Industry Outlook

Urology devices market projected to grow at a CAGR of 6.7% during the forecast period from 2023 to 2030. Urology diseases are one of the most varied and common type of diseases found in all age groups. According to the World Health Organization (WHO), urinary tract infection (UTI) is one of the most prevalent diseases affecting around 150 million people every year. In women lifetime risk of developing urinary tract infection is 60% while in men the risk is mere 13%. Overall diagnosis and treatment rate of urological diseases is gradually increasing with increasing awareness in developing & under developed countries. The extended reach of companies and penetration of government initiative & supportive policies has assisted the significant growth of overall urology devices market in developing & under developed countries from Asia Pacific, South America, & Africa.

"Increasing prevalence and awareness related to urology infections in developed and developing countries assisting the demand for urology diagnostics & treatment devices market"

In year 2021, instrument identified as the largest segment in urology devices market due to high prices compared to consumables and accessories, and increasing prevalence and awareness related to urology infections. Endoscopes and lasers & lithotripsy devices dominated the instruments segment, as these devices have wide range of applications in diagnosis as well as treatment of urological diseases. However, antibiotic resistance is also one of the major complication observed in bacterial infections affecting urinary system. In these cases, drugs and devices used in combination to deliver desired therapeutic effect.

"Rising awareness related to early disease diagnosis and improving adoption of novel diagnostic & therapeutic technologies against urology diseases in Asia Pacific would aid the market growth"

In 2021, North America identified as the largest urology devices market due to increasing prevalence of prostate & kidney cancer, urinary incontinence, & pediatric urologic diseases, developed diagnostic infrastructure, and incessant development in the field of urology devices. According to UCLA Health, urologic diseases such as urinary tract infections, kidney stones, and prostate cancer have a major economic burden on Americans, with huge health care costs of around $40 billion annually. During the forecast period from 2023 to 2030, Asia Pacific expected to be the fastest growing market for urology devices due to key factors such as rising prevalence & awareness related to the urological diseases, developing healthcare infrastructure & economic development, and supportive healthcare policies structured by government agencies. The ongoing development in the diagnostic infrastructure specifically in developing countries has increased the overall rate of prevalence & treatment and expected to grow in the near future.

The report covers information related to the attractive investment proposition analyzed based on in-depth geographical analysis of economic, social, political, and demographics. Major players present in this report comprise Fresenius Medical Care, Baxter, KARL STORZ, Boston Scientific, Cook Medical, Olympus, Richard Wolf, and Medtronic among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Urology Devices market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Urology Devices market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Urology Devices market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Urology Devices market?
• Which is the largest regional market for Urology Devices market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Urology Devices market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Urology Devices market worldwide?