Urinary Flow Meters Market Size to Surpass USD 34.9 Million by 2030, exhibiting a CAGR of 8.3%

As per the report by Fortune Business Insights, the global urinary flow meters market size is projected to reach USD 34.9 million in 2030, at a CAGR of 8.3% during the forecast period, 2023-2030

Urinary Flow Meters Market

Pune, India, Oct. 19, 2023 (GLOBE NEWSWIRE) — The global urinary flow meters market size is projected to grow from USD 19.9 million in 2023 to USD 34.9 million by 2030, exhibiting a CAGR of 8.3% during the forecast period. Urinary flow meters are used in hospitals and specialty clinics to evaluate the diagnosis of different urological conditions.

Fortune Business Insights™ mentioned this in a report titled, “Urinary Flow Meters Market, 2023-2030.”

Key Industry Development-

April 2023 – MINZE HEALTH participated in the American Urology Association Meeting in Chicago. The company has displayed its cloud-based urloflowmeters, which can be used at several private practices and hospitals.

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Key Takeaways:

• The growing prevalence of urinary tract disorder is expected to drive market growth during the forecast period.
• Urinary Flow Meters devices help in diagnosing diseases, including urine retention, benign prostate hyperplasia, and urine leakage.
• Growing demand for high-quality devices and the rising number of product launches are expected to boost market growth over 2023-2030.
• North America generated USD 7.4 million in the market in terms of market revenue in 2022.
• Segment is projected to expand at a substantial CAGR during the forecast period.

List of Key Players Present in the Report:

“Companies leading the Urinary Flow Meters Market are MINZE HEALTH (Belgium), Oruba Technology & Innovation (Turkey), tic Medizintechnik GmbH & Co. KG (Germany), Potent Medical (China), Laborie (U.S.), Apex MediTech (India), Status Medical Equipments India Pvt Limited (India), Medica S.p.A (Italy)”

Report Scope:

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Segments-

PC Based Urinary Flow Meters Segment’s Growth Augmented Due to Increasing Prevalence of Urologic Diseases

By type, the market is segmented into PC Based urinary flow meters and Non-PC Based urinary based flow meters. The PC Based urinary flow meters segment held the highest market share in 2022 and is projected to grow at the highest CAGR during the forecast period. The segment’s growth is attributed to the rising prevalence of urologic diseases and the high demand for urinary flow meters globally.

Growing Number of Patient Visits Drive Hospitals Segment Growth

Based on end-user, the market is classified into hospitals, specialty clinics, and others. The hospitals segment is estimated to grow at a significant CAGR and dominated the urinary flow meters market share in 2022. The rising number of patients visiting hospitals for the diagnosis of urological disorders drives the segment’s growth.

Geographically, the market is studied across North America, Europe, Asia Pacific, and Rest of the World.

By Type

• PC Based Urinary Flow Meters
• Non-PC Based Urinary Flow Meters

By End-user

• Hospitals
• Specialty Clinics
• Others

By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

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Drivers & Restraints-

Urinary Flow Meters Thrives Due to Increasing Prevalence of Urological Disorders

The rising prevalence of urological diseases, including benign prostatic hyperplasia, enlarged prostates, bladder cancer, prostate cancer, and urinary incontinence, is expected to drive the urinary flow meters market growth during the forecast period. The growing adoption of these devices for diagnosis in specialty clinics and hospitals drives market growth. The growing prevalence of urinary incontinence among women globally propelled the demand for these products.

Lack of awareness, high costs, and lower healthcare expenditure in the developing nations will hamper market growth during the forecast period.

Regional Insights-

North America Dominates the Market Due to Rising Patient Visits in the Region

North America is estimated to dominate the market during the forecast period and accounted for USD 7.4 million in 2022. The growth was attributed to the rising patient visits to diagnose urological diseases, such as prostate cancer, benign prostatic hyperplasia, and bladder cancer in the region.

Asia Pacific is estimated to grow at the highest CAGR during the forecast period. The increasing adoption of urinary flow meters with the rising geriatric population is expected to drive market growth.

Competitive Landscape-

Growing Adoption of Various Strategies by Key Players Propel Market Growth

The key players operating in the market include tic Medizintechnik GmbH & Co. KG, Apex MediTech, Status Medical Equipments India Pvt Limited, Prometheus, MINZE HEALTH, and several other small & medium-sized players. The increasing adoption of partnerships, collaborations, and new product launches by key players is estimated to drive market growth during the forecast period.

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FAQs

How big is the Urinary Flow Meters Market?

Urinary Flow Meters Market size is USD 19.9 million in 2023 and it is expected to reach USD 34.9 million in 2030.

How fast is the Urinary Flow Meters Market growing?

The Urinary Flow Meters Market will exhibit a CAGR of 8.3% during the forecast period, 2023-2030.

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• Urinary Flow Meters Market