Urology Devices Market Analysis and Forecast till 2031: By Product (Endoscopes, Lasers, Lithotripsy, Dialysis Devices), By Application (Kidney disease, Urologic Cancer Bladder Disorders), By End-use (Hospitals, Ambulatory Surgical Centers, Dialysis Center

Urology Devices Market Analysis and Forecast till 2031: By Product (Endoscopes, Lasers, Lithotripsy, Dialysis Devices), By Application (Kidney disease, Urologic Cancer Bladder Disorders), By End-use (Hospitals, Ambulatory Surgical Centers, Dialysis Center), and Region

The global urology devices market was valued at USD 37.9 billion in 2021 and it is anticipated to grow up to USD 49.7 billion by 2031, at a CAGR of 2.7% during the forecast period.

Urology devices are medical devices that are used for the treatment of urinary system and kidney diseases such as chronic kidney diseases (CKD), urinary incontinence and pelvic organ prolapse, kidney stone, benign prostatic hyperplasia (BPH) and end stage renal disease (ESRD).

Market Trends and Drivers

Rising incidence and prevalence of urological conditions will augment the market growth. Over the last few decades, the incidence and prevalence of urological conditions, such as chronic kidney disease (CKD), end-stage renal disease (ESRD), urinary incontinence, kidney and ureteral stones, and bladder and prostate cancer, have increased significantly across the globe. According to the Global Forum on Incontinence, 4−8% of the global population (approximately 400 million people) were affected by urinary incontinence in 2018. Urology-related consumables such as urinary catheters are used to manage incontinence, which cannot be treated or managed with medicines or surgery. The prevalence of urinary incontinence is expected to grow due to the growing aging population and the increasing incidence of obesity, as these are the two major risk factors for urinary incontinence. This is expected to fuel the market growth.

Market Restraints and Challenges

High degree of consolidation may hamper the market growth. The top players such as Fresenius Medical Care AG Co. KGaA (Germany), Baxter International Inc. (US), Olympus Corporation (Japan), Boston Scientific Corporation (US), Becton, Dickinson and Company (US), and Stryker Corporation (US)—in the urology devices market accounted for a combined majority market share in 2019. There is a high degree of competition among the market players. Only major companies can afford high-capital investments as well as the high cost of RD and manufacturing. This will prevent new entrants from entering this market. New entrants in this market have to compete with existing players and set themselves apart by developing innovative product offerings. The high degree of consolidation acts as a major entry barrier for new entrants, which in turn is expected to restrict investments and thus slow down the growth potential of this market.

Global Urology Devices Market Segmental Overview

The report analyses the Global vascular closure devices market based on product, application, end-use, and region.

Global Urology Devices Market by Product

Based on product, it is segmented into endoscopes, lasers, lithotripsy, dialysis devices and others. The endoscope segment is likely to account for the significant market share during the forecast period. The key factors attributing the benefit of endoscope is a diagnostic procedure that allows the doctor to directly examine the urinary tract. Endoscopy may be recommended when a disorder of the urinary tract is suspected, including structural problems that can lead to a blockage of urine flow or a back flow of urine. This will favor the segment growth.

Global Urology Devices Market by Application

Based on access, it is segmented into kidney disease, urologic cancer, bladder disorders and others. The kidney disease segment is likely to dominate the market during the forecast period. The growing incidence of kidney diseases coupled with the health complications associated with them is driving the demand for urological interventions to manage them, which, in turn, is propelling the market for urology devices. The rising geriatric population is another key factor supporting market growth as the elderly are more susceptible to chronic diseases such as diabetes and hypertension, which are the key factors responsible for kidney disorders (CKD and ESRD). Thus, considering overall factors and high procedural volume, the segment is estimated to grow robustly during the forecast timeline,

Global Urology Devices Market by End-use

Based on end-use, it is segmented into hospitals, ambulatory surgery centers, and dialysis center. The hospital segment is likely to dominate the urology devices market during the forecast period. High adoption of advanced devices providing enhanced kidney care will drive the patient preference for hospitals. Growing admissions with kidney patient, along with availability of highly trained professionals impels the demand for urology devices in these facilities. Therefore, patient preference for well-equipped emergency treatment will fuel the segment revenue in the nearby future.

Geographical Analysis of Global Urology Devices Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American region is accounted for the majority of market share during the forecast period. Presence of major industry players focusing on innovation will contributes to the regional growth. Additionally, increasing hospitalizations associated with kidney disease driving the patient inflow in facilities impels the regional expansion. Furthermore, sophisticated infrastructure and growing disease spending among the population facilitate the market in the region.

Major Players in the Global Urology Devices MarketCOVID-19 Impact

The COVID-19 pandemic has caused disruption in health systems worldwide. This has had a profound impact on urological care and urology care providers. The growing number of COVID-19 cases across the globe has inundated many healthcare facilities with critically ill patients. The COVID-19 strain commonly causes acute respiratory distress in patients and may result in acute kidney injury and, in some cases, kidney failure. According to the American Society of Nephrology, approximately 10−50% of patients with severe COVID-19 admitted to intensive care units have kidney failure that requires some form of dialysis. The growing cases of COVID-19-infected patients across the globe is anticipated to boost the demand for dialysis procedures. As a result, the demand for home dialysis machines has increased owing to the increasing preference for home dialysis treatment due to travel restrictions.

Recent Developments

• In May 2022, Teleflex Incorporated announced the full U.S. commercial launch of its UroLift® 2 System and UroLift ATC® System, and that it were update the urology community through multiple in-booth presentations at the 2022 American.
• In April 2022, Teleflex Incorporated announced the launch of the UroLift System in Japan for treating benign prostatic hyperplasia (BPH), or enlarged prostate. The UroLift System is now available for purchase, effective immediately
• In November 2020, Baxter International Inc. (US) received 510(k) approval from the FDA for its Homechoice Claria automated peritoneal dialysis system with the Sharesource connectivity platform.
• In May 2019, Fresenius Medical Care AG Co. KGaA (Germany) announced the establishment of a new distribution center in Knoxville, Tennessee. This expansion will support the delivery of products needed for in-center hemodialysis treatment.

Frequently Asked Questions

Q1. How big is the Urology Devices market?Ans. The global Urology Devices market size was USD 37.9 Billion in 2021 and is anticipated to reach USD 49.7 Billion in 2031, growing at a rate of 2.7% from 2022 to 2031.Q2. What is the Urology Devices market growth rate?Ans. The growth rate of the Urology Devices market is 2.7%.Q3. Which region holds a major market share for the Urology Devices market?Ans. North America holds a major market share of the Urology Devices market in 2021.Q4. Which segment accounted for the largest Urology Devices market share?Ans. By end user, the hospitals segment accounted for the largest Urology Devices market share.Q5. Who are the key players in the urology devices market?Q6. What are the factors driving the urology devices market growth?Ans. The major factors driving the growth of the market are the increasing incidence of kidney disease across the globe.Q7. What are the key growth strategies of urology devices market players?Ans. The key growth strategies of urology devices market players are product launch and product approval.Q8. Which region will provide more business opportunities for the urology devices market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for the urology devices market during the forecast period.

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