Urology Devices Market is Expected to Reach $48.6 Billion | MarketsandMarkets.

Chicago, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Urology Devices market in terms of revenue was estimated to be worth $34.1 billion in 2023 and is poised to reach $48.6 billion by 2028, growing at a CAGR of 7.3% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The increasing preference for minimally invasive surgery to control the rising incidence of urological diseases highlights the essential role of urology devices.

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Urology Devices Market Scope:

Report Coverage	Details
Market Revenue in 2023	$34.1 Billion
Estimated Value by 2028	$48.6 Billion
Growth Rate	Poised to grow at a CAGR of 7.3%
Market Size Available for	2021–2028
Forecast Period	2023–2028
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Product, application, end user, and region
Geographies Covered	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunity	Potential growth opportunities in emerging economies
Key Market Driver	Rising incidence of urological diseases

In recent years, the urology devices market has witnessed the emergence of novel and innovative technologies that are revolutionizing the urological care. The conventional approach for urological care involves tedious surgical procedures with longer recovery times. However, novel techniques in are emerging as potential substitutes or complementary strategies in instances where invasive surgical procedures fall short. Additionally, certain innovative methodologies, such as robotic surgeries, have the capability to accurately pinpoint various urological conditions and treat them.

Based on products, the global urology devices market is segmented into two segments, namely, instruments and consumables & accessories. In 2022, the instruments segment dominated the urology devices market. The significant growth of this segment can be attributed to the rising focus on R&D and product launches. Unlike consumables, instruments cost higher contributing to the higher market.

Based on Application, the urology devices market is segmented into kidney diseases, urological cancer, pelvic organ prolapse, benign prostatic hyperplasia, urinary incontinence, erectile dysfunction, urinary stones and other applications. In 2022, the kidney diseases segment dominated the urology devices market. There is an increase in incidence of kidney diseases worldwide, contributing to the higher market share.

Based on End users, the urology devices market is segmented into hospitals, ASCS & clinics, dialysis centers and home care settings. In 2022, the hospitals, ASCS & clinics segment dominated the urology devices market. The higher market share is attributed to the increasing adoption of urology instruments as well as consumables to serve the large patient population.

The global urology devices market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. During the forecast period, the Asia Pacific market is estimated to experience the highest CAGR. Many countries in the Asia Pacific region, including China, Japan, and India, have been experiencing steady growth in healthcare expenditure. Growth in this market can be attributed to the increasing prevalence of chronic conditions such as cancer, the growing per capita income, the expansion of private-sector hospitals to rural areas in various APAC countries, and the presence of high-growth markets in the region.

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Urology Devices market major players covered in the report, such as:

• Fresenius Medical Care AG & Co. KGaA (Germany)
• Baxter International, Inc. (US)
• Boston Scientific Corporation (US)
• Becton, Dickinson and Company (US)
• B. Braun Melsungen AG (Germany)
• Cardinal Health (US)
• Olympus Corporation (Japan)
• Intuitive Surgical (US)
• Coloplast A/S (Denmark)
• Stryker Corporation (US)
• Teleflex Incorporated (US)
• Convatec Group PLC (UK)
• Medtronic PLC (Ireland)
• Karl Storz (Germany)
• Cook Medical (US)
• Richard Wolf GmbH (Germany)
• CompactCath (US)
• Dornier MedTech (Germany)
• Nikkiso Co., Ltd. (Japan)
• Dialife SA (Switzerland)
• Erbe Vision (Germany)
• Well Lead Medical Co., Ltd. (China)
• ROCAMED (Germany)
• EndoMed Systems GmbH (Germany)
• Amniso International, Inc. (US)
• Medispec (US)
• Medical Technologies of Georgia (US)
• Vimex Sp. z o.o. (Poland)
• Balton Sp. z o.o. (Poland)
• Hunter Urology (UK)
• Ribbel International Ltd. (India)
• and Among Others

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This report categorizes the urology devices market based on product, application, end user, and region:

By Product

• Instruments
  • Dialysis Devices
    • Hemodialysis Devices
    • Peritoneal Dialysis Devices
  • Endoscopes       
    • Laparoscopes
    • Ureteroscopes
    • Nephroscopes
    • Resectoscopes
    • Cystoscopes
  • Laser & Lithotripsy Devices
  • Endovision & Imaging Devices
  • Robotic Systems
  • Insufflators        
  • Endoscopy Fluid Management Systems
  • Urodynamic Systems
  • Other Instruments         
• Consumables & Accessories
  • Dialysis Consumables
  • Catheters
  • Guidewires
  • Retrieval Devices & Extractors
  • Surgical Dissectors, Forceps, & Needle Holders
  • Dilator Sets & Urethral Access Sheaths
  • Stents and Implants
  • Biopsy Devices
  • Tubes & Distal Attachments
  • Drainage Bags
  • Other Consumables & Accessories

By Application

• Kidney Diseases
• Urological Cancer
• Pelvic Organ Prolapse
• Benign Prostatic Hyperplasia
• Urinary Incontinence
• Erectile Dysfunction
• Urinary Stones
• Other Applications

By End User

• Hospitals, ASCS & Clinics
• Dialysis Centers
• Home Care Settings

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Rest of Asia Pacific
• Latin America
• Middle East & Africa

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Urology Devices Industry Recent Developments:

• In August 2023, Fresenius Medical Care AG & Co. KGaA (Germany), announced FDA Clearance for the product Versi HD with GuideMe Software.
• In December 2022, Boston Scientific Corporation (US) and Acotec Scientific Holdings Limited (China) announced today that Boston Scientific will make a partial offer to acquire a majority stake, up to a maximum of 65%, of shares of Acotec, a Chinese medical technology company that offers solutions designed for a variety of interventional procedures.
• In May 2022, B. Braun SE (Germany) entered into a distribution agreement, and B. Braun surgery division Aesculap has strengthened its long-term partnership with True Digital Surgery, a Californian company that is an expert in robotically controlled 3D digital visualization.
• In April 2022, Baxter International, Inc. (US) Announces U.S. FDA Clearance of ST Set used for renal replacement therapy (CRRT)
• In April 2021, Becton, Dickinson and Company (US) announced an investment of USD 65 million for the construction of a state-of-the-art medical facility in Tucson, Arizona (US), which will serve as a final stage manufacturing and sterilization center to improve overall efficiency, customer service, and supply chain in the US.

Key Stakeholders:

• Manufacturers and distributors of urology devices
• Hospitals and ASCs
• Academic research institutes
• Urology clinics
• Urology device service providers
• Venture capitalists and investors
• Clinical research organizations (CROs)

Report Objectives:

• To define, describe, and forecast the urology devices market by product, application, end user, and region
• To forecast the size of the urology devices market with respect to five regional segments, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
• To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
• To analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall urology devices market
• To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
• To profile the key players in the urology devices market and comprehensively analyze their market shares and core competencies2 in terms of market developments and growth strategies
• To track and analyze competitive developments such as product launches, agreements, collaborations, partnerships, expansions, and acquisitions in the urology devices market
• To benchmark players within the urology devices market using the Company Evaluation Matrix framework, which analyzes market players on various parameters within the broad categories of business strategy, market share, and product offerings

Related Reports:

Endoscopy Equipment Market

Minimally Invasive Surgical Instruments Market

Hemodialysis and Peritoneal Dialysis Market

Urinary Catheters Market

Catheters Market

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