The 2023 report on the “Urology Devices Market” presents a thorough and accurate examination of different factors pertaining to business expansion prospects, challenges, risk elements, and trends in all geographical regions. This report delivers current information on the most recent technological developments, along with SWOT and PESTLE analysis, and valuable insights on market size.
Global Urology Devices Market is valued approximately USD $ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2029. Various urological disorders such urolithiasis, urethral malignancies, bladder disorders, and kidney diseases can be treated and diagnosed with the help of urology devices.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
It includes a wide range of consumables, such sheaths, dilators, and catheters. These devices, are used to identify disorders of the bladder and urethra, include urodynamic systems, urology robotic systems, laser and lithotripsy devices, cystoscopes, and ureteroscopes. The key factors driving the market growth are rising prevalence of kidney disorders, and rising preference for minimally invasive procedures, which create the lucrative demand for the market during forecast period.
For instance, According to USRDS Coordinating Center (CC), 14.9% of the adult population in the United States that were surveyed during 2015 and 2018 had chronic kidney disease (CKD) based on a low eGFR or proteinuria (on a single examination).
Additionally, another factor driving the market growth is the rising number of hospitals and investments in laparoscopy and endoscopy facilities. For instance, in 2021, Fairfield General Hospital launched a new Greater Manchester Endoscopy Modular Facility in Bury. The facility was specially commissioned by Greater Manchester Health and Social Care Collaboration to assist the delivery of endoscopy services after the pandemic disruption. The market for urology devices like endoscopes and endovision systems for efficient treatment and care of urological conditions is anticipated to grow as a result of such investments by hospitals in the acquiring of advanced instruments, the expansion of facilities, and the establishment of new facilities. Also, increasing research & development activities would create the lucrative opportunities for the market during forecast period. However, the high cost of Urology Devices stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Urology Devices Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the dominating region across the world in terms of market share, owing to the rising number of kidney disease patients, increase in patient visits for treatment and diagnostic. Whereas, Asia Pacific is also anticipated to exhibit highest growth rate over the forecast period, owing to factors such as rising prevalence of urological conditions and growing number of hospitals and investments in the region of would create lucrative growth prospects for the Urology Devices market across Asia Pacific region.
Major market players included in this report are:
Boston Scientific Corporation (U.S.)
Coloplast A/S (Denmark)
Ethicon, Inc. (Johnson & Johnson Services, Inc.) (U.S.)
Ambu A/S (Denmark)
KARL STORZ SE & Co. KG (Germany)
Olympus Corporation (Japan)
Richard Wolf GmbH (Germany)
Siemens Healthcare GmbH (Germany)
Stryker (U.S.)
Cook Medical (U.S.)
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Recent Developments in the Market:
In 2020, Olympus Corporation introduced the Soltive SuperPulsed Laser Systemin the US as a device for urologists to use for soft tissue treatment and stone lithotripsy.
In 2018, Fresenius Medical Care announced the acquisition of renal hospitals and dialysis facilities in China. These acquisitions would raise the number of dialysis centres in region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also provides detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Endoscopes
Laser & Lithotripsy Devices
Dialysis Devices
Other Devices
By Application:
Urolithiasis
Urethral Malignancies
Bladder Disorders
Kidney Diseases
Others
By End-User:
Hospitals & Ambulatory Surgical Centers
Dialysis Centers
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Some of the Key Questions Answered in this Report:
Market dimension: What is the size of the market at the regional and country level?
Drivers, restraints, opportunities, and challenges: What are the key factors influencing the market and how are they expected to impact it?
International revenue, manufacturing value, consumption value, import and export: What is the economic value and trade dynamics of the market across different regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa)?
Key producers and their working state of affairs: Who are the leading manufacturers in the market industry and what is their current capacity, production, sales, pricing, costs, gross, and revenue?
Possibilities and threats for market carriers: What opportunities and challenges are faced by the vendors in the global market industry?
Incremental growth prospects for application/end-users and product types: Which specific applications or product types are expected to experience growth opportunities? What is the market share of each type and application?
Targeted strategies and constraints: What strategies are being implemented and what constraints are affecting the market?
Sales, marketing, and distribution channels: What are the different channels used for sales, marketing, and distribution in the global industry?
Upstream raw materials, production equipment, and manufacturing process: What are the raw materials, production equipment, and manufacturing processes involved in the market?
Key market trends: What are the significant trends impacting the growth of the market?
Economic impact and development trends: How does the market industry impact the economy, and what are the development trends within the market?
Overall, the report provides comprehensive insights into the market’s size, drivers, challenges, key players, opportunities, trends, and economic impact, offering a holistic understanding of the market industry.
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