"Designing Growth Strategies is in our DNA"
The global urology devices market size was valued at USD 32.03 billion in 2021 and is projected to grow from USD 35.93 billion in 2022 to USD 55.91 billion by 2029, exhibiting a CAGR of 6.5% during the forecast period. Based on our analysis, the market had exhibited a decline of -3.0% in 2020 as compared to 2019. The global COVID-19 pandemic has been unprecedented and staggering, with urology equipments experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.
The urology devices help in the diagnosis and treatment of various urological disorders such as urolithiasis, urethral malignancies, bladder disorders, and kidney diseases. It includes various consumables such as catheters, dilators, and sheaths. These devices consist of urodynamic systems, urology robotic systems, laser & lithotropsy devices, cystoscopes and ureteroscopes, which are used to diagnose bladder and urethra-related disorders.
The urology devices market growth is attributed to the increasing prevalence of kidney stones, bladder cancer, and chronic kidney diseases. Moreover, technological advancements in urology products are expected to propel the demand for these devices to treat these diseases. Furthermore, the growing demand for single-use cystoscopes and the rising number of acquisitions and mergers by the market players are anticipated to boost the market growth during the forecast period.
COVID-19 Negatively Impacted the Market Revenue due to Delay in Urological Elective Surgeries
The emergence of COVID-19 has declined the demand for urology devices due to lower patient volumes and delays in elective surgeries. Key players in the market experienced a significant decline in their revenues due to the COVID-19 pandemic. The reallocation of healthcare resources for COVID-19 treatment, the declining number of patient visits to hospitals & specialty clinics, the disruptions in supply chains, and other major parameters impacted the sales of cystoscopes, laser & lithotripsy, and urology accessories across the globe. In terms of revenue, the market witnessed a decline of 3.0% in 2020.
The market players witnessed a significant decline in revenue generated during 2020. For instance, Olympus generated a revenue of USD 6,652.4 million in 2020 and experienced a decrease of 3.3% compared to 2019. This was due to decreased sales from cystoscopes, ancillary products, ureteral access sheath, and ureteroscopes.
However, between Q4-2020 and Q1-2021, elective surgeries were resumed as the regulations imposed by the government across various countries were relaxed. This led to an increased patient volume in hospitals and dialysis centers, which has partially regularized the sales of urology equipments worldwide. For instance, Boston Scientific Corporation generated a revenue of USD 11,888.0 million in 2021 and witnessed an increase of 19.9% compared to its revenue in 2020. The sales were primarily driven by the resumed urological treatments and surgeries across the globe.
Request a Free sample to learn more about this report.
Growing Adoption of Single-use Cystoscopes to Boost Market Growth
The various benefits of single-use flexible cystoscopes include reduced infection transmission and consistent quality with no need for reprocessing or repairs. Additionally, the surge in awareness regarding the benefits of single-use cystoscopes stimulates several manufacturers to increase their development and clinical research for the introduction of disposable cystoscopes in the market.
Moreover, several other market players have received clearance from the government authorities to sell single-use cystoscopes in the market.
The increasing focus on developing and introducing single-use cystoscopes is expected to increase the demand for urology devices during the forecast period.
Increasing Prevalence of Kidney Disorders to Propel Market Progress
The rising incidence of kidney disorders such as chronic kidney diseases and kidney failure are the major factors for the increased adoption of dialysis devices worldwide. For instance, according to the annual report-2021 of Fresenius Medical Care, the estimated number of chronic kidney failures will be around 3.8 million in 2022 and more than 6.0 million by 2030.
Moreover, a large patient pool for dialysis treatment led to a rise in the demand for dialysis products such as dialysate and hemodialysis machines. As a result, manufacturers are launching urology equipments in the market, thereby spurring market growth.
Such new product launches, coupled with the growing prevalence of kidney disorders, are expected to increase the patient population seeking dialysis treatment, thereby propelling the market growth.
Rising Research & Development Activities for the Introduction of Technologically Advanced Products to Boost the Market
The increasing prevalence of various disorders related to urology, such as urolithiasis, urethral malignancies, chronic kidney diseases, and end-stage renal diseases, has stimulated healthcare providers and manufacturers to increase the research and development for the introduction of technologically advanced urology devices.
Apart from the healthcare providers, many manufacturers and nephrologists have also introduced new and advanced urology devices to treat various kidney-related disorders.
The advancements in the products, which offer an immediate promise of better visualization and durability, are expected to increase the adoption of urology devices globally.
Adverse Effects Associated with Cystoscopes to Hamper the Market’s Growth
Several complications associated with cystoscopes, such as infections, bleeding, urinary retention, and bladder perforation, have led to a reduction in the adoption of these devices in the market.
Furthermore, the high cost of urology devices is hampering market growth. Several governments and authorities are raising awareness among urology health care facilities related to the side effects associated with the use of these devices.
Such infections associated with urology devices are expected to act as a barrier to the market's growth.
To know how our report can help streamline your business, Speak to Analyst
Accessories to Hold a Highest Share due to its Growing Adoption in Clinics
Based on the product type, the market is segmented into endoscopes, laser & lithotripsy devices, dialysis devices, other devices, and accessories.
The endoscopes segment is projected to expand at a substantial growth rate during the forecast period. The large share of the segment is attributed to the increasing prevalence of urolithiasis coupled with the high demand for disposable cystoscopes, especially in developed countries.
The accessories segment held the largest market share and is expected to expand at a substantial CAGR during the forecast period, 2022-2029. The segmental growth is due to various market players' increasing launch of urological accessories. Furthermore, increased patient visits to urology clinics coupled with the increasing adoption of catheters and dilators in the urology clinics for treatment are expected to contribute to the segmental growth during the forecast period.
Kidney Disorder to Hold the Highest Share Due to the Rising Prevalence of Chronic Kidney Diseases
Based on the application, the market is segmented into urolithiasis, urethral malignancies, bladder disorders, kidney diseases and others.
In 2021, the kidney diseases segment held the largest market share and was expected to expand at a substantial CAGR during the forecast period, 2022-2029. The segment growth is attributed to the increasing prevalence of end-stage kidney disease and the growing demand for dialysis procedures and minimally invasive surgeries worldwide.
The bladder disorder segment is expected to expand at a significant CAGR during the forecast period, 2022-2029. The segmental growth is due to the increasing geriatric population, who are more prone to a bladder infection, urinary tract infections, and diabetes, causing bladder control problems. Moreover, the rising need to diagnose urological diseases in hospital & ambulatory settings is expected to increase the segmental growth during the forecast period.
Hospitals & Ambulatory Surgical Centers to Account for Highest Share Due to High Adoption of Cystoscopes for Diagnosis
Based on the end-user, this market is segmented into hospitals & ambulatory surgical centers, dialysis centers, and others.
In 2021, the hospitals & ambulatory surgical centers segment held the largest market share and is expected to expand at a substantial CAGR during the forecast period, 2022-2029. The segmental growth is attributed to the increasing patient visits with urology-related disorders in hospitals. Moreover, the growing adoption of urology endoscopes such as cystoscopes and ureteroscopes devices for continuous treatment and diagnosis of urolithiasis in hospitals is expected to drive the segmental growth during the forecast timeframe.
The dialysis centers segment is expected to expand at a significant CAGR during the forecast period, 2022-2029. The segmental growth is due to increasing footfalls of the patients suffering from kidney failure disorders in dialysis centers. Moreover, the rising awareness related to dialysis and the growing focus of market players to target dialysis centers drive segmental growth.
North America Urology Devices Market Size, 2021 (USD Billion)
To get more information on the regional analysis of this market, Request a Free sample
North America dominated the urology devices market share with a revenue of USD 12.34 billion in 2021 and is expected to continue its dominance during the forecast timeframe. The increasing number of patients suffering from kidney diseases, the surge in the patient-visits for treatment and diagnosis, and the strong presence of key market players in the region are anticipated to drive the market. Moreover, the rapid adoption of single-use cystoscopes and the surge in the launch of technologically advanced urology devices by market players are expected to drive market growth in the region.
Europe held the second-highest market share in 2021 and is anticipated to expand at a substantial CAGR during the forecast period. The growth is attributed to a large patient pool suffering from bladder disorders, urolithiasis, and other urology disorders. Moreover, the growing number of approvals of urology devices by the C.E. European commission is anticipated to increase the adoption of urological devices in Europe.
The market across the Asia Pacific is expected to expand at the highest CAGR during the forecast period. The highest CAGR of the region is attributed to the increasing focus on the improvement of healthcare infrastructure, growing awareness regarding the diagnosis of urology disorders, and rising product launches by companies across Japan, China, and India.
The rest of the world is expected to expand at a comparatively lower CAGR during the forecast period. The growth is attributed to the increasing healthcare expenditures, especially in Middle East Africa, growing incidence of chronic kidney disorders, and increased patient visits to urology clinics in these regions.
Market Players with Diversified Product Portfolio to Hold Key Market Share
Fresenius Medical Care AG & Co., Coloplast A/S, Boston Scientific Corporation, B.D., and NIPRO are the prominent players in the market and accounted for a significant market share in 2021.
The large market share of these companies is attributed to the factors such as a strong presence in North America & Europe and a diversified product portfolio of dialysis equipment and accessories. Moreover, the growing focus on developing advanced products to treat urology-related disorders is expected to strengthen their market share during the forecast period.
Few more companies operating in the market include Labories, Intuitive Surgical, Inc., Nikkiso Co Ltd, Ambu A/S, Stryker, KARL STORZ SE & Co. K.G., B.D., Ethicon Endo-Surgery, Inc. These companies are focusing on various strategies such as partnerships, new product launches, collaborations, and research and development activities, in order to strengthen their market shares.
An Infographic Representation of Urology Devices Market
To get information on various segments, share your queries with us
The market research report provides a detailed competitive landscape. It focuses on key aspects such as new product launches in the market. Additionally, it includes the prevalence of urinary disorders and key industry developments such as mergers, partnerships, & acquisitions. Moreover, it covers regional analysis of different segments, company profiles of key market players, and the impact of COVID-19 on the market. The report encompasses qualitative and quantitative insights that contribute to the market's growth.
Value (USD Billion)
By Product Type
Fortune Business Insights says that the global market stood at USD 32.03 billion in 2021 and is projected to reach USD 55.91 billion by 2029.
The market is expected to exhibit a CAGR of 6.5% during the forecast period (2022-2029).
The accessories segment is set to lead the market by product type.
The rising prevalence of urolithiasis, increasing burden of chronic kidney diseases, surging demand for single-use cystoscopes, and the growing acquisitions and mergers by major players are driving the market growth.
Fresenius Medical Care AG & Co., Coloplast A/S, Boston Scientific Corporation, B.D., and NIPRO are the top players in the market.
“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