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Future Growth of Urology Devices Market | Worldwide Top 10 Key Players Profile Analysis | Forecast till 2027
Urology Devices Market
According to WHO patients suffer from chronic renal failure are more than 190 million and further undergo renal dialysis. Moreover, over 220 million males suffer from diseases associated with prostate glands such as swelling that results in blockage of the flow of urine through the body. Prostate cancer is found to be the most common cancer among America males. According to the American Cancer Society, in 2014, there were 233,000 cases of prostate cancer.
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The number of products used for diagnosis and treatment for this market is relatively high and is considered as a major factor responsible for its large market share. The high incidence rate of urological cancers such as prostate cancer and bladder cancer, along with the availability and accessibility of diagnosis and treatment instruments in clinics and hospitals are the key factors driving the growth of the urology device market. However diverse factors such as patient safety risks due to chances of infection and other complications while using lack of skilled professionals, urology devices, in handling urology devices limits the growth of Urology devices global market.
According to Intuitive Surgical annual report, the global rise in procedures conducted with the help of da Vinci robotic surgical system performed outside the U.S. The urology procedures with the number of da Vinci Prostatectomies (dVP) market has increased to 92,000 in 2016 from 65,000 in 2014
Industry Updates
Dec, 2017 Stryker Corporation has announced definite merger with Entellus Medical, Inc. This acquisition signals the expansion of minimally invasive treatment for various disease states which is aligned with the services portfolio and high-end quality standard.
July, 2017 GE Healthcare acquired Novia Strategies. With this acquisition Novia Strategies will be a part of GE Healthcare Camden Group, with more than 2,400 hospitals and health systems. The acquisition will further enhance the partnership to lead the healthcare industry for the GE Healthcare Camden Group
March, 2015 Boston Scientific Corporation had entered into a definitive agreement to acquire American Medical Systems' Urology Portfolio. By this acquisition Boston Scientific will combine the businesses to provide leading solutions across major urology categories.
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Global Urology Devices Market - Regional Analysis
North America is the largest region in the urology devices market with leading dialysis. 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 expand its urology device market in the coming years. The factors such as rising awareness about urology devices for faster recovery, increasing hospital investments to improve infrastructure for urological disease treatment and market expansion opportunities in emerging nations to offer potential opportunities for the growth of urology devices market. 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.
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.
Global Urology Devices Market - Company Analysis
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), Fresenius Medical Care (Germany), Baxter (US), Richard Wolf (US), KARL STORZ (Germany), Medtronic (US), Dornier MedTech (Germany), Prometheus Group (US), Medi-Globe (US), Intuitive Surgical (US), Merit Medical Systems (US), Siemens Healthcare (Germany), Stryker (US), ROCAMED (France), Medica (Italy), NOVAmedtek (Turkey), SRS Medical Systems (US), ProSurg (US), Albyn Medical (UK), EMD Medical Technologies (Canada), and Biolitec (Germany) are some of the prominent players at the forefront of competition in the Global Urology Devices Market and are profiled in MRFR Analysis.
Merger and acquisition, research and development and new product launch are some of the key competitive strategies adopted by these players. In Sep 2013, Baxter International Inc. acquired Gambro AB, a medical device company. The acquisition is expected to expand Baxter’s dialysis product portfolio and its global geographic presence in the dialysis business.
The threats for the urology devices market include stringent regulations guiding urology manufacturers and rising cost of urology device.
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