Albany NY, United States: The global urology devices market was valued at US$ 38 Bn in 2021 and is projected to expand at a CAGR of 5.6% from 2022 to 2031.
Albany NY, United States: The global urology devices market was valued at US$ 38 Bn in 2021 and is projected to expand at a CAGR of 5.6% from 2022 to 2031.
Increase in demand for technologically advanced urology imaging equipment and urology surgical instruments that provide patient comfort, rise in prevalence & incidence of various urology conditions, and surge in demand for minimally invasive surgeries are expected to drive the global urology devices market. Rise in demand for advanced urology equipment with improved lubrication, ease of insertion, and less patient discomfort present lucrative opportunity in research & development in this field. For instance, emergence of nitinol-based guidewires has created new opportunities in the urology segment, owing to beneficial properties such as superelasticity, desirable shape, and maximal deflection without kinking. Moreover, advancements in technology has enabled manufacturers to offer customized urology equipment depending upon the need and application.
The dialysis products segment dominated the global urology devices market, accounting for 42% share in 2021. High demand for advanced dialysis instruments in emerging markets such as India, China, and Brazil is projected to drive the segment. Technical advancements in various dialysis instruments is expected to propel the dialysis products segment during the forecast period. Increase in installation base of dialysis devices and rise in prevalence of rare & chronic kidney diseases across the globe is likely to increase consumption of dialysis disposables & consumables during the forecast period.
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In terms of end-user, the hospitals segment is projected to expand at the fastest CAGR of 5.9% from 2022 to 2031. Rise in demand for urology equipment in the private sector and growth of new advanced devices such as robotic system for laparoscopic procedure are anticipated to drive the hospitals segment.
Geographically, North America was the largest consumer of urology equipment and urology instruments, accounting for 37% market share in 2021. The region is expected to dominate the global market during the forecast period. At the country level, the U.S. was the largest market for urology devices, accounting for over 90% share of the market in North America in 2021. This can be attributed to the early adoption of technologically advanced urinary incontinence treatment devices, large patient pool of urinary disorders, and easy availability & lucrative medical reimbursement policies in the U.S. and Canada.
Europe and Asia Pacific held considerable market share of 30% and 24%, respectively, in 2021, owing to the large population in countries in the regions, high prevalence & increase in incidence of urology disorders, surge in adoption of technologically advanced products such as CymActive foley catheter (a novel catheter to treat male patients with chronic urinary retention), large base of medical device companies in India and China, large geriatric population in Japan, and improving health care facilities in Asia Pacific. Additionally, the incidence of urological disorders like bladder cancer, urinary calculi, prostate diseases, and urolithiasis has increased, which has further increased the demand for urology lasers in Asia Pacific region. Latin America held small share of 4% of the global urology devices market in 2021.
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Key Takeaways
- In terms of revenue, the dialysis products segment held the largest share of over 40% in 2021, and the trend is expected to continue during the forecast period
- North America accounted for the largest share of 37% of the global market in 2021. The U.S. alone constituted over 90% of the market in the region in 2021.
- The market in Asia Pacific is likely to expand at a higher CAGR of 5.8% during the forecast period 2022 to 2031
- Vendors in the global urology devices market are adopting new strategies such as development of technologically advanced products and research & marketing collaborations. For instance, in May 2022, a researcher from University Hospitals Cleveland’s who developed a stent in collaboration with Ureteral Stent Co. received FDA approval for its RELIEF stent. The stent can be marketed in the U.S. for patients suffering from kidney stones and other issues causing difficulty with drainage of the kidney.
Global Urology Devices Market: Segmentation
Global Urology Devices Market, by Type
- Dialysis Products
- Endoscopes, Endovision Systems & Peripheral Instruments
- Laser & Lithotripsy
- Robotic Systems
- Urodynamic Systems
- Urology Catheters
- Biopsy Devices
- Stents
- Urology Guidewires
- Drainage Bags
- Others
Global Urology Devices Market, by End-user
- Hospitals
- Dialysis Centers
- Others
Global Urology Devices Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia and New Zealand
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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