Urology Devices Market to grow at 7.1% CAGR by 2023. Global Urology Devices Market Led by the North American Futuristic Technologies. Urology Devices Market By Types (Dialysis Equipment, Urinary Stone Treatment Devices, Endoscopy Devices, Benign Prostatic Hyperplasia Treatment Devices, Urinary Incontinence & Pelvic Organ Prolapsed), Technology (Minimally Invasive Surgery And Robotic Surgery), Applications (Benign Prostatic Hyperplasia, Prostate Cancer, Urinary Stones, Urinary Incontinence), By End Users (Hospitals, Ambulatory Services And Others) – Global Forecast Till 2023.
Players leading the urology devices market include Olympus Corporation (Japan), Medtronic (US), Karl Storz GmbH & Co. KG (Germany), C. R. Bard, Inc. (US), Cook (US), Boston Scientific Corporation (US), Fresenius Medical Care AG & Co. KGaA (Germany), Dornier MedTech (Germany), Stryker (US), Nikkiso CO. LTD (Japan), and HealthTronics, Inc (US), among others.
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The urology devices market is growing pervasively, worldwide, majorly due to the rising incidences of urinary tract system (UTS) disorders, especially in women and prostate cancer cases. Increasing prevalence of diseases associated with the UTS and reproductive organs in men & women escalate the market on the global platform.
According to Market Research Future (MRFR), the global urology devices market is poised to register a significant growth by 2023, growing at a CAGR of 7.1 % throughout the review period (2017 – 2023). Constant developments of advance urology devices to treat the increasing number of patients with kidney diseases are some of the key driving forces.
Additionally, well-spread awareness about the availability and benefits of urology devices are substantiating the market growth. Benefits of using urology devices in the treatment of renal diseases, such as reduced treatment and recovery time among patients, are fostering the growth of the market. Innovations in urology devices led by the increasing financial support for R&D and the increasing per capita health care expenditures are supporting the growth of this market to an extent.
Conversely, factors such as the high cost of urology devices are expected to impede the growth of the market. However, the emergence of many new processes such as Moses method would provide a huge impetus to the market growth, proving as game changers for urologists.
Furthermore, the shift toward less invasive treatment methods is expected to play a critical role in the urological device market. Also, the movement of prostate cancer treatment to less invasive alternatives from radical prostatectomy is estimated to foster market growth over the review period.
Global Urology Devices Market – Segments
For a better understanding of the report, the market is segmented into six key dynamics:
By Type: Dialysis Equipment, Urinary Stone Treatment Devices, Endoscopy Devices, Benign Prostatic Hyperplasia Treatment Devices, Urinary Incontinence & Pelvic Organ Prolapsed devices, among other devices.
By Dialysis Equipment: Haemodialysis and Peritoneal Dialysis, among others.
By Technology: Robotic Surgery and Minimally Invasive Surgery, among others
By Application: Prostate Cancer, Benign Prostatic Hyperplasia, Urinary Stones, and Urinary Incontinence, among others.
By End-user: Hospitals and Ambulatory Services, among others.
By Regions: Asia Pacific, North America, Europe, and Rest-of-the-World.
Global Urology Devices Market Regional Analysis:
The North American region would retain its dominance over the global urology devices market. The region would create a significant revenue pocket during the review period, due to the increasing prevalence of kidney stones, prostate cancer, and traumatic injury. The development of new urological devices and huge per capita health care expenses are some of the factors acting as significant driving forces contributing to the growth of the regional market.
The urology devices market in the European region is another lucrative market globally. Rising government support for R&D activities alongside, the increasing focus on the development of new devices is contributing to market growth. Moreover, the regional market is fostered by the growing numbers of specialty services offered by various healthcare providers.
The Asia Pacific urology devices market is rapidly emerging as a promising market globally. Rising incidents of occurrence of prostate cancer, kidney stones, and traumatic injuries are fueling the growth of the market. Moreover, the augmenting demand for quality equipment and proliferating healthcare technology would provide impetus to market growth, leading to increasing the uptake of urology devices. Furthermore, large unmet needs, huge patient pool, ever-increasing population, and improving economic conditions presage towards the opportunities in the market.
Global Urology Devices Market Competitive Analysis:
Highly competitive, the urology devices market appears to be diversified with the presence of a large number of players. These players are investing substantially in R&D activities to develop advanced technologies and in strategic initiatives such as acquisition, expansion, collaboration, and product launch. They acquire promising companies from the emerging markets to meet their expansion plans. Devices’ quality, reliability, and cost are parameters these players compete on.
Matured players strive to create a positive impact, maintaining social responsibility through charitable and environmental activities. Manufacturers operating in the market create unique solutions that can solve the needs and challenges of their customers. They work with physicians, nurses, and technicians around the world, which further helps them to identify unaddressed needs. Hence, the innovations and technologies that they deliver help clinicians to provide the best possible treatments to the patients in need.
June 11, 2019 — Lumenis (Israel), the leading global energy-based medical device company, announced that its proprietary patented MOSES™ Urology Laser Technology has won the 2019 Medical Design Excellence Award. It was the 21st Annual Medical Design Excellence Awards (MDEA) competition, and the category is operating room medical device.
MOSES Technology has improved urology care for patients worldwide, and the award is another demonstration of the real value MOSES provides to patients, physicians, and medical institutions.
Table Of Contents
1.2 Scope Of The Study
1.2.1 Research Objective
1.2.2 Assumptions & Limitations
1.3 Market Structure:
2 Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.4 Macroeconomic Indicators
4 Market Factor Analysis
4.1 Porters Five Forces Model
4.2 Bargaining Power Of Suppliers
4.3 Bargaining Power Of Buyers
4.4 Threat Of New Entrants
4.5 Threat Of Substitutes
4.6 Intensity Of Rivalry
- Global Urology Devices Market, By Types
5.1 Dialysis Equipment
5.1.1 Peritoneal Dialysis
5.2 Urinary Stone Treatment Devices
5.2.1 Uretral Stents
5.3 Endoscopy Devices
5.4 Benign Prostatic Hyperplasia Treatment Devices
5.4.1 Prostatic Stents
5.4.2 Catheter Ablation
5.5 Urinary Incontinence & Pelvic Organ Prolapsed Devices
5.5.1 Sacral Neuromodulation
5.5.2 Urethral Inserts & Pessaries
5.5.3 Vaginal Meshes & Slings
- Global Urology Devices Market, By Technology
6.1 Minimally Invasive Surgery
6.2 Robotic Surgery
- Global Urology Devices Market, By Application
7.1 Benign Prostatic Hyperplasia
7.2 Prostate Cancer
7.3 Urinary Stones
7.4 Urinary Incontinence
- Global Urology Devices Market, By End Users
8.3 Ambulatory Services
- Global Urology Devices Market, By Region
9.2.1 North America
LIST OF TABLES:
Table 1 Urology Devices Industry Synopsis, 2017–2023
Table 2 Global Urology Devices Market Estimates & Forecast, 2017–2023, (USD Million)
Table 3 Global Urology Devices Market, By Region, 2017–2023, (USD Million)
Table 4 Global Urology Devices Market, By Type, 2017–2023, (USD Million)
Table 5 Global Urology Devices Market, By Technology, 2017–2023, (USD Million)
LIST OF FIGURES:
Figure 1 Research Process
Figure 2 Segmentation For Global Urology Devices Market
Figure 3 Segmentation Market Dynamics For Urology Devices Market
Figure 4 Global Urology Devices Market Share, By Type 2016
Figure 5 Global Urology Devices Market Share, By Technology 2016
Figure 6 Global Urology Devices Market Share, By Application 2016
Figure 7 Global Urology Devices Market Share, By End-User, 2016
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