The urological devices market is projected to grow at a rate of 6.7% in terms of value, from 2023 to reach USD 49.71 Billion by 2032. Urology is the branch of medical science concerned with the urinary system of the human bodies of all the age group, including the pediatric urinary system and the male reproductive organs. Other than the common urinary glands, epididymis, vas deferens, prostate, seminal vesicles, and penis are also treated by the concerned urology specialist or healthcare professionals sometimes. The urological devices are all the equipment involved in the urological operations, diagnosis, treatment, analysis, testing, and others. Kidney diseases, bladder prolapse, urinary tract infections, erectile dysfunction, prostatitis, urologic oncology, and pediatric urology, to name a few are some of the most common urological diseases that require the urological devices in the treatment system.
The global urological devices market is growing at a substantial pace as the number of urinary tract infections, kidney stones, and bladder cancer patients are drastically being propelled globally. Rising incidences of geriatric and pediatric urological disorders are few growing diseases that incorporate the urological devices in the procedures and treatments. Improving healthcare facilities in the developing regions are effectively helping in the market growth. An increased awareness about healthcare & wellness, changing urological disease patterns, government supports, and escalating volumes of urological healthcare services is expected to take part in the rapid growth of this market. Amongst the end-users, the hospitals segment is leading in the market owing to the incorporation and adoption of the highest number of devices in the hospitals. Medical stores & brand outlet is dominating the market but a higher growth rate has been forecasted for the online retailing sub-segment.
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North America held the highest market share of about 34.4% in 2023 in the urological devices market. North American market is being propelled by increasing incidents of geriatric urological diseases and increasing expenditure in healthcare cases. APAC, due to its record number of patients of urological disorders including male genital incidences, coupled with a drastic increase in the number of multispecialty healthcare centers in this region, is growing with the fastest CAGR of 9.0% throughout the forecast period. China, India, and Japan are some of the most valuable contributors in the Asia Pacific region.
Key Coverage of the Report
- Region and country wise statistics of the global urological devices market from the period 2023-2032. While 2023 & 2032 has been utilized as historical data, 2023 is considered the base year. 2022-2032 have been derived as forecasts.
- Estimation of the market size along with historical and forecasted trend analysis.
- Various types of alternatives available have been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.
- The regulatory framework of each region.
- Regional up-coming research and application outlook.
- Status of on-going developments.
- Regional prevalence of ambulatory care services has been mapped.
- Demand and Supply GAP Analysis
- Regional Competitors Pricing Strategy
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments.
Salient Trends of the Urological Devices Market
- Kidney & bladder diseases have been a significant concern for the age groups of 45 to 75. Geriatric urological disorders has the highest number of patient counts in the urological procedures worldwide. Although, the age group consists of male youths aging between 21 and 29 have substantially encountered to have diagnosed or undiagnosed with genital disorders in the recent past. The urological devices are predominantly used by all the end-users for treating and diagnosing these many patients. Clearly, the growing incidences of urological diseases and the extensive use of the urological devices in all the end-use verticals are the key drivers of this market.
- High cost related to the advanced urological devices is expected to restrain the market share as most of the mediocre and low volume hospitals often refrain from buying the advanced modern devices for their urology procedures. Increasing in the operation and treatment price is supposedly not to be appreciated by the patients, and investing extra money in those devices would not be a sustainable business model for them.
- The hospitals around the world have been incorporating the urological devices to test, diagnose, treat, operate, and other aids during the procedures and analysis of the urological diseases. The hospitals sub-segment is expected to reach a market share of 49.8% by 2032, and the CAGR is forecasted to be 6.8% during the period 2022 – 2032.
- Devices used in dialysis, filter the patient\’s blood to remove excess water and the waste products after the kidneys are damaged, not functional, dysfunctional, or even missing. The dialysis devices itself can be treated as an artificial kidney. The dialysis devices sub-segment consisting of the dialyzer, hemodialysis machine, and others, is expected to reach a market share of 33.9% by 2032.
- European region is forecasted to witness a significant growth in the overall market, with 27.6% of market possession by 2032, having grown with a CAGR of 6.4% during the forecast period. Germany holds some of the most prominent players in this region.
- North America, with its vast demand for urological devices in both hospitals & ambulatory surgical centers sub-segment and escalating volumes of geriatric urological disorder, is accounted to retain its superior position in the global market with a market share of about 35.3% by 2032.
- APAC, owing to the higher count of the urological patients coupled with remarkable advancements in the healthcare sectors in China, India, and Japan, is expected to grow with the fastest CAGR of 9.0% throughout the forecast period.
- In February 2022, The U.S. Federal Trade Commission approved the merger between Fresenius Medical Care AG & KGaA and hemodialysis machine developer and manufacturer NxStage Medical Inc. The approval was for the completion of a sale of the NxStage bloodline tubing products to the dialysis equipment supplier B. Braun Medical Inc.
Companies considered and profiled in this market study
Fresenius Medical Care AG & KGaA, Boston Scientific Corporation, Baxter International Inc., Richard Wolf, Karl Storz SE & Co. KG, Medtronic PLC, Cook Medical Incorporated, Olympus Corporation, C. R. Bard, Inc., and Siemens AG.
- The valuation for the global urological devices market was USD 36.35 Billion in 2022, and it is forecasted to reach USD 49.71 Billion by 2032.
- In the end-users segment, clinics & dialysis centers sub-segment is predicted to generate a revenue of USD 17.89 Billion by 2032, growing at a CAGR of 5.1% during the forecast period.
- Kidney & bladder diseases sub-segment is forecasted to achieve the market share of 51.7% by 2032, growing with a CAGR of 7.3% throughout the period 2022 to 2032.
- Laser and lithotripsy devices sub-segment is forecasted to gain a market share of 17.5% in 2032, having grown with a CAGR of 6.2% during the forecast period.
- Operating instruments & consumable accessories sub-segment in the devices type segment is calculated to achieve a market share of 29.6% by the year 2032. The CAGR is calculated to achieve a significant CAGR of 6.9% in this segment throughout the forecast period due to an immense rise of the patients, which require operational treatments in the urological organs.
Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2023 to 2032. For the purpose of this report, have segmented the global urological devices market on the basis of devices type, sales channel, urological diseases, end-users, and region:
Devices Type Outlook (Revenue, USD Billion; 2023-2032)
- Dialysis Devices
- Laser and Lithotripsy Devices
- Operating Instruments & Consumable Accessories
- Stents & Stimulators
Sales Channel Outlook (Revenue, USD Billion; 2023-2032)
- Online Retailing
- Medical Stores & Brand Outlet
Urological Diseases Outlook (Revenue, USD Billion; 2023-2032)
- Kidney & Bladder Diseases
- Cancer and BPH
- Pelvic Organ Prolapse
End-Users Outlook (Revenue, USD Billion; 2023-2032)
- Clinics & Dialysis Centers
- Ambulatory Surgical Center
Regional Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Asia Pacific
- Latin America
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