Urology Devices Market Outlook, Segmentation, Business Revenue Forecast and Trends 2030
Increased prevalence of disorders associated with organs such as ureters, urethra, adrenal glands, urinary bladder, ureters and other organs in the urinary system has driven the need for more advanced and cost-effective urology treatments and therapeutics. The number of individuals affected by chronic kidney disorders has also increased in recent years. Changing lifestyle and increased consumption of junk food is partly responsible for the rising number of medical cases associated with urinary system. Factors as such is influencing the global market for urology devices.
These devices are used in various surgical
treatments including kidney stones surgery, prostate surgery and uninary tract
surgery among others. Urology
devices Market Share was valued at USD 36.5 billion in 2022. The urology
devices market industry is projected to grow from USD 37.96 Billion in 2023 to
USD 48.03 billion by 2030, exhibiting a compound annual growth rate (CAGR) of
4.00% during the forecast period (2023 - 2030). Healthcare expenditure per
capita has improved globally, at the same time the ratio of geriatric
population continues to grow indifferently, which is also playing an important
role is driving the market. Over the years, a wide range of novel medical
technologies has arrived in the field of urology. Several groundbreaking
minimally invasive surgical procedures have also been developed for treating
urological disorders. Such incessant progress has led to development of cutting-edge urology
tools. Manufacturers are also focusing on developing and designing
organ-specific devices that can better assist surgeons in diagnosing and
treating disease in any particular organ in the urinary system.
Global Market for Urology Devices –
Competitive Analysis
Some of the prominent market participants
profiled in the MRFR’s report include Stryker (US), Olympus Corporation
(Japan), Boston Scientific Corporation (US), Cook (US), Dornier MedTech
(Germany), NIKKISO CO. LTD (Japan), KARL STORZ GmbH & Co. KG (Germany),
HealthTronics, Inc. (US), Medtronic (US), Fresenius Medical Care AG & Co.
KGaA (Germany), and C. R. Bard, Inc. (US).
Global Market for Urology Devices –
Segmental Analysis
Base on types, the Urology
Devices market outlook has been segmented into urinary stone treatment
devices, benign prostatic hyperplasia treatment devices, urology dialysis
equipment, urinary incontinence & pelvic organ prolapsed devices, endoscopy
devices and others. The dialysis equipment segment is further sub-segmented
into haemodialysis, peritoneal dialysis and others. The urinary incontinence
& pelvic organ prolapsed devices segment is further sub-segment into
vaginal meshes & slings, urethral inserts & pessaries, sacral
neuromodulator and others. The urinary stone treatment devices segment is
further sub-segmented into lithotripsy, ureteral stents and others. The
Benign prostatic hyperplasia treatment devices segment in further sub-segmented
into catheter ablation, prostatic stents and others. Based on application, the
market has been segmented into prostate cancer, urinary incontinence, benign
prostatic hyperplasia, urinary stones and others. Based on technology, the
market has been segmented into robotic surgery, minimally invasive surgery and
others. By end users, the market has been segmented into ambulatory services,
hospital and others.
Regional Overview
The market in Americas is expected to
witness a healthy growth during the projection period. This is mainly
attributed to increasing incidences of traumatic injuries, prostate cancer,
kidney stones across the region. Also, existence of an advanced healthcare
infrastructure and higher healthcare expenditure is favoring the growth of the
market in the region. Meanwhile, Europe holds the second spot in the global
urology market. Favorable government policies and expanding geriatric
population is propelling the region’s market. In Asia Pacific (APAC), rapid
industrialization and economic growth has contributed to the growth the
healthcare sector, which is auguring well for market player operating in the
region.
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