Reliable Revenues Expected for Catheter Manufacturers: Urology Device Market Led by Coloplast and C. R. Bard
Vancouver, BC (PRWEB) October 07, 2014 -- According to in-depth reports from iData Research, the leading global authority on medical device market research, the combined U.S. and European markets for urological devices was valued at almost US$4.7 billion in 2013, with both Coloplast and C. R. Bard in the top 5 for both markets. The lion’s share of market value comes from urinary catheter sales, a low-priced medical device with enormous amounts of unit movement.
“Catheter sales have been the foundation of the urology device market for years,” explains Dr. Kamran Zamanian, CEO of iData, “with leading catheter companies also leading the urology market as a whole. This trend isn’t likely to abate either. Most other urology devices serve a niche, while urinary catheters are a necessity across many medical fields.” In the U.S. and Europe, the urological endoscope market was the second largest, with high priced devices useful for both diagnostic and treatment procedures.
Other key findings from iData Research’s reports on the European Market for Urological Devices and the U.S. Market for Urological Devices:
Inflatable Erectile Dysfunction Devices: In Europe, erectile dysfunction implants are usually only purchased by wealthy individuals, making the small market. In the U.S., these implants are notably reimbursed, making for a U.S. market almost three-times the size of that of Europe.
Stronger Growth in the U.S. Market: While different urology market segments show varying degrees of growth across the U.S. and Europe, kidney stone management and nephrostomy device markets are projected to grow much more significantly in the United States.
European In-Office Treatment: In general, the European urological device market is driven by physicians taking advantage of new and less invasive technology, and treating patients in an office setting as opposed to a hospital; European physicians often see greater reimbursement when treating patients in-office.
U.S. Hospital Treatment: In the U.S., the number of private practices owned and operated by one or two urologists has declined. More urologists are returning to the employment of hospitals or are becoming members of larger group practices. High overhead costs, partly due to malpractice insurance costs, contribute to the economic unsustainability of a private practice setting.
As of 2013, Coloplast led the urological device market in Europe, in no small part, to representing more than 40% of the urinary catheter market. Coloplast has a significant presence in the U.S. as well, mostly in terms of catheters, and has takem the second leading position. The leader of the U.S. market is C. R. Bard, who has dominated catheter sales, but has played a significant role in stone management, prostate cancer treatment, and nephrostomy devices. Other leading companies analyzedfor both the U.S. and Europe include American Medical Systems, Olympus, Boston Scientific, Karl Storz, Covidien and Richard Wolf.
For Further Information
The global report series on the Markets for Urological Devices covers the U.S., Canada, 15 counties in Europe, Japan, India and China. The full reports provide a comprehensive analysis including procedure numbers, units sold, market value, forecasts, as well as a detailed competitive market shares and analysis of major players’ success strategies in each market and segment. The reports cover devices used in the treatment of benign prostate hyperplasia (BPH), prostate cancer, and urinary incontinence as well as urinary and kidney stones. Other markets analyzed include urological endoscopes, urodynamic equipment and nephrostomy devices.
About iData Research
iData Research (http://www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Diabetes Drugs, Diabetes Devices, Pharmaceuticals, Anesthesiology, Wound Management, Orthopedics, Cardiovascular, Ophthalmics, Endoscopy, Gynecology, Urology and more.
Caroline Lau, iData Research, http://www.idataresearch.com, +1 604-266-6933 Ext: 215, [email protected]
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