Global Urology Devices Market is expected to foresee significant growth during the forecast period. North America to witness the highest growth
Global Urology Devices Market is expected to reach the market valuation of USD XX billion by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2027) from USD XX billion in 2020. The increased incidence and prevalence of urological problems, as well as the expanding number of hospitals and investments in endoscopy and laparoscopy facilities, are driving market expansion.
The rising prevalence of various urological illnesses has resulted in upsurge of urology device usage around the world. According to the American Urological Association Foundation (AUAF), the most prevalent urological illnesses include benign prostatic hyperplasia (BPH), urine incontinence (UI), urinary tract infections (UTIS), and kidney and ureteral stones. Furthermore, according to the US Department of Health and Human Services, the overall prevalence of CKD in the US population is around 14%, and nearly half of those with CKD had diabetes and/or cardiovascular disease. More than 661,000 Americans are diagnosed with renal failure each year, with 468,000 receiving dialysis. Urinary tract infections (UTIs) are a frequent microbial infection that affects people of all ages. Every year, around 150 million people worldwide are affected by urinary tract infections (UTIs). Diabetic patients are more likely to get urinary tract infections (UTIs) and the consequences that come with them. As the global diabetes population grows, problems such as dysuria and organ damage are linked to UTIs, which are also on the rise.
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The COVID19 has resulted in a profound re-evaluation of the advantages and costs of Urology Devices. The COVID-19 pandemic has caused disruption in health systems worldwide. This has had a profound impact on urological care and urology care providers. Patients with the COVID-19 strain often have severe respiratory distress, which can lead to acute renal damage and, in some circumstances, kidney failure. According to the American Society of Nephrology, around 1050 percent of patients admitted to intensive care units with severe COVID-19 have renal failure that necessitates dialysis. The growing cases of COVID-19-infected patients across the globe is anticipated to boost the demand for dialysis procedures. In total, 139 of 372 patients (37%) died. Of the 156 patients with healthy kidneys, 32 (21%) died in the hospital, in contrast with 81 of 168 patients (48%) with newly developed kidney injury and 11 of 22 (50%) with CKD stage 1 through 4. 9 of 19 patients (47%) with end-stage renal failure (ESRF) who had already required routine outpatient dialysis died among the remaining 26 patients with CKD. As a result of the demand for dialysis treatment has surged the need for urology devices
Based on product, the market is fragmented into instruments and consumables & accessories. The instruments segment dominated the market in 2020 and generated the total revenue of USD XX billion. It is anticipated to maintain its dominance during the forecast period owing to technological advancements coupled with the launch of new and advanced urology instruments.
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Based on diseases, the market is fragmented into kidney diseases, urological cancer and BPH, pelvic organ prolapses, and other diseases. The kidney diseases segment dominated the market in 2020 and generated the total revenue of USD XX billion. It is anticipated to maintain its dominance during the forecast period owing to the growing patient pool of chronic kidney disease due to the rising geriatric population.
Based on end-users, the market is fragmented into hospitals and clinics, dialysis centers and others. The hospitals and clinics segment dominated the market in 2020 and generated the total revenue of USD XX billion. It is anticipated to maintain its dominance during the forecast period because of the rising number of hospitals and infrastructural & economic development, especially in emerging countries.
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Additionally, the report provides detailed initiatives that are being taken in the field of Urology Devices. The market is classified into distinct regions North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of USD XX billion in 2020 owing to the increasing prevalence of chronic and lifestyle conditions, increasing healthcare spending.
Major key players include Baxter, Boston Scientific, C. R. Bard, Medtronic, Siemens, Fresenius Medical Care AG & Co. KGaA, B. Braun Melsungen AG, Becton, Dickinson and Company, Stryker Corporation, and Sanofi are some of the prominent players operating in the global Urology Devices market. Several M&A’s along with partnerships have been undertaken by these players to develop Urology Devices.
Global Urology Devices Market Segmentation
Market Insight, by Product
- Dialysis Devices
- Endoscopes and Endovision Systems
- Lasers and Lithotripsy Devices
- Other Instruments
- Consumables and Accessories
- Dialysis Consumables
- Guidewires and Catheters
- Biopsy Devices
- Other Consumables and Accessories
Market Insight, by Diseases
- Kidney Diseases
- Urological Cancer and BPH
- Pelvic Organ Prolapse
- Other Diseases
Market Insight, by End-Users
- Hospitals and Clinics
- Dialysis Centers
- Other End Users
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Boston Scientific
- C. R. Bard
- Fresenius Medical Care AG & Co. KGaA
- B. Braun Melsungen AG
- Becton, Dickinson and Company
- Stryker Corporation