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Urology Devices Market Report
Urology Devices Market, By Product (Instruments, Consumables and Accessories), Application (Kidney Diseases, Urological Cancer, BPH), End User (Hospitals and Clinics, Dialysis Centers, Homecare), and Region - COVID-19 Impact Anal...
Impact of COVID-19 on Urology Devices Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Urology devices can be defined as the type of devices that are used to diagnose various diseases and disorders that are related to urinary tract systems. Some of the commonly used urology devices include Boston Scientific Corporation (US) and Baxter International Inc. (US). These devices are used to treat various types of diseases such as kidney diseases, urology cancer, and BPH.
The Urology Devices Market is projected to grow from USD 3.2 billion in 2020 to USD 4.6 billion by 2026 at a CAGR of around 6.1% during the forecast period.
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Urology Devices Market - Research Scope |
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Base Year of Study |
2020 |
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Trend Period |
2015-2019 |
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Forecast Period |
2021-2026 |
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Market Size in 2020 |
USD 3.2 billion |
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Market Size in 2026 |
USD 4.6 billion |
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Market Growth (2021-2026) |
6.1% CAGR |
The growth of the urology devices market is primarily driven by the increasing incidence of chronic kidney diseases. Expanding geriatric populace coupled with a rising preference for minimally invasive surgical procedures is another key factor that is likely to bolster the growth of the urology devices market at a significant rate during the review period. In addition to this, the growing emphasis on the development of advanced medical devices is likely to create lucrative opportunities for the players operating in the global market in the coming years.
The covid-19 outbreak posed significant challenges across verticals worldwide. It impacted the growth of the urology devices market negatively as supply disruptions affected the product availability in the market.
By end-user, the urology devices market has been bifurcated into hospitals and clinics, dialysis centers, and homecare. The hospitals & clinics segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to the established presence of healthcare infrastructure and skilled staff.
By region, the North American market accounted for the largest market share in 2020 and is projected to grow at a robust CAGR during the review period. This can be attributed to increasing investment in R&D activities to develop advanced medical devices coupled with expanding geriatric populace and the presence of key market players such as Boston Scientific Corporation (US) and Baxter International Inc. (US). The market growth in Asia-Pacific is expected to be driven by an increasing number of people suffering from urological disorders.
The covid-19 outbreak posed significant challenges across verticals worldwide. It impacted the growth of the urology devices market negatively as supply disruptions affected the product availability in the market.
Key players operating in the Urology Devices market are-
Here is the list of the group of customers that the urology devices market hopes to have the greatest opportunity to convert-
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The urology devices market size is expected to reach USD 4.6 billion in the foreseeable future.
The hospitals & clinics segment is expected to register significant growth in the urology devices market in the next five years.
The urology devices market is expected to witness an impressive growth of 6.1% CAGR in the coming years.
Fresenius Medical Care AG & Co. KGaA (Germany), Siemens AG (Germany), KARL STORZ SE & Co. KG (Germany), Boston Scientific Corporation (US), Baxter International Inc. (US), C. R. Bard, Inc. (US), Olympus Corporation (Japan), Richard Wolf GmbH (Germany), Intuitive Surgical, Inc. (US), Dornier MedTech (Germany), Cook Medical (US), Stryker Corporation (US), and Medtronic plc (Ireland) are among the key players in the urology devices market.
North America accounted for the largest share in the urology devices market in 2020.
Urology devices distributors, Urology devices suppliers, Urology devices manufacturers, Logistics organizations, Government bodies are the target audience in the urology devices market.
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