The Global Pelvic Floor Diagnostics Industry is on a promising trajectory for significant growth, according to a recent industry analysis. The market, valued at an impressive US$2.06 billion in 2023, is expected to maintain a robust Compound Annual Growth Rate (CAGR) of 6.2% over the next decade. This translates to a projected market size of US$3.75 billion by 2033, reflecting continued expansion in this critical healthcare sector.
The trajectory of the Global Pelvic Floor Diagnostics Industry is drawing attention for its exceptional growth. This growth is driven by several factors, including technological advancements, increasing awareness about pelvic health, and a rising demand for diagnostic solutions. The industry’s commitment to innovation and addressing critical healthcare needs positions it as a key player in the global market.
Demand Surges Driven by Health Awareness and Advanced Imaging
The pelvic floor diagnostics industry is experiencing a surge in demand, primarily attributed to the increasing prevalence of related ailments, especially among pregnant women, and the growing awareness levels regarding pelvic floor diagnostic testing. This has prompted a rise in the adoption of advanced imaging systems, significantly contributing to superior patient outcomes.
U.S. Market Leads the Way with Advanced Diagnostic Device Adoption
Developed economies, notably the United States, are at the forefront of adopting advanced diagnostic devices in the pelvic floor diagnostics sector. This trend is further bolstered by favorable reimbursement scenarios, which, in turn, are propelling market growth. The U.S. healthcare and diagnostic infrastructure has advanced at an accelerated rate, driven by increased research and development activities in the healthcare sector.
In light of these developments, the global pelvic floor diagnostics market is set for a promising future. As it continues to evolve, industry leaders and innovators are poised to meet the growing demand for advanced diagnostic solutions and contribute to the well-being of patients worldwide.
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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 Global Pelvic Floor Diagnostics Industry 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 the largest and fastest-growing market in North America, exhibiting a 5.7% CAGR through the forecast period.
“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 industry over the coming decade,” says a Future Market Insights analyst.
Investments in Tech Development to Offer Growth Opportunities
The pelvic floor diagnostics industry has emerged as a lucrative area of research in terms of 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 the detection, diagnosis, and treatment of associated diseases is anticipated to cause a demand surge in the pelvic floor diagnostics industry.
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 industry 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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Global Pelvic Floor Diagnostics Industry 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
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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