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Urology Devices Market Share, Size, & Growth

Notable rise in the number of patients suffering from diabetes and high BP has fostered the demand for advanced urology devices in recent years.
Urology Devices Market

Market Scope

The urological devices market was valued at USD 36.5 billion in 2022 and is expected to rise from USD 37.96 billion in 2023 to USD 48.5 billion by 2032, with a compound annual growth rate (CAGR) of 4% between 2023 and 2032.

Growth Drivers and Challenges

Notable rise in the number of patients suffering from diabetes and high blood pressure (hypertension) has fostered the demand for advanced urology devices in recent years. These diseases are known for causing kidney failure. The American Kidney Fund’s recent studies show that nearly 40.4% of the overall kidney failure cases worldwide are caused by diabetes, while 30% is the result of high blood pressure. Cases of diabetes and hypertension have been surging exponentially in developing countries across Middle East and Asia Pacific, considering the prevalence of stressful and hectic lifestyle and the burgeoning elderly populace.

Another growth rendering factor can be the expanding geriatric population prone to kidney and urinary disorders. The demand for urology devices is further elevated by the mounting demand for minimally invasive procedures and surge in technical advances.

Market Segmentation

The MRFR study has outlined various aspects of the urology devices market share for enhanced understanding, shedding light on major segments like types, applications, technology, and end users.

Different types of urology devices available in the industry are endoscopy devices, urinary incontinence & pelvic organ prolapsed devices, urinary stone treatment devices, benign prostatic hyperplasia treatment devices, dialysis equipment, and more.

Urology devices’ top applications are Prostate Cancer, Urinary Incontinence, Urinary Stones, as well as Benign Prostatic Hyperplasia. Urinary stones occur in 1 in every 20 individuals, with the major reasons being diabetes, high blood pressure, and history of kidney failure. As a result, urology devices market insights are witnessing enormous demand for treating urinary stones, cases of which have been escalating rapidly worldwide.

Technology-wise, the segments are minimally invasive surgery, robotic surgery, and more.

End-users listed are ambulatory services, hospitals, and more.

Regional Analysis

The urology devices industry has been regionally considered for APAC/Asia Pacific, MEA/Middle East & Africa, the Americas, and Europe.

America maintains its winning streak and will continue to do so throughout the evaluation timeframe, thanks to the escalating cases of kidney stones, traumatic injury, prostate cancer, and others. The American Urological Association Foundation confirms that benign prostatic hyperplasia (BPH), urinary incontinence (UI), urinary tract infections, and kidney and ureteral stones are the top urological ailments occurring in the region.

Asia Pacific could be the fastest progressing market in the next few years, on account of the booming population with significant unmet medical needs and the surge in economic standards. Mounting cases of Benign Prostatic Hyperplasia (BPH) as well as Urinary Tract Infection (UTI) also raises the demand for urology devices.

Top Companies

The top urology devices manufacturers in the market are C. R. Bard Inc. (US), Boston Scientific Corporation (US), Stryker (US), Olympus Corporation (Japan), HealthTronics, Inc (US), KARL STORZ GmbH & Co. KG (Germany), NIKKISO CO. LTD (Japan), Medtronic (US), Dornier MedTech (Germany), Fresenius Medical Care AG & Co. KGaA (Germany), Cook (US), and many more.

These contenders expend huge amounts on research and development (R&D) for product innovation as well as new launches, which helps them gain a higher share in the worldwide industry. They also use strategies such as acquisitions, FDA approvals, collaborations, expansions, and joint ventures, among others.

For instance, in May 2021, Olympus Corporation acquired Medi-Tate Ltd., an Israeli medical device firm. The acquisition is projected to bolster Olympus’s position in the urological devices market, also bolstering its product offering for the treatment of benign prostatic hyperplasia (BPH) treatment.

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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