Market Scope
Market Research Future (MRFR) presumes that the urology devices market could soar at a rate of 7.1% between 2020 and 2027 (review period).
The urology devices market is mainly driven by the growing awareness about urological disorders among the general population. Urology refers to the urinary system and reproductive system of males as well as females. The organs covered by urology include the kidneys, ureters, the urinary bladder, urethra, the adrenal glands, as well as the male and female reproductive organs, including the testes and ovaries. The increasing prevalence of kidney stones, prostate cancer, and urinary tract diseases is a major driver for the global urology devices market. Increasing awareness about the ability of modern physicians to repair trauma damage to the urinary system is also likely to be a major driver for the global urology devices market.
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Key Players
The top urology devices manufacturers in the market are C. R. Bard Inc. (US), Boston Scientific Corporation (US), Stryker (US), Olympus Corporation (Japan), HealthTronics, Inc (US), KARL STORZ GmbH & Co. KG (Germany), NIKKISO CO. LTD (Japan), Medtronic (US), Dornier MedTech (Germany), Fresenius Medical Care AG & Co. KGaA (Germany), Cook (US), and many more.
Segmental Analysis
The global urology devices market is categorized on the basis of types, applications, technology, end users, and region.
The urology devices market is segmented on the basis of types into dialysis equipment, urinary stone treatment devices, endoscopy devices, benign prostatic hyperplasia treatment devices, urinary incontinence & pelvic organ prolapse 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 prolapse 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.
On the basis of technology, the urology devices market is segmented into minimally invasive surgery, robotic surgery, and others.
On the basis of applications, the urology devices market is segmented into benign prostatic hyperplasia, prostate cancer, urinary stones, urinary incontinence and others.
On the basis of end users, the urology devices market is categorized into hospitals, ambulatory services and others.
Regional Analysis
The urology devices industry has been regionally considered for APAC/Asia Pacific, MEA/Middle East & Africa, the Americas, and Europe.
America maintains its winning streak and will continue to do so throughout the evaluation timeframe, thanks to the escalating cases of kidney stones, traumatic injury, prostate cancer, and others. The American Urological Association Foundation confirms that benign prostatic hyperplasia (BPH), urinary incontinence (UI), urinary tract infections, and kidney and ureteral stones are the top urological ailments occurring in the region. Surge in lifestyle-based health issues, significant healthcare spending, and a well-developed healthcare system present in both Canada and the US also add to the regional market value. Favorable reimbursement structure also add to the market worth. Not only clinics and hospitals, but urology devices are increasingly being used in the domestic sector as well, as the rising number of geriatric patients prefer at-home settings.
Asia Pacific could be the fastest progressing market in the next few years, on account of the booming population with significant unmet medical needs and the surge in economic standards. Mounting cases of Benign Prostatic Hyperplasia (BPH) as well as Urinary Tract Infection (UTI) also raises the demand for urology devices. With the rising focus on replacing and upgrading the existing healthcare infrastructure, urology devices would note higher demand in the following years. Besides, majority of the players in the region are spending considerably on exhaustive research and development of the latest types of urology devices. Urology device manufacturers are also indulging in mergers and acquisitions to enhance individual as well as cumulative industry growth.
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