The rising incidence and prevalence of urological conditions drives growth in the urology devices market, growing preference for minimally invasive procedures, and the growing number of hospitals and investments in endoscopy and laparoscopy facilities are among the other factors. Emerging economies such as China and Japan are providing lucrative opportunities for the players operating in the urology devices market.
The report Urology Devices Market is projected to reach USD 46.4 billion by 2026 from USD 38.0 billion in 2021, at a CAGR of 4.1%.
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Market Segmentation: -
The instruments segment accounted for the largest share of the urology devices market, by product segment, in 2020
Based on product, the urology devices market is segmented into instruments and consumables & accessories. The instruments segment accounted for the largest share of the urology devices market in 2020. This segment includes dialysis devices, endoscopes, laser and lithotripsy devices, robotic systems, endovision and imaging systems, insufflators, endoscopy fluid management systems, and urodynamic systems. The dialysis devices segment accounted for the largest share of the urology instruments market in 2020. The large share of this segment can be attributed to the growing patient pool of CKD due to the rising geriatric population.
Urological cancer and BPH segment to register the highest growth rate during the forecast period
The urology devices market is segmented into kidney diseases, urological cancer and BPH, pelvic organ prolapse, and other applications based on application. In 2020, the urological cancer and BPH segment accounted for the highest growth rate. This can be attributed to the rising incidence of urological cancers coupled with the growing number of cancer-related surgeries.
The hospitals, ASCs, and clinics segment accounted for the largest share of the urology devices market, by end user segment, in 2020
Based on end users, the urology devices market is segmented into hospitals, ASCs, and clinics; dialysis centers; and home care settings. In 2020, the hospitals, ASCs, and clinics segment accounted for the largest share of the urology devices market. The improving healthcare infrastructure in developing countries such as India, the rising number of target procedures, and the rising number of surgeries are the major factors driving this segments growth.
Regional Analysis: -
The urology devices market is segmented into five regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the urology devices market. The large share of this region can be attributed to the increasing healthcare expenditure, highly developed healthcare systems in the US and Canada, and increasing prevalence of chronic and lifestyle conditions.
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Top Key Players: -
The major players operating in this market are Fresenius Medical Care AG & Co. KGaA (Germany), Baxter International Inc. (US), Boston Scientific Corporation (US), Becton, Dickinson and Company (US), Olympus Corporation (Japan), B. Braun Melsungen AG (Germany), Stryker Corporation (US), KARL STORZ (Germany), Cook Medical (US), Intuitive Surgical (US), Medtronic plc (Ireland), Cardinal Health (US), Teleflex Incorporated (US), Richard Wolf GmbH (Germany), CompactCath (US), Dornier MedTech (Germany), Nikkiso Co., Ltd. (Japan), Balton Sp. z o.o. (Poland), Dialife SA (Switzerland), Maxer Endoscopy GmbH (Germany), Vimex Sp. z o.o. (Poland), Amsino International, Inc. (US), ROCAMED (Monaco), Well Lead Medical Co., Ltd. (China), Medispec (US), Medical Technologies of Georgia (Georgia), EndoMed Systems GmbH (Germany), Hunter Urology (England), J and M Urinary Catheters LLC (US), and Ribbel International Limited (India).