The urological devices market was predicted to be worth USD 32.35 billion in 2022, and it is projected to grow to USD 55.26 billion by 2030, with a compound annual growth rate of 7.2%. The spike in the use of urological equipment can be attributed to the rising incidence of urological illnesses.
Using tools like catheters, guidewires, uteroscopes, urodynamic systems, and other devices, urology devices play a significant role in the diagnosis and treatment of various urological conditions and diseases, such as kidney stones, UTIs, urinary incontinence, bladder cancer, etc.
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GROWTH DRIVERS
The need for urological devices is rising due to an increase in urological illnesses such as kidney stones, urine incontinence, urinary tract infections (UTIs), etc. among the population, mostly the elderly, who are more prone to urological disorders worldwide. Urological disorders are becoming more common as a result of unhealthy eating habits (such as consuming processed foods that contain artificial additives, preservatives, etc.) and environmental factors (such as exposure to certain chemicals or contaminated water).
Urological device technology has advanced to the point where very little surgery is required, which has advantages like quicker recovery and less discomfort after surgery that are fueling the growth in urological device sales.
Competitive Landscape:
Businesses make significant investments in the creation and research of urology device manufacturing in order to reduce costs and provide better results. The main players concentrate on growing their brand awareness and distribution networks by partnering with hospital chains, promoting urological disorders, and integrating healthcare professionals in training programs and campaigns. The secret to maintaining brand integrity and ensuring client pleasure, which in turn drives a spike in sales, is quality control and customer care.
MARKET SEGMENTATION:
· By Product –
• Endoscopes
• Lasers
• Biopsy
• Urodynamic systems
• Consumables and others
· By Disease –
• kidney disease
• Pelvic organ
• Prostatic Hyperplasia and others
· By End User –
• Hospitals
• Clinics
• Dialysis centers
· By Region –
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Global Key Players:
· Boston Scientific
· Medtronic
· Cook
· Baxter
· Olympus
· Karl Storz
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