Sales of Pelvic Floor Diagnostics to Rise at 6.2% CAGR through 2031, With Ultrasound Systems Commanding Maximum Demand
The global pelvic floor diagnostics market is estimated to total US$ 1.8 Bn in 2021, find ESOMAR-certified consulting firm Future Market Insights (FMI) in a recent market study. With a favorable demand outlook, FMI projects the pelvic floor diagnostics market to grow at a 6.2% CAGR during the assessment period.
Increment in healthcare expenditure across the globe along with the rising demand for technologically advanced pelvic floor diagnostics are identified as chief factors augmenting growth of the global pelvic floor diagnostics market.
Disruptions in supply chains and lockdown restrictions had caused delayed treatment and diagnostic appointments worldwide, which hampered sales of pelvic floor diagnostic devices in 2020.
However, expedited vaccination drives and increasing research and developments in healthcare technology are anticipated to bode well for the market, which will register year-over-year growth of 7.0% in 2021.
Growing incidence of pelvic disorders among pregnant women and increasing awareness regarding the importance of early diagnosis of pelvic disorders are pressing upon the need for highly effective pelvic floor diagnostics devices.
Overall expansion of healthcare infrastructure has resulted in higher number of diagnostic imaging centers. This also is translating into impressive prospects for sales of latest technologies in ultrasound imaging systems for high-resolution imaging.
These developments, coupled with government policies favoring investment towards research and development will aid the overall market expansion.
FMI has forecast the U.S. to continue dominating the North America pelvic floor diagnostics market. Rising prevalence of pelvic disorders, coupled with rapid adoption of technological advancements in the healthcare sector will continue driving sales in the U.S.
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“Besides investment in research and development, market players are expected focus on strategic collaborations to encourage awareness among consumers and offer them advanced healthcare solutions,” says the FMI analyst.
- Sales of ultrasound systems are projected to grow at a 5.7% CAGR, holding 37.7% of the total market share.
- Applications of pelvic floor diagnostics in hospitals are anticipated to rise at a 5.5% CAGR. The segment is projected to account for 64.2% of the total market share in 2021.
- The U.S. is estimated to account for 81.5% of the North American pelvic floor diagnostics market share, owing to a subsequent rise in healthcare expenditure.
- The U.K. will emerge as an attractive market, growing at a 5.8% CAGR over the forecast period.
- The Brazilian pelvic floor diagnostics market will continue exhibiting high demand, expanding at a 5.5% CAGR.
- Sales prospects of pelvic floor diagnostics in Mexico are projected to be bright, accounting for 38.4% of the total market share.
- Japan and South Korea are anticipated to account for 32% and 19% of the total market share respectively.
- Surging prevalence of pelvic floor disorders especially among pregnant women has fuelled the demand for advanced healthcare.
- Rising healthcare spending and favorable reimbursement policies will encourage research initiatives in the market, enabling growth over the forecast period.
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Leading players operating in the global pelvic floor diagnostics market are investing in research and development to offer innovative and efficient pelvic floor diagnostic devices. In addition, collaborations, mergers, and acquisitions for production facility expansion will remain a part of lucrative growth strategies. For instance:
- In March 2021, HOYA Corporation signed a five-year contract with Hitachi for technical advancements and the supply of diagnostics ultrasound systems and ultrasound sensors.
- In June 2021, Neusoft Corporation unveiled its product portfolio comprising medical imaging for diagnosis including NeuAngio 30F high-speed floor-mounted DSA system.
Leading players operating in Pelvic Floor Diagnostics Market profiled by FMI include:
- LABORIE Inc.
- CooperSurgical Inc.
- SRS Medical
- Medtronic Plc
- MEDKONSULT medical technology s.r.o.
- Albyn Medical
- PENTAX Medical
- Olympus Medical Systems
- EndoMed Systems
- Richard Wolf
- Schölly Fiberoptic
- Zhuhai Seesheen Medical Technology
- KARL STORZ
- The Prometheus Group
- Noraxon USA
More Insights on FMI’s Pelvic Floor Diagnostics Market
The latest market study on the pelvic floor diagnostics market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global pelvic floor diagnostics market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
- Urodynamics Systems
- Uroflowmetry Devices
- Anal Manometry Systems
- Ultrasound Systems
- Cart/Trolley Based
- Portable Bladder Ultrasound Systems
- Diagnostic Imaging Centers
- Specialty Clinics
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa
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