Urology Devices Market by Product (Endoscopes, Visualization Systems, Robotic Systems, Lasers & Lithotripsy, Dialysis, and Urodynamic), Disease (Kidney Disease, Urinary Incontinence, Stones, BPH, Urologic Cancer, and Pelvic Organ Prolapse) - Global Forecast to 2021
Urology Devices Market by Product (Endoscopes, Visualization Systems, Robotic Systems, Lasers & Lithotripsy, Dialysis, Urodynamic), Disease (Kidney Disease, Urinary Incontinence, Stones, BPH, Urologic Cancer, Pelvic Organ Prolapse) - Global Forecast to 2021
The urology devices market is expected to reach USD 40.13 billion by 2021 from USD 28.35 billion in 2016, at a CAGR of 7.2%. The global urology devices market is segmented based on product and disease type.
The urology devices market, by product, is segmented into urology endoscopes, endovision systems, robotic systems, peripheral instruments, consumables and accessories, lasers and lithotripsy devices, dialysis devices, and urodynamic systems. The dialysis devices segment is expected to account for the largest share in 2016. The large share of this segment can be attributed to the high cost of hemodialysis machines and large & regular demand for dialysis consumables.
The urology devices market, by disease type, is segmented into kidney diseases, urinary stones, benign prostatic hyperplasia, urinary incontinence, pelvic organ prolapse, urological cancer, and other diseases. The kidney disease segment is expected to account for the largest share of the global urology devices market in 2016. The rapidly growing geriatric population and rising prevalence of kidney diseases are the key factors propelling the growth of this market.
Geographically, the urology devices market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). However, Asia is projected to grow at the highest CAGR during the forecast period. Growth in the Asia is primarily driven by the rising prevalence of kidney diseases, growing geriatric population, and increasing healthcare expenditure.
The key players in the urology devices market include Fresenius Medical Care AG & Co. KGaA (Germany), Baxter International, Inc. (U.S.), Olympus Corporation (Japan), KARL STORZ GmbH & Co. KG (Germany), and Richard WOLF GmbH (Germany).
Apart from comprehensive geographic and product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise the product portfolios, developments, and strategies adopted by the market players to maintain and increase their shares in the market. The above-mentioned market research data, current market size, and forecast of the future trends will help key market players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, and levels of output in order to remain successful in the market.
Reasons to Buy the Report:
This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms garner greater market shares. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the urology devices market. The report analyses the urology devices market by product, disease type, and region.
Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the urology devices market
Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the urology devices market
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various urology devices across geographies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the urology devices market