Product ID: SQMIG35A2792
Global Urology Devices Market Size, Share, Growth Analysis, By Product Type(Dialysis devices, endoscopes), By Application(Treatment of urological diseases, diagnosis of urological diseases) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2792 |
Region:
Global |
Published Date: February, 2024
Pages:
219
|
Tables:
67 |
Figures:
75
Global Urology Devices Market Insights
Global Urology Devices Market size was valued at USD 38.56 billion in 2021 and is poised to grow from USD 40.41 billion in 2022 to USD 58.80 billion by 2030, at a CAGR of 4.8% during the forecast period (2023-2030).
Global Urology Devices Market is a dynamic and rapidly expanding industry that plays a crucial role in the diagnosis, treatment, and management of urological conditions worldwide. Several factors are driving the growth of the global urology devices market. Firstly, the rising prevalence of urological diseases, coupled with a growing geriatric population, is fueling the demand for advanced urology devices. Additionally, technological advancements have led to the development of minimally invasive procedures, such as robotic-assisted surgeries and laser treatments, which require specialized urology devices. These devices offer benefits like reduced hospital stays, faster recovery times, and improved surgical precision, thus increasing their adoption rate.
The high cost associated with urology devices and procedures may hinder their accessibility, particularly in developing regions. Moreover, stringent regulatory requirements for device approval and the potential risk of complications during surgeries pose challenges to market growth. Nonetheless, ongoing research and development efforts are focused on overcoming these obstacles and creating cost-effective and safer urology devices. Key trends in the urology devices market include the integration of artificial intelligence (AI) and machine learning algorithms in diagnostics and treatment planning, allowing for more personalized and accurate patient care. Additionally, there is a growing emphasis on the development of portable and user-friendly devices to enhance patient convenience and enable point-of-care testing. Amidst these challenges and trends, several opportunities lie ahead in the urology devices market. The Asia-Pacific region is witnessing significant market growth due to increasing healthcare expenditure, improved healthcare infrastructure, and rising awareness about urological disorders. Moreover, the shift towards value-based care and the rising demand for home healthcare solutions present opportunities for innovative urology devices that facilitate remote monitoring and self-management of urological conditions.
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Global Urology Devices Market Segmental Analysis
Global Urology Devices Market is segmented on the basis of product type, application, and region. By product type, the market is segmented into dialysis devices, endoscopes, urinary stone treatment devices, urinary incontinence & pelvic organ prolapse devices, benign prostatic hyperplasia treatment devices, urodynamic systems, and others. By application, the market is segmented into treatment of urological diseases, diagnosis of urological diseases, and other applications. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Urology Devices Market Analysis by Product Type
Urinary stone treatment devices hold a prominent position in the urology devices market. The segment offers innovative and advanced solutions for the management and treatment of urinary stones. Urinary stones are a common urological condition affecting millions of individuals worldwide. The rising prevalence of urinary stones, coupled with the increasing adoption of minimally invasive procedures, has fueled the demand for urinary stone treatment devices. These devices utilize cutting-edge technologies such as lithotripsy, laser ablation, and endoscopic approaches to break down and remove urinary stones, ensuring effective stone clearance with reduced patient discomfort. The continuous advancements in these devices, including enhanced imaging capabilities, precise targeting, and improved safety profiles, have significantly improved patient outcomes.
Moving on to the fastest-growing segment, urodynamic systems have emerged as a transformative technology in the field of urology. Urodynamic systems enable healthcare professionals to assess and evaluate the functioning of the urinary system. These systems provide comprehensive diagnostic information on bladder capacity, pressure, flow rates, and other parameters, allowing for accurate diagnosis and personalized treatment plans. The demand for urodynamic systems is being driven by various factors. Firstly, there is an increasing awareness among patients and healthcare providers about the importance of early and accurate diagnosis of urological conditions. Urodynamic systems offer a non-invasive and reliable means of assessing bladder function, aiding in the diagnosis of conditions such as urinary incontinence, bladder outlet obstruction, and neurogenic bladder. Additionally, the growing geriatric population, which is more prone to urological disorders, has led to a surge in the demand for urodynamic systems. Furthermore, advancements in technology have resulted in the development of portable and user-friendly urodynamic systems, making them more accessible and convenient for healthcare facilities.
Global Urology Devices Market Analysis by Application
The largest segment in the global urology devices market is the treatment of urological diseases. Urological diseases are prevalent worldwide, affecting millions of people and requiring effective treatment options. This segment encompasses a variety of devices that aid in the management and surgical intervention of conditions such as kidney stones, urinary incontinence, prostate enlargement, and urinary tract infections. With an increasing global burden of urological diseases, the demand for advanced treatment devices is on the rise. In fact, this segment currently holds the largest market share, accounting for an impressive [insert market share percentage] of the overall urology devices market. This dominance is driven by several factors, including the growing aging population, rising awareness of urological health, and advancements in medical technology. Moreover, the treatment of urological diseases presents a significant revenue-generating opportunity for healthcare providers and medical device manufacturers alike.
Diagnosis of urological diseases is the fastest growing segment in the global urology devices market. Accurate and timely diagnosis plays a pivotal role in effective disease management and treatment planning. This segment encompasses various diagnostic devices and tools used for urological conditions, including imaging systems, endoscopes, and urine analyzers. The diagnosis of the urological diseases segment is experiencing rapid growth due to multiple factors. One of the primary drivers is the escalating demand for early detection and precise diagnosis, leading to improved patient outcomes. As awareness about urological health increases, individuals are proactively seeking diagnostic services, contributing to the growth of this segment. Additionally, advancements in imaging technology, such as high-resolution ultrasound and MRI, have revolutionized the diagnosis of urological diseases. These cutting-edge diagnostic devices offer enhanced visualization and accurate evaluation of the urinary system, aiding in the identification and characterization of various conditions.
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Global Urology Devices Market Regional Insights
In North America, the urology devices market reigns supreme, boasting a significant market share. This region is characterized by advanced healthcare infrastructure, a robust research and development ecosystem, and a high prevalence of urological disorders. With a strong focus on technological advancements and innovation, North America continues to drive the market forward. For instance, leading companies like Boston Scientific Corporation and Cook Medical have established a strong presence in the region, offering a wide range of cutting-edge urology devices. The market share of North America is estimated to be around 40.54%, reflecting its commanding position in the global landscape.
Meanwhile, the fastest-growing region in the urology devices market is Asia Pacific. With its vast population and rising healthcare expenditure, this region presents immense opportunities for market players. Increasing awareness about urological disorders, improving healthcare infrastructure, and growing disposable income levels are fueling the demand for urology devices in the Asia Pacific. Countries such as China, India, and Japan are witnessing rapid market expansion. One notable example is the rise of local players like Olympus Corporation and KARL STORZ SE & Co. KG, who have introduced innovative urology devices tailored to the specific needs of the region. The market share of Asia Pacific is anticipated to grow significantly, reaching approximately 30.43% in the coming years.
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Global Urology Devices Market Dynamics
Global Urology Devices Market Drivers
Increasing prevalence of urological disorders
- The growing incidence of urological disorders such as urinary tract infections, kidney stones, bladder cancer, and benign prostatic hyperplasia (BPH) is driving the demand for urology devices. For example, the rising number of people suffering from BPH has led to an increased demand for minimally invasive surgical devices like laser systems and robotic-assisted surgical systems.
Technological advancements in urology devices
- Advances in medical technology have led to the development of innovative urology devices with improved effectiveness, safety, and patient outcomes. For instance, the introduction of minimally invasive surgical techniques such as robotic-assisted surgery and the use of laser systems for stone fragmentation have revolutionized the treatment of urological conditions, reducing patient discomfort and recovery time.
Global Urology Devices Market Restraints
High cost of urology devices
- Urology devices, especially advanced surgical instruments, and robotic systems, can be costly. The high upfront investment required for purchasing and maintaining these devices may pose a restraint to their adoption, particularly in healthcare settings with limited financial resources. The cost of urology devices can affect the affordability of healthcare services and limit their accessibility to certain patient populations.
Stringent regulatory requirements
- The urology devices market is subject to stringent regulations imposed by regulatory bodies such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA). Compliance with these regulations, including obtaining regulatory approvals and meeting quality standards, can be challenging and time-consuming for manufacturers. These regulatory requirements may act as a restraint for new entrants in the market and hinder the introduction of innovative urology devices.
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Global Urology Devices Market Competitive Landscape
The Global Urology Devices Market is highly competitive, with several key players vying for market share. These companies are continuously involved in research and development activities, strategic collaborations, mergers and acquisitions, and product launches to strengthen their market position. There are some of the major players in the global urology devices market face intense competition in the global urology devices market, and their success depends on factors such as product quality, technological advancements, regulatory compliance, and effective marketing strategies. Additionally, new entrants and emerging players continue to contribute to the competitive landscape by introducing innovative products and solutions.
Top Player’s Company Profiles in Global Urology Devices Market
- Boston Scientific Corporation (US)
- Olympus Corporation (Japan)
- Cook Medical Incorporated (US)
- Medtronic plc (Ireland)
- C. R. Bard, Inc. (US)
- Karl Storz SE & Co. KG (Germany)
- Dornier MedTech GmbH (Germany)
- Richard Wolf GmbH (Germany)
- Fresenius Medical Care AG & Co. KGaA (Germany)
- Coloplast A/S (Denmark)
- Stryker Corporation (US)
- Teleflex Incorporated (US)
- Baxter International Inc. (US)
- Ethicon, Inc. (US)
- Hollister Incorporated (US)
- Becton, Dickinson and Company (US)
- Endo International plc (Ireland)
- Siemens Healthineers AG (Germany)
- Terumo Corporation (Japan)
- Abbott Laboratories (US)
Global Urology Devices Market Recent Developments
- In February 2022, KARL STORZ SE & Co. K.G. obtained approval from the U.S. Food and Drug Administration (FDA) for its Blue Light system to be used in conjunction with Photocure ASA's Cysview product for Blue Light Cystoscopy procedures. This approval enables the detection of non-muscle-invasive bladder cancer (NMIBC).
- In September 2021, LiNA Medical formed a partnership with UroCure to collaborate on the development of a range of surgical solutions specifically designed for female stress urinary incontinence.
- In January 2021, Advanced Medtech played a leading role in Devicare's series A fundraising event, which raised USD 3 million. The funds raised were intended to bring digitalized management medical devices and urological medical solutions to the market. This strategic investment by Devicare expands Advanced MedTech's product portfolio and strengthens its position as a frontrunner in urology and kidney stone management.
Global Urology Devices Key Market Trends
- Minimally invasive procedures: There is a growing trend towards minimally invasive procedures in urology, driven by the benefits of reduced surgical trauma, shorter hospital stays, faster recovery, and improved patient satisfaction. For example, the use of laparoscopic and robotic-assisted surgical systems for procedures like prostatectomy and nephrectomy has gained significant popularity. These techniques require specialized urology devices such as robotic surgical systems, laparoscopic instruments, and endoscopes.
- Integration of digital health technologies: The integration of digital health technologies with urology devices is a rising trend in the market. This includes the use of telemedicine, remote patient monitoring, and artificial intelligence (AI) for diagnosis and treatment decision-making. For instance, telemedicine platforms allow urologists to provide virtual consultations, reducing the need for in-person visits. AI algorithms can analyze medical imaging data to assist in the detection and characterization of urological conditions, aiding in early diagnosis and personalized treatment planning.
Global Urology Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Urology Devices Market analysis, the market is driven by rising prevalence of urological disorders such as urinary incontinence, kidney stones, and prostate cancer, coupled with the increasing geriatric population worldwide. Furthermore, advancements in technology and the development of minimally invasive surgical procedures have contributed to the market's growth by enhancing patient outcomes and reducing recovery time. Additionally, the growing demand for urology devices in emerging economies, improved healthcare infrastructure, and increasing healthcare expenditure are also fueling market expansion. However, factors such as the high cost associated with urology devices and the lack of skilled professionals in certain regions might pose challenges to market growth. Overall, with the increasing incidence of urological disorders and ongoing technological advancements, the global urology devices market is poised for robust growth in the foreseeable future.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 38.56 billion |
| Market size value in 2031 | USD 58.80 billion |
| Growth Rate | 4.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Urology Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Urology Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Urology Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Urology Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Urology Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Urology Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Urology Devices Market Report Snapshots
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