Acknowledging the traction, this market is vibrating with currently; Market Research Future (MRFR) in its recently published study report giving asserts that the Global Urology Devices Market gaining further prominence will register a spectacular growth by 2022, growing at a CAGR of 7.1 % during the review period (2017 – 2023).
The Global Urology Devices Market is growing pervasively, mainly due to the increasing prevalence of disorders associated with the urinary tract system (UTS) and reproductive organs in men. Increasing occurrences of UTS disorders in women especially alongside the growing incidence of prostate cancer cases are escalating the market growth on the global platform.
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Additional factors substantiating the market growth include the developments of in advance healthcare devices and an increasing number of patients with kidney diseases. Simultaneously, the well-spread awareness about the availability and benefits of these devices such as reduced treatment and recovery time among renal disease patients, are fostering the market growth, fueling the demand for these devices. Innovation in urology devices alongside the increasing per capita health care expenditures is supplementing the growth of this market to an extent.
On the other hand, factors such as the high cost of urology devices are expected to impede the market growth. Nevertheless, the emergence of many new processes such as Israeli firm Lumenis’ technology’s new stone-striking method – ‘Moses method’ is providing impetus to the market growth, proving as game changers for urologists.
Global Urology Devices Market – Key Players
Some of the eminent leaders of the market include Olympus Corporation (Japan), Karl Storz GmbH & Co. KG (Germany), Medtronic (US), C. R. Bard, Inc. (US), Boston Scientific Corporation (US), Cook (US), Fresenius Medical Care AG & Co. KGaA (Germany), Stryker (US), Dornier MedTech (Germany), NIKKISO CO. LTD (Japan), and HealthTronics, Inc (US).
September 21, 2018 – Boston Scientific Corporation (US), a leading global medical devices manufacturer announced the launch of its kidney stone retrieval device namely LithoVue Empower Device. This device allows a single urologist to operate both a ureteroscope and a basket simultaneously during the procedure, performed via flexible ureteroscopy.
Turning the two-person procedure into a single-person procedure, providing the surgeon with greater control and minimizing the risks of miscommunication. The LithoVue Empower Device ultimately introduces a novel efficiency into ureteroscopic stone surgery, making it simpler for the urologist to pick & move a stone which is otherwise a tedious procedure.
Global Urology Devices Market – Segments
MRFR has segmented its analysis into six key dynamics for enhanced understanding.
By Types: Dialysis Equipment, Urinary Stone Treatment Devices (ureteral stents, lithotripsy, and others.), Endoscopy Devices, Benign Prostatic Hyperplasia Treatment Devices (prostatic stents, catheter ablation, and others.), Urinary Incontinence & Pelvic Organ Prolapsed (sacral neuromodulator, urethral inserts & pessaries, vaginal meshes & slings, and others.) among others.
By Technologies: Minimally Invasive Surgery and Robotic Surgery among others.
By Applications: Benign Prostatic Hyperplasia, Prostate Cancer, Urinary Stones, and Urinary Incontinence among others.
By End-Users: Hospitals, and Ambulatory Services among others.
By Dialysis Equipment: Peritoneal Dialysis, and Haemodialysis among others.
By Regions: Europe, North America, APAC and Rest-of-the-World.
Global Urology Devices Market – Regional Analysis
The North American region is projected to continue with its dominance over the global urology devices market with the largest market share. Heading with the increasing prevalence of prostate cancer, kidney stones, and traumatic injury, among others, the region is estimated to create a significant revenue pocket during the review period (2017-2023). Factors such as the development of new urological devices alongside huge per capita health care expenses are acting as a major driving force contributing to the market growth in the region.
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The European region is another lucrative market for urology devices. Increasing focus on the development of new devices alongside rising government support for R&D activities is contributing to the market growth. Also, the increasing numbers of specialty services offered by various healthcare providers foster the growth of the market in Europe.
The Asia Pacific region is rapidly emerging as a promising market for urology devices, growing rapidly. Increasing incidents of prostate cancer, kidney stones, and traumatic injuries are fueling market growth. Moreover, factors such as the augmenting demand for quality equipment and proliferating healthcare technology are projected to provide impetus to market growth, leading to the increasing the uptake of urology devices. Large unmet needs with huge patient pool, ever-increasing population, and improving economic conditions are presaging at the opportunities for the market growth over the forecast period.
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