A recent report published by Infinium Global Research on urology devices market provides an in-depth analysis of segments and sub-segments in the global as well as regional urology devices market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional urology devices market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global urology devices market. According to the report, the global urology devices market is projected to grow at a CAGR of 7.2% over the forecast period of 2019-2025.
The urology devices market is highly fragmented and is based on new product launches and clinical results of the product. The urology device market is expected to grow at a success rate over the forecast period. The growing occurrence of chronic kidney diseases is expected to fuel the growth of the market. Shock wave lithotripsy devices that help in locating kidney stones are the newest trend in the urology devices market. The key factors driving market growth include a high incidence of urologic conditions and technological advancements.
A recent report published by Infinium Global Research on the urology devices market is driven by the growing urinary tract diseases, congenital abnormalities, traumatic injury, prostate cancer, and stress incontinence. According to Global The burden of disease study, each year, around 1.7 million people estimated to die from acute kidney injury, around 1.2 million people die from kidney failure, 2.3–7.1 million people with end-stage kidney disease. Overall, an estimated 5–10 million people die annually from kidney disease. Therefore, growth in healthcare expenditure, development in the surgeries and urological devices are some of the key factors that drive the growth of the global urology devices. However, poor reimbursement policies and high cost associated with these devices may hamper the growth of the urology devices market. Furthermore, the rising demand for minimally invasive urology surgeries creates opportunities for the growth of the urology devices market during the forecast period.
The report on the urology devices market is segmented regionally into North America, Asia Pacific, Latin America, and Middle East & Africa. Geographically, North America is leading the global urology devices market owing to high awareness levels among individuals about urinary disorders and their treatment. Europe the region is expected to grow at a moderate pace due to the high-frequency rate of kidney failures, and the availability of advanced research and development facilities in the region attached to technological advancement in the urological field. The Asia Pacific is estimated to be the fastest growing urology devices market due to developing healthcare facilities and the presence of developing economies like India and China.
The report on global urology devices market covers segments such as product type, disease, and end user. On the basis of product type, the sub-markets include urology endoscopes, robotic surgical systems, laser systems, lithotripters, dialysis devices, urodynamic systems, urology consumables, and other products. On the basis of disease, the sub-markets include prostate cancer, benign prostatic hyperplasia (BPH), kidney diseases, urinary stones, pelvic organ prolapse, and other diseases. On the basis of end user, the sub-markets include hospitals and clinics, dialysis centers, and other end users.
The report provides profiles of the companies in the market such as Stryker Corporation, Boston Scientific Corporation, Cook Medical, Fresenius Medical Care, Olympus Corporation, Karl Storz SE & Co., Siemens AG, Baxter International Inc., Nipro Corporation, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of urology devices market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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