Urology Devices Market Size to hit US$ ~51.50 Billion in 2030 | Future Trends, Size, Opportunities, Share, Outlook and Challenges, Growth Plus Reports

Pune, Aug. 01, 2022 (GLOBE NEWSWIRE) — The global urology devices market is expected to clock US$ ~51.50 Billion in 2030 driven by high prevalence of  prostate cancer, bladder cancer, high blood pressure, kidney diseases, diabetes, and chronic kidney diseases. Additionally, technological advancements, increasing geriatric population, favorable reimbursement policies, and adoption of minimally invasive urological surgeries are fueling the urology devices market. However expensive surgical procedures, high cost of devices, and long time for research & development are hampering the market growth, states Growth Plus Reports

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Strategic Developments

• In June 2022, Quanta Dialysis Technologies Ltd raised $245 million in D Series round, This is the biggest funding round for any dialysis device company in history with the vision of making dialysis care more accessible and flexible
• In march 2021 Baxter received FDA clearance for an ‘artificial kidney dialysis machine
• In May 2021, Olympus Acquired Medi-Tate to expand benign prostatic hyperplasia portfolio to drive global urology business growth
• In September 2021, GE acquired BK Medical at US $1.45 billion. BK Medical is an innovator in invasive and robotic surgeries and to visualize deep tissue during surgical and diagnosis procedures.
• In April 2020, Tablo® Hemodialysis System Received FDA Clearance for home dialysis
• In December 2020, Medtronic launched its first and only neonatal and pediartic  acute dialysis machine in U.S. market. It will provide continuous renal replacement therapy to pediartic and neonatal patients weighing between 2.5 and 10 kilograms.

Market Driver

Bladder cancer Common urological disease formed in cells of the bladder. Smoking is the single biggest risk factor for bladder cancer. According to the American Cancer Society, in 2022, nearly 81,180 new cases were added of bladder cancer in that 61,700 are men and 19,480 are women. Almost 17,100 deaths occurred from bladder cancer in 12,120 men and 4,980 women. Bladder cancer is less common in females but it is the most common cancer in men and occurs mainly in individuals aged over 55.

The global urology devices market has been analyzed from four different perspectives – Type, Technology, Application, and End User.

Excerpts from ‘By Product Type’

The global urology devices market has been segmented majorly into

• Endoscopy Devices
• Urinary Incontinence
• Pelvic Organ Prolapse
• Urinary Stone Treatment Devices
• Benign Prostatic Hyperplasia Treatment Devices
• Dialysis Equipment

The global urology devices market has been segmented into endoscopy devices, benign prostatic hyperplasia treatment devices, dialysis equipment, urinary stone treatment devices, urinary incontinence, and pelvic organ prolapse devices. Dialysis equipment is having the highest market share in 2021 owing to rise in the number of kidney failure cases, prevalence of urological disorders, increasing chronic kidney diseases, and rising polycystic kidney cases are contributing to the market growth. Moreover, awareness about dialysis, increasing number of dialysis centers, easily accessible reimbursement, technological advancement, availability of portable dialysis devices, government policies, easily accessible reimbursement, and regulations on dialysis procedures are fueling the market growth. In April 2020, the Tablo® hemodialysis system received U.S. Food and Drug Administration clearance for home dialysis system.

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Excerpts From ‘By Technology’
The global urology devices market has been segmented into:

• Robotic Surgery
• Minimally Invasive Surgery

Minimally invasive surgery is leading the global market owing to less invasion, high accuracy, and less time to recover, and overall cost saving are among the driving factors of this segment. Additionally, lower postoperative complications, a shorter hospital stay, and smaller incisions all contribute to the demand for minimally invasive surgery.

Excerpts from ‘By Application’

The global urology devices market has been segmented into:

• Ureteroscopy
• Lithotripsy
• Orchiopexy
• Vasectomy
• Cystoscopy
• Prostate Procedures
• Others

The prostate procedures hold the highest market growth owing to increasing awareness about prostate cancer, genetic predisposition associated with high prevalence of prostate cancer, and increasing geriatric population. According to the American Cancer Society in 2022, about 268,490 new cases added of prostate cancer and 34,500 deaths are reported from prostate cancer.

Excerpts from ‘By Region Segmentation’

Based on region, the global urology devices market has been segmented into:

• North America
• Europe
• Asia Pacific
• Rest of the World (RoW)

Europe is the leading urology device market attributed to swift introduction of novel technologies in the European market, increasing number of regulatory approved urology devices, a rising geriatric population, and high prevalence of chronic kidney diseases are helping to grow the regional urology devices market. Also rising prevalence of urological cancer, increasing awareness about high uptake of robotic procedures, and convenient availability of advanced and precise urological devices are fueling the market growth. In February 2022, Medtronic performed the first clinical procedure for prostatectomy with Hugo robotic Assisted surgery system in Europe.

Excerpts from ‘Competitive Landscape’

The prominent players operating in the global urology devices are:

• HealthTronics, Inc
• Intuitive Surgical, Inc
• Johnson & Johnson
• Karl Storz SE & Co. KG
• Medtronic
• Siemens Healthineers AG
• Baxter International Inc
• Becton
• Dickinson and Company
• Boston Scientific Corporation
• Cardinal Health, Inc
• Coloplast A/S
• Cook Medical
• Fresenius Medical Care AG & Co. KGaA
• Olympus Corporation
• Richard Wolf GmbH
• Siemens Healthineers AG
• Stryker Corporation

Report Scope & Segmentation:

Urology Devices Market Segmentation:

Product Type Outlook

• Endoscopy Devices
• Benign Prostatic Hyperplasia Treatment Devices
• Dialysis Equipment
• Urinary Stone Treatment Devices
• Urinary Incontinence & Pelvic Organ Prolapse

By Technology Outlook

• Robotic Surgery
• Minimally Invasive Surgery

By Application Outlook

• Ureteroscopy
• Lithotripsy
• Orchiopexy
• Vasectomy
• Cystoscopy
• Prostate Procedures
• Others

By End Users Outlook

• Research Centers
• Hospitals

VALUE PROPOSITIONS RELATED TO THE REPORT:

• Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
• Comprehensive quantitative and qualitative insights at segment and sub-segment level
• Covid 19 impact trends and perspective
• Granular insights at global/regional/country level
• Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
• Blanket coverage on competitive landscape
• Winning imperatives
• Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market

CUSTOMIZATION OPTIONS:

• Distributor Landscape Assessment
• Pricing Intelligence
• Customer Base Assessment
• Investment & Initiatives Analysis
• ‘Business Profile’ of Key Players

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