North America to Dominate the Global Urology Devices Market till 2026
Increasing prevalence of chronic kidney
disease and rising old age population is expected to drive the demand for global
urology devices market in the forecast period.
According to TechSci Research report, “Global
Urology
Devices Market By Type (Endoscopes, Dialysis Devices, Laser &
Lithotripsy Devices, Endovision & Imaging Devices, Catheters, Urodynamic
Systems, Stents, Biopsy Devices, Others) By Procedure Type (Minimally Invasive
Surgery Devices v/s Robotic Surgery) By Application (Kidney Diseases,
Urological Cancer & BPH, Pelvic Organ Prolapse, Others) By End User
(Hospitals & Clinics, Ambulatory Care Centers, Dialysis Centers, Home Care
Settings) By Company, By Region, Forecast & Opportunities, 2026”, The global
urology devices market is expected to witness steady growth for the upcoming
five years. Increase in occurrence of diabetes and hypertension is boosting the
demand for urology devices across the world. Technological advancements along
with favorable government policies promoting healthcare infrastructure are
another crucial factors influencing he urology devices market growth.
The COVID-19 outbreak across the world which has
been declared as pandemic by World Health Organization has affected countries
adversely. Leading authorities across the world-imposed lockdown restrictions
and released a set of precautionary measures to contain the spread of novel
coronavirus. Coronavirus affected patients started suffering from shortness of
breath, coughing, and sneezing along with cases of acute kidney failure which
may result into kidney failure. Leading authorities increased the capacity of
hospitals as a greater number of patients were getting affected daily and
getting admitted into the hospital facilities. Patients suffering from kidney
failure require the dialysis treatment and the growing number of patients
suffering from coronavirus is expected to bolster the demand for dialysis
machines. Also, the preference for home dialysis machines due to presence of
travel restrictions and already over-burdened hospital facilities is expected
to foster the demand for home dialysis equipment for the forecast period.
However, high cost involved for research and
development activities and the requirement of huge capital investments may
create hindrance in the global urology devices market growth.
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Global urology devices market is segmented into type,
procedure type, application, end user, regional distribution, and company. Based
on application, market can be further divided into kidney diseases, urological
cancer & BPH, pelvic organ prolapses, and others. The kidney diseases
application segment is expected to account for major market share for the
forecast period, 2022-2026. Rising geriatric population is increasing the
existing patient pool suffering from kidney diseases which is considered a
major driver for the growth of the urology devices market. Kidney diseases
includes chronic kidney disease, renal cyst, cystic kidney diseases, among
others leading to case of kidney failure and require early diagnosis and
treatment. Based on type, urology devices market can be divided into endoscopes,
dialysis devices, laser & lithotripsy devices, endovision & imaging
devices, catheters, urodynamic systems, stents, biopsy devices, and others. The
catheters type segment is expected to witness fastest incremental growth for
the forecast period due to huge application of catheters in treatment of renal
transplants complications, decompression of the perinephric or nephric fluid
collection, and nondilated obstructive therapy.
Boston Scientific Corporation, Fresenius Medical Care AG
& Co. KGaA, Baxter International Inc., Becton, Dickinson, and Company,
Olympus Corporation, B. Braun Melsungen AG, Medtronic Plc., Stryker
Corporation, Teleflex Incorporated, Cook Medical, Inc. are the leading players
operating in global urology devices market. Manufacturers are increasingly
focusing on research and development process to fuel higher growth in the
market. To meet evolving customer demand with respect to better efficiency and
durability, several urology devices manufacturers are coming up with their
technologically advanced offerings.
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“Rise
in demand for quality treatment from emerging economies is expected to create
lucrative opportunities for the growth of the urological devices market.
Developing countries like India, China, Malaysia, Brazil offers low regulatory
barriers, large patient pool, continuous development of healthcare
infrastructure and high-end investments to ensure effective treatment
facilities. Moreover, supportive government policies to promote healthcare
industry by proving reimbursement policies and insurance cover to widen the
reach of healthcare facilities to every sector of society is expected to propel
the urology devices market growth until 2026” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Global Urology Devices Market By Type (Endoscopes, Dialysis Devices,
Laser & Lithotripsy Devices, Endovision & Imaging Devices, Catheters,
Urodynamic Systems, Stents, Biopsy Devices, Others) By Procedure Type
(Minimally Invasive Surgery Devices v/s Robotic Surgery) By Application (Kidney
Diseases, Urological Cancer & BPH, Pelvic Organ Prolapse, Others) By End
User (Hospitals & Clinics, Ambulatory Care Centers, Dialysis Centers, Home Care
Settings) By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of global urology
devices market and provided statistics & information on market size, shares,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the of global urology
devices market.
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