Positive Reimbursement Changes in BPH Treatment Drives the U.S. Urological Device Market: Led by American Medical Systems, Olympus and Karl Storz
Vancouver, BC (PRWEB) November 25, 2014 -- According to an in-depth U.S. urology report, from iData Research, the leading global authority in medical device market research, the U.S. urological market is expected to approach $3 billion by 2020. Growth can be attributed to the increasing incidence of BPH and reimbursement changes.
More than 125 CPT and ICD-9 procedure codes as well as over 500 responses from surveys were examined and incorporated into analyses for procedure volumes. The research included studies for such urological disorder treatment devices for BPH, which describes the enlargement of the prostate, stone management nephrostomy, urodynamic, urinary incontinence and erectile dysfunction management.
iData’s research concluded approximately over 230,000 BPH procedures are expected to be performed by 2020. “The population of males over 65 years of age is a significant driver for non-drug BPH treatment” says Dr. Kamran Zamanian, CEO of iData. “Drug treatments can lose efficacy over time. Approximately half of men exhibit evidence of BPH by age 50, a proportion of which increases to 75% by age 80.”
Significant Growth in the BPH Treatment Market
Transurethral resection of the prostate (TURP) is the most common treatment of BPH and accounts for over 45% of procedures. Continued increase in reimbursement rates for outpatient TURP procedures will help drive the market. In 2014, the national hospital outpatient reimbursement rate for TURP procedures increased by 5% over 2013.
Procedures that are less invasive than TURP carry fewer risks of complications, making them preferable. These include transurethral microwave thermotherapy (TUMT), transurethral needle ablation of the prostate (TUNA), laser BPH and prostatic stents.
Competitors in the Urological Device Market
Leading competitors in the urological device market include American Medical Systems with their significant market share of BPH treatment devices, C.R. Bard, Coloplast, Boston Scientific, Karl Storz and Covidien.
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.
Receive a free synopsis of the U.S. Urological Device 2014 Market Research Report
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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