Urology Devices Market in terms of revenue was estimated to be worth $34.1 billion in 2023 and is poised to reach $48.6 billion by 2028, growing at a CAGR of 7.3% from 2023 to 2028.
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Browse in-depth TOC on "Urology Devices Market"
159 - Tables
44 - Figures
274 – Pages
North America is the largest regional market for urology devices market.
The market for urology devices has been divided into five key geographical regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America held the predominant portion of the urology devices market. This can be attributed to the region's advanced healthcare facilities and substantial healthcare investments, which are pivotal in fueling the requirement for urology devices. Moreover, the projected rise in urological procedures is anticipated to contribute to the expansion of the market. As the demand for urological procedures rises, so does the need for precise urological devices to ensure successful and safe procedures.
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Urology Devices Market Dynamics:
Drivers:
Rising incidence of urological diseases
Growing preference for minimally invasive procedures
Rising focus on R&D and product launches
Growing number of hospitals and surgical centers
Restraints:
High degree of consolidation among key players
Opportunities:
Growing Potential growth opportunities in emerging economies
Technological advancements
Challenge:
Increasing number of product recalls by key players
Shortage of skilled urologists
Key Market Players of Urology Devices Industry:
The major players operating in urology devices market are Fresenius Medical Care AG & Co. KGaA (Germany), Baxter International, Inc. (US), Boston Scientific Corporation (US), Becton, Dickinson and Company (US), B. Braun Melsungen AG (Germany), Cardinal Health (US), Olympus Corporation (Japan), Intuitive Surgical (US), Coloplast A/S (Denmark), Stryker Corporation (US), Teleflex Incorporated (US), Convatec Group PLC (UK), Medtronic PLC (Ireland), Karl Storz (Germany), Cook Medical (US), Richard Wolf GmbH (Germany), CompactCath (US), Dornier MedTech (Germany), Nikkiso Co., Ltd. (Japan), Dialife SA (Switzerland), Erbe Vision (Germany), Well Lead Medical Co., Ltd. (China), ROCAMED (Germany), EndoMed Systems GmbH (Germany), Amniso International, Inc. (US), Medispec (US), Medical Technologies of Georgia (US), Vimex Sp. z o.o. (Poland), Balton Sp. z o.o. (Poland), Hunter Urology (UK), Ribbel International Ltd. (India).
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Urology Devices Market Recent Developments:
In August 2023, Fresenius Medical Care AG & Co. KGaA (Germany), announced FDA Clearance for the product Versi HD with GuideMe Software.
In December 2022, Boston Scientific Corporation (US) and Acotec Scientific Holdings Limited (China) announced today that Boston Scientific will make a partial offer to acquire a majority stake, up to a maximum of 65%, of shares of Acotec, a Chinese medical technology company that offers solutions designed for a variety of interventional procedures.
In May 2022, B. Braun SE (Germany) entered into a distribution agreement, and B. Braun surgery division Aesculap has strengthened its long-term partnership with True Digital Surgery, a Californian company that is an expert in robotically controlled 3D digital visualization.
In April 2022, Baxter International, Inc. (US) Announces U.S. FDA Clearance of ST Set used for renal replacement therapy (CRRT)
In April 2021, Becton, Dickinson and Company (US) announced an investment of USD 65 million for the construction of a state-of-the-art medical facility in Tucson, Arizona (US), which will serve as a final stage manufacturing and sterilization center to improve overall efficiency, customer service, and supply chain in the US.
Urology Devices Market - Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall urology devices market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities and challenges.
The report provides insights on the following pointers:
Analysis of key drivers (Rising incidence of urological diseases, growing preference for minimally invasive procedures, rising focus on R&D and product launches, growing number of hospitals and surgical centers), restraints (high degree of consolidation among key players), opportunities (potential growth opportunities in emerging economies, technological advancements) and challenges (increasing number of product recalls by key players, shortage of skilled urologists) influencing the growth of the urology devices market.
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the urology devices market.
Market Development: Comprehensive information about lucrative markets – the report analyses the urology devices market across varied regions.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the urology devices market
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Fresenius Medical Care AG & Co. KGaA (Germany), Baxter International, Inc. (US), Boston Scientific Corporation (US), Becton, Dickinson and Company (US), B. Braun Melsungen AG (Germany), among others in the urology devices market strategies.
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