KEY FACTORS SHAPING THE PORTABLE ULTRASOUND BLADDER SCANNER MARKET
Rising Demand for Non-invasive Bladder Scanning Procedures
According to a report published by the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) in 2018, Urinary tract infection accounted for about 8.1 million visits per year to healthcare providers. It is estimated that, each year, more than 13,000 deaths occur are associated with UTIs and about 80% of Urinary tract infection is caused due to catheterization known as catheter-associated urinary tract infection. This has led to the increase in demand for procedures that are non-invasive such as US bladder scanning.
With advantages of portability, the demand for US bladder scanners is increasing. Furthermore, increasing awareness among people about urological disorders and increasing number of patients for treatment contributes to rising demand for portable ultrasound bladder scanner procedures. Thus, growing demand for non-invasive painless procedures is expected to fuel the growth of the global portable ultrasound bladder scanner market.
Adoption of Advanced Diagnostic Procedures
Portable ultrasound bladder scanner is a user-friendly diagnostic procedure with high-end accuracy. The main benefit of portable bladder ultrasound scanner is its portability, reliability, cost effectiveness, and non-invasiveness.
Portable bladder ultrasound devices are automated, so can be also be used in the study of bladder biofeedback and monitoring of urinary incontinence after surgery. Portable ultrasound bladder scanner devices with advanced features are gaining attraction among healthcare professionals and patients, and the trend is expected to continue at a moderate rate during the forecast period.
Thus, increasing focus on user-friendly diagnostic procedures is expected to aid the growth of portable ultrasound bladder scanner market during the forecast period.
Strategic Acquisitions and Collaborations Benefitting the Market
Increased focus on acquisitions and collaboration among companies to expand their portable ultrasound bladder scanner product portfolio and cater to the demand for efficient healthcare system is expected to fuel the need for more effective and advanced medical equipment, devices, and procedures.
Acquisitions, over years, have resulted in strengthening of the leadership position of leading portable ultrasound bladder scanner market players. Thus, these strategies adopted by manufacturers are expected to fuel the growth of the portable ultrasound bladder scanner market.
PORTABLE ULTRASOUND BLADDER SCANNER MARKET STRUCTURE ANALYSIS
- The global portable ultrasound bladder scanner market is a moderately competitive market C. R. Bard, Inc., SRS Medical Systems Inc, and Laborie Medical Technologies Inc. are the major key players contributing to the maximum market share in terms of revenue.
- Expansion of the business through mergers, acquisitions, collaborations, and alliances are strategies followed by key players in the portable ultrasound bladder scanner market.
- Noteworthy increasing diagnostic applications of portable ultrasound bladder scanner in diagnosis of urological diseases are further anticipated to boost the growth prospects of the market.
- Global and local market players are benefiting from a significant marketing network of distributors.
Hospitals to Remain Most Prominent End User
By maintaining a market share of over 60% throughout the forecast period, hospitals are slated to remain the primary end-users of portable ultrasound bladder scanners. The cost-benefits provided by portable ultrasound bladder scanners during a hospital stay in comparison with postoperative catheterization is expected to aid the growth of the portable ultrasound bladder market. Further, as portable ultrasound bladder scanners are easy to use and significantly reduce the number of invasive catheterizations its adoption across hospitals has steadily increased.
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North America at the Forefront, APEJ Plays Catch up
North America and Western Europe account for nearly 3/5th of the global market value. Owing to the robust healthcare system, efficient reimbursement policies and high concentration of prominent players such as C.R. Bard, Inc., Laborie Medical Technologies Inc., and more, North America is expected to be at the forefront in terms of market share. Hospitals and diagnostic centers in the region remain the key revenue generators for market players. However, the market in the APEJ region is expected to grow at a promising pace in the near future owing to soaring demand from India and China.
Stakeholders Eye Product Launches to Gain Advantage
In recent years, owing to swift regulatory clearances, a barrage of new products has entered the market on the heels of growing demand for improved treatments for patients suffering from urological disorders. For instance, in 2015, the Food and Drug Administration (FDA) in the U.S. approved BBS Revolution a highly reliable, accurate, and non-invasive portable ultrasound bladder scanner predominantly used to measure bladder volume.
How Growth will Unfold
As per the study, 3D portable ultrasound bladder scanners are expected to remain highly preferred throughout the assessment period, accounting for over 90% of total revenue through the following decade. This is mainly attributable to its high degree of precision when measuring volume of urinary bladder and urinary tract infection testing.
PORTABLE ULTRASOUND BLADDER SCANNER MARKET TAXONOMY
The global portable ultrasound bladder scanner market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
- 2D Portable Ultrasound Bladder Scanner
- 3D Portable Ultrasound Bladder Scanner
- Diagnostic Centers
- Ambulatory Surgical Centers
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Middle East and Africa