Bharat Book Bureau Provides the Trending Market Research Report on “Urology Devices- Market Insights, Competitive Landscape and Market Forecast–2027 “under Life Sciences Market Research Report category. The Urology Devices Market is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports. Urology Devices Market By Product Type (Dialysis Devices, Endoscopes [Ureteroscopes, Nephroscopes, Resectoscopes, And Others], Uroodynamic Systems, Lithotripters, Biopsy Devices, Uretral Stents, And Others), By End User (Hospitals, Specialty Clinics, And Others), And by geography is expected to grow at an appreciable CAGR forecast till 2027 owing to rising prevalence of urogenital disorders such as kidney stones and cancers of urogenital systemGlobal urology devices market was valued at USD 9.17 billion in 2021, growing at a CAGR of 6.78% during the forecast period from 2022 to 2027 to reach USD 13.56 billion by 2027. The urology devices market is witnessing an explosion in product demand due to numerous reasons such as increasing geriatric population who make up for a formidable share of the total population susceptible to developing various age-related indications such as benign prostatic hyperplasia in older men, increasing prevalence of kidney disorders such as kidney stones, growing prevalence of lifestyle disorders such as hypertension and diabetes that may impact the health of organs in the urinary system such as kidneys over a long period of time. Additionally, product development activities in terms of product approvals, regulatory support such as assigning of special designations also play a key role in establishing an upward growth trend in the urology devices market during the forecast period from 2022-2027.Urology Devices Market Dynamics:One of the key aspects driving the urology devices market is the surging geriatric population. As per the data provided by the World Health Organization in their Decade of Healthy Ageing (2020–2030) Report, the number of people aged 60 years and older will be 34% higher, increasing from one billion in 2019 to 1.4 billion in 2030. By 2050, the global population of older people will have more than doubled to 2.1 billion. Ageing is considered to cause numerous problems in the elderly associated with urinary tract. For instance, the elderly population is highly susceptible to various kidney and bladder problems such as urinary incontinence, benign prostatic hyperplasia and other ailments. While being treated for such indications, urology devices are employed in various stages of disease diagnosis and treatment. Therefore, the demand for urology devices is said to witness an increase owing to the increasing geriatric population thereby driving the growth of the global urology devices market during the forecast period (2022-2027).Another prominent aspect responsible for driving up the product demand in the urology devices market is the rising prevalence of chronic kidney disorders. This can be attributed to the rising prevalence of diabetes across the globe. According to the data provided by the International Diabetes Federation in their tenth edition of the IDF Diabetes Atlas, in 2021, 537 million people in the age group of 20-79 were diagnosed with diabetes globally. The same source further predicted that the by 2030, the prevalence of diabetes is expected to rise to 643 million. Hyperglycemia is linked with the development of diabetic kidney disease which in itself plays as a key risk factor for chronic kidney disease and end stage renal disease. It has been established in numerous research high blood sugar levels affect the kidneys in multifactorial ways. For instance, high blood sugar result in the narrowing of blood vessels supplying the kidney which significantly impacts the filtration capacities of the kidneys. High glycemic levels are associated with chronic hemodynamic and metabolic changes which in turn, are associated with changes in the signaling pathways, cytokines, transcription factors, and other factors.Moreover, hyperglycemia is also linked with the development of kidney stones. High blood glucose levels are linked with increased acidity in the blood. This in turn is associated with increased acidity in urine which in turn is responsible for the heightened risk of kidney stones. Therefore, the rising prevalence of diabetes is linked with the increasing number of cases associated with kidney diseases such as diabetic kidney disease and end stage renal disease thereby driving the demand for dialysis procedures and ultimately positively influencing the urology devices market during the forecast period (2022-2027).However, limitations associated with particular devices as well as high capital investments for certain devices, may prove to be deterrents to urology devices market growth.Besides the above-mentioned factors, the urology devices market was impacted by the imposition of the lockdown due to the COVID-19 pandemic. As this specific market is highly diverse in terms of product type, the impact of the pandemic may have varied impact on the different product types. For instance, even though due to the urgent nature of dialysis services in terms of supporting life, there was a slight dip in conductance of such procedures however the trends across the globe varied massively. However, procedures that were considered under the elective category witnessed a dip in product demand and conductance of procedures. Although, the post-pandemic scenario provides an opportune environment for revenue generation for urology devices market due to the resumption of activities in full capacity thereby improving the market outlook for the urology devices market during the forecast period.Urology Devices Market Segment Analysis:Urology Devices Market by Product Type (Dialysis Devices, Endoscopes [Ureteroscopes, Nephroscopes, Resectoscopes, and Others], Urodynamic Systems, Lithotripters, Biopsy Devices, Uretral Stents, and Others), by End User (Hospitals, Specialty Clinics, and Others), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World)In the product type segment of the urology devices market, dialysis devices category is estimated to account for significant revenue share in urology devices market. This can be attributed to the rising need for dialysis procedures. This can further be ascribed to the growing cases of kidney failure in people due to rising aging population and increasing prevalence of lifestyle disorders such as diabetes and hypertension. Additionally, considering the lifesaving nature of this therapy, it was deemed essential even during the COVID-19 pandemic, which helped maintain the product demand during the pandemic. Therefore, the market for dialysis devices is predicted to register remarkable growth during the forecast period eventually driving the growth of urology devices market in coming years.North America is expected to dominate the overall Urology Devices Market:Among all the regions, North America is estimated to account for the largest share in the dialysis devices market. This domination is due to the rising prevalence of cancers of the urinary tract, rising population of patients suffering from lifestyle disorders such as obesity and hypertension that play a key role in the development of urogenital diseases. Moreover, extensive efforts in product developmental activities and growing popularity of home-based dialysis devices are further expected to drive the product demand in the North American region. In addition to the above-stated factors, the new product launches and approvals and the extensive coverage of procedural cost specifically in the United States and Canada are expected to further boost the market for urology devices in North America.
One of the factors stimulating the uptake of urology devices in the region is the high prevalence of various cancers in the abdominal region. For instance, as per the data quoted by the National Cancer institute (United States), till April 2021, bladder and kidney cancers were some of the common cancer types in the United States. Additionally, as per the statistics cited by the American Cancer Society, in 2021, approximately 83,730 new cases of bladder cancer cases were reported in the United States. In events of cancer spread, depending on the degree of metastasis, different procedures are employed such as laparoscopic nephrectomy and robot-assisted nephrectomy are employed. Different products such as ureteroscopes, surgical robotic systems, cystoscopes, among other products are used. Therefore, considering the increase in the prevalence of cancers in the urinary system, it is expected that the demand for urology devices would also increase in the coming years in the United States, thereby driving the overall growth of the urology devices market.In addition to the above-stated fact, obesity is thought to play a key role in the rising prevalence of urological diseases in the North American population, more specifically in the United States. For instance, as per the data provided by the Centers for Disease Control and Prevention (2021), in 2017-2018, the prevalence of obesity in the United States was reported to impact 42.4% of the total population of the country. Obesity has been established as a formidable risk factor for the development of various urological diseases such as prostate cancer wherein mortality associated with prostate cancer has been reported to be significantly higher in patients with increased body mass index. Similar trends have been reported for other urological disorders such as urinary incontinence, nephrolithiasis, urinary tract infections, kidney cancer among other indications. Therefore, the United States urology devices market may witness an appreciable growth in revenue generation due to potential increase in disease burden associated with urology diseases with increase in obesity.Furthermore, the product development activities and product approvals by the concerned regulatory authority in North American countries are further expected to drive the product demand in the region. For instance, in January 2022, Applaud Medical, Inc received the Breakthrough Device designation from the U.S. Food and Drug Administration (FDA). The Acoustic Enhancer technology is designed to be used in conjunction with Ureteroscopy with Laser Lithotripsy (URS-LL).Urology Devices Market Key Players:Some of the key market players operating in the urology devices market includes Olympus, Baxter, Boston Scientific Corporation, Fresenius Medical Care, B. Braun Melsungen AG, Nipro Corporation, Medtronic, Cook, BestMedical, Potent Medical, Laborie, Well Lead Medical Co.,Ltd, Amecath Medical Technologies, , NIKKISO CO., LTD, Asahi Kasei Medical, Applied Medical Resources Corporation, Advin Urology, DirexGroup, STORZ MEDICAL AG Richard Wolf GmbH and others.Recent Developmental Activities in Urology Devices Market:• In January 2021, the US Food and Drug Administration granted the regulatory approval to Quanta Dialysis Technologies Ltd for their product- hemodialysis system SC+. The device is a portable system which is capable of offering dialysis care comparable to full-sized dialysis equipment in a range of care settings.• In October 2020, Allium Medical Solutions Ltd. received the CE mark approval for their urological stents for treating ureteral fistulas.• In August 2020, the US FDA granted the emergency-use authorization (EUA) for REGIOCIT which is intended to be used as a replacement solution specifically in adult patients who are being treated with CRRT and for whom regional citrate anticoagulation is considered appropriate.Key Takeaways from the Urology Devices Market Report Study? Market size analysis for current urology devices market size (2021), and market forecast for 5 years (2022-2027)? The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the urology devices market.? Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years? Key companies dominating the global urology devices market.? Various opportunities available for the other competitor in the urology devices market space.? What are the top performing segments in 2021? How these segments will perform in 2027.? Which is the top-performing regions and countries in the current urology devices market scenario?? Which are the regions and countries where companies should have concentrated on opportunities for urology devices market growth in the coming future?Target Audience who can be benefited from this Urology Devices Market Report Study? Urology Devices products providers? Research organizations and consulting companies? Urology Devices-related organizations, associations, forums, and other alliances? Government and corporate offices? Start-up companies, venture capitalists, and private equity firms? Distributors and Traders dealing in urology devices? Various end users who want to know more about the urology devices market and latest technological developments in the urology devices market.Frequently Asked Questions for Urology Devices Market:1. What are Urology Devices?Urology devices encompass a variety of devices which are used in the treatment of indications specific to the urogenital systems. These devices include lithotripsy systems, urodynamic devices, and dialysis devices among others.2. What is the market for Global Urology Devices?Global urology devices market was valued at USD 9.17 billion in 2021, growing at a CAGR of 6.78% during the forecast period from 2022 to 2027 to reach USD 13.56 billion by 2027.3. What are the drivers for Global Urology Devices Market?The urology devices market is witnessing an explosion in product demand due to numerous reasons such as increasing geriatric population who make up for a formidable share of the total population susceptible to developing various age-related indications such as benign prostatic hyperplasia in older men, increasing prevalence of kidney disorders such as kidney stones, growing prevalence of lifestyle disorders such as hypertension and diabetes that may impact the health of organs in the urinary system such as kidneys over a long period of time. Additionally, product development activities in terms of product approvals, regulatory support such as assigning of special designations also play a key role in establishing an upward growth trend in the urology devices market during the forecast period from 2022-2027 .4. Who are the key players operating in Global Urology Devices Market?Some of the key market players operating in the urology devices market includes Olympus, Baxter, Boston Scientific Corporation, Fresenius Medical Care, B. Braun Melsungen AG, Nipro Corporation, Medtronic, Cook, BestMedical, Potent Medical, Laborie, Well Lead Medical Co.,Ltd, Amecath Medical Technologies, , NIKKISO CO., LTD, Asahi Kasei Medical, Applied Medical Resources Corporation, Advin Urology, DirexGroup, STORZ MEDICAL AG Richard Wolf GmbH and others.5. Which region has the highest share in Urology Devices market?Among all the regions, North America is estimated to account for the largest share in the dialysis devices market. This domination is due to the rising prevalence of cancers of the urinary tract, rising population of patients suffering from lifestyle disorders such as obesity and hypertension that play a key role in the development of urogenital diseases. Moreover, extensive efforts in product developmental activities and growing popularity of home-based dialysis devices are further expected to drive the product demand in the North American region. In addition to the above-stated factors, the new product launches and approvals and the extensive coverage of procedural cost specifically in the United States and Canada are expected to further boost the market for urology devices in North America.
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