ID: MRFR/MED/0614-HCR | 105 Pages | Author: Rahul Gotadki | November 2023
The urology devices market size was valued at USD 36.5 billion in 2022 and is projected to grow from USD 37.96 Billion in 2023 to USD 48.5 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4% during the forecast period (2023 - 2032). Increased health consciousness and expenditure are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The increasing prevalence of kidney diseases, such as chronic kidney disease and renal failure, is a major factor in the increasing adoption of dialysis machines worldwide. For instance, the 2021 annual report for Fresenius Medical Care estimates that the number of people with chronic kidney disease will be about 3.8 million in 2022 and more than 6 million by 2030.
In addition, demand for dialysis products such as dialysate and hemodialysis machines increased due to the large number of patients undergoing dialysis treatment. As a result, manufacturers are launching urological devices, thereby driving market growth. Furthermore, new product launches and the rising prevalence of kidney disorders are anticipated to surge the patient population seeking dialysis treatment, driving the market CAGR.
Figure 1: Percentage of US Adults Aged 18 Years or Older With CKD (in %)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The increasing prevalence of numerous urological-related diseases, such as urolithiasis, urethral malignancies, chronic kidney disease, and end-stage renal disease, has driven healthcare providers and manufacturers to adopt technologically advanced urological devices. We are now strengthening our research and development. For example, in May 2021, UCI Health urologists tested a new laser technology. It surprised thulium fiber laser shrinks large kidney stones to a smaller size, allowing them to be easily aspirated or flushed from tshe body. Such effort in research studies is anticipated to propel the urology devices market revenue over the forecast period.
Based on type, the market segmentation of urology devices includes dialysis equipment, urinary stone treatment devices, endoscopy devices, benign prostatic hyperplasia treatment devices, and urinary incontinence & pelvic organ prolapse. The endoscopy devices segment held the majority share in 2022 with respect to the market revenue of urology devices attributed to the increasing prevalence of urolithiasis and the high demand for disposable cystoscopes, especially in developed countries. Furthermore, surged patient calls to urology clinics attached to the growing adoption of dilators and catheters in the urology clinics for handling are anticipated to give to segmental growth during the forecast period.
The urology devices market data has been bifurcated by application into Minimally Invasive Surgery and Robotic Surgery. The minimally invasive surgery segment dominated the market in 2022. The terminal side segment is proposed to be the fastest-growing segment during 2023-2030, attributed to the increasing number of patients suffering from urological disorders choosing minimally invasive processes over traditional ones.
Based on technology, the Urology Devices market segmentation includes benign prostatic hyperplasia, prostate cancer, urinary stones, and urinary incontinence. The urinary incontinence Urology Devices segment held the majority share in 2022 with respect to the market revenue of Urology Devices due to the owing to Diabetic patients having a higher risk of developing urinary incontinence.
September 2021:LiNA Medical partnered with UroCure to develop surgical solutions for female stress urinary incontinence.
Based on end-user, the market for urology devices includes hospitals and ambulatory services. The hospitals and clinics led the market in 2022 and are projected to be the faster-growing segment during the forecast period, 2023-2030, due to the growing number of patient appointments in hospitals with urology-related disorders. Moreover, the rising adoption of urology endoscopes such as ureteroscopy and cystoscope devices for ongoing treatment and diagnosis is expected to drive segmental growth during the forecast timeframe. Hence, rising End-User options for Urology Devices positively impact the market growth
Figure 2: Urology Devices Market, by End-User, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study offers market insights into Asia-Pacific, North America, Europe, and Rest of the World. The North America Urology Devices market accounted for USD 16.71 billion in 2022 and is projected to grow at a significant CAGR growth during the study period, attributed to the Increasing number of patients suffering from kidney disease, increasing patient visits for treatment and diagnosis, and vital existence of market players in the region are projected to propel the market. Further, the United States market of urology devices held the largest market share, and the Canada market of urology devices was the fastest-growing market in the North American region.
Further, the major countries studied in the market report are: The U.S, Canada, UK, Italy, Spain, Germany, France, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: UROLOGY DEVICES MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Urology Devices market accounts for the second-largest market share due to the Increasing number of patients suffering from kidney disease, rising patient visits for treatment and diagnosis, and the strong presence of key market players in the region are expected to drive the market. In addition, the rapid adoption of disposable cystoscopes and the increasing launch of technologically advanced urological devices by key market players are anticipated to propel market growth in this region. Key players in Europe are placing more emphasis on introducing advanced urological devices to improve operational efficiency, which is also playing an important role in the market's growth. Moreover, the UK market of urology devices held the largest market sharenwhereas Germany market of urology devices is the fast growing in the region.
The Asia-Pacific Urology Devices Market is projected to develop at the fastest CAGR from 2023 to 2030 due to increasing focus on improving growing awareness regarding the diagnosis of urology disorders, healthcare infrastructure, and rising product launches by companies across Japan, China, and India. Furthermore, increased government investments in developing advanced healthcare infrastructure are likely to boost ventilator usage across the region's hospital facilities that supplement the market growth. Key players are devising market entry strategies to expand their business presence in the Asia Pacific. Moreover, the China market of urology devices held the largest market sharenwhereas India market of urology devices is the fast growing in the Asia-Pacific region.
Urology devises Key Market Players & Competitive Insights
Key market players are spending significant funds on research and development to expand their product lines, which will help the urological devices market to grow further. Market players are also adopting various strategies to expand their footprint through important market developments such as contractual agreements, new product launches, mergers and acquisitions, increased investments, and collaborations with other organizations. taking the initiative. Competitors in the urology device industry need to expand their business presence to compete in an increasingly competitive and growing market environment.
One of the key business strategies industries adopted in urology device manufacturing to benefit clients and expand the market sector is increasing investment in R&D to enhance solutions and services. In recent years, the Urology Devices industry has provided transparency and reduced disruptions in the supply chain. The Urology Devices market major players such as Boston Scientific Corporation, Olympus Corporation, Medtronic, R. Bard, KARL STORZ GmbH & Co. KG, and others are functioning to further expand the market growth by investing in research and development activities.
Olympus is a Japanese company that develops customer-centric solutions for the medical, life sciences and industrial equipment industries. Olympus has focused on making people's lives healthier, safer and more fulfilling by helping diagnose, prevent and treat disease, advance scientific research and ensure public safety. For example, in July 2020, Olympus Corporation introduced the Soltive SuperPulsed Laser System in the United States as an option for urologists to use in lithotripsy and soft tissue applications.
Boston Scientific Corporation is a US-based biomedical/biotechnology engineering company specializing in interventional radiology, interventional cardiology, peripheral intervention, neuromodulation, neurovascular intervention, electrophysiology, cardiac surgery, Multinational manufacturer of medical devices used in interventional medical specialties such as vascular surgery, endoscopy and oncology. , Urology, Gynecology. For example, in March 2021, Boston Scientific Corporation entered into a definitive agreement with a subsidiary of BPEA (Baring Private Equity Asia) to acquire Lumenis LTD's surgical business. This business includes urology and ENT products such as premium laser systems, fibers and accessories for urology.
Key Companies in the Urology Devices market include
• KARL STORZ GmbH & Co. KG
• Olympus Corporation
• Medtronic
• Boston Scientific Corporation
• R. Bard
• Fresenius Medical Care AG & Co. KGaA (Germany)
• Dornier MedTech (Germany)
• Stryker (US)
Urology devises Industry Developments
January 2021:Advanced Medtech led Devicare's USD 3 million series A fundraising event to bring digitalized management medical devices and urological medical to market. Devicare's strategic investment adds to Advanced MedTech's product portfolio and improves its position as a leader in urology and kidney stone management
February 2019:Coloplast and Premier Inc signed a three-year agreement for its urology products. The general urological products include drainage systems, catheters, and other accessories, thereby increasing penetration of the product in a new market.
Dialysis Equipment
Urinary Stone Treatment Devices
Benign Prostatic Hyperplasia Treatment Devices
Urinary Incontinence & Pelvic Organ Prolapsed
Minimally Invasive Surgery
Robotic Surgery
Benign Prostatic Hyperplasia
Prostate Cancer
Urinary Stones
Urinary Incontinence
Hospitals
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
Report Attribute/Metric | Details |
Market Size 2022 | USD 36.5 billion |
Market Size 2023 | USD 37.96 billion |
Market Size 2032 | USD 48.5 billion |
Compound Annual Growth Rate (CAGR) | 4%(2023-2032) |
Base Year | 2022 |
Market Forecast Period | 2023-2032 |
Historical Data | 2018 & 2021 |
Market Forecast Units | Value (USD Billion) |
Report Coverage | Market Competitive Landscape, Growth Factors, Revenue Forecast, and Trends |
Segments Covered | Type, Application, Technology, End-User, and Region |
Geographies Covered | Asia Pacific, Europe, North America, and Rest of the World |
Countries Covered | The U.S, Canada, UK, Italy, Germany, France, Spain, China, India, Australia, Japan, South Korea, and Brazil |
Key Companies Profiled | Olympus Corporation, Medtronic, Boston Scientific Corporation, KARL STORZ GmbH & Co. KG, R. Bard, Dornier MedTech (Germany), Stryker (US), Fresenius Medical Care AG & Co. KGaA (Germany), |
Key Market Opportunities | Increase in research & development activities for technologically advanced products to aid market growth |
Key Market Dynamics | Increasing prevalence of kidney disorders to fuel market growth Increased health consciousness and health expenditure boost market demand |
The market size of urology devices was valued at USD 36.5 Billion in 2022.
The market is projected to grow at a CAGR of 4% during the forecast period, 2023-2032.
North America had the leading share of the Urology Devices market
The key players in the market are Fresenius Medical Care AG & Co. KGaA (Germany), KARL STORZ GmbH & Co. KG, Dornier MedTech (Germany), and Stryker (US), Medtronic, Boston Scientific Corporation, and others.
The domestic transportation Urology Devices category dominated the market in 2022.
The Minimally Invasive Surgery application had the largest share of the market.
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