Global Urology Devices Market to Witness a CAGR of 7.63% during 2018-2024

Industry : Press Releases Date : March 27th, 2019
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Urology Devices Market

Global urology devices market is likely to augment from USD 30.9 billion in 2017, and is expected to reach USD 51.7 billion by 2024, witnessing a CAGR of 7.63% during the forecast period. The market growth is primarily attributed to the increasing incidence of urological disorders, and rising geriatric population across the globe. Moreover, technological advancements in urology devices and treatments, and new product launches are further propelling the market growth.

Key findings of the report:

  • The global urology devices market is expected to reach USD 51.7 billion in 2024, at a CAGR of 7.63% during 2018 -2024
  • Based on the end-user, the hospital segment held the major share of the global market in 2017
  • Asia-Pacific region is expected to register highest CAGR over the forecast period
  • Some of the key companies operating in the market include Olympus Corporation, Dornier MedTech., Boston Scientific Corporation, Richard Wolf GmbH, Cook Medical Inc., Fresenius Medical Care, KARL STORZ SE & Co. KG,, Stryker Corporation, C. R. Bard, Inc., Baxter International Inc., and Medtronic

Technological advancements driving the urology devices market

Urological diseases include urinary tract infections, kidney diseases, bladder control problems, and prostate problems, among others. About 12% global population suffers from urological disorders and it has been associated with an increasing risk of end-stage renal failure. Different types of urological medical devices are present in the market, and continuous research and development is being carried out to develop innovative and better device for the treatments. The growth of the urological device industry is driven by the increasing prevalence of urological disorders and increasing occurrence of obesity, cardiovascular diseases, and diabetes. Furthermore, technological advancements in minimally invasive surgery and robot-assisted surgery are also expected to augment the market growth during the forecast period. Robot-assisted surgery has been widely used in urology, however, highly qualified technical level of surgeons and expensive cost of surgery in developing countries may hamper the market growth to some extent.

Browse full research report with TOC on “Global Urology Devices Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024” at: https://www.energiasmarketresearch.com/global-urology-devices-market-report/

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Global Urology Devices Market– Regional insight

North America held the major share of the global market owing to growing research and development spending, and technological advancements such as surgical robotic systems. Moreover, higher reimbursement rates will also significantly influence the market growth in the region. Asia-Pacific is expected to witness the highest CAGR during the forecast period, owing to increasing incidence of urological diseases such as urinary tract diseases, kidney stone, and prostate cancer, among others. In addition, growing medical tourism, increasing demand for advanced diagnostic and treatment solutions, and growing healthcare insurance sector are further propelling the market growth in the region.

This report segments global urology devices market based on type, disease, technology, end-user and geography.

By Type

  • Incontinence
    • Male Slings
    • Urinary Catheters
    • Artificial Urinary Sphincters
    • Urinary Drainage Bag
    • Vaginal Slings
    • Urethral Bulking Agents
  • Urinary Stone Treatment Devices
    • Retrieval Device
    • Ureteral Stents
    • Holmium Lasers
    • Extracorporeal Shockwave Lithotripsy
    • Others
  • Dialysis Equipment
    • Hemodialysis
    • Peritoneal Dialysis
    • Others
  • Ureteral Access
    • Guidewires
    • Ureteral Access Sheaths
    • Ureteral Balloon Dilators
  • Nephrostomy
    • Nephrostomy Catheters
    • Nephrostomy Kits
    • Nephrostomy Balloons
  • Others

By Disease

  • Urological Cancer and BPH
  • Pelvic Organ Prolapse
  • Kidney Diseases
  • Others

By Technology

  • Robotic Surgery
  • Minimally Invasive Surgery
  • Others

By End-user

  • Dialysis Centers
  • Ambulatory Surgical Centers
  • Hospitals

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Central & South America
  • Middle East and Africa

Global Urology Devices Market to Witness a CAGR of 7.63% during 2018-2024