TOKYO, Nov. 29, 2022 (GLOBE NEWSWIRE) — The Global Urology Devices Market The size accounted for USD 35.6 billion in 2021 and is expected to occupy a market size of USD 60.2 billion by 2030, growing at a CAGR of 6.1% from 2022 to 2030.
Disorders of the urinary system are the most frequently reported and detected urological disorders worldwide. It affects millions of people, having a significant impact on physical and emotional health. This disorder affects many more women than men and its prevalence increases with age. Some of the conditions that cause urinary system disorders are obesity, weak pelvic floor muscles, urinary tract infection, pregnancy, and neurological disorders. About 200 million people worldwide suffer from urinary incontinence or bladder problems.
Urology Devices Market Statistics
- The global market value of urology devices was USD 35.6 billion in 2021 and is expected to grow at a CAGR of 6.1% from 2022 to 2030
- North America Urology Devices Market Share Will Reach Around 38% Market Share In The Coming Years
- According to the American Cancer Society’s estimate, more than 81,180 people in the United States will be diagnosed with bladder cancer by 2022.
- Asia-Pacific Urology Devices Market Growth Recorded a Substantial CAGR of 7% during the forecast period 2022 to 2030
- Among products, the dialysis sub-segment generated $13.7 billion in revenue in 2021
- On an end-user basis, hospitals collected $24 billion in revenue in the reporting year
- Rising investment in urology facilities is a key urology device market trend fueling industry growth
Urology Devices Market Growth Factors
- Increase in the prevalence of urological conditions
- Growing preference for minimally invasive procedures
- Launch of technologically advanced products
- Growth in research and development activities in urology devices
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Urology Devices Market Report Coverage:
|Market||Urology Devices Market|
|Urology Devices Market Size 2021||$35.6 billion|
|Urology Devices Market Forecast 2030||$60.2 billion|
|Urology Devices Market CAGR from 2022 to 2030||6.1%|
|Urology Devices Market Analysis period||2018 – 2030|
|Urology Devices Market base year||2021|
|Urology Devices Market Forecast data||2022 – 2030|
|Segments Covered||By product, by end user and by geographical area|
|Urology Devices Market Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Profiled Key Companies||Boston Scientific Corporation, CR Bard, Inc. (Becton, Dickinson and Company), Intuitive Surgical, KARL STORZ SE & Co. KG, Richard Wolf GmbH, Fresenius Medical Care, Cook Medical, Olympus Corporation, Siemens Healthineers (Siemens AG), Stryker , Braun Melsungen AG, Baxter International Inc., Medtronic and Dornier MedTech, etc.|
|Report cover||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis|
Urology Devices Market Dynamics
Rapid growth in the geriatric population is expected to propel the global urology devices market forward. In the coming years, the large pool of patients with urinary disorders and other symptoms is expected to propel the revenue of the global urology devices market. The rapid growth rate is driven by increased adoption of urology devices, ease of availability of urology devices, and global demand for minimally invasive products. Lack of water intake causes kidney stones to form over time in people of all ages. Urological diseases, such as kidney stones, cause painful urination due to urinary tract infection. Also, the emergence of bladder cancer has increased the demand for minimally invasive treatment procedures. Obesity, chronic disease and excessive smoking all contribute to an increase in the prevalence of stress incontinence. Additionally, the growing prevalence of stress incontinence is expected to drive the demand for urology devices in the coming years.
Furthermore, an increase in preference for minimally invasive devices for the treatment of urological disorders, favorable medical policies and a rapid increase in the geriatric population are among the major factors driving the demand for urological devices in the world. Due to the large number of patients with urinary disorders in countries like India and China, the large geriatric population in Japan, and the increased adoption of innovative products in Japan and other emerging economies, the Asia-Pacific is expected to grow at a high CAGR. These aspects are expected to drive the global urology devices market forward.
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Segmentation of the urology devices market
The global urology devices market is divided into three segments: product, end-user, and region. The global urology devices market is divided into dialysis, laser and lithotripsy, robotic systems, urodynamic systems, endoscopes, endovision system and peripheral instruments, urological guidewires, urological catheters, stents, urological dynamic systems, drainage bags and others. The global urology devices market is divided into dialysis centers, hospitals, and others based on the end user. The global urology devices market is divided into five regions: North America, Europe, Latin America, Asia-Pacific, Middle East and Africa.
Urology Devices Market Share
According to our analysis of the urology devices market, the dialysis sub-segment got the most revenue in 2021 and is expected to continue this trend in the coming years. According to our urology devices market forecast, hospitals will dominate the industry from 2022 to 2030. During the forecast period, dialysis centers are expected to be the second leading segment.
Regional Growth of the Urology Devices Market
North America, Asia-Pacific, Europe, Latin America, Middle East and Africa (MEA) is the regional categorization of the global urology devices industry. Among all regions, North America accounted for more than $13.5 billion in the global market in 2021. The growing number of cancer patients, rising prevalence of elderly patients, and rapidly growing technological advancements in the healthcare sector all support the urology device industry in North America. . On the other hand, Asia-Pacific is expected to grow at a high CAGR due to the large number of urinary patients in countries like India and China, large geriatric population in Japan, and large geriatric population in Japan. increased adoption of innovative products in Japan and other emerging economies. These aspects are expected to drive the global urology devices market forward.
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Urology Devices Market Players
Key players operating in the global urology devices market are Boston Scientific Corporation, Braun Melsungen AG, Baxter International Inc., Cook Medical, CR Bard, Inc. (Becton, Dickinson and Company.), Fresenius Medical Care, KARL STORZ SE&Co. KG, Intuitive Surgical, Olympus Corporation, Richard Wolf GmbH, Siemens Healthineers (Siemens AG), Stryker, Medtronic and Dornier MedTech, etc. These players have a broad geographic reach and are present in a variety of urological device segments. Manufacturers are implementing acquisition and collaboration strategies, as well as new product development strategies, to address the unmet needs of a large portion of patients with urinary disorders. Additionally, key players have launched strategic initiatives such as partnerships, product launches, acquisitions and mergers. Investments in R&D, combined with advanced robotic technologies used in UTS disorders, are expected to yield innovative treatment devices. This factor is expected to provide lucrative opportunities for the global players in the industry.
Questions this report answers
- What was the market size of Urology Devices Market in 2021?
- What will be the CAGR of the Urology Devices Market during the forecast period, 2022 to 2030?
- Who are the key players in the Global Urology Devices Market?
- Which region held the largest Urology Devices market share in 2021?
- What are the key drivers of the Urology Devices market?
- What is the largest end-user urology devices market?
- What will the urology devices market be worth in 2030?
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