According to Fact.MR, the global urology devices market is expected to represent a value of over US$ 16,300 Mn by the end of 2026.
Competition Tracking
Leading market players operating in the global urology devices market include Siemens AG, Baxter International, Inc., Boston Scientific Corp, Stryker Corporation, Olympus Corporation, Cook Medical Inc., KARL STORZ GmbH & Co. KG and Richard Wolf GmbH.
Growing prevalence of urological diseases has led to surge in demand for the urological treatments. In addition, increasing geriatric population is further expected to propel demand for various urological treatments globally. Kidney stone, urinary incontinence, bladder cancer, stress incontinence and hematuria are a few urological diseases that continue to impact growth of the global urology devices in the global market.
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Prevalence of Kidney Diseases to Boost Adoption
Lack of water intake increasingly leads to prevalence of kidney stone among people of various age groups. Prevalence of urological diseases such as kidney stone can lead to painful urination, fever due to the infection in the urinary tract, vomiting and constant need to urinate. In addition, prevalence of bladder cancer has also led to surge in demand for minimally invasive and accurate treatment procedures. In addition, prevalence of obesity, chronic sneezing and coughing and excessive smoking result in increasing prevalence of stress incontinence. Moreover, increasing instances of prostate surgery and childbirth further contributes towards prevalence of stress incontinence. Increasing prevalence of stress incontinence is expected to fuel growth of the global urinary devices market during the forecast period.
Non-Invasive Technological Features to Rope In Significant Growth Opportunities
In order to offer convenient treatment procedures of kidney stones, manufacturers are focusing introducing non-invasive treatment procedures the healthcare professionals are increasingly using the ultrasound or x-ray therapy. Shock wave lithotripsy devices that use the ultrasound or x-ray technology in order to help the urologists locate stones in the kidney through the x-rays and break the ureteral stones in small fractions for convenient passage. Manufacturers in the healthcare industry are increasingly focusing on developing robot-assisted devices that are particularly tailored to be used for urology devices. Moreover, manufacturers are increasingly using leading technology for developing medical devices to offer optimum satisfaction to the patients. Such factors are expected to reflect positively towards growth of the global urology devices market during the forecast period.
Dialysis Devices to Represent a Leading Segment
Growing prevalence of chronic kidney diseases will continue to boost demand for dialysis devices in the healthcare industry. On the basis of product type, the dialysis devices segment is expected to represent the highest revenue growth, accounting for a value of over US$ 2,100 Mn by the end of 2026. However, the robotic systems product type segment is expected to reflect a robust CAGR throughout the forecast period.
Based on end users, the hospitals and clinics segment is expected to witness a significant revenue growth, recording for a value of over US$ 1,500 Mn by the end of 2017. On the contrary, the dialysis centers end use segment is expected to register a healthy CAGR through 2026.
By disease, the kidney diseases segment is expected to generate significant revenues, accounting for a value of over US$ 2,400 Mn by the end of 2026. In contrary, the cancer and BPH diseases segment is expected to register the highest CAGR during the forecast period.
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