Urology Devices Market Research Report: By Types (Dialysis Equipment, Urinary Stone Treatment Devices, Endoscopy Devices, Benign Prostatic Hyperplasia Treatment Devices, Urinary Incontinence & Pelvic Organ Prolapsed), By Technology (Minimally Invasive Surgery And Robotic Surgery), By Applications (Benign Prostatic Hyperplasia, Prostate Cancer, Urinary Stones, Urinary Incontinence), By End Users (Hospitals, Ambulatory Services And Others) – Global Forecast Till 2023
The global urology devices market is likely to exhibit a strong 7.1% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR).
Leading players in the global urology devices market include HealthTronics Inc., Nikkiso Co. Ltd., Stryker, Dornier MedTech, Fresenius Medical Care AG & CO. KGaA, Cook Medical, C. R. Bard Inc., Boston Scientific Corporation, Medtronic, Olympus Corporation, and Karl Storz GmbH & Co. KG.
In August 2019, researchers at the Mayo Clinic announced the development of a penile traction therapy device for people suffering from Peyronie’s disease.
The global urology devices market is segmented on the basis of type, application, technology, end use, and region.
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By type, the market is segmented into dialysis equipment, urinary stone treatment devices, endoscopy devices, benign prostatic hyperplasia treatment devices, urinary incontinence & pelvic organ prolapsed devices, and others. Dialysis equipment is further segmented into peritoneal dialysis, haemodialysis, and others. Urinary stone treatment devices are further segmented into ureteral stents, lithotripsy, and others. Urinary incontinence & pelvic organ prolapsed devices are further segmented into sacral neuromodulator, urethral inserts & pessaries, vaginal meshes & slings, and others. Benign prostatic hyperplasia treatment devices are further segmented into prostatic stents, catheter ablation, and others.
By application, the global urology devices market is segmented into benign prostatic hyperplasia, prostate cancer, urinary stones, urinary incontinence, and others.
By technology, the global urology devices market is segmented into minimally invasive surgery, robotic surgery, and others. The robotic surgery segment is expected to grow at a rapid pace over the forecast period due to increasing government support for robotic surgeries and other automated processes in the healthcare sector in North America and Europe.
By end use, the market is segmented into hospitals, ambulatory care centers, and others.
North America is likely to dominate the global urology devices market over the forecast period. The increasing prevalence of kidney stones and urinary tract infections in North America is likely to be the major driver for the urology devices market over the forecast period. The increasing prevalence of prostate cancer in the region is also likely to play a key role in the development of the urology devices market in North America over the forecast period. The prevalence of urinary tract infections and kidney stones has been driven in North America by the increasing consumption of low-quality diets rich in uric substances. The increasing consumption of nitrogen-rich foods is likely to remain a key driver for kidney stones and UTIs in the region. This is likely to remain a major driver for the urology devices market in the region over the forecast period.
Prostate cancer has also become a major worry in North America and is likely to account for a significant role in the growing demand from the urology devices market. Urology devices are used to conduct studies and treatments in the urinary tract, and in and around male and female genitals. This is a key driver for the urology devices market, as the rising awareness about prostate cancer has led to a growing demand for urology devices in the last few years. The increasing prevalence of kidney diseases such as kidney stones and other infections, urinary tract infections requiring close-up analysis and treatment, and prostate cancer is likely to remain a key driver for the urology devices market in North America over the forecast period.
Europe is the second largest regional market for urology devices and is likely to retain a considerable share in the global market over the forecast period. The Europe market for urology devices is mainly driven by the growing awareness about prostate cancer, which has resulted in increasing diagnosis in the field, thus resulting in an increasing demand from the urology devices market, to diagnose and repair the condition. Increasing healthcare expenditure is also likely to be a major driver for the urology devices market in Europe, as governments in the region are keen to expand the presence of the medical device industry in the region. This is likely to remain a major driver for the urology devices market in Europe over the forecast period.
Asia Pacific is likely to be the fastest growing market for urology devices and is likely to exhibit robust growth over the forecast period.
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