The Global Urology Devices Market in terms of revenue was estimated to be worth $38.0 billion in 2021 and is poised to reach $46.4 billion by 2026, growing at a CAGR of 4.1% from 2021 to 2026. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. Investments by hospitals for procuring advanced instruments, expanding units, and establishing new centers are expected to boost the market for urology devices. Moreover, increased demand for MIS robotic systems is expected to increase in the coming years, which is expected to propel the market growth.

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Instruments segment to dominate the urology devices market

Technological advancements coupled with the launch of new and advanced urology instruments and the increasing incidence of kidney diseases are the major factors driving the growth of the instruments segment. However, the repetitive use of instruments for surgeries can cause infections. To prevent infections from occurring, the instruments are sterilized and disinfected. The reuse of such instruments after sterilization and disinfection can be a major challenge to the growth of the market as it limits the demand for new products.

Kidney diseases segment is expected to have largest share of the urology devices market during the forecast period

Kidney disease is one of the leading causes of death across the globe. Early diagnosis and treatment help to reduce further damage to the kidney, thereby helping in disease management. If left untreated, it may lead to kidney failure or end-stage renal disease (ESRD), a severe life-threatening condition. Therefore, the growing incidence of kidney diseases coupled with the health complications associated with them is driving the demand for urological interventions to manage them, which, in turn, is propelling the market for urology devices.

Hospitals, ASCs, and clinics segment is expected to have largest share of the urology devices market during the forecast period

Hospitals, ASCs, and clinics provide urology diagnostic services and treatment and are equipped with extensive infrastructure to carry out invasive and noninvasive procedures that may not be available with pathology laboratories attached to medical care centers. They offer various advantages like better and specialized testing capabilities, efficient billing and collection systems, technologically advanced urology devices, and lower test costs. Additionally, the growth in the number of ASCs, coupled with the growing number of surgical procedures performed in ASCs, is expected to drive the demand for urology devices in this end-user segment.

Asia Pacific is expected to be the fastest growing region of the urology devices market during the forecast period.

The Asia Pacific is the third-largest market for urology devices globally. Currently, the market in the Asia Pacific is relatively smaller than developed markets across North America and Europe. However, the Asia Pacific market is expected to grow at the highest CAGR during the forecast period. The Asia Pacific, which is becoming a medical tourism hub, is considered one of the fastest-growing markets for medical procedures and devices. Low infrastructure and treatment costs and the availability of highly educated physicians have driven medical tourists to APAC countries. This is a major factor aiding the growth of the market in the Asia Pacific.

Key Players:

Fresenius Medical Care AG & Co. KGaA (Germany), Baxter International Inc. (US), Boston Scientific Corporation (US), Becton, Dickinson and Company (US), Olympus Corporation (Japan), B. Braun Melsungen AG (Germany), Stryker Corporation (US), KARL STORZ (Germany), Cook Medical (US), Intuitive Surgical (US), Medtronic plc (Ireland), Cardinal Health (US), Teleflex Incorporated (US), Richard Wolf GmbH (Germany), CompactCath (US), Dornier MedTech (Germany), Nikkiso Co., Ltd. (Japan), Balton Sp. z o.o. (Poland), Dialife SA (Switzerland), Maxer Endoscopy GmbH (Germany), Vimex Sp. z o.o. (Poland), Amsino International, Inc. (US), ROCAMED (Monaco), Well Lead Medical Co., Ltd. (China), Medispec (US), Medical Technologies of Georgia (Georgia), EndoMed Systems GmbH (Germany), Hunter Urology (England), J and M Urinary Catheters LLC (US), and Ribbel International Limited (India).

Recent Developments

• In November 2020, Baxter International Inc. (US) received 510(k) approval from the FDA for its Homechoice Claria automated peritoneal dialysis system with the Sharesource connectivity platform.
• In May 2019, Fresenius Medical Care AG & Co. KGaA (Germany) announced the establishment of a new distribution center in Knoxville, Tennessee. This expansion will support the delivery of products needed for in-center hemodialysis treatment.
• In February 2019, Fresenius Medical Care AG & Co. KGaA (Germany) acquired NxStage Medical, Inc. (US) to widen its product portfolio in the areas of renal and critical care.

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