Urology Devices Market Set to Soar Past USD 58.80 Billion by 2030
The global Urology Devices market size is expected to reach USD 58.80 billion by 2030 and exhibit a CAGR of 4.8% in the forecast period (2023−2030), according to Skyquest’s latest research report. The aging global population is increasing the incidence of urological conditions such as kidney stones, urinary incontinence, and benign prostatic hyperplasia (BPH). Advances in medical technology and minimally invasive surgical techniques have led to the development of innovative urology devices, attracting both patients and healthcare providers is fueling the market’s growth.
Westford USA, Jan. 15, 2024 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Urology Devices market, increasing adoption of telemedicine and remote monitoring solutions for urological conditions enhances patient care and offers convenience. The shift towards minimally invasive urological procedures continues, driven by the benefits of reduced recovery time and shorter hospital stays are the trends aid in the market’s growth.
Browse in-depth TOC on “Urology Devices Market”
- Pages – 157
- Tables – 67
- Figures – 75
Urology devices are medical devices used to diagnose, treat, and manage the urinary tract and male reproductive system conditions.
Prominent Players in the Urology Devices Market
- Johnson & Johnson
- Abbott Laboratories
- Boston Scientific
- Siemens Healthineers
- GE Healthcare
- Olympus Corporation
- Koninklijke Philips N.V.
- Zimmer Biomet
- Globus Medical
- Stryker Neurovascular
- Integra LifeSciences
- Medtronic Neuromodulation
- Abbott Neuromodulation
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Endoscopes Demand to Grow Substantially in the Forecast Period
Endoscopes dominate the global online market as they are used for diagnosing and treating a wide range of urological conditions, such as kidney stones and bladder tumors. The dominance of endoscopes is attributed to their versatility in both diagnosis and minimally invasive surgical procedures.
Urological Cancer is the Leading Application Segment
In terms of application, the urological cancer is the leading segment due to the increasing demand for convenience. The prevalence of these cancers, along with the emphasis on early detection and effective treatment, fuels demand for devices used in cancer diagnosis, surgery, and follow-up care. For example, biopsy devices, robotic surgical systems for prostatectomy, and imaging equipment are crucial for diagnosing and treating urological cancers.
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North America is the leading Market Due to the Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The region has large aging population that is more prone to urological conditions, a well-established healthcare infrastructure, and a high level of awareness about urological health. Additionally, the presence of key medical device manufacturers and research institutions in North America drives innovation and product development.
A recent report thoroughly analyzes the major players operating within the Urology Devices market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Urology Devices.
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Key Developments in the Urology Devices Market
- KARL STORZ SE & Co. K.G. obtained approval from the U.S. Food and Drug Administration (FDA) for its Blue Light system to be used with Photocure ASA’s Cysview product for Blue Light Cystoscopy procedures. This approval enables the detection of non-muscle-invasive bladder cancer (NMIBC).
Key Questions Answered in Urology Devices Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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