- The global urology devices market is at an important juncture on its journey to acquiring market maturity. Presence of a well-performing healthcare industry has created humongous demand within this market
- The rising incidence of chronic diseases related to the bladder is at the forefront of market growth. The urology devices market is expected to attract fresh investments from several new healthcare investors
ALBANY, New York, March 24, 2020 /PRNewswire/ -- The demand within the global urology devices market is expected to rise at a sound pace in the forthcoming years. Diseases related to the urinary tract of humans have become common, mainly due to the contempt shown by the masses in consuming adequate water. The human body requires adequate amount of water in order to stay immune to various diseases and disorders. Medical research state that the use of urology devices has increased as people have failed to follow guidelines related to health and hygiene by the World Health Organization (WHO). Henceforth, it is legit to expect that the global urology devices market would become an area of lucrative opportunities in the years to follow.
The total worth of the global urology devices market is projected to reach US$ 58.3 Bn by the end of the forecast period ranging from 2018 to 2026. This market is tabulated to grow at a CAGR of 7.10% over the mentioned forecast period, and it held a value of US$ 31.4 Bn in 2017. Advancements in healthcare analysis and testing are at the forefront of market growth and maturity.
Gather core insights about the growth of the Urology Devices Market (Product - Dialysis, Endoscopes, Endovision Systems and Peripheral Instruments, Laser and Lithotripsy, Robotic Systems, Urodynamic Systems, Urology Catheters, Biopsy Devices, Stents, Urology Guidewires, Drainage Bags; End use - Hospitals, Dialysis Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026 at
Advancements in Healthcare Diagnosis
- The healthcare industry is focusing on earning investments from angel investors. The industry is deftly working to improve the functionalities of diagnostic departments.
- The growing incidence of diseases related to the bladder and urinary tract has necessitated swift testing and analysis of patients.
- Several research labs that use urology devices have emerged on the healthcare landscape, creating new opportunities for market growth.
Global Urology Devices Market: Growth Drivers
The growth of the global urology devices market largely relies on advancements in testing procedures and investments in diagnosis. The following factors have played a defining role in market growth and maturity:
- Rising incidence of liver cancer has compelled oncology departments to induct fresh technologies for endoscopy, dialysis, and endovision.
- Peripheral instruments used to understand the functioning of the bladder, kidney, and urinary tract has increased. The older population is more prone to suffer from urinary infections.
- Hospitals are making prolific efforts to improve their functional and operational dynamics, and have installed new testing devices to this end.
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Economically Backward Countries to Witness Sluggish Growth
- The growth graph of the urology devices market in developing regions is not keeping up with the sharp growth of the global market.
- Unavailability of adequate economic resources to invest in premium healthcare technologies such as urology devices has hampered market growth.
- Contempt of the masses to consult medical professionals for urological disorders has restrained market growth.
Global Urology Devices Market: Key Market Players
- Stryker, Baxter International Inc.
- Dornier MedTech
- B. Braun Melsungen AG
The global urology devices market can be segmented by:
- Endovision Systems and Peripheral Instruments
- Laser and Lithotripsy
- Robotic Systems
- Urodynamic Systems
- Urology Catheters
- Biopsy Devices
- Urology Guidewires
- Drainage Bags
- Dialysis Centers
Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:
Foley Catheters Market - The urine is drained into a collection bag by using a catheter tube. Foley catheters can be utilized for prolonged periods; for weeks or even a month. Foley catheters are available in various sizes and balloon capacities. Surge in the geriatric patient pool suffering from urinary diseases is expected to boost the demand for Foley catheters in the next few years. The global Foley catheters market was valued at US$ 1.02 Bn in 2018. It is projected to expand at a CAGR of 5.8% from 2019 to 2027.
Urology Guidewires Market - Factors such as growing prevalence of urological disorders, increasing number of surgeries, government focus on providing better healthcare facilities, and rising per capita expenditure are factors which will drive the global urology guidewires market. According to American Cancer Society, about 79,030 new cases of bladder cancer has been estimated in the U.S., in 2017. Technological advancement and new product launch are other factors which will accelerate the urology guidewires market growth globally.
Urinary Incontinence Treatment Devices Market - The global urinary incontinence treatment devices market is driven by high prevalence and rapidly increasing incidence of urinary incontinence across the globe. The global market was valued at US$ 2.21 Bn in 2018 and is projected to expand at a CAGR of 7.5% from 2019 to 2027 to reach US$ 4.20 Bn by 2027. High growth of the market is attributed to increase in adoption, easy availability of electrical vaginal stimulation devices, and rise in demand for minimally invasive or non-surgical products across the globe.
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