Urology Devices Market Size USD 60 billion by 2030

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According to Report, the urology devices market is expanding growth at a CAGR of 8% between 2021 and 2030 and is expected to reach USD 60 billion by 2030.

Urology Devices Market (By Product: Dialysis, Endoscopes, Endovision Systems and Peripheral Instruments, Laser and Lithotripsy, Robotic Systems, Urodynamic Systems, Urology Catheters, Biopsy Devices, Stents, Urology Guidewires, Drainage Bags; By End use – Hospitals, Dialysis Centers) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2021-2030

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Urology is the branch of science that focus on surgical and medical diseases of urinary tract systems. Urology is witnessing a shift toward less invasive treatment methods. Technologies such as minimally invasive surgery and robotic surgery are being rapidly adopted after being introduced to the urology specialty. Rise in demand for minimally invasive surgery and non-invasive treatment devices and new product launches in the urology devices segment are projected to propel the global urology devices market during the forecast period. Millions of people across the world are affected by urinary tract system (UTS) disorders, and women are more likely to be affected as compared to men. Urinary tract infection, weakening of pelvic floor muscles & urethral sphincters, menopause, pregnancy & childbirth, and post radical prostatectomy surgery in men lead to the development of urology disorders and urinary incontinence symptoms. Efforts are being undertaken in various countries to improve the awareness about urological diseases among the general population. According to the Urologic Diseases in America (UDA) project, around $11 Bn is spent by the population in the U.S., annually, for the treatment and management of urological diseases.

The global Urology devices market is driven by demand for minimally invasive medical procedures as can be noted in the rise of use of robotics in the field and easy availability of better devices.  As a large number of people suffering from disorders of Urinary Tract System, the market sees impressive growth.

It might be worth noting here that these are more common in women than men and issues such as urinary tract infection, pregnancy and childbirth, weakening of pelvic floor muscles and urethral sphincters, menopause etc. are all included in list if things leading to urological disorders. In men, there can be these disorders after a post radical prostatectomy surgery.

Besides, governments in various countries are directing efforts towards improving awareness of urological diseases.

A Large Chunk of Growth in Global Urology Devices Market to be Accounted for by North America

Owing to a robust healthcare infrastructure, high level of technological adoption across and a favorable reimbursement policy will help North America hold a notable size of the market share over the forecast period. This region would be followed by Europe in terms of growth where high prevalence of urinary disorders is paving the way for a significant CAGR.

Another region that will generate untapped growth opportunities for global urology devices market players is the Asia Pacific (APAC) region, owing to rising levels of awareness and government efforts to improve medical outcome. Besides, a large geriatric population in the region is contributing positively to growth of the region and its robust performance in the global urology devices market. Additionally, there are notable improvements happening in the healthcare facilities in the region, showing promise to the global urological devices market’s growthtrajectory.

Technological Progress and Improvement in Hospital Infrastructure to Drive Urology Devices Market

The development of the global urology devices market is estimated to be influenced by the increased incidences of urologic conditions across the globe. In addition, technological progress, improvement in the infrastructure of hospitals, and rising geriatric population are likely to drive the demand for urology devices in the years to come. On the other hand, high cost associated with urology devices is anticipated to impede development of the global urology devices market in the near future.

Some of the kidney diseases comprise lupus nephrite, hemolytic-uremic syndrome, chronic kidney disease, cystic kidney diseases, and renal cyst amongst many other diseases. Most of the diseases of kidney often result in kidney failure and needs early diagnosis for the purpose of prompt treatment. The rising demand for prompt treatment is anticipated to work in favor of the global urology devices market in the years to come.

Increased Incidences of Urologic Conditions to Accentuate Demand in the Market

There has been rising incidences of various urologic conditions, such as end-stage renal disease (ESRD), chronic kidney disease (CKD), prostate cancer, bladder cancer, urinary incontinence, ureteral and kidney stones, which is likely to augur well for the global urology devices market.

Urology devices usually refer to medical devices utilized for the purpose of treatment and diagnosis of urology and kidney diseases. There has been an increasing demand for procedures of urological surgeries as they utilize minimally invasive devices. These devices come with benefits, such as fewer days of hospital stays, faster rate of recovery, and fewer incisions in comparison with open surgeries. These benefits are likely to work in favor of the global urology devices market in the near future.

Utilization and development of next-generation urology equipment, such as robotic and laser assisted devices to perform surgical procedures for better outcomes, such as greater accuracy and precision is likely to bode well for the market. In addition to that, these equipments are also able to offer quick rehabilitation and better visualization of intricate surgical sites. Technological progress and innovations are likely to trigger growth of the global urology devices market over the projection timeline.

With the ongoing global pandemic, Covid-19, the global urology devices market has suffered a setback, and it is likely to continue until life returns to normalcy following an invention of effective drug and vaccine. Several countries have imposed lockdowns, which has halted most of the manufacturing and industrial activities. This factor has left negative impact on the supply chain and production activities of urology devices market.

Report Highlights

The global urology devices market has been segmented based on product, end-user, and region.

In terms of product, the market has been classified into dialysis, endoscopes, endovision systems & peripheral instruments, laser & lithotripsy, robotic systems, urodynamic systems, urology catheters, biopsy devices, stents, urology guidewires, drainage bags, and others. The others segment has been bifurcated into retrieval devices & extractors, dilator sets & urethral access sheaths, tubes and distal attachments, and surgical dissectors, forceps & needle holders. The dialysis segment dominated the market in 2017. The segment is projected to expand at an exponential growth rate from 2021 to 2030. The robotic systems segment is likely to expand at a significant growth rate and is expected to gain market share during the forecast period, due to an increase in demand for robotic systems across the globe. Urology catheters, such as Foley catheters, intermittent catheters, and external catheters, are widely used and hence, the urology catheters segment dominated the global urology devices market. High rate of adoption of Foley catheters and intermittent catheters in order to empty the bladder, technologically advanced products to prevent infection, and ease of use of intermittent catheters are attributed to the prominent market share held by the urology catheters segment.

In terms of end-user, the global urology devices market has been classified into hospitals, dialysis centers, and others. The others segment includes ambulatory surgical centers and homecare settings. The hospitals segment accounted for a major share of the global market in 2017, followed by dialysis centers and others segments. Increase in the number of multinational hospitals with advanced surgery techniques and adoption of technologically advanced urology devices are expected to boost the hospitals segment during the forecast period.

In terms of region, the global urology devices market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a notable share of the global market in 2020, followed by Europe. Well-established health care facilities, favorable reimbursement policies, and early adoption of technologically advanced products for the management of urinary disorders have contributed to the major market share held by North America. Europe is projected to be the second-most attractive market for urology devices from 2018 to 2026. The market in the region is anticipated to expand at an exponential CAGR during the forecast period, due to high prevalence and increase in incidence of urinary disorders in Europe, recent launch of urology devices, and high per capita health care expenditure in the region.

Key Players

Few companies in the market landscape occupy a majority share and to maintain an edge over competitors, players often resort to mergers and acquisitions. They also do not shy away from exploring synergies to enable growth via strategic partnerships and collaborations. Some of the most significant names, marking the global urology devices market landscape include Boston Scientific Corporation, KARL STOZ SE & Co. KG, C,R, Bard, Inc. (Becton, Dickinson and Company), Richard Wolf GmbH., Intuitive Surgical, Fresenius Medical Care, Olympus Corporation, and Cook Medical. One of the key features of the market will be a keen focus on product development via innovation.

The report has been segmented as presented below:

By Product:

  • Dialysis
  • Endoscopes
  • Endovision Systems and Peripheral Instruments
  • Laser and Lithotripsy
  • Robotic Systems
  • Urodynamic Systems
  • Urology Catheters
  • Biopsy Devices
  • Stents
  • Urology Guidewires
  • Drainage Bags

By End Use:

  • Hospitals
  • Dialysis Centers

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2021) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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Daksh

Daksh is an SEO Analyst having 3 years of experienced. we can quickly understand and support initiatives that will contribute to the goals and success of client campaigns. and also Perform keyword research in coordination with client business objectives to optimize existing content and uncover new opportunities.

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