Urology Devices Market Overview
Market Research Future (MRFR)’s latest report reveals that the global urology devices market size is poised to thrive at 7.1% CAGR during the forecast period 2017 to 2023. Urology devices are effective in the treatment of ailments related to organs such as adrenal glands, urinary bladder, ureters, urethra, etc. In addition, the rising prevalence of diseases associated with male reproductive organs and female urinary tract system is likely to expedite the growth of the urology devices market in the upcoming years.
Urology device finds application in the treatment of diseases such as prostate cancer, traumatic injury, kidney stones, and congenital abnormalities among others. The increasing patient pool of these diseases is projected to catapult the urology devices market on the trajectory of growth during the projection period.
Investments are prognosticated to flow towards research & development of these devices. This, in turn, is anticipated to augment the urology devices market size in the forthcoming years. The market is forecasted to remain highly lucrative over 2023. Furthermore, an expansion of market presence for these devices is foreseen, which is predicted to catalyze the proliferation of the global urology devices market. Nevertheless, expensiveness of urology devices remains impediments to market growth.
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Urology Devices Market Segmentation
On the basis of type, the global urology devices market size has been segmented into dialysis equipment, urinary stone treatment devices, dialysis equipment, endoscopy devices, urinary incontinence & pelvic organ prolapsed devices, benign prostatic hyperplasia treatment devices, and others.
· The dialysis equipment segment is further sub-segmented into hemodialysis, peritoneal dialysis, and others.
· The urinary stone treatment devices segment has been sub-segmented into lithotripsy, ureteral stents, and others.
· The urinary incontinence & pelvic organ prolapsed devices segment are sub-segmented into urethral inserts & pessaries, sacral neuromodulator, vaginal meshes & slings, and others.
· The benign prostatic hyperplasia treatment devices segment has been further sub-segmented into catheter ablation, prostatic stents, and others.
· On the basis of technology, the urology devices market has been segmented into robotic surgery, minimally invasive surgery, and others.
· On the basis of application, the global urology devices market has been segmented into prostate cancer, urinary stones, benign prostatic hyperplasia, urinary incontinence, and others.
· On the basis of end-users, the urology devices market is segmented into ambulatory services, hospitals, and others.
Urology Devices Market Regional Analysis
The Global Urology Devices Market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas presently account for the largest share of the global market. It is expected to exhibit significant growth over the assessment period owing to technological developments, increasing healthcare expenditure and rising prevalence of diseases such as kidney stones, traumatic injury, etc.
Europe has the second largest share of the global urology devices market and is expected to retain its market share towards the end of the forecast period. The growth can be ascribed to the rising geriatric population and accelerated investments in research & development.
Asia Pacific is an extremely lucrative market and has been prognosticated to strike the highest CAGR over the projection period. The strong economic growth of the region coupled with developments in the healthcare sector is projected to drive the growth of the regional market. Meanwhile, the Middle East & Africa is poised to witness limited growth due to limited availability of standard healthcare facilities in certain regions.
Market Players
· Globus Medical, Inc. (U.S.)
· Depuy Synthes Inc. (Johnson & Johnson) (U.S.)
· Smith & Nephew plc. (UK)
· NuVasive, Inc. (U.S.)
· Stryker Corporation (U.S.)
· Integra LifeSciences Holdings Corporation (U.S.)
· Zimmer Biomet Holdings, Inc. (U.S.)
· Medtronic, plc (Ireland)
· Wright Medical Group N.V. (Netherlands)
· The Orthopedic Implant Company (U.S.)
· Aesculap Implant Systems (U.S.)
· Conmed Corporation (U.S.)
· BioTek Instruments, Inc. (U.S.)
· Arthrocare Corporation (U.S.)
among others are some key companies in the global Digital Genome that are listed by MRFR for market research.
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