Urology Devices Market Report

Market Insights

What are urology devices?

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.

Urology Devices Market Size, 2020-2026 (USD Billion)

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Market Drivers

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.

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. 

Segments' Analysis

End-User Trends

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.

Regional Trends

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.

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. 

Critical Questions Answered in the Report

• What are the key trends in the Urology Devices market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the Urology Devices market?
• What are the key strategies adopted by the major vendors to lead in the Urology Devices market?
• What is the market share of the top vendors?

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Key Players

Key players operating in the Urology Devices market are-

• 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)
• Medtronic plc (Ireland).

Target Audience

Here is the list of the group of customers that the urology devices market hopes to have the greatest opportunity to convert-

• Urology devices distributors
• Urology devices suppliers
• Urology devices manufacturers
• Logistics organizations
• Government bodies

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