The Global Urology Devices Market is Predicted to Exhibit Remarkable Growth at CAGR of ~7% by 2027 | DelveInsight

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New York, USA, Jan. 24, 2023 (GLOBE NEWSWIRE) — The Global Urology Devices Market is Predicted to Exhibit Remarkable Growth at CAGR of ~7% by 2027 | DelveInsight

The urology devices market is experiencing a surge in product demand due to a variety of factors, including an aging population that is susceptible to developing various age-related indications such as benign prostatic hyperplasia in older men, an increase in the prevalence of kidney disorders such as kidney stones, and an increase in the prevalence of lifestyle disorders such as hypertension and diabetes, which may have an impact on the health of older men.

DelveInsight’s Urology Devices Market Insights report provides the current and forecast market analysis, individual leading urology devices companies’ market shares, challenges, urology devices market drivers, barriers, and trends, and key urology devices companies in the market.

Key Takeaways from the Urology Devices Market Report

  • As per DelveInsight estimates, North America is anticipated to dominate the global urology devices market during the forecast period. 
  • Notable urology devices companies such as Olympus, Baxter, Boston Scientific Corporation, Fresenius Medical Care, B. Braun Melsungen AG, Nipro Corporation, Medtronic, Cook, BestMedical, Potent Medical, Laborie, Well Lead Medical Co., Ltd, Amecath Medical Technologies, NIKKISO CO., LTD, Asahi Kasei Medical, Applied Medical Resources Corporation,  Advin Urology, DirexGroup, STORZ MEDICAL AG Richard Wolf GmbH, and several others are currently operating in the urology devices market.
  • In September 2022, Advanced MedTech Holdings announced the purchase of a majority stake in WIKKON, the Chinese market leader in urology and shock wave therapy devices.
  • In May 2022, the Johnson & Johnson subsidiary announced that its Monarch robotic surgery system had received a second FDA clearance, allowing it to be used in kidney stone removal procedures.
  • In May 2022, OmniGuide Holdings (OGH) announced that the US Food and Drug Administration approved RevoLixTM HTL, a family of pulsed and continuous wave Thulium YAG lasers that serves as the foundation of RevoLix Therapy for urology patients undergoing BPH and Stone Management procedures.
  • In January 2022, Applaud Medical, Inc received the Breakthrough Device designation from the U.S. Food and Drug Administration (FDA). The Acoustic Enhancer technology is designed to be used in conjunction with Ureteroscopy with Laser Lithotripsy (URS-LL).
  • In January 2021, the US Food and Drug Administration granted regulatory approval to Quanta Dialysis Technologies Ltd for their product- the hemodialysis system SC+. The device is a portable system that is capable of offering dialysis care comparable to full-sized dialysis equipment in a range of care settings.

To read more about the latest highlights related to the urology devices market, get a snapshot of the key highlights entailed in the Global Urology Devices Market Report

Urology Devices Overview

Urology devices encompass a wide range of devices used in the treatment of urogenital system indications. Urology devices aid in the diagnosis and treatment of a wide range of urological disorders, including urolithiasis, urethral malignancies, bladder disorders, and kidney diseases. Catheters, dilators, and sheaths are examples of consumables. Urodynamic systems, urology robotic systems, laser, and lithotropsy devices, cystoscopes, and ureteroscopes are among the devices used to diagnose bladder and urethral disorders.

Urology Devices Market Insights

North America is expected to account for the largest share of the urology devices market among all regions. This dominance is due to the rising prevalence of urinary tract cancers and an increasing population of patients suffering from lifestyle disorders such as obesity and hypertension, both of which play a role in the development of urogenital diseases. Furthermore, extensive product development efforts and the growing popularity of home-based dialysis devices are expected to drive product demand in the North American region. In addition to the factors mentioned above, new product launches and approvals and extensive coverage of procedural costs are expected to boost the urology devices market in North America.

To know more about why North America is leading the market growth in the urology devices market, get a snapshot of the Urology Devices Market Outlook 

Urology Devices Market Dynamics

The growing geriatric population is one of the key factors driving the urology devices market. The rising prevalence of chronic kidney disorders is another significant factor driving up product demand in the urology devices market. This can be attributed to the global rise in diabetes prevalence.

However, limitations associated with specific devices and high capital investments for certain devices may deter the growth of the urology devices market.

Aside from the factors mentioned above, the urology devices market was impacted by the COVID-19 pandemic lockdown. Because this urology devices market is highly diverse in terms of product type, the impact of the pandemic may vary depending on the product type. For example, while there was a slight decrease in dialysis services due to the critical nature of such procedures in terms of supporting life, the trends worldwide varied greatly. 

However, procedures classified as elective experienced a decrease in product demand and procedure completion. Nonetheless, the post-pandemic scenario provides a suitable environment for revenue generation for the urology devices market due to the resumption of full-capacity activities, thereby improving the market outlook for the urology devices market during the forecast period.

Get a sneak peek at the urology devices market dynamics @ Urology Devices Market Dynamics Analysis

Report Metrics Details
Coverage Global
Study Period 2019–2027
Base Year 2021
Urology Devices Market CAGR ~7%
Projected Urology Devices Market Size by 2027 USD 13.56 Billion
Key Urology Devices Companies Olympus, Baxter, Boston Scientific Corporation, Fresenius Medical Care, B. Braun Melsungen AG, Nipro Corporation, Medtronic, Cook, BestMedical, Potent Medical, Laborie, Well Lead Medical Co., Ltd, Amecath Medical Technologies, NIKKISO CO., LTD, Asahi Kasei Medical, Applied Medical Resources Corporation,  Advin Urology, DirexGroup, STORZ MEDICAL AG Richard Wolf GmbH, among others

Urology Devices Market Assessment

  • Urology Devices Market Segmentation
    • Market Segmentation By Product: Dialysis Devices, Endoscopes (Ureteroscopes, Nephroscopes, Resectoscopes, And Others), Uroodynamic Systems, Lithotripters, Biopsy Devices, Uretral Stents, and Others
    • Market Segmentation By End User: Hospitals, Specialty Clinics, and Others
    • Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
  • Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View

Which MedTech key players in the urology devices market are set to emerge as the trendsetter explore @ Urology Devices Companies 

Table of Contents 

1 Report Introduction
2 Executive summary
3 Regulatory and Patent Analysis
4 Key Factors Analysis
5 Porter’s Five Forces Analysis
6 COVID-19 Impact Analysis on Urology Devices Market
7 Urology Devices Market Layout
8 Global Company Share Analysis – Key 3-5 Companies
9 Urology Devices Market Company and Product Profiles
10 Project Approach
11 About DelveInsight

Interested in knowing the urology devices market by 2027? Click to get a snapshot of the Urology Devices Market Trends

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About DelveInsight

DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance.