The ever-evolving Coronavirus (COVID-19) has caused interruptions in supply chains of companies in the Urology Devices Market. Through careful analysis of the COVID-19, our analysts at Fact.MR offer you a bird’s eye view of the current on goings of top tier companies in the Urology Devices Market. Learn how leading companies are striking potential partnership agreements to generate sales in the Urology Devices Market.
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Prevalence of various urological disorders has led to an upsurge in adoption of the urology devices globally. In addition, growing geriatric population is also projected to impact the global market growth of urology devices positively. Fact.MR states that the global market of urology devices is further to reflect a CAGR of 6.4% over the forecast period, 2017-2026.
Factors Fuelling Global Market Growth
Growth of the global urology devices market is mainly bound to various macro-economic and micro-economic factors. Prevalence of kidney diseases will continue to fuel demand for various invasive and minimally treatment procedures. Unhygienic habits developed due to fast-paced lifestyle has led to increasing prevalence of various urological disorders among people of various age groups. Unmanaged obesity, excessive smoking and chronic coughing and sneezing has led to growing prevalence of diseases such as stress incontinence globally.
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Moreover, surge in instances of childbirth and prostate surgery is further expected to contribute towards the global market growth of urology devices significantly. As childbirth surgery weakens the sphincter in women, they are more prone to urological diseases such as stress incontinence. In men, growing prevalence of prostate cancer requires a prostate gland, which could weaken the sphincter.
Prevalence of diseases such as stress incontinence is further to rev up adoption of the urology devices in the healthcare industry. Growing incidence of kidney stone due to lack of water intake among old age people will also continue to fuel adoption of various urological diseases. Untreated kidney stone diseases can result in other healthcare issues such as vomiting, persistent need to urinate, fever owing to infections in urinary tract. As demand for minimally treatment remains high, the healthcare professionals are significantly adopting shock wave lithotripsy devices for accurate treatment of kidney stones.
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Bound to these factors, the global market of urology devices is projected to witness significant growth through 2026.
Market Dynamics
| Region | Product Type | End User | Disease |
| North America | Dialysis Devices | Hospitals and Clinics | Kidney Diseases |
| Latin America | Endoscopes | Dialysis Centers | Cancer and BPH |
| Europe | Lasers & Lithotripsy Devices | Other End Users | Pelvic Organ Prolapse |
| Japan | Robotic Systems | Other diseases | |
| APEJ | Endovision Systems | ||
| MEA | Peripheral Instruments | ||
| Urodynamic Systems |
Sales to Remain High for Kidney Diseases
Prevalence of various chronic kidney disorders is projected to fuel demand for urological disorders for dialysis treatment. In terms of revenue, the dialysis devices product type segment is projected to witness the highest growth, recording more than US$ 2,100 Mn by 2026-end. In contrary, the robotic systems product type segment is projected to reflect significant CAGR over the forecast period.
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By 2017-end, the hospitals and clinics end use segment is projected to generate significant revenues, accounting for more than US$ 1,500 Mn. However, the dialysis centers end use segment is projected to reflect a healthy CAGR throughout 2026. Throughout the forecast period, the cancer and BPH diseases segment is projected to reflect the fastest growth in the global market. On the other hand, the kidney disease segment is projected to witness robust revenue growth, recording more than US$ 2,400 Mn by 2026-end.
Market Players
Major players in the global market of urology devices are Baxter International, Inc., Siemens AG, Stryker Corporation, Boston Scientific Corp, Cook Medical Inc., Olympus Corporation, Richard Wolf GmbH and KARL STORZ GmbH & Co. KG.
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