Urology Devices Market at 7.1% of CAGR Arises with Boston Scientific, Olympus, Coloplast, Cook Medical, C.R. Bard, Endo Health Solutions Inc. etc. till 2027

According to a recent study published by the Market Research Future analysts, the Global Urology Devices Market is growing at an exponential growth rate; mainly due to rising cases of urological diseases, increasing demand for advance healthcare devices, increasing rate of prostate and bladder cancers, diagnosis of patients with kidney diseases. All these factors are contributing to the growth of the market. Global Urology Devices Market is expected to grow at a CAGR 7.1% during the forecast period 2017-2023.

Urinary tract is the one of the vital systems of the body. Urological diseases include, kidney diseases, prostate problems, urinary tract infections, bladder control problems, and others. Different types of urological devices are present in the market and continuous development is being carried out to develop innovative and better instruments for the treatments. The global urology devices market is driven by rapid development in the medical devices, launch of new devices, and rising prevalence of urological diseases. Furthermore, increasing occurrence of diabetes, cardiovascular diseases & obesity, rising geriatric population, and high healthcare expenditure have fueled the market growth. However, poor reimbursement policies, is the major obstacle in the growth of market.

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Global Urology Devices Market – Key Players

The key players that are involved in Global Urology Devices market are American Medical Systems (U.S.), Boston Scientific (U.K.), Olympus (U.S.), Coloplast (Denmark), and Cook Medical (U.S.) C.R. Bard (U.S.), Endo Health Solutions Inc. (U.S) and many others.

Global Urology Devices Market – Competitive Landscape

The Global Urology Devices Market is experiencing extreme competition due to major companies are focusing on the development of the new and advances devices to overcome the disadvantages of the available devices. Some of the leading players have adopted various strategies such as acquisitions and strategic alliances for the growth of the market.

KARL STORZ GmbH & Co. KG, headquartered in Germany, founded in 1945, a medical company, produces and distributes medical instruments and devices across the world. The company is the leading market player and is one of the leading manufacturers in the field of industrial endoscopy. C-VIEW, IMAGE1 S, and AUTOCON III 400 are some of the major products of the company.

Olympus Corporation, headquartered in Tokyo, is a manufacturer of optics and reprography products. In 2015, the company launched five new urology products: GLIDEWIRE, ShockPulse- SE, UltraTrack Hybrid Guidewire, UroPass Access Sheath full portfolio, and 200 Series Laser Fiber

Global Urology Devices Market – Segments

The Global Urology Devices Market is categorized on the basis of types, applications, technology, end users and region. The market is segmented on the basis of types: dialysis equipment, urinary stone treatment devices, endoscopy devices, benign prostatic hyperplasia treatment devices, urinary incontinence & pelvic organ prolapsed devices, and others.

Dialysis equipment is further segmented into peritoneal dialysis, haemodialysis, and others. Urinary stone treatment devices are further segmented into ureteral stents, lithotripsy, and others. Urinary incontinence & pelvic organ prolapsed devices are further segmented into sacral neuromodulator, urethral inserts & pessaries, vaginal meshes & slings, and others. Benign prostatic hyperplasia treatment devices are further segmented into prostatic stents, catheter ablation, and others.

On the basis of technology, the market is segmented into minimally invasive surgery, robotic surgery, and others. On the basis of applications, the market is segmented into benign prostatic hyperplasia, prostate cancer, urinary stones, urinary incontinence and others. On the basis of end users, the market is categorized into hospitals, ambulatory services and others.

Global Urology Devices Market - Regional Analysis

North America is the largest market in the urology devices market with increasing cases of dialysis, and other lifestyle diseases. According to the Urologic Diseases in America (UDA) project, the U.S. population spends approximately $11 billion annually on the treatment and management of urological diseases.

Europe is the second largest market and is expected to catch up quickly with North American market in the coming years. The factors such as rising awareness about urology devices, increasing investments in hospital managements, healthcare facilities, medical infrastructure to support the acute as well as chronic urological disease conditions. Increasing government support in R&D and business opportunity generation has greatly impacted the market with emerging nations coming forward capitalizing the opportunities and boosting the growth of the urology device market. Apart from that, the European Association of Urology has undertaken efforts to increase the awareness in Europe about urological diseases among the population achieved through the promotion of prostate cancer screening and initiatives such as Urology Week.

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Asia Pacific region is a growing market attributed to rising prevalence of lifestyle diseases and government initiatives in establishing innovative technologies and demand for sophisticated medical services. Developing healthcare infrastructure and increasing investment in research and development in countries like India and China are pushing the growth of urology devices market in this region.

Middle East & Africa currently contribute least in the global market. However, the scenario is changing and with rising awareness among people and developing healthcare services, these regions are projected to generate good revenues to benefit the global urology devices market.

Major Table of Content

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

Continued….

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