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Report
Urology Devices Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 118 Pages I Mordor Intelligence
The global urology devices market is growing at a rate of 6.35% during the forecast period (2022-2027).
The global spread of COVID-19 has flooded many healthcare institutions with severely ill patients and medical equipment such as dialysis machines, endoscopes, and lithotripsy machines. COVID-19 causes acute respiratory distress and acute renal damage in individuals. Multi-organ failure and renal failure can occur when the patient's body cannot remove excess waste and fluids from the body. As a result of the use of dialysis equipment in the treatment of patients, the urology device market has a beneficial impact on COVID-19. However, urology practices have decreased during the pandemic. Thus, COVID-19 has a mixed impact on the market studied.
The key factors propelling the market growth include a high incidence of urologic conditions, a rising senior population, and technological advancements.
According to the American Urological Association Foundation (AUAF), benign prostatic hyperplasia (BPH), urinary incontinence (UI), urinary tract infections (UTIs), and kidney and ureteral stones are among the most common urological diseases. The United States According to the National Institute of Medicine July 2020, urinary tract infection affects approximately 150 million people globally. In addition, about 11% of women visit one physician yearly for urinary tract infection treatment. Urinary tract infections (UTIs) are among the most common microbial diseases affecting people of all ages. Globally, UTIs affect around 150 million people every year. Diabetic patients have a higher risk of developing UTIs. With a global increase in the diabetic population, complications like dysuria and organ damage are associated with UTIs, which are also rising.
Additionally, according to the article published in the International Journal of Molecular medicine in August 2020, Kidney stone disease, also known as nephrolithiasis or urolithiasis, is one of medicine's oldest diseases. It is estimated that 11% of people will develop kidney stones at some point in their lives, and the prevalence and incidence of kidney stones are increasing worldwide. However, the overall prevalence of urolithiasis was 11.2 %, with 48.8 % having a first-degree relative with the disease. Males were 1.8 times more likely than females to have urolithiasis.
Hence, with the high incidence rates and health complications associated with urological diseases, there is an increasing demand for healthcare interventions to manage them, which, in turn, is propelling the market of urology devices market.
Urology Devices Market Trends
Kidney Disease Segment Expected to Hold the Highest Market Share
The various kidney diseases include renal cyst, cystic kidney diseases, chronic kidney disease, hemolytic-uremic syndrome, and lupus nephrite, among others. Most kidney diseases lead to kidney failure, which requires early diagnosis for prompt treatment.
According to the article published in the National Institutes of Health in September 2021 by Onecia Benjamin and Sarah L. Lappin., End-stage renal disease (ESRD) affects more than 500,000 persons in the United States annually. The prevalence of CKD rises with age, with persons aged 60 and up experiencing the fastest development. The frequency is 6.0 % among those aged 18 to 44 and 38.1% among those aged 65 and up.
National Institute on Diabetes and Digestive and Kidney Diseases (NIDDK) in 2020, ESKD, also known as an end-stage renal disease (ESRD), affects almost 786,000 people in the United States with 71% requiring dialysis and 29% requiring a kidney transplant. ESKD affects three men and every two women who develop it. However, most of the population remains undiagnosed in the early stages, eventually leading to death worldwide.
Therefore, an increase in awareness, along with support from the government through reimbursement and innovation in products to develop a low-cost and effective treatment, are some elements expected to drive the market over the forecast period.
North America is Dominating the Market and is Expected to do the Same During the Forecast Period
North America currently dominates the market for urology devices, and it is expected to continue its stronghold for a few more years. Benign prostatic hyperplasia (BPH) is among the most untapped segments in the urology market. Several United States-based companies are working on upgrading their devices in this segment, either by collaboration or acquisition.
The region is experiencing a drastic increase in innovations related to diagnostic methodologies used for UTIs. According to the article published in Infectious Diseases Society of America in November 2020, by Pranita D. Tamma, during a routine checkup for a UTI, a woman was observed to be infected by E. coli that showed resistance to the last-resort antibiotic, Colistin. The discovery of Colistin-resistant bacteria was considered a major issue. In addition to that, the CDC, in collaboration with other organizations, developed guidelines for preventing catheter-associated UTIs and other healthcare-associated infections in the United States. UTIs are a substantial societal and personal burden, accounting for many medical visits in the United States each year. This condition drives the market by increasing sales of urology devices.
Thus, over the forecast period, technological advancements, a high percentage of urology cases in hospitals, and increasing funding are expected to be the major drivers for the growth of the urology devices market.
Urology Devices Market Competitor Analysis
The urology devices market is highly competitive and consists of several major players. With increasing technological advancements and product innovations, mid-size to smaller companies are expected to increase their market presence by introducing new devices at lesser prices. These companies, like Baxter, Boston Scientific, C. R. Bard, Medtronic, and Siemens, hold a substantial share in the market.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 High Incidence of Urologic Conditions
4.2.2 Rising Geriatric Population
4.2.3 Technological Advancements
4.3 Market Restraints
4.3.1 Stringent Regulatory Policies for Validation of Medical Devices
4.3.2 High Cost of Urology Devices
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Instruments
5.1.1.1 Dialysis Devices
5.1.1.2 Endoscopes and Endovision Systems
5.1.1.3 Lasers and Lithotripsy Devices
5.1.1.4 Other Instruments
5.1.2 By Consumables and Accessories
5.1.2.1 Dialysis Consumables
5.1.2.2 Guidewires and Catheters
5.1.2.3 Stents
5.1.2.4 Biopsy Devices
5.1.2.5 Other Consumables and Accessories
5.2 By Disease
5.2.1 Kidney Diseases
5.2.2 Urological Cancer and BPH
5.2.3 Pelvic Organ Prolapse
5.2.4 Other Diseases
5.3 By End User
5.3.1 Hospitals and Clinics
5.3.2 Dialysis Centers
5.3.3 Other End Users
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle-East
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle-East
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Baxter International Inc.
6.1.2 Boston Scientific Corporation
6.1.3 Becton, Dickinson and Company
6.1.4 Cook Medical Incorporated
6.1.5 Stryker Corporation
6.1.6 Fresenius Medical Care AG & Co. KGaA
6.1.7 Intuitive Surgical Inc.
6.1.8 Karl Storz SE & Co. KG
6.1.9 Medtronic PLC
6.1.10 Olympus Corporation
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