Urology Devices Market By Product Type (Instruments, Consumables and Accessories), By End-Users (Hospitals & Clinics, Ambulatory Surgical Centers, Dialysis Centers, Home Healthcare) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

The urology devices market had a market value of US$ 31,647.8 million in 2017 and is expected to grow at a CAGR of 6.7% between 2018 and 2026. Urology diseases are one of the most varied and common types of diseases found in all age groups. According to the World Health Organization (WHO), urinary tract infection (UTI) is one of the most prevalent diseases, affecting around 150 million people every year.

In women, the lifetime risk of developing a urinary tract infection is 60%, while in men, the risk is only 13%. Overall diagnosis and treatment rates of urological diseases are gradually increasing with increasing awareness in developing and underdeveloped countries. The expanded reach of companies, as well as the penetration of government initiatives and supportive policies, have contributed to the significant growth of the overall urology devices market in Asia Pacific, South America, and Africa.

Market Synopsis

Increasing prevalence and awareness related to urology infections in developed and developing countries will assist in increasing the demand for urology diagnostic and treatment devices.

In 2017, instruments were identified as the largest segment in the urology devices market due to their high prices compared to consumables and accessories and the increasing prevalence and awareness related to urology infections. Endoscopes and lasers, and lithotripsy devices dominated the instruments segment, as these devices have a wide range of applications in the diagnosis and treatment of urological diseases. However, antibiotic resistance is also one of the major complications observed in bacterial infections affecting the urinary system. In these cases, drugs and devices are used in combination to deliver the desired therapeutic effect.

Rising awareness related to early disease diagnosis and improving the adoption of novel diagnostic and therapeutic technologies against urology diseases in Asia-Pacific would aid the market's growth.

In 2017, North America was identified as the largest urology devices market due to the increasing prevalence of prostate and kidney cancer, urinary incontinence, and pediatric urologic diseases, developed diagnostic infrastructure, and incessant development in the field of urology devices. According to UCLA Health, urologic diseases such as urinary tract infections, kidney stones, and prostate cancer have a major economic burden on Americans, with huge healthcare costs of around $40 billion annually.

During the forecast period from 2018 to 2026, Asia Pacific is expected to be the fastest-growing market for urology devices due to key factors such as rising prevalence and awareness related to urological diseases, developing healthcare infrastructure and economic development, and supportive healthcare policies structured by government agencies. The ongoing development of the diagnostic infrastructure, specifically in developing countries, has increased the overall rate of prevalence and treatment and is expected to continue in the near future.

Periods of History and Forecast

The urology devices market was analyzed considering current market trends for the base year of 2017, and based on future trends, CAGRs were calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

This report on the urology devices market provides an in-depth analysis specific to market dynamics, such as drivers, restraints, and opportunities that have prominent effects on the global and regional markets. The report also covers comprehensive details of the global urology devices market, segmented based on product type, end-users, and geography. The objective of publishing this syndicated research report is to aid industry stakeholders in understanding the current and future market scenario so they can strategize and implement policies.

This report further elucidates the major qualitative aspects, including data points such as major market trends and market dynamics, which will help to understand the global urology devices market. The major market players present in this market were studied based on attributes such as financial overview, product portfolio, business strategies, and geographical reach.

The report covers information related to the attractive investment proposition analyzed based on an in-depth geographical analysis of economic, social, political, and demographic factors. Major players present in this report comprise Fresenius Medical Care, Baxter, Karl Storz, Boston Scientific, Cook Medical, Olympus, Richard Wolf, and Medtronic, among others.

Key questions are answered in this report.

  • What are urology devices, and how are they evolving technologically?
  • What are the key products available to carry out the diagnosis and treatment of urological diseases?
  • What are the recent and future market dynamics adopted or planned by the major companies present in the urology devices market?
  • Which are the most attractive geographical markets for urology devices?
  • Which is the fastest-growing product segment of urology devices?
  • Which is the largest end-user segment in the urology devices market?
  • What is the competitive landscape of the urology device market?

Frequently Asked Question:

The market for Urology Devices Market is expected to reach USD$ 31,647.8 Mn in 2026.

The Urology Devices Market is expected to see significant CAGR growth over the coming years, at 6.7% .

The report is forecasted from 2018 -2026.

The base year of this report is 2017.

Medical Care, Baxter, Karl Storz, Boston Scientific, Cook Medical, Olympus, Richard Wolf, and Medtronic. are some of the major players in the global market.

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Published Date:  Mar 2019
Category:  Medical Devices
Report ID:   59640
Report Format:   PDF
Pages:   120
Rating:    4.4 (69)
Delivery Time: 24 Hours to 48 Hours   
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