Challenges abound as demand for urinary incontinence devices grows, says Frost & Sullivan
The U.S. urological devices market will continue to grow due to steady product demand from an aging patient population suffering from a range of urinary-related afflictions.
New analysis from the healthcare group at Frost & Sullivan (www.healthcare.frost.com), U.S. Urological Devices Market, shows revenues growing from approximately $473 million in 2000 to more than $562 million by 2007.
"With nearly 25 million people in the U.S. suffering from urinary incontinence, demand for urological devices will increase as patients gain greater awareness of the available treatment options and products," says Frost & Sullivan Medical Device Analyst Collin Tam. "Regardless of patient awareness and demand for such equipment, the lack of healthcare provider reimbursement presents a big challenge for this market."
Gaining approval for a new product by the Food and Drug Administration (FDA) does not necessarily materialize into reimbursement by Medicare. Manufacturers should be prepared for extensive clinical testing to prove cost-effectiveness of the device. Only then can products receive the necessary Medicare reimbursement codes.
Another challenge facing market participants is the common occurrence of urinary tract infections experienced by many patients. Developing new, innovative catheters with lower infection rates can help manufacturers expand their market share. Market participants who have developed anti-microbial products have experienced an increased patient base as these innovations reduce the rate of infection.
Urinary implants (UI), which are utilized in urethral sling operations, are also forecast for steady growth as urethral sling procedures increase in popularity due to an impressive success rate in eliminating incontinence.
"The urethral sling procedure is the main choice for women with severe stress incontinence. As this procedure continues to grow, more companies are expected to focus on sling technologies," states Tam.
Frost & Sullivan presents the 2001 Marketing Engineering Awards to companies that have worked diligently to make a positive contribution to the urological devices industry. These market specific awards are presented to Bard Urological, Carbon Medical Technologies and Empi.
Frost & Sullivan is a global leader in international strategic market consulting and training. This ongoing research is part of the frost.com Medical Devices Monitor Service, which includes market analyses on the U.S. Endoscope Markets and the U.S. Needles, Syringes and Needleless Device Markets. For more information, contact Nick Mariottini at nmariottini@frost.com .
Source: Frost & Sullivan
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