Urology Devices Market Analysis | 2022-2028

"The Urology Devices Market was estimated to grow from USD 37 billion in 2021 to USD 49.34 billion by 2028 at a CAGR of around 4.2% during the forecast period of 2022-2028".

Market Dynamics

Introduction

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.

Market Drivers

Surging Cases of Urological Diseases

The demand for urology devices has surged due to the increasing cases of urological diseases and surgical procedures. Chronic kidney diseases, ESRD, urinary incontinence, kidney stones, and bladder and prostate cancer are among the conditions that require regular procedures. Technologically advanced devices are needed for major surgeries, requiring advanced technology for safe outcomes. In 2022, kidney diseases affected 37 million Americans, with 807,000 living with kidney failure, 562,000 undergoing dialysis, and 245,000 receiving transplants.

COVID-19 Impact on Urology Devices Market

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. 

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Segment Analysis

By Product Type

"Instruments segment accounted for the largest share in 2021"

The market is segmented into instruments and consumables & accessories. In 2021, the instruments segment accounted for the largest share of the urology devices market. Technological advancements coupled with the launch of advanced urology instruments is one of the major factors driving the growth of this segment.

By Application Type

"Kidney diseases segment accounted for the largest share in 2021"

The market is segmented into kidney diseases, urological cancer and BPH. Kidney diseases segment accounted for the largest share in 2021. The growing incidence of health complications associated with kidney is propelling the market growth. The rising geriatric population is another key factor supporting market growth.

By End-User Type

"Hospitals & clinics segment accounted for the largest market share in 2021"

The market has been bifurcated into hospitals and clinics, dialysis centers, and home care. The hospitals & clinics segment accounted for the largest market share in 2021 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.

Regional Trends

 "North American market accounted for the largest market share in 2021"

The North American market accounted for the largest market share in 2021 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 an 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.

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Key Players

The following are the key players in the Urology Devices Market (arranged alphabetically)

• Boston Scientific Corporation (US)
• Baxter International Inc. (US)
• C. R. Bard, Inc. (US)
• Cook Medical (US)
• Dornier MedTech (Germany)
• Fresenius Medical Care AG & Co. KGaA (Germany)
• Intuitive Surgical, Inc. (US)
• Siemens AG (Germany)
• KARL STORZ SE & Co. KG (Germany)
• Medtronic plc (Ireland).
• Olympus Corporation (Japan)
• Richard Wolf GmbH (Germany)
• Stryker Corporation (US)

Report Features

This report provides intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players and those willing to enter the market.

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Research Methodology

This report offers high-quality insights and results from a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.