URODYNAMIC EQUIPMENT MARKET ANALYSIS

Market Challenges And Opportunities

Urodynamic Equipment Market Drivers:-

Initiatives taken to increase awareness among people such as by World Continence Week organized by Continence Foundation of Australia is expected to support the global urodynamic equipment market growth. The World Continence Week 2017, aims to spread awareness regarding in continence. According to a study conducted by International Continence Society in 2018, the prevalence of urinary incontinence in women is 28%, 16.1% in men, and 35% in senior citizens. This study also states that urinary incontinence is among the 10 most common diseases caused in both sexes. Moreover, aging is also one of the reasons that can cause urinary bladder related disorders. According to National Institute of Health in 2016, incidence of bladder cancer is 7 times more in senior citizens whose age is 65 and above. According to International Continence Society, individuals suffering from asthma or bronchitis are 38% more likely to have urinary incontinence. According to a study conducted by Asthma and Allergy Foundation of America and Centers for Disease and Prevention (CDC) in 2016, 1 out of 13 people are suffering from asthma i.e. about 25 million people are suffering from asthma in the U.S. In 2015, around 47.5% of children under the age of 18 had asthma. Therefore, increase in chronic and urinary diseases is driving growth of the urodynamic equipment market.

Market players are actively engaged growth strategies such as mergers and acquisitions to maintain leading position in the urodynamic equipment market. For instance, in April 2018, LABORIE Medical Technologies acquired COGENTIX Medical Inc. This acquisition will help in strengthening product portfolio of LABORIE Medical Technologies. However, high cost of equipment leading to expensive treatment procedures is restraining growth of the urodynamic equipment market size.