Global urology devices market to grow at a CAGR of 5.08 % during the period 2018-2022.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one of the major drivers for this market is the increasing prevalence of urological diseases. As of 2015, 100 in every 1,000 individuals worldwide were affected by CKD. The CKD may get worse over time and lead to kidney failure or ESRD. Globally, it is estimated that more than two million ESRD patients receive renal replacement therapy (RRT) regularly in the form of dialysis. According to the Centers for Disease Control and Prevention (CDC) report in 2017, approximately 30 million individuals, which accounted for 15% of the US adults, were affected by CKD. In 2014, around 118,000 individuals in the US started taking treatment for ESRD and 662,000 were living with a kidney transplant. Men are 64% more likely to develop ESRD when compared with women.
The latest trend gaining momentum in the market is emergence of innovative technologies. Continuous improvement in technology led to the development of urology devices with superior quality and safety. For instance, in October 2015, Boston Scientific launched LithoVue, first single-use digital flexible ureteroscope developed to access the upper urinary tract for diagnosing and treating kidney stones, and other kidney, ureter, and bladder conditions. NeoTract (acquired by Teleflex) introduced UroLift system, a novel minimally invasive treatment for BPH.