Urology Devices Market is expected to reach US$ 49.34 Billion in 2028, growing at a CAGR of 4.2% during 2022- 2028, reports Stratview Research.
Raipur, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Urology Devices Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Urology Devices Market is driven by a host of factors, some of which are noted below:
Increasing incidence of chronic kidney diseases
Expanding geriatric populace coupled with a rising preference for minimally invasive surgical procedures
The growing emphasis on the development of advanced medical devices
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Urology Devices Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
By Product Type
By Application Type
By End-user Type
Urology Devices Market Insights
Market Trends by Product Type
Based on products, the urology devices market is segmented into instruments and consumables & accessories. In 2021, the instruments segment accounted for the largest share of the urology devices market. Technological advancements coupled with the launch of advanced urology instruments is one of the major factors driving the growth of this segment.
Market Trends by Application Type-
Based on application type, the urology devices market is segmented into kidney diseases, urological cancer and BPH. Kidney diseases segment accounted for the largest share in 2021. The growing incidence of health complications associated with kidney is propelling the market growth. The rising geriatric population is another key factor supporting market growth.
Market Trends by End-User Type
By end-user, the urology devices market has been bifurcated into hospitals and clinics, dialysis centers, and homecare. The hospitals & clinics segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to the established presence of healthcare infrastructure and skilled staff.
Which region offers the best opportunity and growth?
By region, the North American market accounted for the largest market share in 2021 and is projected to grow at a robust CAGR during the review period. This can be attributed to increasing investment in R&D activities to develop advanced medical devices coupled with expanding geriatric populace and the presence of key market players such as Boston Scientific Corporation (US) and Baxter International Inc. (US). The market growth in Asia-Pacific is expected to be driven by an increasing number of people suffering from urological disorders.
COVID-19 Impact on the Urology Devices Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
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Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
Fresenius Medical Care AG & Co. KGaA (Germany)
Siemens AG (Germany)
KARL STORZ SE & Co. KG (Germany)
Boston Scientific Corporation (US)
Baxter International Inc. (US)
C. R. Bard, Inc. (US)
Olympus Corporation (Japan)
Richard Wolf GmbH (Germany)
Intuitive Surgical, Inc. (US)
Dornier MedTech (Germany)
Cook Medical (US)
Stryker Corporation (US)
Medtronic plc (Ireland).
What deliverables will you get in this report?
In-depth analysis of the Urology Devices Market
Detailed market segmentation.
Historical, present, and future market size analysis.
Industry trends, technologies, and advancements.
Growth and operation strategies adopted by key players.
Potential segments/regions offering promising growth.
Geographical presence of the key players.
Related reports which might be useful:
Urology Surgical Instruments Market
Polypropylene Nonwoven Fabrics Market
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