Increasing demand for the urological devices in the kidney & bladder diseases coupled with high investments in R&D of urological devices are fueling the market growth.
Increasing demand for the urological devices in the kidney & bladder diseases coupled with high investments in R&D of urological devices are fueling the market growth.
The global urological devices market is forecast to reach USD 62.76 Billion by 2027, according to a new report by Reports and Data. The urological devices are all the equipment involved in the urological operations, diagnosis, treatment, analysis, testing, and others. Kidney diseases, bladder prolapse, urinary tract infections, erectile dysfunction, prostatitis, urologic oncology, and pediatric urology, to name a few, are some of the most common urological diseases that require the urological devices in the treatment system. Rising incidences of geriatric and pediatric urological disorders are few growing diseases that incorporate the urological devices in the procedures and treatments. Improving healthcare facilities in the developing regions are effectively helping in the market growth. An increased awareness about healthcare & wellness, changing urological disease patterns, government supports, and escalating volumes of urological healthcare services is expected to take part in the rapid growth of this market.
The North American market is forecasted to generate the highest revenue of USD 22.15 Billion in the year 2027, owing to its extensive demand for urology devices in the hospitals and ambulatory surgery centers. Asia Pacific, with its elevated growth in the healthcare industry and escalating volumes of urological patients in China, India, and Japan, is likely to achieve a significant market share. China and India are some of the fastest-growing markets, while the United States and Germany hold some of the most prominent players in the market.
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Further key findings from the report suggest
- Online retailing supply of the medical instrument and devices has been trendy in the emerging nations like China and India mainly. Online retailers can offer reduced prices compared to the medical stores and offline vendors due to the non-involvement of the distributor chains in the process. This sub-segment is expected to grow at a CAGR of 8.3% during the forecast period.
- The others sub-segment in the urological disease segment includes male infertility, erectile dysfunction, and other diseases and treatment procedure. The others sub-segment is calculated to be propelled in the forecast period with a CAGR of 5.2%.
- Ambulatory surgery centers are modern kind of healthcare facility centers, which are focused on providing immediate urological surgical care and releasing the patients right after the surgery. The ambulatory surgery centers have a more convenient alternative to the hospitals based outpatient procedures, maintaining a strong track record of quality care with positive patient outcomes. Ambulatory surgery centers had a market valuation of USD 5.13 Billion in 2018 and is expected to grow fastest at a rate of 10.1% throughout the forecast period.
- Key participants include Fresenius Medical Care AG & KGaA, Boston Scientific Corporation, Baxter International Inc., Richard Wolf, Karl Storz SE & Co. KG, Medtronic PLC, Cook Medical Incorporated, Olympus Corporation, C. R. Bard, Inc., and Siemens AG.
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For the purpose of this report, Reports and Data have segmented the global urological devices market on the basis of devices type, sales channel, urological diseases, end-users, and region:
Devices Type Outlook (Revenue, USD Billion; 2016-2027)
- Dialysis Devices
- Laser and Lithotripsy Devices
- Operating Instruments & Consumable Accessories
- Stents & Stimulators
- Others
Sales Channel Outlook (Revenue, USD Billion; 2016-2027)
- Online Retailing
- Medical Stores & Brand Outlet
Urological Diseases Outlook (Revenue, USD Billion; 2016-2027)
- Kidney & Bladder Diseases
- Cancer and BPH
- Pelvic Organ Prolapse
- Others
End-Users Outlook (Revenue, USD Billion; 2016-2027)
- Hospitals
- Clinics & Dialysis Centers
- Ambulatory Surgical Center
- Others
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Regional Outlook (Revenue, USD Billion; 2016-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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