Urology Devices Market report is a comprehensive overview of the market’s situation thoroughly examined and compiled by Stratview Research. This new report provides past progress, current market conditions, and a future prospect from the year 2021 to 2026. It also offers accurate overview of the growth strategies, market size, mergers & acquisitions, and upcoming products/services of leading key players in this market.
The report analyses the market thoroughly and collects data in order to offer reliable data to the users. The present report mentions that the Urology Devices Market is projected to grow from USD 3.2 billion in 2020 to USD 4.6 billion by 2026 at a CAGR of around 6.1% during the forecast period.
The growth of the urology devices market is primarily driven by the increasing incidence of chronic kidney diseases. Expanding geriatric populace coupled with a rising preference for minimally invasive surgical procedures is another key factor that is likely to bolster the growth of the urology devices market at a significant rate during the review period. In addition to this, the growing emphasis on the development of advanced medical devices is likely to create lucrative opportunities for the players operating in the global market in the coming years.
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Market Segments' Analysis
According to Stratview Research, the Urology Devices Market is segmented By Product (Instruments, Consumables and Accessories), Application (Kidney Diseases, Urological Cancer, BPH), End User (Hospitals and Clinics, Dialysis Centers, Homecare), and Region.
By end-user, the urology devices market has been bifurcated into hospitals and clinics, dialysis centers, and homecare. The hospitals & clinics segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to the established presence of healthcare infrastructure and skilled staff.
By region, the North American market accounted for the largest market share in 2020 and is projected to grow at a robust CAGR during the review period. This can be attributed to increasing investment in R&D activities to develop advanced medical devices coupled with expanding geriatric populace and the presence of key market players such as Boston Scientific Corporation (US) and Baxter International Inc. (US). The market growth in Asia-Pacific is expected to be driven by an increasing number of people suffering from urological disorders.
Top key vendors in the market:
The report mentions a list of key players in the Urology Devices Market. Some of them are mentioned below –
- Fresenius Medical Care AG & Co. KGaA (Germany)
- Siemens AG (Germany)
- KARL STORZ SE & Co. KG (Germany)
- Boston Scientific Corporation (US)
- Baxter International Inc. (US)
- R. Bard, Inc. (US)
- Olympus Corporation (Japan)
- Richard Wolf GmbH (Germany)
- Intuitive Surgical, Inc. (US)
- Dornier MedTech (Germany)
- Cook Medical (US)
- Stryker Corporation (US)
- Medtronic plc (Ireland).
Key Questions Answered in The Report:
- Which region will show the higher and rapid growth?
- Who are the top key players of the Urology Devices Market?
- How will the market change in the upcoming five years?
- What was the impact of Covid19 on the market?
- Which application/ service/product will take a lion's share of the market?
- What are the market drivers and constraints?
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