Urology Devices Market by Product (Dialysis, Laser, Lithotripsy, Robotic, Insufflators, Guidewires, Catheters, Stents, Implants), Application (Kidney Diseases, Cancer, Pelvic Organ Prolapse, BPH, Stones), End User, and Region - Global Forecast to 2028

"Increase in the number of hospitals and surgical centers is driving the overall growth of the biology devices market."

The urology devices market is valued at an estimated USD 34.1 billion in 2023 and is projected to reach USD 48.6 billion by 2028, at a CAGR of 7.3% during the forecast period. Increase in the incidence of chronic diseases like diabetes and blood pressure has led to the increase in prevalence of the urological and kidney conditions which require care and surgical interventions. Urgent and timely treatment is required to manage these patients. The overall increase in the number of minimally invasive procedures is leading to the increased adoption of urology devices in order to ensure the safe and success of the procedures. This is driving the overall growth of the market.

"Consumables & accessories segment accounted for the highest growth rate in the urology devices market, by product, during the forecast period."

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The urology devices market is bifurcated into instruments and consumables & accessories on the basis of product. The instrument segment in the urology devices market is experiencing substantial growth, largely driven by the increasing incidence of diseases such as kidney diseases and cancers. Consumables & accessories segment is also growing due to the rising focus on R&D for the treatment of increasing incidence of chronic diseases.

"kidney diseases segment accounted for the highest growth rate in the urology devices market, by applications, during the forecast period."

The global urology devices market is bifurcated into kidney diseases, urological cancer, pelvic organ prolapse, benign prostatic hyperplasia, urinary incontinence, erectile dysfunction, urinary stones and other applications. The kidney diseases segment is currently witnessing the highest growth rate within the urology devices market. The rising geriatric population and rising incidence of chronic diseases affecting kidneys are the major factors driving this segment's growth.

"Dialysis centers segment accounted for the highest CAGR."

Based on end users, the urology devices market is segmented into hospitals, ASCs, and clinics, dialysis centers and home care settings. In 2020, the dialysis centers segment accounted for the highest growth rate. This can be attributed to the increased demand for advanced dialysis products and facilities for ESRD treatment.

"Asia Pacific: The fastest-growing region urology devices market."

The global urology devices market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is projected to register the highest CAGR during the forecast period. Growth in this region is expected to be centered on China and Japan. Factors such as the rising geriatric population, increasing prevalence of diabetes, high burden of kidney diseases such as CKD, increasing healthcare spending, growing per capita income, rising demand for cutting-edge technologies, expansion of private-sector hospitals to rural areas in various APAC countries, and the presence of high-growth markets are driving the growth of the urology devices market in this region.

The break-up of the profile of primary participants in the urology devices market:

By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
By Designation: C-level - 27%, D-level - 18%, and Others - 55%
By Region: North America - 51%, Europe - 21%, Asia Pacific - 18%, Latin America - 6%, and Middle East & Africa- 4%

The key players in urology devices market are Fresenius Medical Care AG & Co. KGaA (Germany), Baxter International, Inc. (US), Boston Scientific Corporation (US), Becton, Dickinson and Company (US), B. Braun Melsungen AG (Germany), Cardinal Health (US), Olympus Corporation (Japan), Intuitive Surgical (US), Coloplast A/S (Denmark), Stryker Corporation (US), Teleflex Incorporated (US), Convatec Group PLC (UK), Medtronic PLC (Ireland), Karl Storz (Germany), Cook Medical (US), Richard Wolf GmbH (Germany), CompactCath (US), Dornier MedTech (Germany), Nikkiso Co., Ltd. (Japan), Dialife SA (Switzerland), Erbe Vision (Germany), Well Lead Medical Co., Ltd. (China), ROCAMED (Germany), EndoMed Systems GmbH (Germany), Amniso International, Inc. (US), Medispec (US), Medical Technologies of Georgia (US), Vimex Sp. z o.o. (Poland), Balton Sp. z o.o. (Poland), Hunter Urology (UK), Ribbel International Ltd. (India).

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