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Global Urology Devices Market 2024 - Opportunity Analysis, Industry Trends, Business Segmentation And Forecast To 2033
Global Urology Devices Market
Urology Devices Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $49.93 billion In 2028 At A CAGR Of 6.0%.
The urology devices market size has grown strongly in recent years. It will grow from $37.1 billion in 2023 to $39.59 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to aging population, prevalence of urological disorders, advancements in minimally invasive procedures, awareness and diagnosis, healthcare infrastructure growth..
The urology devices market size is expected to see strong growth in the next few years. It will grow to $49.93 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to rising geriatric population, preventive healthcare measures, advancements in treatment modalities, global health challenges, patient-centric care.. Major trends in the forecast period include focus on female urology devices, development of next-generation urodynamic systems, expansion of urological endoscopy devices, personalized treatment approaches in erectile dysfunction, market growth in emerging economies..
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Urology Devices Market Major Segments
The urology devices market covered in this report is segmented -
1) By Product: Urology endoscopes, Robotic surgical systems, Laser systems, Lithotripters, Brachytherapy systems, High-intensity focused ultrasound (HIFU) systems, Urodynamic systems, Urology consumables
2) By Disease: Kidney Diseases, Urological Cancer and BPH, Pelvic Organ Prolapse, Other Diseases
3) By Technology: Minimally Invasive Surgery, Robotic Surgery, Other technologies
4) By End User: Hospitals And Clinics, Dialysis Centers, Other End Users
Key Driver - Rising Incidence Of Urologic Conditions Fuels Growth In The Urology Devices Market
The high incidence of urologic conditions is expected to propel the growth of the urology devices market going forward. Urologic conditions refer to the diseases that affect the urinary tract, such as urinary tract infections, bladder control problems, kidney stones, prostate problems, and others. As the global population continues to age and the prevalence of chronic diseases such as diabetes and obesity increases, the incidence of urological conditions is expected to rise. Urology devices and relevant equipment are required by the urologist for the proper diagnosis and treatment of these urological conditions, such as erectile dysfunction, kidney stones, prostate cancer, bladder cancer, and others, as a result, the high incidence of urologic conditions increases the demand for urology devices market. For instance, in 2022, according to a report by the Kidney Care Center, a US-based company specializing in the diagnosis and treatment of all kidney related conditions, kidney stones affect around one in 10 Americans at some time in their lives. Also, according to a 2022 report by the Children's Hospital of Philadelphia indicates that as global temperatures rise, the incidence of kidney stones will climb by 2.2% to 3.9%. Thus, the high incidence of urologic conditions is expected to drive the urology devices market.
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Prominent Trend - Strategic Partnerships Drive Innovation And Market Growth In Urology Devices Sector
Major companies operating in the urology device industry are adopting a strategic partnership approach to enhance research, development, and market penetration for innovative solutions. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in December 2021, MedicaMetrix Inc., a US-based medical device development company, collaborated with Emerson Hospital's Yeatts Urology Center, a US-based hospital company. Through this collaboration, they hope to create global urological centers of excellence, which will enhance patient treatment. The collaboration emphasizes how critical it is to introduce targeted treatment for prostate and other cancers to global markets, such as those in Europe and the Middle East.
Urology Devices Market Players
Major companies operating in the urology devices market report are Baxter International Inc., Boston Scientific Corporation, Cook Medical Incorporated, Stryker Corporation, Fresenius Medical Care AG & Co. KGaA, Intuitive Surgical Inc., Karl Storz SE & Co. KG, Medtronic PLC, Olympus Corporation, Siemens AG, Cardinal Health Inc, B. Braun Melsungen AG, Dornier Med Tech, Becton Dickinson and Company, Coloplast Corp., STERIS Corporation, Integer Holdings Corporation, Surgical Holdings Corp., C. R. Bard Inc., Endo Pharmaceuticals Inc., Healthtronics Inc., Argon Medical Devices Inc., Aspivix SA, Astellas Pharma Inc., Aytu BioScience Inc., DistalMotion SA, EDAP TMS, InnovaQuartz LLC, Lumenis, NeoTract Inc., NIKKISO CO. LTD, Pelvital USA Inc., Perineologic, Procept BioRobotics, Promaxo, Promedon GmbH, PSS Urology Inc., Roivant Sciences Inc., StyledWel, Taiho Pharmaceutical Co. Ltd., Teleflex Incorporated, Urologix LLC, UroMems, Urotech GmbH, Zenflow Inc. .
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Largest And Fastest Growing Region In The Market
North America was the largest region in the urology devices market in 2023. The regions covered in the urology devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Urology Devices Market Report Structure
3. Urology Devices Market Trends And Strategies
4. Urology Devices Market - Macro Economic Scenario
5. Urology Devices Market Size And Growth
…..
27. Urology Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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