The global urology devices market size was exhibited at USD 41.66 billion in 2022 and is projected to surpass around USD 63.78 billion by 2030, poised to grow at a projected CAGR of 5.47% during the forecast period 2022 to 2030.
Even though the market had surged during the outbreak of the COVID-19 pandemic the increasing cases of various disorders like bladder disorders, urethral malignancies and the diseases associated with kidneys have led to the growth of the market in recent years and it is expected to grow well during the forecast period. The presence of the urodynamic system in the devices is expected to play a good role in the growth of the market during the forecast period. These devices are extremely beneficial for detecting the disorders associated with the urethra and bladder. the sales of dilators, catheters, and sheaths have increased in recent years. The use of robotic systems in urology and the devices that make use of lasers have also increased in recent years in order to diagnose various diseases. I see infection caused due to the use of various devices is reduced due to the introduction of cystoscopes that can be used only once will lead to the growth of the market during the forecast period. Increasing hit awareness which are associated with the use of such devices will also increase the sales of these devices and the production of these devices by various manufacturers across the globe. The sales of these cystoscopes have increased in recent years as various authorities in different nations have given clearance to such devices.
The introduction and the development of cystoscopes that can be used for single use will lead to the growth of the demand of various urology devices in the coming years as they help in reducing the risk of infection which is associated with the use of such devices. The government of various nations has also provided clearance to these single-use products and this will also help in the growth of the market during the forecast period. Reduced need of repairing or reprocessing these devices will also drive market growth in the coming years. The manufacturing of various disposable devices has increased and stimulated market growth. The availability of these products and greater manufacturing will also help in the growth of the market.
The equipment used in the urology system has seen an increase in consumption in dialysis centers and in hospitals due to an increase in the number of patients suffering with such diseases. After the outbreak of the COVID-19 pandemic, the surgeries and treatments related to the kidneys or the urethra had reduced but post-pandemic these surgeries, as well as the treatments, resumed and the sales of the products increased gradually. An increase in the number of disorders associated with the kidney and different types of diseases of the kidney that are chronic in nature will also need a greater number of devices in the coming years. As the rate of kidney failure have also increased the sales of dialysis devices will increase across the world. Increase in the patients suffering with various diseases that make use of these devices has increased and the growing geriatric population will also create a greater demand for these devices in the coming years.
Report Scope of the Urology Devices Market
|Market Size in 2022||USD 41.66 Billion|
|Market Size by 2030||USD 63.78 Billion|
|Growth Rate from 2022 to 2030||CAGR of 5.47%|
|Forecast Period||2022 to 2030|
Key Market Drivers
Key Market Challenges
Key Market Opportunities
On the basis of the product of the accessories, the segment has held a larger market share of around 60.50% in 2021. As the demand for cystoscopes of a disposable nature has increased and the cases of urolithiasis have also grown the need for the devices is expected to grow.
Apart from the growth of the accessories segment dialysis segment will also show significant growth in the coming years and it will grow with the highest compound annual growth rate from the year 2022 till the year 2030. As the number of patients visiting the clinics have increased the need for the dilators and catheters which are used in the treatment of various diseases have also grown significantly.
On the application of urology devices, the kidney diseases segment has dominated the market in the past with a large amount of revenue generated. As the need for dialysis have increased drastically and the need for invasive surgeries have also grown across the world the use of urology devices will grow. The use of urology devices in bladder disorders have also shown significant growth this trend will continue in the coming years from year 2022 till the year 2030 due to which the bladder disorder segment will also show a significant growth period as the geriatric population has grown to add the cases of infections associated with the bladder and the urinary tract have also increased the need for these devices will grow. Problems related to bladder control will also increase the sales of these devices. The use of these devices is maximum in ambulatory settings and in hospitals.
End User Insights
The ambulatory centers and the hospitals' segment will have a larger market share in the coming years and it will expand at the highest compound annual growth rate between the year 2022 till the year 2030. As the number of patients visiting these hospitals or surgical centers has grown due to an increase in the number of disorders the market is expected to grow well. Increased use of urology endoscopes and cystoscopes will drive the market growth in the coming years period this segment is expected to show significant growth due to a constant need for detection and the treatment of diseases like urolithiasis. A good amount of revenue will be generated through the dialysis centers and this segment will also show significant growth. As the lead for dialysis have grown drastically market players across the world are creating more awareness to drive patients to these centers which will lead to the growth of the market.
On the basis of geography, the North American region is expected to dominate the market as this market has dominated the market in the past with a share of about 13 billion U.S. dollars, which was due to the high number of cases of kidney diseases. The growing need for the treatment of the disease is associated with the kidney or the detection of malignancy will also lead to the growth of the market during the forecast period. The use of these devices for detecting diseases and for treatment have grown drastically in the North American region. Growing awareness about the availability of such devices and their efficiency of these devices will drive market growth. Increased use of one-time use cystoscopes will also lead to the growth of the market. The introduction of technically advanced devices used in the diseases of the urethra or kidney and other associated parts will lead to the growth of the market during the forecast.
Key Market Developments
Key Market Players
Segments Covered in the Report
(Note*: We offer reports based on sub-segments as well. Kindly, let us know if you are interested)
By End User
No cookie-cutter, only authentic analysis – take the 1st step to become an Precedence Research client