TOKYO, Nov. 29, 2022 (GLOBE NEWSWIRE) -- The Global Urology Devices Market Size accounted for USD 35.6 Billion in 2021 and is projected to occupy a market size of USD 60.2 Billion by 2030 growing at a CAGR of 6.1% from 2022 to 2030.
Urinary tract system disorders are the most commonly reported and detected urological disorders worldwide. It affects millions of people, having a significant impact on both physical and emotional health. This disorder affects far more women than men, and its prevalence increases with age. Some of the conditions that cause urinary tract system disorders are obesity, weak pelvic floor muscles, urinary tract infection, pregnancy, and neurological disorders. Approximately 200 million people worldwide suffer from urinary incontinence or bladder problems.
Urology Devices Market Statistics
- Global urology devices market value was USD 35.6 Billion in 2021 and expected to grow at CAGR of 6.1% from 2022 to 2030
- North America urology devices market share will gather around 38% market share in coming years
- According to the American Cancer Society’s estimation, over 81,180 people in the US will be diagnosed with bladder cancer by 2022
- Asia-Pacific urology devices market growth recorded substantial CAGR of 7% during the forecast timeframe from 2022 to 2030
- Among products, dialysis sub-segment collected USD 13.7 billion in revenue in 2021
- Based on end-user, hospitals collected USD 24 billion revenue in the base year
- Rising investments in urology facilities is a key urology devices market trend that fuels the industry growth
Urology Devices Market Growth Factors
- Increasing prevalence of urological conditions
- Rising preference of minimally invasive procedures
- Launch of technologically advanced products
- Growing research & development activities in the urology devices
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Urology Devices Market Report Coverage:
| Market | Urology Devices Market | |
| Urology Devices Market Size 2021 | USD 35.6 Billion | |
| Urology Devices Market Forecast 2030 | USD 60.2 Billion | |
| Urology Devices Market CAGR During 2022 - 2030 | 6.1% | |
| Urology Devices Market Analysis Period | 2018 - 2030 | |
| Urology Devices Market Base Year | 2021 | |
| Urology Devices Market Forecast Data | 2022 - 2030 | |
| Segments Covered | By Product, By End-User, And By Geography | |
| Urology Devices Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | Boston Scientific Corporation, C. R. Bard, Inc. (Becton, Dickinson and Company), Intuitive Surgical, KARL STORZ SE & Co. KG, Richard Wolf GmbH, Fresenius Medical Care, Cook Medical, Olympus Corporation, Siemens Healthineers (Siemens AG), Stryker, Braun Melsungen AG, Baxter International Inc., Medtronic, and Dornier MedTech, etc. | |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Urology Devices Market Dynamics
The rapidly growing geriatric population is expected to propel the global urology devices market forward. In the coming years, the large patient pool suffering from urinary disorders and other symptoms is expected to propel the worldwide urology devices market revenue. The rapid growth rate is due to the increased adoption of urology devices, the ease of availability of urology devices, and the global demand for minimally invasive products. Lack of water consumption causes kidney stones to form over time in people of all ages. Urological diseases, such as kidney stones, cause painful urination due to infection in the urinary tract. Furthermore, the occurrence of bladder cancer has increased demand for minimally invasive treatment procedures. Obesity, chronic diseases, and excessive smoking all contribute to an increase in the prevalence of stress incontinence. Furthermore, the rising prevalence of stress incontinence is expected to drive demand for urology devices in the coming years.
Furthermore, an increase in preference for minimally invasive devices for urology disorder treatment, favorable medical policies, and a rapid increase in the geriatric population are among the major factors driving urology device demand worldwide. Due to the large number of urinary disorder patients in countries such as India and China, the large geriatric population in Japan, and the increased adoption of innovative products in Japan and other emerging economies, Asia-Pacific is anticipated to expand at a high CAGR. These aspects are expected to drive the worldwide urology devices market forward.
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Urology Devices Market Segmentation
The global urology devices market is divided into three segments: product, end-user, and region. The global urology devices market is divided into dialysis, laser and lithotripsy, robotic systems, urodynamic systems, endoscopes, endovision system & peripheral instruments, urology guidewires, urology catheters, stents, urology dynamic systems, drainage bags, and others. The global urology devices market is divided into dialysis centers, hospitals, and others based on end-user. The global urology devices market is divided into five regions: North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa.
Urology Devices Market Share
According to our urology devices market analysis, the dialysis sub-segment obtained the most revenue in 2021 and is expected to continue this trend in the coming years. According to our urology devices market forecast, hospitals will dominate the industry from 2022 to 2030. During the forecast period, dialysis centers are expected to be the second-leading segment.
Urology Devices Market Regional Growth
North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa (MEA) are the regional categorization of the global urology devices industry. Among all the regions, North America accounted for over USD 13.5 billion in the global market in 2021. Growing number of cancer patients, increasing prevalence of elderly patients, and rapidly growing technological advancements in the healthcare industry are all supporting the North America urology devices industry. On the other hand, Asia-Pacific is anticipated to expand at a high CAGR due to the large number of urinary disorder patients in countries such as India and China, the large geriatric population in Japan, and the increased adoption of innovative products in Japan and other emerging economies. These aspects are expected to drive the worldwide urology devices market forward.
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Urology Devices Market Players
The prominent players operating in the global urology devices market are Boston Scientific Corporation, Braun Melsungen AG, Baxter International Inc., Cook Medical, C. R. Bard, Inc. (Becton, Dickinson and Company.), Fresenius Medical Care, KARL STORZ SE &Co. KG, Intuitive Surgical, Olympus Corporation, Richard Wolf GmbH, Siemens Healthineers (Siemens AG), Stryker, Medtronic, and Dornier MedTech, etc. These players have a wide geographical reach and are present in a variety of urology device segments. Manufacturers are implementing acquisition and collaboration strategies, as well as new product development strategies, to address the unmet needs of a large proportion of urinary disorder patients. In addition, key players have begun strategic initiatives such as partnerships, product launches, acquisitions, and mergers. R&D investments, combined with advanced robotic technologies used in UTS disorders, are expected to yield innovative treatment devices. This factor is expected to provide lucrative opportunities for global industry players.
Questions Answered By This Report
- What was the market size of Urology Devices Market in 2021?
- What will be the CAGR of Urology Devices Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Urology Devices Market?
- Which region held the largest share in Urology Devices Market in 2021?
- What are the key market drivers Urology Devices Market?
- Who is the largest end user Urology Devices Market?
- What will be the Urology Devices Market value in 2030?
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