UROLOGY DEVICE MARKET ANALYSIS

The global urology device market was valued at US$ 17,538.4 Mn in 2023 and is forecast to reach a value of US$ 25,535.3 Mn by 2030 at a CAGR of 4.8% between 2023 and 2030. The urology device market is experiencing strong growth due to the rise in burden of urologic conditions and increasing geriatric (aging) population around the world. Moreover, rise in demand or adoption of urology devices and research and development (R&D) in the field of urology is expected to boost the growth of the market. However, factors such as high cost of urology devices and stringent rules and regulations are expected to hamper the market growth.

Global Urology Device Market: Regional Insights

Based on geography, the global urology device market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market over the forecast period owing to the growing burden of urologic disease/conditions, growing geriatric population, and advancements in minimally invasive technologies in the region. For instance, urologic disease or disorders are among the most common clinical conditions seen in geriatric patients. According to the National Institute of Health (NIH), kidney stones affect around 1 in 11 people in the United States. Moreover, according to the Urologic Diseases in America, each year, U.S. population spent around US$ 11 billion for the treatment and management of urological diseases.

Asia Pacific is also expected to witness robust growth in the global urology device market due to the rise in prevalence of urologic disease, growing geriatric population, and introduction of novel and/or technologically advanced devise by market players in the region. For instance, in July 2020, Lumenis Ltd. announced the launch of MOSES 2.0, the next generation of the versatile, patented platform that is redefining urology care. In 2017, Lumenis India launched Moses Holmium Laser for urology. Moses technology is designed to significantly reduce retropulsion during lithotripsy, enabling significantly minimised stone migration and a more efficient procedure.

Figure 1. Global Urology Device Market Share (%), by Region, 2023

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Global Urology Device Market Drivers:

High incidence of urologic conditions to drive market growth

One of the key factors expected to augment the growth of the global urology device market during the forecast period is the growing incidence of urologic conditions worldwide. Such a high burden of urologic diseases leads to an increase in demand for urology devices, driving the market growth. According to the National Institute of Health (NIH), urinary tract infections (UTIs) are some of the most common bacterial infections, affecting around 150 million people each year worldwide. Moreover, according to the American Urology Association, UTIs are very common in the U.S. In fact, UTIs are the second most common type of infection in the body and are the reason for more than 8 million visits to the doctor each year. 

Growing geriatric population to underpin market growth

Another factor which is driving the growth of the global urology device market is the increasing geriatric (aging) population around the world. For instance, urologic disease/disorders are among the most common clinical conditions seen in geriatric patients, and are more prevalent in geriatric hospitals than in other hospitals. Therefore, with the growing geriatric population, the demand for urology devices is also increasing. According to the World Health Organization (WHO), by 2030, one in six people in the world will be aged 60 years or over, and by 2050, the world’s population of people aged 60 years and older will double (2.1 billion).

Global Urology Device Market Opportunities:

Rise in demand or adoption of urology devices across the world is expected to provide significant growth opportunities for players in the global urology device market. For instance, with the rise in prevalence or incidence of urologic diseases and increase in awareness among people, the demand for safe and effective urology devices is also increasing with a rapid pace. In January 2023, Cook Medical announced the launch of streamlined portfolio of urological bipolar electrodes in the U.S. to help physicians focus on treating patients with products they use frequently. The electrodes are for daily use in bladder and prostate procedures.

Research and development (R&D) in the field of urology is expected to provide significant growth opportunities for player in the global urology device market. For instance, in August 2020, Dornier MedTech (Dornier) announced the launch of UroX, a community that connects professionals from various disciplines to cultivate innovation and solve the most pressing challenges in urology. The UroXChallenge is Asia’s largest medtech call for innovations in urology, where up to SGD$ 500k of funding will be offered to innovative proposals with the potential to make a breakthrough in urological patient care and treatment. Areas of interest include kidney stones, urological cancers, urinary incontinence, medical devices, digital solutions, and precision medicine.

Global Urology Device Market Trends:

Adoption of minimally invasive surgeries is a recent trend

The adoption of minimally invasive and robotic surgeries, along with the development of dialysis centres, have contributed to the growth of the market. Minimally invasive urological surgery uses very small incisions and a laparoscope or surgical robot to help perform the surgery. These tools allow a surgeon and surgical team to see affected areas and perform the surgery without damaging much of the surrounding areas. This trend is expected to continue over the forecast period, driving the growth of the global urology device market.

Rise in awareness about kidney diseases is another trend

Most kidney diseases, such as chronic kidney disease, cystic kidney diseases, lupus nephrite, renal cyst, hemolytic-uremic syndrome, and others, lead to kidney failure, which require early diagnosis for prompt treatment. Thus, players in the market are focusing on developing a low-cost, safe, and effective treatments. Moreover, with the rise in awareness among people about urologic diseases and available treatments, the demand for urology devices is also increasing with a rapid pace. This trend is also expected to continue over the forecast period, driving the market growth.

Global Urology Device Market Restraints:

High cost of urology devices to hinder market growth

One of the key factors expected to hamper growth of the global urology device market is the high cost of urology devices. Urology device, such as lasers and lithotripters, are extremely costly. For instance, holmium-based lasers are especially known for being extremely expensive and the usual price range is in thousands of USD. Moreover, the disposable category of urology devices, such as catheters, guide wires, and extraction bags, are also extremely expensive. However, players in the market are launching low-cost or affordable devices in the market.

Stringent rules and regulations to hamper market growth

Another factor which is hampering the growth of the global urology device market is the stringent regulatory policies for validation of medical devices. For instance, regulatory authorities, such as the Medical Device Directive (MDD), Europe and the U.S. Food and Drug Administration (FDA) regulates the safety and marketing of medical devices. Moreover, European Union (EU) follows four-class medical device classification scheme, the higher the level of classification, the closer is the scrutiny of devices. A manufacturer who intends to manufacture a medical device needs to get device notification, device certificate, and device approval, based on class of the device.

Figure 2. Global Urology Device Market Share (%), by Instruments, 2023

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Global Urology Device Market Segmentation:

The global urology device market report is segmented into Product Type, Disease, Treatment, End User, and Geography.

Based on Product Type, the market is segmented into Instruments and Consumables and Accessories. Instruments further segmented into Dialysis Devices and Endoscopes and Endovision Systems. Out of which, Dialysis Devices Segment is expected to dominate the market over the forecast period and this is attributed to the increase in demand for dialysis devices to improve the dialysis treatment for patients across the world.

Endoscopes and Endovision Systems Segment is also expected to witness significant growth in the near future and this is owing to the increase in demand for endoscopes and endovision systems. An endoscope is a skinny, long, flexible tube used to diagnose and treat urological problems.

Based on Disease, the market is segmented into Kidney Diseases, Urological Cancer and BPH, Pelvic Organ Prolapse, and Other Diseases. Out of which, Kidney Diseases Segment is expected to dominate the market over the forecast period and this is attributed to the increase in prevalence or incidence of kidney diseases around the world.

Urological Cancer and BPH Segment is also expected to witness significant growth in the near future and this is owing to rise in burden of urological cancer.

Based on Treatment, the market is segmented into Invasive Treatment and Non-invasive Treatment. Out of which, Invasive Treatment Segment is expected to dominate the market over the forecast period and this is attributed to the rise in number of minimally invasive surgeries.

Based on End User, the market is segmented into Hospitals and Clinics, Dialysis Centres, and Other End Users. Of which, Hospitals and Clinics Segment is expected to dominate the market over the forecast period and this is attributed to the increase in burden of urologic diseases.

Dialysis Centres Segment is also expected to witness robust growth in the near future and this is owing to increase in number of dialysis centres worldwide.

Global Urology Device Market: Key Developments

In September 2021, LiNA Medical and UroCure teamed up to develop a range of surgical solutions for female stress urinary incontinence.

In March 2021, Boston Scientific Corp. agreed to buy the global surgical business of privately held Lumenis Ltd. for around US$ 1.07 billion, as the medical device maker looks to add an array of laser systems used in treating kidney stones to its portfolio.

In January 2021, Advanced MedTech Holdings (AMTH) announced it has led a USD 3 million Series A funding in Devicare to support its development of innovative urological treatments that combines nutritional therapy with digital monitoring.

In September 2018, Boston Scientific launched the new kidney stone retrieval device that allows a single urologist to operate both an ureteroscope and basket simultaneously during the procedure, performed via flexible ureteroscopy.

Global Urology Device Market: Key Companies Insights

The global urology device market is highly competitive. This is attributed to the rise in demand for safe and effective urology devices, as a result, players in the market are focusing on developing and launching novel products in the market.

Some of the key players in the global urology device market are Stryker Corporation, Richard Wolf, Olympus Corporation, Medtronic, Karl Storz, Fresenius Medical Care, Dornier Medtech, Cook Medical, Boston Scientific, and Becton, Dickinson and Company (C.R. Bard).

*Definition: Urology devices are used to diagnose and treat urologic diseases/disorders of both male and female urinary tract. Millions of people worldwide are affected by urinary tract system disorders, and women are more likely to be affected than men. Thus, there is an increase in demand for such devices across the world, driving the market growth.