Emerging economies such as China, India, South Korea, Brazil, and Mexico offer significant growth opportunities to major market players. This can be attributed to their low regulatory barriers, improvements in healthcare infrastructure, growing patient population, and rising healthcare expenditure. The regulatory policies in the Asia Pacific are more adaptive and business-friendly than those in developed countries. This, along with the increasing competition in mature markets, has drawn key players in the urology devices market to focus on emerging countries.
The global urology devices market is projected to reach USD 46.4 billion by 2026 from USD 38.0 billion in 2021, at a CAGR of 4.1%.
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The urology devices market is segmented into kidney diseases, urological cancer and BPH, pelvic organ prolapse, and other applications based on application. In 2020, the urological cancer and BPH segment accounted for the highest growth rate. This can be attributed to the rising incidence of urological cancers coupled with the growing number of cancer-related surgeries.
Based on product, the market is segmented into instruments and consumables & accessories. The instruments segment accounted for the largest share of the market in 2020. This segment includes dialysis devices, endoscopes, laser and lithotripsy devices, robotic systems, endovision and imaging systems, insufflators, endoscopy fluid management systems, and urodynamic systems.
Based on end users, the market is segmented into hospitals, ASCs, and clinics; dialysis centers; and home care settings. In 2020, the hospitals, ASCs, and clinics segment accounted for the largest share of the market. The improving healthcare infrastructure in developing countries such as India, the rising number of target procedures, and the rising number of surgeries are the major factors driving this segments growth.
The Urology Devices market is segmented into five regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the urology devices market.
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Top Key Players:-
The major players operating in this urology devices market are Fresenius Medical Care AG & Co. KGaA (Germany), Baxter International Inc. (US), Boston Scientific Corporation (US), Becton, Dickinson and Company (US), Olympus Corporation (Japan), B. Braun Melsungen AG (Germany), Stryker Corporation (US), KARL STORZ (Germany), Cook Medical (US), Intuitive Surgical (US), Medtronic plc (Ireland), Cardinal Health (US), Teleflex Incorporated (US), Richard Wolf GmbH (Germany), CompactCath (US), Dornier MedTech (Germany), Nikkiso Co., Ltd. (Japan), Balton Sp. z o.o. (Poland), Dialife SA (Switzerland), Maxer Endoscopy GmbH (Germany), Vimex Sp. z o.o. (Poland), Amsino International, Inc. (US), ROCAMED (Monaco), Well Lead Medical Co., Ltd. (China), Medispec (US), Medical Technologies of Georgia (Georgia), EndoMed Systems GmbH (Germany), Hunter Urology (England), J and M Urinary Catheters LLC (US), and Ribbel International Limited (India).