The projected total valuation of the pelvic floor diagnostics industry for 2023 is anticipated to reach US$ 2,056.74 million. Looking ahead to 2033, the market’s estimated worth is expected to reach US$ 3,753.39 million, driven by a steady CAGR of 6.2%.
Furthermore, the report foresees a robust 8.2% CAGR in the demand for uroflowmetry devices and anal manometry systems throughout the assessment period.
The growth of the pelvic floor diagnostics industry can be primarily attributed to the increasing global prevalence of pelvic floor disorders and the escalating healthcare expenditure. The introduction of technologically advanced diagnostic systems and government support has spurred a heightened demand for reliable and comprehensive diagnostic solutions.
Enhancements in reimbursement structures have incentivized manufacturers to invest in the pelvic floor diagnostic sector, thereby creating a favorable environment for sustained growth through the year 2033.
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Rising healthcare expenditure, along with growing government support by funding and faster approvals has led to the establishment of pelvic floor diagnostic laboratories and a larger number of professionals.
The rising number of grants by private and government players for pelvic floor diagnostics has increased the focus on innovative research solutions for the development of advanced testing systems.
Healthcare standards with advanced diagnostic procedures have gained ground during the last two decades and with the rise in income and the increased investments in research. The pelvic floor diagnostics market has experienced a substantial shift in the adoption of molecular diagnostic devices.
Key Takeaways from Pelvic Floor Diagnostics Market Study
- Ultrasound systems are expected to reach a revenue share of 37.1% in 2021 with a growing CAGR of 5.7% during the forecast period.
- Hospitals will drive sales accounting for over 60% of value share through 2031, owing to higher spending capacity.
- Mexico will reflect a 6.1% CAGR through 2031, supported by growing access to superior medical facilities.
- K. and France are leading markets in Europe, accounting for over 20% and over 18% of the Europe market respectively in 2021.
- The U.S. is North America’s largest and fastest-growing market, exhibiting a 5.7% CAGR through the forecast period.
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“The growing global geriatric population is prone to pelvic floor disorders. Consequently, advancements in diagnostics including imaging and ultrasound systems, coupled with investments in research and academic bodies are set to boost the growth of the pelvic floor diagnostics market over the coming decade,” says a Future Market Insights analyst.
Investments in Tech Development to Offer Growth Opportunities
The pelvic floor diagnostics market has emerged as a lucrative area of research concerning pelvic dysfunction. The development of imaging technology is gaining traction with the rising demand for high-resolution images.
The demand is fueled by increasing awareness among the growing population about the diagnostic options available. Ultrasound systems offer reliable high-resolution imaging. The evolution in the processes involving detection, diagnosis, and treatment of associated diseases is anticipated to cause a demand surge in the pelvic floor diagnostics market.
Who is winning?
Key players in the pelvic floor diagnostics market are focusing on tapping market potential through strategic mergers and acquisitions. This is driven by efficiency in innovative and specialized product portfolios. The market is also set to expand due to increasing activities in research and development to diagnose pelvic floor disorders.
Some of the leading players in the pelvic floor diagnostics market include but are not limited to Laborie, Inc., Cooper Surgical Inc., Medtronic Plc., SRS Medical, Stryker’s, MEDSPIRA, MEDKONSULT medical technology s.r.o., EndoMed Systems, Richard Wolf, Schölly Fiberoptic, Zhuhai Seesheen Medical Technology, KARL STORZ, Cadwell, The Prometheus Group, Neurosoft, Noraxon USA.
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Segments:
By Product:
- Urodynamics Systems
- Uroflowmetry Devices
- Anal Manometry Systems
- Cystoscopes
- Ultrasound Systems
- Cart/Trolley Based
- Portable Bladder Ultrasound Systems
- EMG
By End User:
- Hospitals
- Diagnostic Imaging Centers
- Specialty Clinics
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