Market Size of Global Urology Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.35 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Urology Devices Market Analysis
The global urology devices market is growing at a rate of 6.35% during the forecast period (2022-2027).
The global spread of COVID-19 has flooded many healthcare institutions with severely ill patients and medical equipment such as dialysis machines, endoscopes, and lithotripsy machines. COVID-19 causes acute respiratory distress and acute renal damage in individuals. Multi-organ failure and renal failure can occur when the patient's body cannot remove excess waste and fluids from the body. As a result of the use of dialysis equipment in the treatment of patients, the urology device market has a beneficial impact on COVID-19. However, urology practices have decreased during the pandemic. Thus, COVID-19 has a mixed impact on the market studied.
The key factors propelling the market growth include a high incidence of urologic conditions, a rising senior population, and technological advancements.
According to the American Urological Association Foundation (AUAF), benign prostatic hyperplasia (BPH), urinary incontinence (UI), urinary tract infections (UTIs), and kidney and ureteral stones are among the most common urological diseases. The United States According to the National Institute of Medicine July 2020, urinary tract infection affects approximately 150 million people globally. In addition, about 11% of women visit one physician yearly for urinary tract infection treatment. Urinary tract infections (UTIs) are among the most common microbial diseases affecting people of all ages. Globally, UTIs affect around 150 million people every year. Diabetic patients have a higher risk of developing UTIs. With a global increase in the diabetic population, complications like dysuria and organ damage are associated with UTIs, which are also rising.
Additionally, according to the article published in the International Journal of Molecular medicine in August 2020, Kidney stone disease, also known as nephrolithiasis or urolithiasis, is one of medicine's oldest diseases. It is estimated that 11% of people will develop kidney stones at some point in their lives, and the prevalence and incidence of kidney stones are increasing worldwide. However, the overall prevalence of urolithiasis was 11.2 %, with 48.8 % having a first-degree relative with the disease. Males were 1.8 times more likely than females to have urolithiasis.
Hence, with the high incidence rates and health complications associated with urological diseases, there is an increasing demand for healthcare interventions to manage them, which, in turn, is propelling the market of urology devices market.
