Urology Devices Global Market Report 2024

The urology devices market size has grown strongly in recent years. It will grow from $37.1 billion in 2023 to $39.59 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth observed in the historical period can be attributed to several contributing factors, including the aging population leading to a higher incidence of urological disorders, advancements in minimally invasive procedures making treatments more accessible and less invasive, increased awareness and improved diagnosis of urological conditions, and the growth and development of healthcare infrastructure supporting better access to urological care.

The urology devices market size is expected to see strong growth in the next few years. It will grow to $49.93 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth in the forecast period is expected to be driven by various factors, including the increasing geriatric population contributing to higher demand for urological devices, a shift towards preventive healthcare measures promoting early diagnosis and treatment of urological conditions, continuous advancements in treatment modalities enhancing patient outcomes, global health challenges emphasizing the need for better urological care worldwide, and the growing trend towards patient-centric care enhancing overall treatment experiences. Key trends expected in the forecast period encompass a heightened focus on female urology devices to address specific needs, the development of next-generation urodynamic systems improving diagnostic accuracy and patient comfort, the expansion of urological endoscopy devices for more comprehensive diagnostic and treatment capabilities, personalized treatment approaches in addressing erectile dysfunction tailored to individual patient needs, and a notable market growth in emerging economies as they enhance their healthcare infrastructure and services.

The anticipated rise in the prevalence of urologic conditions is poised to fuel the expansion of the urology devices market in the foreseeable future. Urologic conditions encompass a spectrum of diseases affecting the urinary tract, including urinary tract infections, bladder control issues, kidney stones, and prostate problems. As the global population ages and the incidence of chronic diseases such as diabetes and obesity grows, the occurrence of urological conditions is expected to increase. Urologists necessitate specialized devices and equipment for the accurate diagnosis and treatment of conditions such as erectile dysfunction, kidney stones, prostate cancer, and bladder cancer. In 2022, the Kidney Care Center reported that kidney stones impact approximately one in 10 Americans during their lifetime. Additionally, a 2022 study by the Children's Hospital of Philadelphia indicates a projected increase in kidney stone incidence by 2.2% to 3.9% as global temperatures rise. Consequently, the heightened prevalence of urologic conditions is anticipated to be a driving force behind the urology devices market.

The growth of the urology devices market is expected to be further propelled by an increase in healthcare expenditure. Healthcare expenditure encompasses the total financial outlay on medical services, treatments, pharmaceuticals, facilities, and related expenses within a specific population or country over a defined period. Elevated healthcare expenditure stimulates greater demand and investment in advanced urology devices, facilitated by improved accessibility and innovation. For example, as of September 2022, MedTech Europe reported that, on average, approximately 11% of the gross domestic product (GDP) in Europe is allocated to healthcare. Within this allocation, around 7.6% is dedicated to medical technologies. The expenditure on medical technology in European countries ranges from about 5% to 12% of the total healthcare spending. The per capita expenditure on medical technology in Europe is approximately $346.08 (€284). Consequently, the escalating healthcare expenditure is expected to act as a catalyst for the growth of the urology devices market.

Major corporations are increasingly embracing a strategic partnership approach as a means to bolster their efforts in research, development, and market penetration, particularly for groundbreaking solutions. Strategic partnerships entail companies leveraging each other's strengths and resources to attain mutual benefits and achieve success. An illustrative example occurred in December 2021 when MedicaMetrix Inc., a medical device development company based in the United States, entered into a collaboration with Emerson Hospital's Yeatts Urology Center, a US-based hospital company. The objective of this collaborative effort is to establish global urological centers of excellence with the overarching goal of enhancing patient treatment. The partnership underscores the crucial importance of introducing targeted treatment approaches for conditions such as prostate and other cancers to international markets, including those in Europe and the Middle East. This strategic collaboration aims to leverage the combined expertise and capabilities of both entities for the advancement of innovative solutions and the broader improvement of patient care on a global scale.

Major corporations are increasingly adopting a strategic partnership approach to bolster their endeavors in research, development, and market penetration, with a specific focus on pioneering solutions. Strategic partnerships involve companies harnessing each other's strengths and resources to attain mutual benefits and achieve success collectively. An illustrative example is the collaboration between UroCure, a patient-centered company based in the United States, and LiNA Medical USA, a medical device company also based in the US, initiated in September 2021. This partnership is designed to synergize the UroCure ArcTV sling and their expanding women's health portfolio with LiNA's US national sales force and a comprehensive array of device solutions. The collaboration aims to leverage the complementary strengths of both entities in distribution and product development, showcasing a strategic alignment to enhance market presence and offer innovative solutions within the urology devices sector.

In November 2022, Alleima, a company based in Sweden specializing in the development and production of advanced stainless steels, special alloys, titanium, and other high-performance materials, successfully completed the acquisition of Endosmart for an undisclosed sum. The strategic intent behind this acquisition is to augment Alleima's capabilities and broaden its market reach by incorporating new products and materials obtained from Endosmart. Endosmart, known formally as Gesellschaft für Medizintechnik GmbH, is a Germany-based manufacturing company with a focus on producing medical devices and components, particularly in the fields of urology, oncology, and cardiology. This acquisition aligns with Alleima's strategic growth objectives and is expected to contribute to the expansion of their product portfolio and market presence, leveraging the specialized expertise of both entities in the realm of advanced materials and medical device manufacturing.

Major companies operating in the urology devices market report are Baxter International Inc., Boston Scientific Corporation, Cook Medical Incorporated, Stryker Corporation, Fresenius Medical Care AG & Co. KGaA, Intuitive Surgical Inc., Karl Storz SE & Co. KG, Medtronic PLC, Olympus Corporation, Siemens AG, Cardinal Health Inc, B. Braun Melsungen AG, Dornier Med Tech, Becton Dickinson and Company, Coloplast Corp., STERIS Corporation, Integer Holdings Corporation, Surgical Holdings Corp., C. R. Bard Inc., Endo Pharmaceuticals Inc., Healthtronics Inc., Argon Medical Devices Inc., Aspivix SA, Astellas Pharma Inc., Aytu BioScience Inc., DistalMotion SA, EDAP TMS, InnovaQuartz LLC, Lumenis, NeoTract Inc., NIKKISO CO. LTD, Pelvital USA Inc., Perineologic, Procept BioRobotics, Promaxo, Promedon GmbH, PSS Urology Inc., Roivant Sciences Inc., StyledWel, Taiho Pharmaceutical Co. Ltd., Teleflex Incorporated, Urologix LLC, UroMems, Urotech GmbH, Zenflow Inc..

North America was the largest region in the urology devices market in 2023. The regions covered in the urology devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the urology devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary product types within urology devices include urology endoscopes, robotic surgical systems, laser systems, lithotripters, brachytherapy systems, high-intensity focused ultrasound systems, urodynamic systems, and urology consumables. Urology endoscopes, equipped with attached lighting, enable visualization of the urethra, bladder (urethrocystoscopy), and upper urinary tract (ureterorenoscopy). These devices find application in various conditions such as kidney diseases, urological cancers, Benign Prostatic Hyperplasia (BPH), pelvic organ prolapse, and other related diseases. Technologies involved in urology devices include minimally invasive surgery, robotic surgery, and other innovative technologies. Urology devices are used by a range of end-users, including hospitals, clinics, dialysis centers, and other medical facilities involved in urological care and treatment.

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.

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.


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