Urology devices plays an important role from diagnosing to treating of various urinary tract disease and urological conditions, including kidney stones, urinary tract infections (UTIs), urinary incontinence, bladder cancer, etc. with use of equipment's like catheters, guidewires, uteroscopes, urodynamic systems etc.

MARKET OVERVIEW

The market valuation of urology devices market was valued USD 32.35 Billion in 2022 and estimated projection is USD 55.26 Billion with exhibiting CAGR of 7.2%. The growth is because of the increasing urological diseases resulting in the surge of use of urological devices.

GROWTH DRIVERS

Increasing incidents of urological disorders like kidney stones, urinary incontinence, urinary tract infection (UTIs), etc. among the population mostly the elderly people as they are more susceptible to urological disorders globally is the reason for increasing demand for the urological devices. Unhealthy dietary habits like processed foods which contains artificial ingredients, preservative, etc. and environmental factors like exposure to certain chemicals or polluted water leads to the rise of urological conditions. Technological advancements in the urological devices helps in very minimal surgery procedure which benefits as faster recovery and reduced post-surgery pain, driving the increase of urological devices.

MARKET SEGMENTATION:

·         By Product – Endoscopes, Lasers, Biopsy, Urodynamic systems, Consumables, and others

·         By Disease – kidney disease, Pelvic organ, Prostatic Hyperplasia and others

·         By End User – Hospitals, Clinics and Dialysis centers

·         By Region - North America, Europe, Asia Pacific, the Middle East and Africa, and South America.

Urological Devices Market by Product Type Segment Review:

Endoscopes plays a crucial role in diagnosis of urological disorders by providing visualization of the urinary tract and allows urologists to examine the bladder, urethra, ureters and detect abnormalities. Laser technology is of different types serving different types of purpose including applications in prostate surgery, blader tumor and lithotripsy. Biopsy devices such as needles forceps and brushes are inserted through endoscopes to collect samples from the bladder and ureters. Urodynamic systems are used to measure such as urine flow rate, bladder function and identify abnormalities to guide the treatment decisions and monitor the effectiveness of medications. Catheters, guidewires, stents, are the essential components used for several purposes like deliver medications, drainage from the urinary tract and other diagnostic tests.

Urological Devices Market by Location Segment Review:

Kidney stones treatment is performed by urological devices such as stents to relieve urinary obstruction while urodynamic system helps in urinary flow. Pelvic organs prolapse (POP) refers to the herniation of pelvic organs such as bladders or rectum in the vaginal canal, urological devices are used for providing structural support to the pelvic organs to get relief from pelvic pressure discomfort. Benign prostatic hyperplasia (BPH) is a common condition leading to urinary frequency or frequent urge to urinate, urological devices like laser therapy helps in reducing prostate volume and improve urinary flow.

Urological Devices Market by End User Analysis:

Hospitals are the biggest end user segment for the urological devices because of the infrastructure they require comprehensive range of urological devices as they need to cater a bigger number of patients for urological procedures and treatments. Specialty Urology Clinics uses urological devices such as ultrasound to examine patients. Dialysis centers primarily focuses on the facilitation of the removal of waste products and excess fluids from the blood streams with the help of Dialysis guidewire, hemodialysis catheter and hemodialysis/AV tubing kit.

Urological Devices Market by Regional Analysis:

The continuous shift towards value-based and advanced health care in the Ameria has potential growth for the minimally invasive surgery. Asia Pacific emerging market for urological devices because of the expanding population.  European region has a significant market for urological devices because of the large number of patients suffering from bladder disorders and approvals of urology devices by the C.E of European Commission is anticipated to the increase of the adoption of urological devices in Europe.

Key Challenges:

The technological advancement in the urological surgery is expensive to bear for individuals and people's acceptance is more for the medications rather than surgery options or urological implants used for urinary incontinence.

Competitive Landscape:

Companies invest heavily in research and development of manufacturing of the urological devices for making it cost effective and offering improve outcomes. Key players focus on expanding their presence through partnerships with hospital chains, strengthening their distribution networks and brand awareness through urological disorder campaigns and educational programs involving healthcare professionals. Quality assurance and customer support is the key for brand integrity and customer satisfaction leading in the surge of sales.

Global Key Players:

·         Boston Scientific

·         Medtronic

·         Cook

·         Baxter

·         Olympus

·         Karl Storz