Global Urometer Market Report 2023: E-commerce Sites are Expanding Market Penetration
Dublin, March 16, 2023 (GLOBE NEWSWIRE) -- The "Urometer Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 To 2031" report has been added to ResearchAndMarkets.com's offering.
The global urometer market is anticipated to expand at a CAGR of 7.5% during the forecast period of 2023 and 2031.
Medline Industries Inc.
Forlong Medical Co. Ltd.
Hitec Medical Co. Ltd.
Observe Medical ASA
The rising prevalence of urological illnesses, including urinary retention, cystitis, benign prostatic hyperplasia, urine incontinence, and kidney stones, which result in bladder dysfunction, is predicted to be one of the primary reasons driving market expansion.
In addition, the increasing geriatric population, the increasing initiatives of various non-profit organizations, and the demand for home healthcare facilities all contribute to the expansion of the market.
Increasing Geriatric Population
The increasing geriatric population is another significant element driving market expansion. According to the World Health Organization, urine incontinence is a relatively widespread disorder among those aged 60 and beyond. In older adults, stress and urge incontinence are the most common types of urine incontinence.
According to the same source, the global population aged 65 and older is projected to increase from 7.0% in 2000 to 16.0% in 2050. The elderly are more likely to have bladder control issues, such as incontinence, leakage, chronic kidney disease (CKD), and retention.
The United Nations projects that by 2030, 22% of the U.S. population will be over the age of 65, with those over the age of 75 constituting the fastest-growing segment. The Asia-Pacific and European regions have a population that is at least 65 years old on a global scale.
In 2019, 28 percent of Japan's total population (126 million) consisted of people aged 65 and above, while Italy ranked second with 23%. Urinary Incontinence (UI) is one of the most prevalent medical diseases in which urometers play a significant role in urine collection, particularly for patients with limited mobility and bedridden patients. Globally, UI is a very common condition.
Increasing Incidence of Urinary Issues across Genders and Various Disease Conditions
It can be caused by circumstances such as coughing, sneezing, pregnancy, childbirth, and obesity, among others. In addition, patients with spinal cord injury or disease, multiple sclerosis, Parkinson's disease, cerebrovascular accident, or enlarged prostate also experience long-term urinary retention, necessitating the use of a urometer system.
According to the National Institute of Diabetes and Digestive and Kidney Diseases, the incidence of urine retention ranges from 4.5 to 6.8 per 1,000 males between the ages of 40 and 83 but climbs to 100 per 1,000 men in their 70s. The incidence of acute urinary retention in men older than 80 years was 300 per 1,000 men.
In addition, women are more susceptible to UI due to menopause, pregnancy, and hormonal fluctuations. The prevalence of urine incontinence in pregnant women ranges between 32 and 64 percent, according to a study published in NCBI. As a result, the increasing prevalence of urological dysfunctions and associated procedures has increased the demand for urine drainage bags with urometer systems for post-operative convenience.
This feature is anticipated to have a favorable effect on market growth throughout the forecast period. In addition, urine retention is more prevalent in the elderly due to bladder neck obstruction, neurological issues, and posterior urethral stricture. According to the American Society of Nephrology, urologic illnesses are the third most prevalent complaint among the elderly, accounting for around 47.0% of physician visits.
The incidence of chronic kidney disease is likewise increasing as the global old population grows. According to the National Health and Nutrition Examination Survey (NHANES) and the National Renal Foundation, approximately 57.3% of all patients receiving treatment for kidney failure in the United States are men. According to the National Kidney Foundation, ten percent of the world's population suffers from chronic kidney disease, and millions of people die each year because they cannot afford treatment. Consequently, as the geriatric population grows, so does the demand for urine bags with urometers, driving market expansion.
E-Commerce Sites are Expanding the Market Penetration
In addition, the presence of numerous e-commerce sites that offer urometer care may boost product sales through this channel. Product penetration through online networks is rising rapidly because it enables end-users to compare and select products based on brand, type, price, and point of sale. Amazon, Clinisupplies, Vitality Medical, Shop Catheters, Nightingale (Great Bear Healthcare), and Express Medical Supply Inc. are notable e-commerce companies that provide discounts and rapid customer support on a variety of urine bags.
In addition, e-commerce platforms provide a product guarantee with assistance, access to unique bargains, and a return policy if the patient's expectations are not met. Consequently, the easy accessibility of various devices on internet platforms is anticipated to fuel market expansion in the coming years.
500ml Dominates the Market by Product Category
In 2021, the 500ml product group held a market share of over 32%. Due to the increased incidence of urinary incontinence, urinary bladder cancer, and urological illnesses, this segment is predicted to expand at the greatest CAGR throughout the forecast period. In addition, the increased number of prostate surgeries, bladder, urology &gynecology surgeries, kidney stone treatment, and other lengthy surgical procedures is driving up demand for 500 ml urometers. However, the increased risk of Urinary Tract Infections (UTIs) and skin irritation associated with the use of drainage bags and urometers may hinder market expansion.
Historical & Forecast Period
This study report represents an analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2023 to 2031.
Key questions answered in this report
What are the key micro and macro environmental factors that are impacting the growth of Urometer market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2031.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Urometer market?
Which is the largest regional market for Urometer market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Urometer market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Urometer market worldwide?
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