New York, June 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Urology Devices Global Market Report 2023" - https://www.reportlinker.com/p06466497/?utm_source=GNW
, Karl Storz SE & Co. KG, Medtronic PLC, Olympus Corporation, Siemens AG, Cardinal Health Inc, B. Braun Melsungen AG, Dornier MedTech., Becton, Dickinson and Company, Coloplast Corp., STERIS Corporation, Integer Holdings Corporation, and Surgical Holdings Corp.
The global urology devices market is expected to grow from $34.60 billion in 2022 to $37.10 billion in 2023 at a compound annual growth rate (CAGR) of 7.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The urology devices market is expected to reach $46.82 billion in 2027 at a CAGR of 6%.
The urology devices market consists of sales of instruments, consumables, accessories, dialysis machines, envision devices, and imaging devices.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Urology devices refer to instruments or devices used to diagnose or treat diseases in urology. It offers patients with many potential advantages with diseases of the urinary tract such as kidney, bladder, and ureters in men and women.
North America was the largest region in the urology devices market in 2022. The regions covered in urology devices report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of urology devices are urology endoscopes, robotic surgical systems, laser systems, lithotripters, brachytherapy systems, high-intensity focused ultrasound systems, urodynamic systems, and urology consumables.A urology endoscope refers to a device with a light attached to it used to visualize the urethra and bladder (urethrocystoscopy) and ureter or renal pelvis and calyces (ureterorenoscopy).
Urology devices are used in various diseases such as kidney diseases, urological cancer and Benign prostatic hyperplasia (BPH), pelvic organ prolapse, and other diseases.The various technology involves in urology devices are minimally invasive surgery, robotic surgery, and other technologies.
These devices are used by various end-users such as hospitals and clinics, dialysis centers, and others.
The high incidence of urologic conditions is expected to propel the growth of the urology devices market going forward.Urologic conditions refer to the diseases that affect the urinary tract, such as urinary tract infections, bladder control problems, kidney stones, prostate problems, and others.
As the global population continues to age and the prevalence of chronic diseases such as diabetes and obesity increases, the incidence of urological conditions is expected to rise.Urology devices and relevant equipment are required by the urologist for the proper diagnosis and treatment of these urological conditions, like erectile dysfunction, kidney stones, prostate cancer, bladder cancer, and others, as a result, the high incidence of urologic conditions increases the demand for urology devices market.
For instance, in 2022, according to a report by the Kidney Care Center, a US-based company specializing in the diagnosis and treatment of all kidney related conditions, kidney stones affect around one in 10 Americans at some time in their lives. Also, according to a 2022 report by the Children’s Hospital of Philadelphia indicates that as global temperatures rise, the incidence of kidney stones would climb by 2.2% to 3.9%. Thus, the high incidence of urologic conditions is expected to drive the urology devices market.
Technological advancements are a key trend gaining popularity in the urology devices market.Major companies operating in the urology devices market are focused on developing new solutions and advanced technologies to strengthen their position in the market.
For instance, in July 2020, Lumenis Ltd., an Israel-based medical device company, launched MOSES 2.0. MOSES 2.0 is a laser technology platform that is specifically designed for the treatment of kidney stones, one of the most common urological conditions. The technology uses a unique combination of pulse modulation and energy delivery to improve the efficiency and safety of kidney stone treatment.
In November 2022, Alleima, a Sweden-based company that involves in the development and production of advanced stainless steels, special alloys, titanium, and other high-performance materials, acquired Endosmart for an undisclosed amount.Through this acquisition, Alleima aims to expand its capabilities and increase its market by adding new products and materials from Endosmart.
Gesellschaft für Medizintechnik GmbH (Endosmart) is a Germany-based manufacturing company that produces medical devices and components primarily in the fields of urology, oncology, and cardiology.
The countries covered in the urology devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The urology devices market research report is one of a series of new reports that provides urology devices market statistics, including urology devices industry global market size, regional shares, competitors with a urology devices market share, detailed urology devices market segments, market trends, and opportunities, and any further data you may need to thrive in the urology devices industry. This urology devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06466497/?utm_source=GNW
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