The Global Urethral Dilators Market comprises medical devices that are used to gradually expand the size of the urethral opening and treat various urethral disorders through dilation. Some key advantages of urethral dilators include ease of use, minimal pain and complications, and ability to avoid invasive surgery in some cases. The increasing cases of urinary incontinence and other urethral disorders have fueled the demand for effective treatment options such as urethral dilation procedures, thereby driving the urethral dilators market.
The Global Urethral Dilators Market is estimated to be valued at US$ 243.3 MN in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Global Urethral Dilators Market are B. Braun Melsungen AG, BD, Cook Medical, MED pro Medical BV, Teleflex Inc., UROMED, Boston Scientific Corporation, Smiths Medical (ICU Medical), Urovision-Urotech, and Coloplast. These players are focusing on new product launches and geographic expansion to strengthen their market position. For instance, in September 2020, Boston Scientific Corporation launched the Duran Urethral Stricture Dilator Set to provide efficiency and precision in urethral dilation procedures.
The rising prevalence of Urethral Dilators Market Demand conditions such as urinary incontinence, strictures, and impacted urethral stones is a major factor driving the demand for urethral dilation procedures. According to the National Association for Incontinence, over 25 million Americans suffer from various urinary incontinence issues. Moreover, changing lifestyles and increasing risk factors for urinary problems are expected to further propel the demand.
The market players are focusing on expanding their geographic presence globally, especially in developing regions of Asia Pacific, Latin America, and Middle East & Africa. This is attributed to increasing healthcare expenditure, availability of advanced treatments, and growing medical tourism in these regions. For instance, in November 2020, UROMED announced the expansion of its business in the Indian market with a dedicated team to enhance its sales and marketing activities.
Market drivers
The increasing geriatric population is a key driver boosting the demand for urethral dilators as the elderly are more prone to age-related diseases like urinary incontinence. According to the UN data, there were around 703 million persons aged 65 years or over globally in 2019 which is projected to nearly double to 1.5 billion in 2050. Moreover, the favorable reimbursement and insurance coverage for urethral dilation procedures in developed nations encourages the market growth. Growing awareness regarding availability of minimally invasive treatment options and technological advancements in urethral dilators are further expected to propel the market during the forecast period.
Global Urethral Dilators Market: Impact of Geopolitical Situation and Outlook
The current geopolitical tensions and ongoing geopolitical issues are impacting the growth of the global urethral dilators market. The ongoing Russia-Ukraine war has disrupted the supply chains and manufacturing activities across Europe. This has negatively impacted the availability of raw materials and components required for manufacturing urethral dilators. Rising costs of raw materials due to supply issues are putting pressure on profit margins of manufacturers in the region. Furthermore, restricted trade with certain countries due to sanctions is hampering the export of urethral dilators from some regions. Medical device manufacturers will need to establish alternative supply sources, look for local substitutes and diversify their supplier base to mitigate risks arising from geopolitical tensions.
The ongoing trade war between US and China continues to create uncertainty in the global trade environment. Imposition of higher import tariffs on medical devices has increased sourcing costs for many US based manufacturers. Companies need to factor in these geopolitical risks and challenges while designing their long term growth strategies. Regionalization of production and expanding local manufacturing footprint closer to key markets will help reduce reliance on global/regional supply chains that are vulnerable to geopolitical disruptions. Collaboration with regional partners can also help address trade barriers and strengthen regional distribution networks. Overall, a flexible and adaptive supply chain will be crucial for urethral dilator companies to navigate the evolving geopolitical landscape in the coming years.
Geographical Regions with High Concentration in Global Urethral Dilators Market
North America currently accounts for the largest share in the global urethral dilators market in terms of value sales. This is attributed to the availability of advanced healthcare facilities, growing prevalence of urological diseases, and continued development and adoption of new generation urethral dilators. The United States represents the major revenue generator within the North American region. Europe is another lucrative regional market driven by rising incidences of prostate diseases among aging population and growing awareness about urinary tract infection treatments. Germany, U.K. and France collectively dominate the European urethral dilators market.
Fastest Growing Region in Global Urethral Dilators Market
Asia Pacific region is poised to witness the highest growth during the forecast period in the global urethral dilators market. This isDue rapid economic development, rising healthcare expenditures, growing incidences of urinary diseases and increasing focus of global medical device companies on emerging Asian economies. China and India are expected to spearhead the market growth in Asia Pacific due to rising patient pool, growing medical tourism, and increasing collaboration between private and public players in healthcare sector. Several factors like rising standards of living, growing medical insurance penetration and increasing access to modern diagnostics and treatment options are supporting the overall expansion of Asia Pacific urethral dilators market.
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