomplete bladder discharge, and recurring urinary tract infections. The overall growth of the urodynamic systems is driven by the factors such as increase in the urological problems, availability of diagnostics and treatment, and presence of large pool of potential patients.
Increase in the incidence of the lower urinary tract symptoms (LUTS) and urological disorders are propelling the growth of the market. According to the SAGE Open Nursing journal 2018, lower urinary tract symptoms were expected to affect 2.3 billion people in 2018, with 44.7% being men. Moreover, rising incidence of benign prostatic hyperplasia (BPH) in elderly men population is considered as one of the most common disorder. According to the Journal of European Urology, the incidence of BPH is estimated to be 15 % in men, and approximately 30 million men have symptoms related to BPH worldwide. Furthermore, rising adoption of urodynamic analyzers and growing awareness of urological problems are also expected fuel growth of the market.
However, high cost of urology devices and strict regulatory policies for the approval of medical devices are obstructing the growth of the market.
Key Market Driver -
Increase in the incidence of urological disorders and benign prostatic hyperplasia are boosting the market growth
Key Market Restraint -
High cost of urology devices and strict regulatory policies are likely to hinder the market growth
Globally, the urodynamic systems market can be segmented on the basis of type, end-users, and region. Based on the type, the market can be segmented into uroflowmetry, electromyography, cystometric test, leak point pressure measurement test, and others. Based on the end-users the market can be segmented into hospitals, clinics, ambulatory surgical centres, and others.
Geographically, the urodynamic systems market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Some of the major companies that are present in the Urodynamic Systems market are Boston Scientific Corporation, STORZ MEDICAL AG, Albyn Medical Ltd., Medtronic, CooperSurgical Inc., Verathon Inc., Laborie, Inc. and other prominent players.
Geographically, the urodynamic systems market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North American region is projected to hold the significant share of the market and it is also expected to hold its dominance in the forecast period. The market growth in this region can be accredited to the presence of world class healthcare infrastructure and growing awareness regarding urological diseases. Moreover, availability & adoption of technologically advanced products and favorable reimbursement scenarios are also driving the market in this region. Europe is projected to be the second most lucrative market throughout the forecast period. The factors such as growing adoption of innovative medical devices, increases in the incidences of BPH and rise in geriatric population in this region are likely to boost the growth of the urodynamic systems market in this region. However, Asia-Pacific holds the greatest potential for the growth of the market. Rising elderly population, presence of large patient pool, increase in the incidences of LUTS and increase in the purchasing power of countries in this region are the major factors driving the growth of the market in this region. The market in Latin America and the Middle East and Africa are expected to grow reasonably in the forecast period.
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