Urology Devices Market: Global Industry Analysis and Forecast (2022-2029) Trends, Statistics, Dynamics, Segmentation

Urology Devices Market was valued at US$ 32.4 Bn. in 2021. Global Urology Devices Market size is expected to grow at a CAGR of 6.8 % through the forecast period.
Urology Devices Market Overview:
The branch of medicine of urology treats conditions affecting the male and female urinary tracts as well as the male reproductive system. These illnesses include cancer, prostate issues, urinary tract infections, kidney stones, bladder control issues, and more.

Since urology tools are used in the surgical diagnosis and management of these conditions, genitourinary surgery is another name for the field. Cystoscopy, urodynamic testing, ureteroscopy, dialysis equipment, microsurgery, laser lithotripsy devices, and endovision systems are a few examples of urology diagnostic tools.



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Urology Devices Market Dynamics:
The rising incidence of kidney diseases: The primary cause of the growing use of dialysis equipment around the world is the rising frequency of kidney diseases such as chronic kidney disease and kidney failure. According to MMR, it is expected that there would be around 3.9 million chronic kidney failure cases in 2022 and more than 6.2 million cases by 2030. In addition, a large patient base for dialysis therapy increased the demand for dialysis supplies such as dialysate and hemodialysis equipment. The market is growing as a consequence of manufacturers releasing urology equipment on the market. The market is expected to rise as a result of new product introductions, rising kidney problem prevalence, and an increase in the number of people undergoing dialysis therapy.

Increasing prevalence of prostate cancer: The second most frequent cancer in males is prostate cancer. The fact that 70% of cases were recorded in developed nations like France, Australia, and North America highlights the disparity in prostate cancer incidence rates around the world. Many developing countries lack statistics on prostate cancer diagnoses, and particularly in Asia, claim greater mortality rates as a result of inadequate screening and postponed diagnosis. Also, the stage of prostate cancer that has been discovered affects how it is treated. According to MMR, the majority of physicians think that brachytherapy, external radiation, and surgery all have comparable success rates when used early in the phase of the disease. The rising incidence of prostate cancer is supplementing the need for urological equipment because there are several treatment alternatives and surgical urology devices available.

Increasing Research and Development for the Launch of Improved Technology Products: Healthcare providers and manufacturers have increased research and development activities for the introduction of technologically advanced urology devices as a result of the rising prevalence of various urological disorders like urolithiasis, chronic kidney diseases, urethral malignancies, and end-stage renal diseases. For example, urologists at UCI Health tested a novel laser technique in May 2021. Large kidney stones can be broken down into little pieces that can be readily suctioned or expelled from the body with this super-pulsed thulium fiber laser. During the forecast period, the market is expected to be driven by a focus on research activities. In addition to healthcare professionals, several manufacturers and nephrologists have developed cutting-edge urology equipment to treat a variety of kidney-related conditions.

The Adverse Effects of Cystoscopes: The market acceptance of cystoscopes has decreased as a result of several side effects including infections, bleeding, urine retention, and bladder perforation. In 2020, there were 10–20% more cases of urinary tract infection (UTI) connected with office cystoscopy, according to MMR. It is expected that these side effects will to some extent restrict the use of cystoscopes. In addition, the high cost of urological equipment is impeding the market growth. Many governments and agencies are educating urology medical facilities about the negative effects connected to the usage of these devices. The United States Food and Drug Administration (US FDA) said in April 2021 that it was looking into several medical device reports (MDRs) that revealed patient infections and other potentially contaminated consequences related to the reprocessing of urological endoscopes. It is expected that these infections linked to urological devices may hinder the market growth.

Profitable opportunities in emerging markets: For key market players, emerging economies like China, India, South Korea, Brazil, and Mexico present considerable growth opportunities. This is due to factors such as their low regulatory requirements, improved healthcare facilities, increasing patient populations, and rising healthcare costs. Compared to wealthy nations, the regulatory regulations in the Asia-Pacific region are more flexible and business-friendly. This has led important companies in the urological devices market to concentrate on growing nations, coupled with the increasing rivalry in existing markets.
Urology Devices Market COVID-19 Insights:
Within a few weeks, COVID-19 went from a regional disaster to a worldwide pandemic. After the World Health Organization (WHO) declared the COVID-19 outbreak to be a pandemic, a variety of well-established pharmaceutical and biopharmaceutical firms as well as tiny startups stepped up to provide medications and vaccines that specifically target the infection brought on by the new coronavirus. International health systems have been disrupted by the COVID-19 epidemic. Urological treatment and urology healthcare practitioners have been significantly impacted by this. Increasing COVID-19 cases around the world have flooded several healthcare institutions with seriously ill people.

Patients with the COVID-19 strain frequently have severe respiratory distress, which can lead to acute renal damage and, in rare situations, kidney failure. Approximately 10–50% of individuals with symptomatic COVID-19 admitted to critical care units have renal failure and need some sort of dialysis, as per the American Society of Nephrology. The need for dialysis operations is expected to increase due to the rising number of COVID-19-infected individuals over the world. Due to the growing desire for home dialysis due to travel constraints, the requirement for home dialysis devices has grown.
Urology Devices Market Segment Analysis:
Based on Disease, Kidney Diseases segment dominated the market with 23% share in 2021. Renal cyst, cystic kidney disease, chronic kidney disease, hemolytic-uremic syndrome, and lupus nephritis are only a few of the many kidney diseases. The majority of kidney diseases result in renal failure, thus early identification is necessary for effective treatment.

End-stage renal disease (ESRD) impacts more than 500,000 people annually in the US. Age affects the prevalence of CKD, with people 60 and older suffering the quickest progression. The frequency is 6% for people between the ages of 18 and 44 and 37.9% for those 65 and older.

According to MMR, end-stage renal disease (ESRD), also known as ESKD, would impact over 973,000 people in the United States by the year 2022, with 71% of them needing dialysis and 29% needing a kidney transplant. For every two women who acquire ESKD, three males also do. However, the majority of people globally do not receive an early diagnosis, which ultimately results in death.


Urology Devices Market Regional Insights:
The North America region dominated the market with 31 % share in 2021. One of the most untapped markets in the urology industry is benign prostatic hyperplasia (BPH), and numerous US-based businesses are attempting to improve their products in this area through acquisitions or partnerships. According to MMR, by the age of seven, one in ten girls and one in fifty boys will have a urinary tract infection. Boys are more likely to get infections while they are younger than a year old, whereas females are more likely to acquire them when they are older. Also, urinary tract infections (UTIs), which have a lifetime frequency of 50–60%, are the most prevalent outpatient infections in adult women. In the United States, UTIs make for a sizable portion of annual medical visits. This ailment drives the market by raising sales of urological equipment. UTIs are a huge social and personal burden.

The urological devices market is estimated to grow primarily due to technical advancements, a large proportion of urology patients in hospitals, and rising funding. The Asia Pacific region is expected to witness significant growth at a CAGR of 7.2% through the forecast period. The region's greatest CAGR may be attributed to the region's increased emphasis on improved healthcare infrastructure, greater public awareness of the diagnosis of urological problems, and an increase in product launches by businesses in India, Japan, and China.

The objective of the report is to present a comprehensive analysis of the global Urology Devices Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Urology Devices Market dynamic, structure by analyzing the market segments and projecting the Urology Devices Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Urology Devices Market make the report investor’s guide.
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Global Urology Devices Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 32.4 Bn.


Forecast Period 2022 to 2029 CAGR:
6.8%
Market Size in 2029:
US $ 51.35 Bn.


 Segments Covered:
by Disease
• Kidney Diseases
• Cancer and BPH
• Pelvic Organ Prolapse
• Other diseases


by Product Type
• Dialysis Devices
• Endoscopes
• Lasers & Lithotripsy Devices
• Robotic Systems
• Endovision Systems
• Peripheral Instruments
• Urodynamic Systems


by End-user
• Hospitals and Clinics
• Dialysis Centers
• Other End Users



Urology Devices Market by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Urology Devices Market Key Players
• 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)

Frequently Asked Questions:

1] What segments are covered in the Global Urology Devices Market report?
Ans. The segments covered in the Urology Devices Market report are based on Disease, Product Type, End-user and geography.

2] Which region is expected to hold the highest share in the Global Urology Devices Market?
Ans. The North America region is expected to hold the highest share in the Urology Devices Market.

3] What is the market size of the Global Urology Devices Market by 2029?
Ans. The market size of the Urology Devices Market by 2029 is expected to reach US$ 51.35 Bn.

4] What is the forecast period for the Global Urology Devices Market?
Ans. The forecast period for the Urology Devices Market is 2022-2029.

5] What was the market size of the Global Urology Devices Market in 2021?
Ans. The market size of the Urology Devices Market in 2021 was valued at US$ 32.4 Bn.