Urology Devices Market Analysis
The urological devices market was valued at USD 36.5 billion in 2022 and is expected to rise from USD 37.96 billion in 2023 to USD 48.5 billion by 2032, with a compound annual growth rate (CAGR) of 4% between 2023 and 2032. The expansion global urology devices business can be credited to the high prevalence of UTIs and the easy availability of urology devices. The inclination towards minimal invasive and non-surgical products can benefit the urology device market across the globe. The rise in trend of robotic surgery and its rapid adoption can provide thrust to the market upsurge. The launch of new urology devices and related products and growing concern for the wellness of women due to weakening of pelvic floor muscles and urethral sphincters, susceptibility to UTIs, pregnancy & childbirth, menopause, and post radical prostatectomy surgery are other growth inducers observed for the market.
The Urology Devices Market is advancing rapidly, with a notable focus on urology endoscopes. These devices play a crucial role in diagnosing and treating various urinary tract disorders. As minimally invasive procedures gain popularity, the demand for advanced urology endoscopes continues to rise, driving growth in the market.
Market Segmentation
The segment analysis of the global urology devices market is done by type, technology, applications, and end users.
The type-based study of the global urology devices market are urinary stone treatment devices, dialysis equipment, benign prostatic hyperplasia treatment devices, endoscopy devices, and urinary incontinence & pelvic organ prolapsed devices among others. Dialysis equipment comprises hemodialysis, and peritoneal dialysis among others. Urinary stone treatment devices are lithotripsy, and ureteral stents among others are studied. The sub-segments of the Urinary incontinence & pelvic organ prolapsed devices are urethral inserts & pessaries, sacral neuromodulator, and vaginal meshes & slings among others. Benign prostatic hyperplasia treatment devices consist of catheter ablation, and prostatic stents among others for the market study.
The technology-based segments of the urology devices market are robotic surgery, and minimally invasive surgery among others.
The application-based segments of the urology device market are prostate cancer, benign prostatic hyperplasia, urinary incontinence, and urinary stones among others.
The end users-based segments of the urology device market are hospitals and ambulatory services among others.
Regional Analysis
North America urology devices market can expand owing to increase in cases of dialysis as lifestyle diseases are observed to prevail. The U.S. populace is observed to be high prone to UTIs and the increase in need for treatment of urological diseases can favor expansion of the market in the near future.
In Europe, the urology devices market upsurge is likely due to factors, such as; growing awareness about urology devices, healthcare facilities, investments in hospital managements, and medical infrastructure that can support treatment for acute and chronic urological conditions.
In Asia Pacific, the escalation of government support in R&D can rise in business opportunity can have impact the regional market in the near future. The establishment of innovative technologies and growing need for sophisticated medical services can promote the market rise. Development in healthcare infrastructure across India can also promote urology devices market in the years to come. In Middle East and Africa, the urology device market can rise as healthcare services are observed to generate revenue.
Key Players
KARL STORZ GmbH & Co. KG (Germany), Medtronic (US), Olympus Corporation (Japan), Boston Scientific Corporation (US), Cook (US), Fresenius Medical Care AG & Co. KGaA (Germany), C. R. Bard, Inc. (US), Dornier MedTech (Germany), NIKKISO CO. LTD (Japan), Stryker (US), and HealthTronics, Inc (US) among others are some well-known marketers that are analyzed to study the competitive landscape of the urology device market research.
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