"Designing Growth Strategies is in our DNA"
Urology equipment is used in medical procedures which include paediatric urology, renal transplantation, urolithiasis, impotence and all other urinary tract infections. Amongst urology diseases, kidney stone, erectile dysfunction, benign prostatic hyperplasia and urinary tract infection are most commonly observed globally. Urology equipment can be classified on broader levels as diagnostic equipment, surgical equipment, devices and others. The rising prevalence of the urinary disease has increased demand for urinary equipments. According to the Centers for Disease Control and Prevention, in 2016, the total number of adults in the U.S. diagnosed with kidney stones were approximately 4.9 million. In addition to this, the launch of new urinary disease diagnostic or surgical products for use in hospital, clinics, and others is expected to surge the global urine equipment market. For example, in 2018, Boston Scientific Corporation, one of the prominent medical devices manufacturers announced the worldwide launch of LithoVue Empower, a kidney stone retrieval device which is designed to be used along with LithoVue, a digital ureteroscopes which is compatible with the stone retrieval baskets. This will further boost the global kidney stone retrieval devices market.
Rising prevalence of urology diseases such as urinary tract infection, prostate cancer, and kidney stone are significant factors for the growth of the global urology equipment market. Also, the growing prevalence of diabetes is expected to lead to increasing prevalence of urology diseases during the forecast period. According to the Global Diabetes Community, diabetes is responsible for causing urinary incontinence amongst the diabetic population, which is expected to fuel the global urology equipment market.
To gain extensive insights into the market, Request for Customization
However, lack of trained and skilled resources in emerging countries, high installation cost, and lack of healthcare resources and infrastructure in emerging regions are restraining factors for the growth of global urology equipment market. According to the Centers for Disease Control and Prevention, among all the hospital-acquired UTIs in the U.S., approximately 75% are associated with a urinary catheter, which is likely to hamper the global urology equipment market.
Some of the major companies that are present in the global urology equipment market are Medtronic, GENERAL ELECTRIC COMPANY, Koninklijke Philips N.V., Siemens Healthcare Private Limited, Teleflex Incorporated, CooperSurgical, Inc., Intuitive Surgical, biolitec AG, Baxter, Fresenius Medical Care AG & Co. KGaA, Boston Scientific Corporation, Cook, KARL STORZ SE & Co. KG, Richard Wolf GmbH, Olympus Corporation, Stryker, and others.
· Imaging Equipment
· Surgical Equipment
By Disease Indication
· Urinary Tract Infections
· Kidney Stones
· Urinary Incontinence
· Prostate Cancer
· Erectile Dysfunction
By Age Group
By End User
· Ambulatory Surgery Centres
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Among the equipment, the devices segment is anticipated to have a larger portion of the market in the forecast duration. The primary reasons responsible for this growth are large volume sales and usage of urinary devices such as catheters, urine meters, and others. Also, the launch of new products with advanced technology and portability is expected to boost the demand for the devices.
North America is anticipated to dominate the global urology equipment market during the forecast period owing to rapid adoption of the urine monitoring system, new product launch, and use of advanced imaging tools for the detection of urinary diseases. According to National Chronic Kidney Disease Fact Sheet, in 2017, nearly 30 million of U.S. population was estimated to have chronic kidney disease (CKD), which accounted for 15% of U.S. population. This is expected to favour the expansion of urology equipment market in North America. The growth in urology equipment market is likely to propel in Europe due to the emerging government recommendations and improving health reimbursement.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry