Overview: Urology Devices Market
The Global Urology Devices Market share will grow at a 7.1% CAGR during the forecast period of 2017 to 2023. Market Research Future (MRFR) claims that the market would do better in the coming years as factors like increasing registering of kidney stones, hike in geriatric population, prostate cancer, urinary tract diseases, and others are expected to make sure that the market grows substantially. But the market can be deterred by poor reimbursement policies in various countries.
Urology is a branch of medicine that treats female urinary tract system and on the other hand, the male reproductive organs. It includes various organs like kidneys, ureters, adrenal glands, urethra, urinary bladder, and the male reproductive organs under its purview. The devices to treat the disease is getting substantial traction due to hike in technological inclusion.
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Urology Devices Market Segmentation
The in-depth analysis of the global urology devices market intends to provide better opportunities to assist in an all-expansive growth. This segmentation is founded on types, technology, applications, and end users. Such a close analysis of diverse aspects with factorial studies is expected to make an impact on various strategic moves in the coming years.
By type, the urology devices market can be explained by encompassing urinary stone treatment devices, dialysis equipment, benign prostatic hyperplasia treatment devices, endoscopy devices, urinary incontinence & pelvic organ prolapsed devices, and others. The dialysis equipment includes hemodialysis, peritoneal dialysis, and others. The Urinary stone treatment devices segment comprises lithotripsy, ureteral stents, and others. The Urinary incontinence & pelvic organ prolapsed devices segment includes vaginal meshes & slings, urethral inserts & pessaries, sacral neuromodulator, and others. The Benign prostatic hyperplasia treatment devices segment encompasses includes catheter ablation, prostatic stents, and others.
By technology, the market for the urological devices can be segmented into robotic surgery, minimally invasive surgery, and others.
By applications, the market study of urological devices includes prostate cancer, benign prostatic hyperplasia, urinary incontinence, urinary stones, and others.
Based on the end users, the market study of urological devices can be founded on ambulatory services, hospitals, and others.
Regional Analysis: Urology Devices Market
Geographically, upon considering various moves of the global urological devices market, the study segments in the Americas, Europe, and the Asia Pacific (APAC) for their growth prospects. The Middle East & Africa (MEA) can only record moderate growth. The growth would be deterred by the presence of various poor economies in the African region. The market can get better impact from the Middle East part. The Americas spans across North America and South America. North America has better market possibilities due to its robust infrastructure and superior investment capacity from countries like the US and Canada. South America can record moderate growth.
In Europe, the growth would depend much on France, Germany, the UK, and others who are expected to make high investment for research and development sector. The APAC region would bring in revenues by investing substantially in the revamping process. Massive population and increasing geriatric population can inspire market growth.
Dornier MedTech, a medical device company, has started direct sales in the U.S. for its Surgical Holmium Lasers and Fibers.
NeoTract, a manufacturer of devices in the field of urology, has received Shonin approval for UroLift® System which is useful in the treatment of benign prostatic hyperplasia (BPH).
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