The global urology devices market was valued at USD 40.0 billion in 2023 and it is anticipated to grow up to USD 52.3 billion by 2033, at a CAGR of 2.7% during the forecast period.
Urology devices are medical devices that are used for the treatment of urinary system and kidney diseases such as chronic kidney diseases (CKD), urinary incontinence and pelvic organ prolapse, kidney stone, benign prostatic hyperplasia (BPH) and end stage renal disease (ESRD).
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Market Trends and Drivers
Rising incidence and prevalence of urological conditions will augment the market growth. Over the last few decades, the incidence and prevalence of urological conditions, such as chronic kidney disease (CKD), end-stage renal disease (ESRD), urinary incontinence, kidney and ureteral stones, and bladder and prostate cancer, have increased significantly across the globe. According to the Global Forum on Incontinence, 4−8% of the global population (approximately 400 million people) were affected by urinary incontinence in 2018. Urology-related consumables such as urinary catheters are used to manage incontinence, which cannot be treated or managed with medicines or surgery. The prevalence of urinary incontinence is expected to grow due to the growing aging population and the increasing incidence of obesity, as these are the two major risk factors for urinary incontinence. This is expected to fuel the market growth.
Market Restraints and Challenges
High degree of consolidation may hamper the market growth. The top players such as Fresenius Medical Care AG & Co. KGaA (Germany), Baxter International Inc. (US), Olympus Corporation (Japan), Boston Scientific Corporation (US), Becton, Dickinson and Company (US), and Stryker Corporation (US)—in the urology devices market accounted for a combined majority market share in 2019. There is a high degree of competition among the market players. Only major companies can afford high-capital investments as well as the high cost of R&D and manufacturing. This will prevent new entrants from entering this market. New entrants in this market have to compete with existing players and set themselves apart by developing innovative product offerings. The high degree of consolidation acts as a major entry barrier for new entrants, which in turn is expected to restrict investments and thus slow down the growth potential of this market.
COVID-19 Impact
The COVID-19 pandemic has caused disruption in health systems worldwide. This has had a profound impact on urological care and urology care providers. The growing number of COVID-19 cases across the globe has inundated many healthcare facilities with critically ill patients. The COVID-19 strain commonly causes acute respiratory distress in patients and may result in acute kidney injury and, in some cases, kidney failure. According to the American Society of Nephrology, approximately 10−50% of patients with severe COVID-19 admitted to intensive care units have kidney failure that requires some form of dialysis. The growing cases of COVID-19-infected patients across the globe is anticipated to boost the demand for dialysis procedures. As a result, the demand for home dialysis machines has increased owing to the increasing preference for home dialysis treatment due to travel restrictions.
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Global Urology Devices Market Segmentation
By Product
- Endoscopes
- Lasers
- Lithotripsy
- Dialysis Devices
- Others
By Application
- Kidney disease
- Urologic Cancer
- Bladder Disorders
- Others
By End-use
- Hospitals
- Ambulatory Surgery Centers
- Dialysis Center
- Others
Major Players in the Global Urology Devices Market
The key players in the 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), Medtronic plc (Ireland), Cardinal Health (US), and Teleflex Incorporated (US), among others
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